Evening star., 1940-01-20
Capital Store Sales
Mount 8.3 Per Cent
Above 1899 Week
Even Larger Advance
In Four-Week Period,
Bank Review Shows

In Four-Week Period,
Bank Review Shows
BY EDWARD c. STONE.
Department store sales in WASH
lngton are moving along at a lively
pace and bid fair to exceed the marks
of January, 1899, according to re-
ports from the Federal Reserve
Bank of Richmond announced to-
day.
Sales in the Capital for the week
ended January 13 were 8.3 per cent
greater than sales in the week ended
January IA, 1899. This weeks re-
port follows one a week ago which
disclosed an advance of 14.3 per
cent over the corresponding week
in 1889.
Sales, however, for the week end
ing January l3 were IL per cent
lighter than for the previous week
this year, the review shows. Cumu-
lative sales in the four weeks ending
January made the best record, being
80 per cent ahead of the like period
a year ago.
The Washington record is not
quite as good as that for the whole
fifth district. For the week ended
January 13 this whole territory
gained 10 per cent in sales over the
same week year ago, advanced l
per cent over the previous week this
year and climbed II per cent in the
four weeks ended January 13 over
the like 1899 period, the Richmond
Bank stated.
Takoma Park Bank Elects.
Stockholders of the Citizens Bank
of Takoma Park elected the follow
ing directors at the annual meeting:
j. Douglas Bradshaw, T. K. Bur-
rows. H. ]. Carr, Harry Glickman,
Harry I. Houston, Donald D. La
mond, L. v. Lampson, Robert E.
Lohr, Robert NJ Lyon, Thomas Man.
ley, S. E. McNeill, c. A. Reed, E.
L. Richmond, c. E. Schofield, A. H.
Smith, Dwight L. Smith and o. w.
Youngblood.
The new board elected L. v. Lamp
son, president; G. A. Reed, vice pres
ident; H. j. Carr, vice president
cashier; Robert NJ Lyon, assistant
cashier, and Donald D. Lamond, gen.
eral counsel.
In making a report, Mr.. Lamp
son pointed out that in four years
the banks assets had grown from
$3.50, 900 to $1,412,412 and surplus had
jumped from the original $12,50O
to $35,000. This bank recently paid
regular dividend of l per cent
and special dividend of l per cent
to its stockholders of record De-
cember Is.
Hanes Brothers on Program.
John w. Hanes, formerly Under
Secretary of the Treasury; Robert
M. Hanes, president of the Ameri-
can Bankers Association: Elmo
Roper, of Fortune Magazine; Laur-
ence G. Tighe, assistant treasurer
of Yale University; Holgar johnson,
president of the Institute of Life
Insurance, and Fitzgerald Hall,
president of the Nashville, Chat
tanooga and st. Louis Railway are
announced as among the speakers to
be heard at the 2lst Mid-winter
Trust Conference of the American
Bankers Association to be held at
the Waldorf Astoria, New York, Feb
ruary 1915, by Roland E. Clark,
president Of the A. B. A. trust di-
vision.
The conference is expected to at
tract 1000 trust executives from
all over the country.
Bank Sections to Meet.
The next meeting of the safe de-
posit section of the District Bankers
Association will be held Tuesday,
In the board room of the American
Security & Trust Co., it was an
nounced today. F. w. Blaydes, jr,
Washington branch manager of the
York Safe & Lock Co., will speak on
"Safe Deposit Leases and Their ALL
ments." T. Eugene Elgin will pre-
side.
D. j. Needham, general counsel
Of the American Bankers Associa-
ton, will address the fduciaries Sec
tion of the District Bankers As
sociation at dinner meeting next
Thursday evening at the Washing
matters and trends in banking.
The Federal Home Loan Bank
Board announced today that divi-
dends totaling $1.988,038 were paid
by the IL Federal Home Loan Banks
on their capital stock for the year
1899.
New A. B. A. Credit Deputy.
Establishment of a consumer credit
department by the American Bank
ers' Association to serve the needs
of the several thousand A. B. A.
member banks engaged in the ex-
tension of instalment loans to the
public is announced by Robert NJ
Hanes, president of the association.
Walter B. French, vice president of
the Trust Co. of New Jersey, Jersey
City, has resigned from that institu-
tion to become deputy manager of
the A. B. A. in charge of this depart
ment.
Mr.. French is an authority on con-
sumer credit in banks He is grad
uate of the New York chapter of the
American Institute Of Banking and
the Graduate School of Banking
conducted by the American Bankers
Association For his graduation from
that institution in 1888 he wrote
thesis on Small Loans-An Invest
ment for Banks" which has become
a nationally recognized work in the
consumer credit field, has been pub
lished in book form. and has had a
wide sale.
Rural Sales at Peak in 1899.
Sales of general merchandise in
rural areas expanded considerably
during December, as measured by
the Commerce Department season.
ally corrected index of small town
chain store and mail order sales.
December volume for the trade COW
cred by the index was the best on
record; it was about one-sixth larger