Evening star., 1941-08-07

IL
May -- 2,241 ,00909 1875, ,124.78
June --- 2,l4o,24392 1865, ,094.2 %
July -- 2,240, ,90468 1,911.345.69
With a single exception. net sales
crossed the $4,000, 900 mark in every
month this year while in the first
seven months of 1910 they did not
reach that figure in any month.
wholesale Trade Climbs.
Wholesale trade reported by 1875
firms in the 5th Federal Reserve
District in June scared As per cent
ahead of net sales a year ago, the
Richmond Reserve Bank has just
announced.
Wholesale business in electrical
goods led all other lines with a re-
markable gain of 109 per cent over
June Of last year. The demand for
shoes stood second in the list, with
an increase of 104 per cent over last
wear in the same month.
Reports for other lines were also
impressive, sales of industrial sup
plies being up 81 per cent, automo-
tive supplies 81 per cent and dry
goods 81 per cent. Hardware sales
were 40 per cent better than last
wear. groceries showed a l3 per cent
increase, paper and paper products
3s per cent, and tobacco and tobacco
products II per cent over June, 1910.
Fifty firms reported miscellaneous
sales up 50 per cent, the banks sur
vey concludes. The gains in most
lines are among the largest ever re-
ported for any month on record and
reflect tremendous buying power in
this territory.
Turning to retail furniture sales
the report states that sales in WASH
ington stores in June were 45 per
cent ahead of last year and dis
closed a Jump of 38 per cent in the
first half of the present year over
the like 1910 period. Sales in Al
stores in the 5th district were up 81
per cent in June and % per cent
in the six months.
Robey A. /. b. Finance Head.
Francis E Robey. cashier of the
Bank of Commerce and Savings, has
been appointed by John M. Christie,
president of Washington Chapter
American Institute of Banking
chairman of the Finance Commit
tee. He is a past president of the
chapter and has been very active in
institute affairs for years.
Other members of the committee,
all past presidents of the chapter,
include Edward NJ Blaiklock. WASH
ington Loan g. Trust Co.; John r.
Fitzpatrick. Second National; Will
liam H. Laughlin, Washington Loan
81 Trust, and Paul J. Seltzer,
American Security & Trust This is
one of the chapters most important
committees.
Crop Outlook Fair to Good.
The Federal Reserve Bank of
Richmond's s monthly review says of
crop conditions:
Agricultural prospects are fair
to good in the 5th district. The
weather early in the season was very
dry in most of the district, and early
crops such as hay, Irish potatoes
and truck suffered severely, but gen.
eral rains fell in June and the first
half of July, and if weather is favor
able the balance of the season, most
OF the backwardness in corn, to-
bacco and cotton, the three lead
A,,~ na M RI
With higher Government pay
ments to farmers in prospect, and
advancing price tendencies evident
for many farm products and live
stock, cash returns from farming
should be relatively good in the fall
and farmers should be in position
to continue in the market for con-
sumner goods
Needham Speaks at Seattle.
D. J. Needham OF this city, general
counsel of the American Bankers
Association, was to address the 18th
regional A. B. A. Trust Conference
at Seattle, Wash. today. on Events
in the Nations Capital" He will
return to Washington shortly.
Harry W. Finney, partner in the
investment firm of Y. E. Booker &
Co, is taking a short vacation at a
Chesapeake Bay resort.
Secretary Morgenthau is pleased
with the large sales of tax antIcipa-
ton notes. reporting that a single
firm has already taken $4,000 900 OF
the notes.
Financial District Comment.
c. H. Pope, president of the Mum
sey Trust Co., Is passing the major
part of his vacation at Goshen
N. Y.
Martin A. Cook. secretary of the
Enterprise Building Association, il
taking a vacation in Massachusetts
Edward K. Jones, secretary of thu
Interstate Building Association, ha!
returned from vacation in South.
ern Maryland.
Thomas R. Harrison, assistant
secretary of the Eastern Building
& Loan Association, is on an outing
at Capon Springs, w. Va.
Today's Trading on Exchange.
American Telephone rights solt
on the Washington Stock Exchange
today at 1882 and at l s-32,
Washington Railway & Electric
preferred moved at 1157s. while 81
shares of Capital Transit sold al
l511 and three more at 1873.
American Security e. Trust Co
stock came out at 2311s and Ana
costa & Potomac modified 3&s re-
corded a 81 900 transfer at 107h.
Bond Issues Total S6,518,600
During the month of July. tht
voters of 73 communities located II
"a States approved a total of S..
518,6O0 of new bond issues as com
pared with s4,146,937 during July
1910, according to The Daily Bont
Buyer. All of the items approved
were in amounts of $650,000 o.
under.
Prince Georges County, Nd. will
receive bids September % for $500,
600 public school bonds, at not ex
ceeding B per cent, dated October
and due 1S42-61.