Evening star., 1941-04-18
Capital Store Sales
Soar 81 Per Cent
Above Year Ago
Final Week Before
Eoster Brings Huge
Increase Here
BY EDWARD C. STONE.


scared 50 per cent above the cor
responding week a year ago, the
Federal Reserve Bank of Richmond
announced today.
The astonishing sales advance
was due to two chief reasons, this
difference in the date of Easter
this year and last and the marked
rise in Washington's shopping pop
ulation since April, 1910.
Sales in Washington were practi-
cally the same in volume as in the
previous week this year, the report
said. Sales in the whole fifth dis
trict were rs per cent better than
year ago and per cent above
the previous week in 194l.
Baltimore reported a 68 per cent
gain. and group of other cities
experienced a "a per cent advance
over the week ended April 13 6
year ago. Sales in Baltimore were
also up 9 per cent over the previous
week this year.
In the four weeks ended April IL
Washington department store trade
was 81 per cent better than a yeal
ago, was up IS per cent in the fifth
district, 80 per cent in Baltimore
and 40 per cent in the group OF
other cities, today's report stated.
Bank Stocks Very Steady.
Bank stocks listed on the Wash
ington Stock Exchange have dis
played firm quotations as we'll as
limited sales in all recent sessions.
Holders seem to take little interest
in present bids.
The latest bid for American Sc
curity & Trust stands at 230 with
239 asked. The Bank of Bethesda
bid stands at 80; National Capital,
ITO; Commerce g. Savings, 325;
Liberty National, ITO, with 200
Asked; Lincoln Nation, 200; Ma
tional Savings & Trust, 200, with
$40 asked; Prince Georges Bank &
Trust Co., 20 and 25; Riggs common,
274 bid and $50 asked; Riggs pre-
ferred. 1O11a bid; National Bank OF
Washington. 100; Washington Loan
& Trust, 225 bid and 235 asked.
+ Washington banks stocks sold over
the counter are also displaying firm
price tendencies. AnacoStia Bank
carries a bid of 160; City Bank, q
bid: Columbia National, 1877 bid
and 2O5 asked; East Washington
Savings, Is bid; Hamilton National,
2e bid and 81 asked; Munsey Trust,
IS bid: National Metropolitan, 283
bid and 300 asked; Second National.
80 bid; Security Savings & Com
mercial, 165 bid and 1876 asked;
Suburban National, 1874 bid; Union
Trust. rs bid and 385 asked.
Davis Assumes New Post.
Chester c. Davis, for man years
a member of the Federal Reserve
svstem's Board of Governors, be-
came the new president of the Fed
eral Reserve Bank of st. Louis as
of Wednesday, the Reserve Board
has announced. A. G. Black, now
governor of the Farm Credit Ad-
ninistration, is among many can
didates mentioned as possible sue
cessors on the Reserve Board here.
New National Dairy President.
Washington stockholders were
much interested in the announce
ment that L. A. Van Bomel, Tor
several years executive vice presi-
dent of the National Dairy Products
Corp. has been elected president,
President Thomas H. Mc1nnerney
being made chairman of the board.
The company has two units IN
Washington, Chestnut Farms and
Chevy Chase Dairy.
. President McInnerney has been a
freouent visitor here and has many
personal friends in the financial
district. At yesterdays meeting he
reported an per cent gain in sales
In the first quarter.
Insurance Form Explained.
II. D. Van Gils, manager, marine
agency department of the Auto
mobile Insurance Co. and the
Standard Fire Insurance Co., Hart
ford, was the guest speaker at the
monthly meeting of the Insurance
Club of Washington, at the Lee
Sheraton Hotel, Wednesday evening.
He spoke on the new personal prop
erty floater form of insurance.
The speaker was introduced by
Guy E. Mann, manager of the local
office of the Aetna Affiliated Cos.
Howard Eales, club president,
presided.
Takoma Credit Office Opened.
E. j. Kleeman has been named
manager of the new Takoma Park
Office of the Universal Credit Co.
which has just been opened at %
Carroll avenue. He has been in the
automobile business for years. The
company handles Ford automobile
financing. This is the companys
235th Office to be opened. 1t will
have large personnel, some of the
employees being transferred here
from Philadelphia.
Loan Association Head Dies.
AS noted elsewhere in today's
Star, Eckert j. Sacks, president of
the Washington Permanent Build
ing ASSOCldIlOn, anu Olle Ol lile
founders back in 1881, died early
today, aged SO years. He had long
and very successful career. 1t is a
coincidence that Mr.. Sacks and John
B. Harrell, president of the Column
bia Federal Savings & Loan Associa-
ton, who died last Sunday, aged rs,
were born on the same day, Feb
ruary 5, although not in the same
year.
Financial District Comment.
A small sale of Washington Gas
Light preferred stock took place on
the Washington Stock Exchange
today at 1882. Washington Gas
common is now being quoted ex-
dividend on the exchange at 19 bid
and 81 asked.
In the first two months of this
year the Pennsylvania Railroad
earned 40 cents per share on COM
mon, against only % cents share
year ago.
From January through April
Il, department store sales in the
Richmond Reserve district were 81
- g T.. 80 D1