Evening star., 1941-08-15
Capital Store Sales
Soar 55PerC Cent
Above 1910 Levels
Fifth District Gain
Of so Per Cent Cited
By Richmond Bunk
By EDWARD c. STONE.

by LDN hAD ~. SIONL.
"a Retail sales in Washington de-
partment stores continue to register
startling advances over the like
periods year ago, the Federal Re-
serve Bank of Richmond announced
today.
Sales in the Capital stores for the
week ended August 9 ran 30 per
cent ahead of the comparable week
a year ago. the report said. Sales in
the whole Fifth District were up 6C
per cent. rose 68 per cent in Balti-
more and 4S per cent in a group OF
other cities.
Washington sales we're also l5 per
cent higher than in the previous
week this year. Sales in the Fifth
District were up 26 per cent, in
Baltimore 40 per cent and in the
other cities q per cent.
In the four weeks ended August
g. cumulative sales in Washington
were SO per cent above the mark of
q year ago. same as the gain for the
Fifth District; 81 per cent in Balti-
more and 38 per cent in the group
of other cities, the Richmond review
says.
i Peoples Declares Dividend.
X Directors of Peoples Drug Stores,
Inc, Yesterday declared the quar-
terly dividend of 40 cents per share
6n the outstanding stock. 1t was an
nounced at the head Office today
The disbursement will be made on
October to stockholders of record
September 8.
= Ronald Ransom, vice chairman of
the Board of Governors of the Fed
eral Reserve System, presided at
Yesterdays meeting of Reserve Bank
officials for discussion of the regula-
tions on installment credit. Chair
man Mariner S. Eccles outlined the
purposes of the regulations "as a
supplementary step in the Govern
nent's program to combat imitation. -
The IL Federal Reserve Banks and
"a branches will be used in admin
ktering the new credit rules which
will be of intense interest and i'm
portance to all bankers.
I Bankers Plan Mortgage Clinic.
A Real Estate Mortgage Clinic
sponsored by the savings division
Of the American Bankers Associa-
ton for banks in Delaware, the Dis
trict of Columbia. Maryland. New
Jersey and Eastern Pennsylvania
will be held in Philadelphia, October
3o-3l. it is announced by Roy r
Marquardt, president of the division
and vice president of the First Ma
tional Bank, Chicago.
The sessions will be held under
the direction of Ernest M Fisher
head of the A. B. AS department OF
research in mortgage and real estate
finance. There are 1895 banks in
the area included.
William L. Beale, vice president
and real estate officer of the Ameri-
can Security & Trust Co., is g
member of the Committee of Ar
rangements, as is S. Nelson Page
vice president of the. Savings Bank
of Baltimore
Bank Auditors to Convene.
Arthur ]. Linn. controller of the
Hamilton National Bank, announced
today that the National Association
of Bank Auditors and Controllers
will hold this years convention
October 8-11 at the Palmer House
In Chicago. Mr.. Linn is a former
president of the organization.
Among those scheduled to speak
are Mark A. Brown, vice president
of the Harris Trust g. Savings Bank,
Chicago: Mills B. Lane, first vice
president of the Citizens and South
ern National Bank, Atlanta; Clifford
S. Young, president, Federal Reserve
Bank, Chicago; j. Stanley Brown,
personnel director. Chemical Ma
tional Bank e. Trust Co.. New York;
Harvey L. WEIGH. vice president,
First National Bank, St. Louis: DR..
Paul F. Cadman, A. B A. economist.
Several members of the Auditors
Section of the District Bankers As
sociation expect to attend the ses-
sions.
Heard In Financial District.
J In the first six months of this
year the Atlantic Coast Line Rail-
road earned $5.92 a share on the
common stock. This compares with
q net loss of s1,142,845 in the first
half of 1910.
| F. H. Weaver, jr., assistant cashier
of the City Bank and manager of
the Southeast Branch. is on his
vacation. Mrs. M. H. Buckingham,
cashier, is on motor trip in Con-
necticut. w. H. Mehler, jr.. as
sistant cashier, also is taking his
vacation.
George M. Ferris, president of the
Washington Stock Exchange and
member of the firm of Ferris, Ex-
nicios e. Co., is taking his vacation
and is now at Cape May, N. j.
Marshall o. Exnicios, member OF
the same investment firm, is passing
a short vacation in New Hampshire
Maurice M. Solomon, Washington
agent of the Mutual Life Insurance
Co. of New York, led all the agents
In the whole United States in pro-
duction in July. He has been in
the business 20 years.
Jackson Resigns Directorship.
Robert H. Jackson. associate JUS
tice of the United States Supreme
Court, has resigned as director oi
the Bank of Jamestown, N. Y, a
post he has held since 1919.
A year ago. while United States
Attorney General. he submitted his
resignation. but withdrew it at the
request of C. George Niebank, presi.
dent of the institution.
fwift and cudahv Rnnsf