Evening star., 1940-05-07
200 Wholesale Firms
In This District Lift
March Sales Slightly
Bank Review DiscIoses
Best Percentage Coins
In Industrial Supplies
BY EDWARD C. STONE.

OF Rlchmond's latest review. Sales
were spotty. quite number of de-
creases appearing. The advance over
February of this year was 6 pei
cent.
Industrial supplies led sales in
March, with 81 per cent pickup
over the like 1899 period. Electrical.
goods sales came next with a IL
per cent rise. Miscellaneous sales
by As firms took third place with q
4 per cent Improvement Wholesale
dry goods business was / per cent
better than last year, sales by sc
grocery concerns were 8 per cent
higher and hardware sales moved uI
1 per cent.
Automobile supplies reported a
per cent drop in sales in March
but a gain of 4 per cent over Feb
ruary. Shoe sales were off IA pei
cent, drug sales were the same as
last year, plumbing and heating
demand was down IA per cent, paper
and paper products per cent To-
bacco and tobacco products were
in the same demand as last year
but registered an 8 per cent upturn
from February, the review says.
d. C. Furniture Sales OFF.
The Richmond Bank also reports
retail furniture sales, showing that
business in Washington was off 1C
per cent in March but sales were
up 3 per cent in the first three
months OF 1910 compared with
1889.
Sales in 80 stores in the fifth
district were per cent better in
March than year ago, II per cent
better than in the three months
Maryland furniture sales showed
a II per cent rise in March and
18 per cent in the quarter.
Virginia scored good record with
al per cent upswing in March and
per cent in the three months.
The best retail furniture sales gain
in the fifth district was in South
Carolina, business mounting 25 per
cent in March and % per cent in
the quarter.
Peoples April Sales Off.
Peoples Drug Stores, Inc, re-
ported slight drop in sales in April
compared with April, 1889, but an
increase in the first four months of
this year.
Today's report stated that April
sales totaled $1,820.903.16, against
S1,867,0 ,03213 in April year ago. a
decrease of $46,12897, or 247 per
cent.
Sales in the first four months Of
this year totaled s7,452, 1886, COM
pared with $7,221O25.45 in the cor
responding four months of 1899, a
substantial increase of 1921 ,103 Ill,
or 800 per cent.
Peoples Drug sales in March
amounted to $1,948,53811, against
$1859,621 33 in March. 1888, run
up of $889l6.78, or 4.78 per cent.
Washington Gas Stock Listed.
The Board of Governors of the
Washington Stock Exchange today
listed for trading the recently offered
issue of 24,400 shares of Washington
Gas Light $3.50 cumulative con-
vertible preferred stock. This makes
10000 shares of preferred now listed
on the exchange.
The issue was placed on the mar
ket last week by syndicate of six
Washington investment houses as
underwriters. Common stockholders
were given the first right to subscribe
for the new stock, which was offered
at $103 a share and was heavily
oversubscribed.
No sales in Washington Gas
preferred were recorded today The
market closed with 104 bid and 10512
asked, the quotation being ex
dividend.
Park Savings Payments Start.
Receiver John F. Moran of the
Park Savings Bank has began pay
ment of about $220000 to special
group of depositors who had money
In the bank when the charter ex-
pired back in 1929. There are 5000
of these depositors.
About 1000 official notices are
being sent to the depositors every
day. They are calling for their
money at room 200 in the Riggs
National Bank Building at Four
teenth street and Park road NV.
Depositors have to present their
certificates to get their funds.
A payment of 1212 per cent was
made last December to all depos-
itors of the bank. AS soon as funds
are available. another dividend will
be paid to all depositors, including
the special group which is included
In the present distribution.
U. S. Stake In Scandinavia
United States exports to Norway
and Denmark alone last year, says
the Guaranty Trust Co., amounted
to $56,O0O,O0O, and if Sweden and
Finland are included, the total was
S166,OOO,O0O, or more than per cent
of total exports.
Imports last year from these four
countries totaled $88,000,000 and
consisted largely of wood pulp and
paper, ores and metals, fish and fish
oil, meats and cheese.
The United States has large
financial stake in these countries
Investments in Denmark are es-
timated by the Department OF Com
merce at s1O3,000,0 900, while invest
ments in Norway are placed at $92,-
100000 and those in Sweden at $685.
100000, making total OF 1921 ,0oo.-
600.
The investments in Denmark and
Norway consist mainly of dollar
bonds of the national governments
while all the know Swedish invest
ments represent the direct interests
of American companies in Swedish
enterprises.
Financial District Comment.
Emil Schram, chairman of the
Reconstruction Finance Corp, will
address the annual meeting of the
New Jersey Bankers Association
later this month. Harold Stonier
manager of the American Bankers
Association, will also speak.