Evening star., 1942-09-03

1870 IDlIlDdlt dS lDl4DNS, w lIIOlllllS
with the corresponding months last
year:
1912. 1941.
January -------- 1877 .361 165, ,664
February ---------- 179,o40 1921
March ------------ 2l6.823 197,411
April ------------- 202,116 199,894
May ------------ 1913, ,495 2O3 9l3
June -------------- 19l762 181, 1,373
July -------------- 1880 155 ,391
August ----- 1873 $50 170,438
Today's report indicates the same
unprecedented business activity in
the Capital as was reflected in Au-
gust bank clearings and postal re-
ceipts.
ID. G.. Stores Heavily Stocked.
Stocks of goods on hand in Wash
ington department stores at the END
of July were rs per cent higher
than at the end of July year ago,
the Federal Reserve Bank of Rich
mond announced today. Outstand-
ing orders for goods we're Is per
cent lower.
Marked improvement in collec-
tions was noted July collections on
open accounts were 56 per cent OF
amounts due at the beginning OF
the month, against al per cent a
year ago.
Collections on installments in
July we're 19 per cent of receiVables
on July l, against IA per cent a
year ago, the report added. July
sales were up 19 per cent and for
the seven months 26 per cent over
last year.
Real Estate Bonds Improve.
The Amott- Baker real estate
bond price average, covering 200
real estate securities, including sew
eral Washington issues, scored its
sharpest advance in six months dur
ing August. The increase for the
month was l.6 per cent, which COM
pared with a gain Of OF per cent
during July. .a
sOf1 August 81. the. average price
per $1,000 beTd stood at sS314s as
compared to 5000 on. July 81 and
1902 at the close of 194l The year
to-date gam tor tEhe,, averages was
SO per cent sHfSeaais
During August total of 88 is
sues Increased in price, "a remained
unchanged and only 26 declined,
the review states.
Brown Heads Security Traders.
William P. Brown of New Orleans
has been elected president of the
National Security Traders Associa-
ton, succeeding Joseph w Sener,
of Mackubin, Legg & Co, Baltimore.
He was one of the. founders of the
association.
Other officers elected at the an
nual meeting just held in Chicago
include John c. Hecht, Los Angeles,
first vice president; Benjamin H.
Van Keegan, New York, second vice
president; Edward Fl. WEIGH, Chi
cago, secretary; Earl M Scanlon
Denver, treasurer; Victor Moseley
Philadelphia, and Henry Arnold
Cincinnati, members of the Execu-
tive Committee,
Deposits Gain S3,844 900, 900.
Despite the requirement that ma
tional banks exclude interbank re-
ciprocal demand deposits, Controller
of the Currency Delano reports that
as of June 30 this year, there was
an increase of more than 1900.
100000 since April, 1912, and 1884,
100000 since June, 194l.
"a investments by banks in Govern.
nnent securities amounted to s14,.
$4,000, 900, being S2,i47 600, 900 more
than in April and s3,793, 900, 900 NOR,
than year ago.
Loans and discounts declined
amounting to S10902 900 900, de,
crease of $667, 900 900 since April ant
S20000,000 since June of last year
Investment Bankers to Meet.
L. Clark Brown. secretary.
treasurer of the Southeastern group
of the Investment Bankers Associa
ton announced today that the groul
will hold the annual meeting il
Washington this year, at the May.
flower Hotel, on September IA Thi.
will be an important session for in.
vestment dealers IN Washington
Maryland, Virginia and North Caro-,
lima.
.. Warren r. Forster, vice president
Hamilton National Bank, is attend
ing the bankers conference at tn,
University of Virginia. Victo
Kwong of the Chinese Embassy
Randolph E. Paul of the Treasury
Representative A. Willis Robertson
of Virginia and Donald S, Thomp
son, Federal Deposit Insuranc
Corp, are also present.
From nearby banks, also at Char
lottesville, are L. H Dudley, Alex
andria National; Miss Alice +
Whitton, Burke & Herbert Bank
Trust Co, Alexandria; E. F. Sher
wood, Arlington Trust Co; William
E. Robey, Old Dominion Bank, Al
lington: H. H Cooley. Round Hi
National, and H H. Hulfsh, jr
Fauquier National, Warrenton.
Gas Earnings for IL Months.
The Washington Gas Light c.
and subsidiaries report for the
months ended July 81 operatin
revenues amounting to S11,8138e
against S10,7l9,7 765 year ago.
Net income, after charges an
Federal income and excess profit
taxes, amounted to Sl,05635 {
compared with S1.310,725 in the
months ended July 81, l94l,
Capital Transit Stock Up.
In active trading on the Wash
tngton stock Exchange today, Cap
tai Transit stock sold close to IT,
high for the year. Two l00-shal
blocks and 10 and share lots move
at 2315 against 217s last week an
within an eighth of the high Tor tt
year.
The stock closed with 23A bi
and "a asked. Transit was the on
stock appearing in the days tradin
Bonds were neglected. bids for ever
issue In the list remaining far abo'
Gar.