Evening star., 1941-02-07
Capital Store Sales
Hold Well Above
Same 1910 Week
23 Per Cent Increase
. Reported by Richmond
Reserve Bank
By EDWARD C. STONE.

advances III Tie WIEN CIloCu L TCOA u
ary |, the Federal Reserve Bank of
Richmond announced today.
Sales scared q per cent above
the corresponding week ended Feb
ruary 3, 1910, compared with a gain
OF 10 per cent in the whole fifth
district in the same period. Sales
we're up u per cent in Baltimore
and jumped 30 per cent in a group
Of other cities over the comparable
week a year ago.
Sales in Washington stores were
10 per cent ahead of the previous
week this year which ended on
January 25. The fifth district en-
jbyed per cent gain, group OF
cities a 81 per cent advance, while
sales in Baltimore were off 3 per
cent from the preceding week.
fTotal sales in the Capital IN the
fbur-week period ended February
L we're % per cent better than
year ago. were 10 per cent higher
in the fifth district, l3 per cent
ii Baltimore and % in the average
for several other cities, compared
with the four weeks ended February
3f194O, the Richmond bank survey
disclosed.
Biased on the weekly reports, the
complete summary for 81 depart
nfnt stores in the fifth district
Should reveal a very substantial
sizes gain for January. Preliminary
fsures indicate a retail trade boom
Of no small proportions.
Wholesale Trade Climbs.
FThe Federal Reserve Bank of
Pachmond'S January review records
atsales gain of IA per cent among
Is wholesale firms in this area IN
december. Wholesale demand for
electrical goods was up At per cent
oier December a year ago and sales
iT industrial supplies climbed SO
per cent
Auto supplies at wholesale were in
heavy demand, % per cent better
than a year ago. Hardware sales
we're up l6 per cent, paper and paper
products, tobacco and products and
miscellaneous sales, all IA per cent.
Shoe sales improved 13 per cent,
drugs 2 per cent, dry goods 7 per
cent and groceries 4 per cent. Nat
urally there was a letdoWn in sales
compared with November this year,
holiday buying being largely in ad-
vance of December. The December
report was one of the best in 1910.
Brown Visits Stockholders.
President Lewis H. Brown OF the
,bhns-M -Manville Corp, arrived in the
Capital today for meeting with
the stockholders in this territory.
The meeting was scheduled for
pm. at the Washington Hotel, the
annual report to be presented, mo-
taon pictures and charts shown
bearing on the company's business
and concluding with quiz period.
The Chicago, Milwaukee & St.
Paul R. R. opened an office in the
Shoreham Office Building today,
With C. C. Burns newly appointed
district manager. He has been a
travelling passenge~ agent with head
Quarters in Philadelphia and is al
ready we'll known in rail and travel
circles here.
AThe annual meeting of the Wash
Mgton Gas Light Co.. set for last
Monday, was postponed until March
Tor completion Of the auditing of
the financial statement. At the
eoming meeting the stockholders will
spte on the company's proposal to
issue at various times 10000 shares
of S4.25 preferred stock to meet ex-
pansion needs.
ID. c. Furniture Sales Mount.
Retail furniture sales in six i'm
portant stores in Washington in
December were 27 per cent higher
than in December, 1899 and in the
full year 1910 were u per cent bet
ter than in the previous year, the
Richmond Reserve Bank reports.
Sales in Maryland in December
gained % per cent and wound Up
1940 with a IS per cent rise over
1889. Retail sales in Virginia showed
a 10 per cent gain in December and
an improvement of 8 per cent for
the full year 1910 over 1899. Rich
fnond sales were up 2 per cent in
both periods.
Washington gains were better than
the fifth district average, which
was IT per cent higher in December
and II per cent in the II months,
compared with the two 1889 periods,
the survey SAYS.
Latin American Bonds Studied.
Dollars in Latin America" a
study of Latin American defaulted
bonds and affiliated problems, has
Just been published by the Council
on Foreign Relations. New York.
The authors are Willy Feuerlein,
formerly research fellow of the
council, and Elizabeth Hannah, for
merly research associate with the
council.
Economic collaboration with the
Latin American Republics is held
essential in plans of hemisphere de-
fense. Large investments of funds
are considered possible, this posi-
bility bringing into the limelight the
great number of Latin American
doIIT bonds now in default.
Abe authors have tried to chart
the attitude that should be taken
toward countries whose bonds have
caused losses to United States citi-
Zens
Heard in Financial District.
State and municipal financing for
January aggregated s66.675,037 as
compared with S61,589,424 during
January. 1910, according to the
Daily Bond Buyer. The revised total
for December of 1910 was S201,-
537,994.
Jerome N. Frank, chairman of the
Securities and Exchange Commis-
sion, will be the principal speaker
March 7 at the annual dinner of the
New York Security Dealers Asso-
citation at the Hotel Commodore.
Washington Gas Light preferred
stock sold at LOG on the Washington
Stock Exchange again today. Mer-
genthaler Linotype appeared on the
board at 231s and Capital Transit
registered 1872. All were small sales.