Evening star., 1940-01-09
Sharp Gains Scored
In Fifth District
Wholesale Trade
Rise of Is Per Cent
In November Shown
By Bank Summary
By EDWARD C. STONE.

Washington, in November scored a
substantial gain of l6 per cent over
November. 1898, according to reports
from 178 firms just summarized by
the Federal Reserve Bank of Rich
mond. Every one of u important
lines revealed gains.
Electrical goods topped the list by
skyrocketing 78 per cent over the
same month in the previous year,
wholesale demand for industrial
supplies jumped 81 per cent, and
shoe sales mounted "a per cent.
Paper and paper products, as well
as hardware, registered gains OF
II per cent while dry goods sales
were up 16 per cent. Plumbing and
heating sales advanced IA per cent
and miscellaneous sales by "a firms
rose 10 per cent
Drugs saw a gain of 9 per cent in
sales, Sc grocery firms did 6 per
cent more business than a year
ago. tobacco and tobacco products
sales moved up per cent and busl-
ness in auto supplies improved by 2
per cent.
While wholesale business was
picking up substantially, retail sales
were also improving. Furniture sales
in SO retail stores in the fifth dis
trict were II per cent better than
year ago.
In this report Washington furni-
ture stores scored November gain
of per cent and an advance in the
II months of per cent over the
same 1888 period.
Furniture sales in Baltimore were
10 per cent higher in November and
9 per cent in the II months. Sales
in Virginia dragged in November.
but were still per cent ahead on
the year, the review disclosed.
Riggs Votes Extra Dividend.
Directors of the Riggs National
Bank, at their regular meeting late
Yesterday, declared the regular 'divl-
dend on the common stock of So
per share. as we'll as an extra divi-
dend of 81 per share, both payable
January Is to stockholders of record
January 8, President Robert V.
Fleming announced today. The reg
ular common dividend of So per
share, payable April Is to share
holders of record March 80 was
also declared.
The regular semi-annual dividend
was declared upon the preferred
stock of the bank, payable February
to stockholders of record at the
close of business January 8.
Mr.. Fleming announced that the
board had authorized the transfer
of 100000 from profit and loss to
reserve for retirement of preferred
stock account. wherewith to retire
by lot. in accordance with the
boards action, 1000 shares of pre-
ferred stock on March /, 1910, in
connection with which the books o.
the bank will close on January TO-
l940
Peoples Drug Sales Climb.
Sales of Peoples Drug Stores, Inc,
in the full year 1899 totaled S22, ,825,-
4477l in comparison with S21, 1885,
07629 in 1888. an increase of ST ,090.-
37l42, or sol per cent, it was re-
ported today at the head office of
the big chain system here.
Sales in December, 1889, amounted
to S2,6O3 ,2O6 o. against S2,475 1925
in December, 1885, notable increase
of S12761334, or Sis per cent, the
report stated
Todays figures are highly gratify-
ing to Peoples Drug officials as they
reflect a most satisfactory year and
also excellent holiday trade.
Fewest Bond Issues Since 1926.
The voters of the various States
and municipalities evidenced their
growing reluctance to authorize new
bond issues by the fact that during
the entire year 1889 total of only
SlO2 855,9l9 of new fotations was
approved.
This is the lowest total for any
year since the tabulation was first
begun in 1926 The only time the
yearly total ever fell anywhere near
last years total was in 1887 when
the voters authorized s165, 5,5ol ,054 of
new flotations. The 1888 figure was
S307 lit ,572.
In December, 1899, authorizations
amounted to s4,959,972, embracing
73 municipalities located in 25
States, according to the Daily Bond
Buyer, December totals for other
years we're s21 ,805.85O in 1888, So,
4lO,470 in 1887 and s9,420,867 in
1886
During December, projects involv-
ing s1,955 900 were defeated by the
voters of 80 communities in IA
States.
$4,000 Phone Salaries Noted.
The Federal Communications
Commission has reported that 568
telephone and telegraph officials
received salaries of $4,000 or more
in 1898, the same number as in
1887.
The number of such salaries in
the telephone industry increased
from SIS to $40, but there was a
decrease from SO to 48 in the tele-
graph industry
The report showed six telephone
salaries of s62,500 or more, and one
such telegraph company salary.
Using titles but not names. the
report listed 1913 American Tele-
phone e. Telegraph salaries of $10,-
600 or more, headed by the presi-
dents $206.250.
Heard in Financial District.
The Federal Reserve Board has re-
ported that the II Federal Reserve
Banks earned $12245, 900 last year
an increase of $2,660,000 over 1898
OF total, s8,1l0OO0 was paid out
in dividends to banks of the Re-
serve System and $4,l10.000 added
g. IS