Evening star., 1940-01-13
Capital Store Sales
Jump 14.3Per Cent
In Week Over 1899
Bank Also Reports
Guin in Four Weeks
Ending January 6
BY EDWARD C. STONE.

cHuIn9 January Q
BY EDWARD C. STONE.
Department store sales in Wash
ington stores in the week ended
January 6, 1910, were 143 per cent
greater than sales in the week ended
January 7, 1899, and were 202 per
cent more than sales in the preced-
ing week, ended December 80, 1899,
the Federal Reserve Bank of Rich
mond reported today.
Cumulative sales in Capital stores
In the four weeks ended January 6
also revealed improvement. averag-
ing rs per cent above sales regis
tered in the four weeks ending
January last year.
All three Washington gains were
ahead of the average for the whole
fifth district which recorded a l3 per
cent gain for the week ended Janu-
ary 6 over the same week a year
ago. a IS per cent advance over the
week ended December 80, 1899, and
9 per cent in the four-week period
over sales year ago.
Today's report followed the Rich
mond Banks announcement earlier
in the week that retail trade in
Washington for the full year 1899
was As per cent better than 1888
and that December holiday business
was 1.6 per cent above December,
1898. The fifth district gain was
foy noao,,,Jor o,,l oosot
for the year, about what had been
forecast during the Christmas rush.
The Federal Reserve governors re-
ported this week that the boards
index for department store sales in
the IL districts advanced to 96 in
December, the highest level in re-
cent years. 1t stood at 89 in De-
cember, 1888.
Cadman A. B. A. Economist.
Announcement of the appoint
ment of DR.. Paul F. Cadman, San
Francisco, as economist of the Amer
lean Bankers Association, is made
by President Robert M. Hanes. He
will be economic adviser to all de-
partments of the association.
DR.. Cadman graduated from the
University of California in 1915. He
served with the Volunteer American
Ambulance Service in France dur
ing 1916 and was captain of field
artillery in the I'd Division of the
American EXpeditionary Force in
1917-18. He remained in France for
study after the war and received the
degree of doctor of laws from the
University of Paris in 1922.
Dr. Cadman returned to the Uni
versity of California in 1923 as pro-
fessor of economics. From 1929 to
1888 he was executive secretary of
the San Francisco Stock Exchange.
From 1886 to the present he has
been president of the American Re-
search Foundation. He was lee
turer at the graduate school of
banking session at Rutgers Univer-
sity last summer.
Real Estate Bonds Improve.
Several Washington real estate
bonds improved during the month
of December, among them Hamilton
Realty Corp. lst SIS which moved up
a point National Press Building
1st IS, 1856, gained two full points,
and Washington Properties, Inc.
general Is climbed IA points. Ma
tional Press Building 1st 3-5s, 1850,
dropped half a point during the
month.
These quotation changes are
noted in the Amott-Baker bond
averages which show that bond
issues in the District Jared better
than a good many issues in other
cities. Only one other bond in the
miscellaneous list showed a point
gain during the month, Dallas Park
Apartment SIS, at Miami. Looking
at the full year 1899, the review
says:
The 200 issues used as the basis
for the Amott-Baker Realty Bond
Price Average indicate that during
1899 these security prices dropped
from a price of 1884 per $1,000 to
$314 per thousand or a decline of
60 per cent.
Issues secured by Housekeeping
Apartments rose in price in 1889
and in December, the years increase
being 80 per cent and the months
09 per cent. Hotel issues lost lib
per cent and are now at $305 per
$1,000. Office building lost 10.4 per
cent. Theaters gained l per cent
in the II months and are now
selling at $7O6, the highest average
of any type
Thrift Week Starts Wednesday.
Honoring Benjamin Franklin,
American statesman and eXemplar
of personal foresight, many financial
institutions will celebrate National
Thrift Week." beginning on his
birthday, January II, T. D. Webb,
vice chairman of the Federal Home
Loan Bank Board. announced today.
For nearly 20 years during Ma
tional Thrift Week, financial insti-
tutions of all types have been placing
special emphasis on the value and
the need for regular saving by the
individual" he said. "The press, the
platform, the mails and the radio
have been employed to spread this
gospel No more proper observance
of Franklin's birthday could be
made, for he was the first to show
the people of America how to plan
their lives in order to reap the re-
wards of their labor.
In many parts of the country, Ma
tional Thrift Week has been success
fully observed with the cooperation
of savings and loan associations,
banks, insurance companies, civic
groups and churches and schools.
Bankers to Display Speed.
Washington Chapter, American
Institute of Banking, will hold its
annual adding machine contest next
Wednesday evening in the chapter
rooms. Each bank will be allowed
three contestants and each branch
bank one contestant. Elimination
contests for the finals will he held