Evening star., 1942-07-17
Capital Store Sales
"a Per Cent Above
Year Ago in Week
Four Weeks Volume
19 Per Cent Ahead
Of 1o41 Period
By EDWARD c. STONE.

with the corresponding week a yeal
ago, the Federal Reserve Bank o.
Richmond reported today.
I Last weeks sales gain in The
whole fifth district was 19 PEI
cent over last year, Is per cent II
Baltimore and II per cent In
group of other cities.
I Compared with the previous weei
bhis year, Washington sales were ur
s per cent, in the fifth district II
per cent, in Baltimore 36 per cen
and in the other cities 8 per cent
Due to the Fourth of July, these
comparisons are of little value al
one week had but business days
and the other s.
Cumulative sales in Washington
In the four weeks ended July II
were 19 per cent better than last
year, showed Is per cent advance
In the fifth district, IL per cent
in Baltimore and Is per cent in the
other cities. the survey says.
Sales gains in the District re-
Gently have disclosed considerable
expansion. Three weeks ago sales
were but per cent above the same
week last year. In the week ended
July 4 they were up 20 per cent
while the latest increase is "a pei
cent.
Merchants are highly elated over
the results of the first half year.
More Women in d. c. Banks.
Do, ;o1 eoiI that the
number of women and girls en-
ployed in Washington banks re-
mains steadily on the increase. Re
Gently it was estimated that more
than half, perhaps SIS per cent, OF
all bank employees in the city were
women.
Bank officials now estimate that
about two-thirds of all employees
are women. Young men are con-
stantly being called into the service
or taking war positions at salaries
which banking institutions cannot
meet. The continual training OF
new employees is one of the most
difficult problems now confronting
all the banks.
The war is not the only factor in
the personnel situation, one bank
official said today. A surprising
number of women are leaving their
positions to get married.
Chester C. Davis, president of the
Federal Reserve Bank of ST. Louis
and former Reserve Board governors,
has been named by Secretary of
Commerce Jesse Jones as a mem
ber of the National Patent Plan
ming Commission, of which Andrew
A. Potter has been made executive
director.
The commission is charged with
encouraging inventions and the
consideration of the best means of
using inventions during the post
war period, an announcement says.
d. C. Loan Officers Honored.
Carl j. Bergman, president of the
Washington Permanent Building
Association, and S. S. Symons, sec
retary of the Northeast Building
Association, have been appointed
members of the FHA Committee of
the United States Savings and Loan
League, it was learned today.
The group will study recent de-
velopments in mortgage lending
under the National Housing Act, and
recommend to building and loan
associations policies concerning such
loans.
Recent needs for war industry
housing have placed Title (re-
modeling) and Title VI (rental
housing) FHA loans in the lime
light. The committee will give spe-
cial study to these two types OF
insured loans.
Mortgage Convention Dropped.
washington members of the Mort
gage Bankers Association have beer
notified that the annual convention
set for late September in Chicago
has been Cancelled in order to avole
railroad travel. The association
however, will hold its annual busi-
ness meeting and a limited mortgage
conference in Chicago at that time
Atlantic Coast Line Railroad ir
the first five months of this veal
earned $10.85 per share on the COM
mon stock, against $5.73 per common
share in the same period in 1941
The railroad will receive $1,790, ,00(
from the So dividend just declared
by, the Louisville & Nashville Rail
road, payable August %.
Secretary Morgenthau stated yes
terday that survey shows that
great many more people are buying
War Savings bonds to help win thu
war than for investment reasons.
Education Committee Meets.
The Educational Committee O.
Washington Chapter, American In
stitute of Banking, met last nigh
and started plans for the comm,
year. George Earnshaw, Nationa
Metropolitan Bank, is committe
chairman. The members considered
courses to be offered and enrollmen
prospects and reached the conclu
sion that woman bank employees vii
play a very important role in mex
years educational program.
Washington Gas Common Up.
Fifty shares of Washington Ga
Light common stock sold at Is, ex
dividend, on the Washington Stool
Exchange today, up half point ant
the highest price in this issue in
long time. The closing bid was
with 1914 asked, a very narrow pric
spread.
There were two 100-share sale
today. Capital Transit figured in
1oo-share sale at 81, unchanged fror
other recent transfers.
Mergenthaler Linotype, recentl
more active, also registered a 100
share turnover at 35, the recent ne'
high mark.
The market closed with 10 NOR
shares of Capital Transit moVln
at 81.
d. C. Insurance Sales Drop.
Sales of new life insurance
Washington in June totaled s4,366
600, a drop of rs per cent from tn
same month a year ago, the Lii
Insurance Sales Research Bureal
at Hartford, reported today.
Sales amounting to s32 900
the first half year, however, wei
only 3 per cent under the mar
reached year ago, the report SAT-