Evening star., 1940-01-06
District Automobile
Sales Up 49 Per Cent
In Eleven Months
Bank Review Reveals
Many Notable Gains
In Other Indices
BY EDWARD C. STONE.

totaled 23,521 cars against 15,80l
in the like 1888 period, an increase
of 40 per cent, the Federal Re-
serve Bank of Richmond reported
today in the monthly review.
Automobile sales in the whole
Fifth Reserve District in November,
1899, totaled 1880 cars, a gain of
II per cent over November of the
previous year. In the II months
sales reached l82,083, compared
with 123,779 cars in the same months
in 1888, or Jump in 1899 of Al per
cent, the report added. The fine
November record was made in spite
of the absence of one leading manu-
facturer from the market.
Maryland agents sold 3.627 new
cars in November, a gain of II
per cent, and 35,693 in the II
months, IS per cent rise and
exactly the same as the gain in
Washington.
Virginia reported 3,677 automo-
bile sales in November, 1899. an
advance of % per cent, and 38,342
cars in the II months, stepping
up of 40 per cent over the record
in the corresponding months in
1898.
D. C. Building Permits Top List.
The value of building permits
issued in 81 fifth district cities
in November, 1899, totaled $8,947 ,654,
a decrease from October but an
increase of 80 per cent over $6729,-
179 in November, 1888, the report
continues.
Washington reported the highest
figure in November, $3,347,440; Bal
timore was second with $l,428. .780
Permits issued in the first II months
of 1899, totaling $114,216,746, dis
closed an increase of AZ per cent
over permits totaling s8O,056, 900 in
the first II months of 1888.
Contracts actually awarded for
construction work in the fifth dis
trict in November totaled S24.056,-
600, decline of IS per cent from
October and IS per cent from $780,
e28,000 in November, 1888, most of
the drop being due to slump in
publicly financed projects, residen-
tial and industrial work having held
up better.
Construction contracts awarded in
the District of Columbia in Novem-
ber totaled $2948,O0O. against S.
$4,000 in November, 1898, tumble
of 48 per cent.
Construction contracts awarded
in Maryland amounted to $6OOO,0O0,
off 18 per cent from the previous
year, and in Virginia to s5,279,0 900,
down 81 per cent. Based on the
Dodge reports, the Richmond Bank
states that November awards in the
whole fifth district amounted 10
$24, ,239 900, off IS per cent from No
vember, 1938
Total construction contracts
awarded in the fifth district in the
first II months of 1899 totaled $685.
10000, an increase of 23.5 per cent
over s287, ,491 900, the highest mark
reached in any year since 1929, the
report says.
Retail Sales S11,3910
Sales in 81 department stores In
the fifth district in November
reached a total of $11 ,391 ,09l COM
pared with $10.248481, a gain of l
per cent for November and II per
cent for the II months. Washington
sales were up 95 per cent in No.
vember and per cent in the II
months
Sales of 178 wholesale firms
amounted to S10,724.00O in Novem-
ber, off 6 per cent for the month
but up 16 per cent in the II months
over 1888. Retail furniture sales
we're 10 per cent lower in November
but II per cent better than year
ago in the longer period.
Debts to individual accounts in
Is cities, rejecting transactions
through the banks, were 10 per cent
above the November, 1888, debts,
every city showing an increase for
the first time in two years. Dis
trict of Columbia debts in Novem-
ber totaled $263,313 900, gain of 2
per cent over November, 1898.
Other Startling Advances.
The review contains some
startling figures. There were 260,-
664844 pounds Of tobacco sold In
the fifth district in November,
bringing the gain for the II months
to 225 per cent over 1888.
Growers receipts from tobacco
totaled $44258,844, an increase of
166 per cent over the same months
IN 1888. The average price of
tobacco, however, was down 18 per
cent in the II months.
Both loans and investments in
fifth district banks rose between
November II and December Is.
Demand deposits increased but time
deposits declined, as usual during
the holiday season.
Employment rose during Novem-
ber and the first half Of December,
seasonal additions to retail sales
forces more than offsetting some
decline in outside work. In Wash
ington there was gain of 0.4 per
cent in the number on pay rolls and
q pickup of 0.3 per mt in the
amount of pay rolls.
There were 500 commercial fail
ures in the fifth district in the II
months, involving total liabilities
of $5,8l7,0OO. against 591 failures,
involving $7,118O00, in the same pc
riod in the previous year, the report
revealed.
Financial District Notes.
The State of Maryland is calling
for bids on January % for 81 ,37O, COO
certificates of Indebtedness. which
will be dated February IS, 1910, and
due Febr dary IS, 1943, to 1855, in
elusive.
Electric output of North American
Co. for the week ended December
% aggregated 1877, 100000 XVIII, COM
pared with 122,200,000 XVIII. for the
corresponding week of 1888, an in
crease of 1872 per cent.
The Baltimore & Ohio Railroad
has applied to the Interstate Com.
merce Commission for authority tc
Issue and sell at mar to the Recon