Evening star., 1940-04-08
iii Wholesale Firms
Report Sales Jump
During February
Bank Review Reveals
Industrial Supplies
In Heavy Demand
BY EDWARD C. STONE.

higher, according to the Federal
Reserve Bank of Richmond's latest
report. All these firms, with tine
single exception of those handling
paper and paper products, enjoyed
larger sales, which aggregated SILL
229,000, compared with S9,863 900 in
February, 1899, and S10,907 900 in
January this year.
Sales of industrial supplies headed
the list of gains. with 81 per cent
advance over last year Wholesale
shoe business ran second, with 20
per cent upturn, while drugs stood
third, with rise of 10 per cent over
February, 1889. Auto supplies stooo
fourth, with 18 per cent more sales
than a year ago, the report dis
closes.
Electrical goods were in heavy de-
mand, these firms announcing Is
per cent improvement. Grocery
firms had IA per cent better sales
than year ago, while hardware
and tobacco and tobacco products
both reported 13 per cent more sales
than in February, 1899. Forty-nine
firms handling miscellaneous goods
boosted sales II per cent.
Dry goods sales were up per
cent; plumbing and heating also
showed 9 per cent rise. Paper and
paper products, the only line behind
last year. experienced drop of only
2 per cent, the Richmond bank says
In most of the lines net sales were
also above January, 1910, the aver
age gain of the 2l1 firms being 3
per cent. The most striking advance
was in the shoe business, a jump of
Is per cent, the review states.
d. c. Furniture Sales Climb.
Turning to the retail furniture
business, the Richmond bank re-
ports that retail sales in Washing
ton in February registered a gain
of 16 per cent and in the first two
months of the year were per cent
ahead of the like 1889 period
The average gain among 80 fur
niture stores in the fifth district
was 20 per cent in February and
IA per cent in the two months. Sales
were also 10 per cent ahead of jan
uary this year.
Richmond reported 20 per cent
gain in February but 7 per cent
drop in the two months. Baltimore
sales were up "a per cent and %
per cent in the two months. North
Carolina reported the largest gain
OF any State in the fifth district, a
jump of IS per cent.
Elsewhere in the report the pro-
duction of snuff in February is
placed at 3,144,55 pounds, an in
crease of s per cent.
Auditors Program Announced.
Arthur K. Schulz, assistant con-
troller, Chase National, will be one
OF the speakers at the regional con-
terence of bank auditors and con-
trollers at Baltimore. April 18 to 90
Among others on the program are
Lawrence M. Miller, Colonial Trust
Co. Baltimore Frederick P. Storm
Union Trust Co., Baltimore: Louis
w. Bishop, State-Planters Bank &
Trust Co.. Richmond; Lester A.
Pratt of Washington and E. S.
Wooley, New York accountant.
Dr. Edward Stone, economist with
the Federal Housing Administra-
ton, will be the banquet speaker.
Underwriters Are Listed.
In an amended statement filed by
the Washington Gas Light Co. with
the Securities and Exchange Com
mission covering the coming sale
of $4,000 shares of Az per cent
preferred stock, the underwriters
for the issue and their percentage
partlcipatiOns for the unsubscribed
shares are listed as follows:
Auchincloss, Parker g. Redpath,
90; Y. E. Booker & Co., 20; Brown,
Goodwin q Olds, 10; Folger. No
land & Co.. Inc, 20; Johnston,
Lemon & Co., 20, and w. w. Mackan
& Co., 10.
Other houses in addition to the
underwriters will have the stock
for sale. AS already announced, the
stock will first be offered to present
Washington Gas Light stockholders
and the unsubscribed balance to the
public at $103 a share.
Fifth District Sales Rise.
Retail sales in the Fifth Federal
Reserve District in the four weeks
ended March 30 were 4 per cent
ahead of the like period in 1899,
according to the latest report from
the Federal Reserve Board. Sales
in the first 13 weeks of this year
were per cent better than in the
three months year ago, the report
adds.
The fifth district record for the
four weeks is better than the ma
tional average gain of only l per
cent and also ahead of the three
months advance, which in the 12
districts averaged per cent. At
lanta led all districts in gains in
both periods, 10 and per cent, re-
spectively.
The auditor section of the District
Bankers Association will meet
Thursday at the Lee House. The
speakers will be Louis C. Pimper,
American Security & Trust Co., on
computation of Interest on Notes."
and John c. ChynoWeth, of the
same trust company, on "Accrual
Baltimore conference will be dis
cussed.
Safeway Stock Plans Ready.
SafeWay Stores, Inc, in an amend
ment filed with the Securities and
Exchange Commission. states that it
will offer its issue of 147,688 shares
of S per cent cumulative preferred
stock, S100 par value, to the public
at $l08 per share.
According to the amendment, the
preferred stock will be first offered
to holders of the companys 6 per
cent and per cent preferred who
deposit certificates of redemption
and the unsubscribed portion will
then be offered to the public.
Financial District Comment.
Capital Traction SIS were in de-
mand on the Washington Stock