Evening star., 1942-11-23
Fifth District Tops
All Reserve Areas
In Trade Advances
Jump Of l9 Per Cent
Over 1e41 Reported
For Year to Dute
BY EDWARD C. STONE,

oAooS PAOSSootOii, OCPo1 tlACllb SUI
sales in this district led the othe,
II Federal Reserve areas by a good
margin from January l through No.
vember IA, in percentage gains owe,
1941. the Reserve Boards lates,
trade review revealed today.
The Richmond District, which in
cludes trade in the Capital, enjoyed
a 19 per cent trade gain in the 10ls
months. over 194l, with the San
Francisco district in second place
with Is per cent gain, Kansas City
third, with business up IS per cent
and Philadelphia fourth, with 13
per cent advance.
The average gain for the II dis
tricts over last year was II per cent
Boston department store sales were
up II per cent, New York, 6, Cleve-
land, 10; Atlanta, 8; Chicago, 9: ST.
Louis, 10; Minneapolis, 3, and Dallas,
per cent, the survey showed.
Heberle Explains Tax Bill.
j. E. Heberle, vice president and
controller of the Capital Transit
Co., has written very interesting
explanation of the new tax bill for
the benefit of transit employees.
He tells employees that the victory
tax, an added tax, applies to every
individual with an income of more
than s12 week or $50 a month,
nj aFant To Mi 10 "
will be withheld by the transit COM
pany from wages or salaries. The
tax is 5 per cent.
Amounts withheld by the COM
pany will be forwarded to the In
ternal Revenue Bureau and state
ment issued later to each employe.
While withholding of the tax be-
gins after January l next, it is not
until 1914 that the individual per-
sonally has to deal with the Bureau
of Internal Revenue about the vic
tory tax, except in his statement
about earnings, Mr.. Heberle says.
The transit official goes into de-
tail about postwar tax credits and
presents a schedule showing victory
tax payroll deductions based on
varying weekly and semi-monthly
salaries. The tax digest appears in
the November issue of Transit Lines.
Mortgage Loans Compared.
Commercial banks, mortgage
companies and insurance companies
have been the largest participants
in the FHA's program of mortgage
insurance for privately financed war
the National Housing Act, Federal
Housing Commissioner Abner H.
Ferguson has announced.
Detailed statistics now available
as of June 30 show that these three
types of private lending institutions
originated IS per cent of the $685.
29l,550 in war housing loans ap-
proved for insurance under Title vi
through that date.
The percentage distribution of
these mortgages for all types of
lending institutions participating in
the FILA program was as follows:
Commercial banks, 3e4 per cent;
mortgage companies, 255 per cent;
insurance companies, 1911 per cent;
savings and loan associations, 80
per cent: savings banks, 80 per
cent, Federal agencies, IL per cent;
all others, 10.8 per cent.
Mergenthaler to Pay S1.50.
Directors of the Mergenthaler
Linotype Co have declared a divi-
dend of Sl,50 per share for the final
quarter of this year, it was an
nounced in the financial district
today. The dividend will be paid
Decmeber % to stockholders of rec
ord December 3. The years pay
ments will total IS as the company
has already disbursed $3.50 in the
previous quarters. The last sale was
made at 36l4.
Capital Transit at New Peak.
Capital Transit scored two new
1912 peaks on the Washington Stock
Exchange today, with 100 shares
moving at 2612, highest price this
year. Ten more shares sold at 27La,
a gain of a full point between sales
and the highest the stock has sold
for several years. The final bid was
26ia with 28la asked.
Washington Gas Light $5 pre-
ferred stock figured in two 5O-share
sales and smaller transfer at 80,
off y. National Mortgage e. In
vestment preferred moved at Az
unchanged
Lanston Monotype has been added
to the stocks now quoted ex-
dividend.
Further Bond Aid Pledged.
Further "all-out aid" to the Treas
ury in the work of the Victory Fund
Committee of the American Bankers
Association has been pledged follow
ing the recent conferences with
Treasury officials and the Federal
Reserve Board. Robert " Fleming
president of the Riggs National
Bank, is member of this committee,
of which Edward E. Brown, presi-
dent, First National Bank, Chicago
Is chairman.
In letter TO all members of the
ABA, President w. L. Hemingway
says The money required to win
the war must and will be raised, but
1t should be raised in a way which
will put the least strain on the
Nations economic structure and
have the least inflationary effect
The program must have the active
support of the banks
New Goodrich Manager Named.
M. G. Huntington, with the B. F.
Goodrich Co. since 1923, has been
named manager of the WASHINGTON
Office of the national sales and sery-
ice division of the company, it is
announced by G. E. Brunner, general
manager of that division.
Mr.. Huntington joined the Miller
division Of B. F. Goodrich directly
from the University of Minnesota
and after extensive experience in
various sales capacities became ad-
vertising and sales promotion man.
ager of the company's associated
lines division. In his new capacity
he succeeds K. D. Smith who as
sumes company duties with head
nio rtnrS Dnfvo,t