Evening star., 1941-09-05

January ---------- loo, ,664 1920
February - 1927 lac, ,449
March ------ 1877 All 1858
April --------- 199, 1894 163,237
May -- 203,9l3 174,4n
June ---------- 181 .373$ 154,660
July ----- 155,39l 128,0l3
August ------- l70.43S 146,43l
Long-haul national defense traf-
fic of all varieties flown in and out
Of Washington during July boosted
air express gross revenue 81 per cent
over July, 1910, reports the Air Ex-
press Division of the Railway Ex-
press Agency. Shipments increased
So Der cent to 4,S33 from 3,153 in
July, 1910.
District Bank Debts Rise.
Check activity in Washington in
july. was seasonslly little slower
than June of this year, but was Is
per cent higher than year ago,
according to the Federal Reserve
Bank of Richmonds latest review
just received here. Debts to indi-
vidual accounts in July this year
100000 year ago.
There were only l6 commercial
failures in the fifth district in July,
totaling s1S0.000 compared with 81
failures in July year ago. involving
s756,000. There were II fewer fail
ures than in June of the present
year
Employment continued at very
high level in Washington in July
and early August, the report says.
The number on pay rolls gained 06
per cent from June and the amount
of pay rolls moved up % per cent
during August.
Considerable unemployment else
where in the fifth district Is expected
soon as a result of non-defense in
dustries to restrict or stop opera
tions because Of shortages Of raw
materials.
Auto Sales Ahead of 1910.
Sales of new passenger automo-
biles in Washington in July con-
tinued far ahead of the correspond
ing month last year, the report con-
tinues. The r. L. Polk figures show
that 3,4O7 cars were sold in the
District of Columbia in July against
2,695 year ago, an increase of rs
per cent. The gain in the whole
district was 36 per cent
Auto sales in the Capital in the
first seven months OF this year
totaled 1860 cars, against 1879 a
year ago, an advance Of 80 per cent.
In the fifth district, 22l,111 cars were
sold, an increase of 43 per cent.
Maryland sales were up 36 per cent
and Virginia registrations SO per
cent in the seven months.
Retail furniture sales in the Cap
ital in July we're 81 per cent better
than last year and in the seven
months were Al per cent higher than
a year ago, the review says.
Department store sales in the fifth
district in 70 stores reached $1,779,-
100000 in July rs per cent higher
than last year.
Washington led the fifth district
in July building valuations with per-
mits totaling S4,334,150.
Going back to June, the report
saws that construction contracts In
the Capital were 211 per cent ahead
of June. 1910.
Reilly Talks on Imitation.
John A. Reilly. president OF the
Second National Bank, and first vice
president of the District Bankers
Association, addressed the Cosmo-
politan Club yesterday on the effects
of imitation on national economy.
The greatest threat to economy to-
day is the probability of imitation.
the word probability being used
sdvisedly, ne said.
From now on signs definitely point
TO an all-out defense program which
will mean a greater enforcement OF
priorities and tremendous shortages
of material. This might well bring
about an infiationary movement be-
cause there will be great demand
for merchandise and a lack OF sup
plies. The Government is dong its
part to curb the infiationary move
ment by sponsoring the issuance Of
defense savings bonds and endeav-
oring to control consumer credit
through regulations of the Federal
Reserve system.
Bankers and business men should
make every effort to meet the
problems of defense and especially
begin to master a peace-time econ
ony which will be Of the first mag
nitude, Mr.. Reilly said.
Today's Trading on Exchange.
Capital Transit made another new
high mark on the Washington Stock
Exchange today when a single share
sold at 16ha. Later Is shares moved
at 1914.
Ten shares of Washington Gas
Light preferred sold at 1861, six at
1864 and four at 106 fiat. In. the
bond division, Capital Traction IS
were strong on a 81 900 transfer at
1861.
The exchange resumes Saturday
sessions tomorrow.
Financial District Comment.
Thomas j. Groom, president Of
the Bank of Commerce & Savings,
returned few days ago from q va
cation passed at North Carolina
resort.
r. Hunton Leith, cashier of the
Security Savings 81 Commercial
Bank, returned this week from va
cation spent in Hershey, Pa, and
vicinity.
Ralph Endicott, assistant treasurer
Of the Washington Loan & Trust
Co., has returned form an outing at
North Carolina beach resort.