Evening star., 1942-01-30
Capital Store Sales
m Per Cent Ahead
Of Year Ago
Four Weeks Volume
Is Per Cent Above
Same 1941 Period
BY EDWARD C. STONE.

Department store sales in Wash
ington for the week ended last Sat
urday, January "a, continued theil
astonishing 1912 start, running 6t
per cent ahead of the correspond
ing week a year ago, the Fedora
Reserve Bank of Richmond report
ed today. In che previous WeeH
and the week ended January 10 sale:
were up 40 per cent and in the
week ended January 8 were % pei
cent ahead of last year.
Todays report states that sales
In the fifth district last week were
Al per cent ahead of the like 1941
period, gained 80 per cent in Balti-
more and IS per cent in a group
Of other cities.
Sales in Washington were 8 pei
cent lower than in the previous
week this year, 9 per cent lower In
the fifth district, II per cent in
Baltimore and 10 per cent in other
cities.
In the four weeks ended last
Saturday trade in the Capital was
Is per cent ahead of last year, "a
per cent higher in the fifth dis
trict and % per cent in Baltimore
and other cities, the survey says.
Capital merchants today assigned
two chief reasons for the buying
rush. One is fear of a shortage OF
goods later and the other the growth
of the city, which has greatly in
creased the number of shoppers.
Orders for Store Goods Soar.
Merchants in Washington and the
rest of the fifth district evidently
expected a tremendous increase In
department store sales early this
year, judging by outstanding orders
for merchandise.
Washington stores had Sc per cent
more goods on order at the end of
December than on December 81,
1910, the Federal Reserve Bank OF
Richmond reported today.
Baltimore orders were up "a per
cent, Richmond "A, a group of other
cities 79, while the fifth district av-
erage stood at 78 per cent, the re-
port says.
Stocks of goods on hand in Wash
ington department stores at the end
of December were 81 per cent higher
than year ago, were up % per
cent in the fifth district, 90 in Rich
mond, "a in Baltimore and % in the
group of other cities.
Washington collections were good
In December, 80 per cent Of bills
due at the beginning of the month
being paid. The average for the
fifth district was 35 per cent, Rich
mond and Baltimore reporting the
same percentage. Trade in the
Capital was up II per cent in De-
cember and 20 per cent in the full
year.
c. e. P. Net Off Sharply.
Net income of the Chesapeake &
Potomac Telephone Co. in December
disclosed a sharp drop, totaling
S11,859, against S190,597 in Decem-
ber, 1910, a decrease of s178,738, &C
cording to the monthly report fileo
today with the Public Utilities Com
mission.
Operating revenues were higher
81 ,498, ,272, comparing with S1,209 ,39s
a year ago. However, operating ex-
penses were much higher, S1,218,641
comparing with S641 ,593, leaving net
operating revenues Of $279,63l
against $367,S06 a year ago. Oper-
ating taxes required $61,077. Nom
operating income was much less
than in 1910, while interest deduc-
tions required s9O,934, against SGT, TAI
Net income for the full year 1941
amounted to $1,509,16S, compared
with 1882 ,997, drop of $685. ,829
Operating revenues were 1888 per
cent higher than in the like 1910
period, but expenses, including
taxes, were 1924 higher. Interest
deductions also were considerably
higher, while incorporating income
was much lower.
There were 1924 telephones in
service at the end of December
which is an increase of 6,136 tele-
phones over the previous month
Telephone users made 3,007 900 calls
during the month, or 8,175,000 more
than in December, 1910.
Telephone Outlay $4,000, 900.
Expenditures for telephone plant
of 81 1,576 900, were authorized by the
directors of the Chesapeake & Poto-
mac Telephone Co. at their meeting
yesterday, C. A. Robinson, vice
president and general manager, an
nounced.
Indicative of the tremendous
growth of Government telephone
service. Mr.. Robinson pointed out
that about $936,OO0 will be spent to
replace three private branch eX-
change systems of Federal agencies
and s285 900 will be spent on addi-
tions to the equipment in four Gov
ernment systems.
The company spent on construc-
tion in the District of Columbia
during 1941 more than $4,000 00(
or 70 per cent more than in 1910.
Defense Bond Sale Stressed.
In his recent annual report Cor.
coran Thorn, president of the Amer.
lean Security & Trust Co., stressed
the great Importance to the ma
tional defense program of support
by the banks and the public of The
sale of savings bonds and stamps.
Mr.. Thorn said that the war ant
economic upheaval have made
Washington one of the most i'm
portant focal points in the world
In 1941 the trust company's growth
was materially helped by the largt
increases in population and thu
number of corporations and organ
izations which moved here.
Turning to the increase in loan
reported by many Washington bank
during 1941, Mr.. Thorn told thu
stockholders that the trust com
pany's loans and discounts showet
an increase of $2,221,715.92 in the l.
months.
In meeting the turnover in per
sonnel due to the war the bank ha
added ynapv uornen tn the staff a