Evening star., 1942-01-01
Stone
Continued From First Page.)

forces with Fenner & Beane to form
Merrill, Lynch, Pierce, Fenner &
Beane.
Later in the year Mackubin, Legg
& Co. withdrew from the Capital.
their business being taken over by
Orvis g. Co., Stock Exchange firm
new to the financial district. The
year saw the closing of the Office of
Winthrop, Mitchell e. Co.. which
had been represented here for more
than a decade.
Retail trade furnished one of the
brightest spots in the business pic
ture. In November department store
sales were II per cent above No
vember, 1910. In the first II months
of 194l sales were 20 per cent ahead
OF last year, the same improvement
as was reported by 79 stores in the
whole fifth Reserve district.
Merchants said yesterday that
final figures for l941 would disclose
the best yearly and holiday trade
volumes in the city's history, the eX-
act percentage gain depending on
reports not yet available.
Postal revenues reflected the city's
sudden growth by exceeding all for
mer records. In II months post
Office receipts mounted to S8,500,755,
an unexpected upswing of $1.O09,148
over last year. They scared still
higher during the holiday season.
Express shipments revealed the
same upward trend, business in and
out of Washington constantly estab-
fishing new marks. BY. the end Of
November shipments had climbed to
2,073,3l9 In comparison with 1872
181 in the like period in 1910, a
record breaking rise of 281 ,138 Ship
ments.
Life insurance sales tell the same
story of prosperity in the Capital.
After tagging for a time. the total
amount of new insurance written in
the District up to December l
reached $62893,0OO, which was an
increase of 8 per cent over 1910.
Recently there has been a tremen-
dous rush by patrons anxious to beat
war risk clauses and higher rates.
The big Peoples Drug Stores chain
reported sales totaling s24,422 1927 to
December l, up 1921 ,022, or 1872 per
cent over last year.
Utilities Push Expansion.
Washingtons public utilities were
forced to rush expansion to meet
war needs, but had a successful year
despite very much higher taxes and
other increased operating costs. Up
to December /, the Capital Transit
Co. carried 205 ,956,762 revenue pas
sengers, 36,867, ,799 more than last
year and a gain of 81 per cent. Net
earnings were 81 per cent higher,
amounting to s1.127,746, an increase
Of more than 100000.
Potomac Electric Power, Chesa-
peake & Potomac Telephone and
Washington Gas Light Co.'S faced
the same problems in expanding
service. In spite of the great in
crease in expenses, the power COM
pany had slightly larger net earn
| ings than in 1910. The gas company
was prevented from having q mod
est gain by exceptionally warm
weather. In both instances earnings
were substantial.
The Chesapeake & Potomac Tele-
I phone Co., which earned 81 ACT ,3O9
in the first II months of the year,
compared with $1,672, 400 in 1910.
had the strange experience of too
much business" being obliged at one
time to urge patrons to make as few
long distance calls as possible.
Amid such glowing business results,
one turns to 1910. With war clouGs
over the whole world. Washington
assumes an importance never before
known. That single factor should
mean great business prosperity here
In the coming months.