Evening star., 1941-04-04
Capital Auto Sales
Above 1910 Levels
In February
Months Total Shows
AZ Per Cent Gain
Over Yeur Ago
BY EDWARD c. STONE.

2,3O2 registrations comparing with
1877 revealing gain of 40 per
cent. At the same time sales in
the first two months of 1941 num-
bered 4,415 new cars, against 3,347
a year ago, an upsWing of 80 per
cent, according to the fifth district
Federal Reserve Banks monthly re-
view just received from Richmond.
February sales in the fifth dis
trict totaled 81 ,621 cars, an increase
of 80 per cent over February, 1910,
while sales In the first two months
of 1941 numbered 44,983 cars, an
advance of 35 per cent, the review
says, quoting the R. L. Polk figures.
Maryland sales of 4,200 cars in
February were Al per cent ahead
of the previous year, while sales
for the two months of 1850 cars
were up 80 per cent. Virginia sales
in February of 4,280 cars were up
80 per cent, and sales of 10,4l9 cars
in the two months were 49 per cent
better than in 1910.
ID. c. Furniture Sales Climb.
Retail furniture sales in Wash
ington in February scared "a per
cent above February, 1910, and in
the two months the six reporting
stores ran % per cent ahead of last
year. The gain in the fifth dis
trict in the same two periods was
exactly the same as in Washington.
The same widespread February
prosperity in the Capital is reflected
In other indices in the banks re-
view. With S2,061,54 in building
permits, Washington led the dis
trict in valuations in February.
Permits issued in 80 cities in the
fifth district totaled S8,250,505. up
II per cent from February, 1910.
Contracts issued for all types of
construction in Washington in the
month of January, not available in
the last review, totaled $3.50 900,
against S2,52900O in January. 1910,
surprising jump of 278 per cent.
tReturning to February the Rich
mond review says that contracts
awarded in the fifth district totaled
S35 ,023, 900, and were 18 per cent
higher than in February, 1910, based
on the Dodge reports.
Check Activity Also Higher.
Debts to individual accounts in
Washington rejecting transactions
through the banks, rose 81 per cent
over February year ago. Pay rolls
in the Capital increased 0.6 per cent
over January in number employed
and 0.4 per cent in amount.
Sales of 70 department stores in
the fifth district totaled $10,550,615,
up IA per cent over last year, and
sales of 180 wholesale firms amount
ed to S11,999.000, up 10 per cent.
Business failures were practically the
same as last year in number, but
liabilities of $4,000 were 54 per
cent higher than in February, 1910.
Loans made for industrial, COM
mercial or agriculture purposes
jumped % per cent between the
middle of March last year and this,
the bank survey concludes.
Southern's Directors Relisted.
Retiring directors of Southern
Railway have been nominated for
reelection at the annual meeting of
stockholders called for May 20 at
Richmond, Va.
Nominees are John Stewart Bryan,
holder of record of five shares OF
common stock, and beneficial owner
of 300 shares of preferred stock and
$4,000 par value of bonds; Oliver
Iselin, no shares beneficially but
five common shares of record;
Gerrish H. Milliken, 100 shares OF
preferred beneicially and five shares
of common of record, and John K.
Ottley. no shares benef1cially but
five shares of common of record.
New Mackubin, Legg Partner.
Charles B. Quarles, manager of
the Washington office of Mackubin,
Legg & Co., New York Stock Ex-
change firm, announced today that
Joseph w. Sener, who has been
associated with the company for %
years, has been admitted to partner
ship.
Mr.. Sener is a member of the
Bond Club of Baltimore and the
Baltimore Security Traders Associa-
ton, and a former officer of the
National Security Traders Associ-
alton, which has headquarters in
Washington and which he helped to
organize. He has been head of the
firms trading department in over
he-counter securities.
Defense Assistant Named.
The Federal Reserve Bank of Rich
mond announces that Robert r.
West, now connected with the Uni
versity of Virginia and former presi-
dent of the Riverside and Dan River
Cotton Mills, Danville, Va, has been
named 5th Federal Reserve district
manager of defense contract service
of the Office of Production Manage
ment.
He will have an Office in the Rich
mond Reserve Bank and will do
all that he can to obtain subcon-
tracts for defense materials that can
be made in this district.
Defense Housing Bill Signed.
Banks and building and loan as
sociations have been notified of the
recent signing by the President of
House Bill 1915, which provides for
defense housing insurance by the
F. H. A., and adds a new title to the
Federal Housing Act.
A separate fund is created for the
insurance of mortgages by the Fed
eral Housing Administration in
areas in which the President finds
an acute shortage of housing exists
which would impair national de-
fense activities.
A mortgage to be insured must be
on urban, suburban or rural prop
erty on which is located a dwelling
designed principally for residential
use for not more than four families
in the aggregate, the construction of
which was begun after January /,
194l. Interest and premium rates
are the same as under Title II.
Todays Trading on Exchange.
Columbia Title Insurance Co.
figured in small sale on the Wash
ington Stock Exchange today at
1872. Peoples Drug Stores common
CT, lo