Evening star., 1942-01-23
Capital Store Sales
40 Per Cent Above
Same 1941 Mark
Even Better Coins
Registered in Other
Ports of District
BY EDWARD C. STONE.

y
present sensational trade boom
showing 49 per cent advance over
the corresponding week a year ago
the Federal Reserve Bank of Rich
mond reported today. The 49 per
cent gain was exactly the same as
that of the previous week over
year ago.
Even better gains prevailed in
other parts of the fifth district.
Sales were up so per cent in the
whole district, so per cent in Balti-
more and reached 70 per cent in a
group of other cities. Compared
with the previous week this year
Washington trade stepped up per
cent, but the average for the fifth
district was down l per cent.
Cumulative department store sales
in the four weeks ended January II
are almost as surprising as the
weekly figures. Capital sales were
up As per cent, sales in the whole
district 43 per cent, in Baltimore Al
per cent and in the group of other
cities SO per cent, compared with
business a year ago, the Richmond
bank stated.
Insurance Sales Mount.
December life insurance sales in
the Capital made good-sized gain
of per cent over December, 1910,
while Virginia and Maryland re-
ported startling upswings, accord
ing to the monthly summary from
Hartford. Sales in Washington for
the full year 1941 were also up 8
per cent.
Sales in December in this city to-
tailed $5984,000. against $5,364, 900 a
year ago, while policies written in
the IL months amounted to $68,-
8770O0, compared with S62, 100000 in
1910. Sales in the whole South At
lantic territory in December were
up "A per cent and in the full year
II per cent.
Life policies written in Virginia
in December amounted to S14854,-
600, record -breakings increase of
66 per cent. Business in the COM
plete year reached S115, 100000, an
increase of 16 per cent over 1910.
Maryland business in December
amounted to $15,565 900, a jump of
So per cent over the same 1910
month. The years sales added up
to s112,542,OOO, which was 13 per
cent ahead of 1910.
West Virginia had 62 per cent
{t, iy, Doroyoho,~ South Tnrn1ip7o
So and North Carolina So, all far
above the yearly averages. The
United States gain in December was
48 per cent and II per cent in the
IL months, total sales reaching
$7,319, ,049 900.
Exchange Prices Strong.
IN the heaviest trading day of the
present year on the Washington
Stock Exchange, Mergenthaler Limo
type made new 1912 high of 317s.
Washington Railway & Electric
preferred sold at 115A and Peoples
Drug Stores common at 2112, both
unchanged.
Washington Gas common was in
strong demand, 105 shares selling
at 1872, unchanged. Seven shares
closed the market at 1885.
Capital Transit was strong at 1888
and 1914 and 40 shares of Terminal
& Warehousing Corp. moved at z.
Capital Traction SIS again sold at
1o414.
Trust Officers Talk Shop.
John w. Wilson, Washington at
torney, told the members of the
fiduciaries section of the District
Bankers Association at the Raleigh
Hotel last night that there is great
need for writing into trust instru-
ments in clear, full and flexible
terms the wishes of the trustor, not
leaving them to mere inference and
conjecture. Certain discretionary
rights should also be included for
better protection of beneficiaries.
Section Chairman j. Wesley
Clampit, jr., presided and led
panel discussion. Other speakers
were Stanley Willis, Kenneth F.
Brooks and Earl G. Jonscher.
war BOND Sales $3.50, 10.
The first day of the campaign of
Merrill Lynch, Pierce, Fenner &
Beane, to stimulate interest in De-
fense bonds resulted in orders being
received in the amount of more than
$685. TBS, the firm reported today.
Subscriptions were recorded from
Offices in SO cities.
Investment bankers reported to-
day that the special unit recently
formed in the Capital to push De-
fense bonds has met with marked
success. Dealers are making the
bonds available to all their Gus
toners and friends and announce
an excellent demand. Y. E. Booker
of Y. E. Booker & Co. is chairman
of the investment bankers section
and James Parker Nolan of Folger,
Nolan g. Co. vice chairman
Banks and building and loan asso-
Citations are also handling the bonds
in great numbers.
Pay Increases Reported.
Employees of the Washington Of
flee of the Massachusetts, Mutual
Life Insurance Co. will share in
supplemental compensation pay
ments just announced by the COM
pany, General Agent John F. Gre
men stated today.
The increases vary from $50 to
$3.50 a year, payments to be made
monthly in cash. The increase also
applies to the office of E. B. Wood
ruff, mortgage loan manager.
The company sold $133, ,537 ,493 new
insurance. last year, a gain of more
than 100000. Commenting on
the gain, President B j. Perry stated
that since the attack on Pearl Har-
Dor the American people have be-
come more war minded and more
conscious of the increased hazards
of life and have Immediately
planned for more family protection.
Heard in Financial District.
Ganson Percell, new chairman of
the Securities and Exchange Com
mission, has been a member of the
board since June II, 1941; is a ma
tive of California, lived in Buffalo
for years, is a graduate of Williams
College and the Harvard Law School.
Kenneth Rirpfe1d American So