Evening star., 1941-01-13
195 Wholesale Firms
Report Sharp GAINS
In Fifth District
Sales During November
Include One Upturn
Of ~ Per Cent
Bv EDWARD G. STONE.

firms in the fifth district showed
some sharp gains in November over
the same month in the previous
year, according to the latest report
from the Federal Reserve Bank of
Richmond.
Plumbing and heating supplies
enjoyed a sensational gain of "A
per cent, industrial supplies jumped
36 per cent. electrical goods % per
cent and automobile supplies 26 per
cent over November, 1889.
Wholesale shoe business was 6
per cent better than year ago.
drugs gained per cent. groceries
did S per cent more business, and
hardware sales were up 6 per cent
Paper and paper products were in 6
per cent better demand, tobacco and
tobacco products per cent. At
the same time as miscellaneous
wholesale concerns noted an i'm
provement of As per cent.
The 1875 firms experienced an aV-
erage gain Of u per cent in their
business in the month under re-
view. Wholesale dry goods firms
reported a small decrease of per
cent, the only classification to reg
lister any slump, the Richmond sur
vey discloseS.
Furniture Sales Mount.
Turning to retail business. the re-
port states retail furniture sales
in Washington in November showed
a 90 per cent rise and in the first
II months of 1910 moved up II
per cent. Seven big stores made
this glowing record.
Retail furniture stores in Balti-
more gained % per cent in No
vember and Is in the II months.
Virginia sales rose ID per cent in
November and per cent in the
longer period compared with the
previous year Richmond sales were
up and 2 per cent, respectively.
Washington stores made better
showing than the whole fifth dis
trict. The fifth district upturn was
13 per cent in November and II per
cent in the II months. in Al stores.
Bank Elections Tomorrow.
Stockholders of all the national
banks in the Capital will hold their
annual meetings tomorrow and elect
directors for the coming year. Sew
eral other banks will do the same.
In some instances the directors will
elect officers at once.
Annual reports on business dur
ing the past year will be presented
by the bank presidents or the chair
men of the boards. These are eX-
pected to be highly favorable, ac-
cording to statements by bank Of
ficials. Commercial loans have i'm
proved and other income has ex-
panded.
About the usual number of new
directors are anticipated To date
no important changes in officers
have been limited. Most of the meet
ings will be held around noon.
Real Estate Bonds Rise.
Washington Properties. Inc. gen.
eral rs, advanced Ia points in De-
cember; National Press IS, 1850,
gained a point, while Mayflower
Hotel first IS Jumped 4 points. Ma
tional Press 35s were down half
point
These bonds are included in the
Amott Baker price averages, which
include 200 issues in Eastern cities.
In December the average gain OF
the 200 issues was up or per cent.
This increase in December makes
the sixth successive month in which
these prices have shown an improve
ment. The average dollar price per
original $1,000 bond is now 1903,
which is only 3i2 per cent below the
1889 close of S314.
For the year Boston issues have
shown an improvement of l07 per
cent. This is by far the best show
ing Of any city. Boston issues. in
addition to showing the greatest
Improvement, are also selling at the
highest average price of S464 per ST.
900. Pittsburgh issues are at the
lowest average of 1929, the review
says.
Insurance Men Win Trips.
w. Neal McCord, Washington
manager of Atlantic Agency, Inc,
general agents for the Atlantic Life
Insurance Co. of Richmond, Va, has
gone to Florida to attend the annual
convention of leading producers of
the company at the Hollywood Beach
Hotel. In addition to qualifying for
the trip, Mr.. McCord earned other
awards, which will be presented at
the meeting.
Three other members of the Wash
ington office qualified for the trip,
John N. Buck and John G. Marsh,
agency directors, and Arthur G.
Ridgeway, special agent. More than
100 insurance men and members of
their families will be at the sessions.
Atlantic Life has had a Washington
office for 35 years.
Financial District Comment.
Mariner S. Eccles, chairman of
the Board of Governors of the Feo-
eral Reserve System, will address
dinner and business meeting of the
New York Financial Writers Asso.
citation at the Hotel Lexington on
January %.
The Mutual Fire Insurance Co.
of the District of Columbia has just
celebra ted the S5th anniversary. L.
Pierce Boteler, secretary of the COM
pany, said today that 1910 was one
of the best years in its history.
The Graham-Paige Motors Corp.
has filed an application with the
Reconstruction Finance Corp. for
a loan of S2OOO,0O0, according to an
amendment to its registration state
ment just filed with the Securities
and Excnange Commission.
The Federal Housing Administra-
ton announces that mortgage in
surance loan applications attained
q new peak in 1910, involving loans
totaling over 100000, 600 on 2l4,981
new homes, up 26 per cent in dollar
value and 81 per cent in number OF
homes over the 1889 mark
Fifty shares of Columbia Title
Insurance Co. stock sold at Is on
the Washington Stock Exchange to-
day. Washington Gas Light COM
mon again moved at 23a.
U. 5. Treasury Notes