Evening star., 1942-01-02
Total -------- S495. .474 845 ~
Eighth Consecutive Gain.

4 Eighth Consecutive Galn.
. 1t was the eighth consecutive call
On which bank deposits in Wash
ington have scored advances into
new high ground.
: Calls were also sent out by the
Federal Reserve Board and the Fed
eral Deposit Insurance Corp.
e State Bank Examiner John w.
Downing also asked for the condi-
tion of all Maryland State banks on
December 81.
Huge Weekly Trade Gain.
Department store sales in Wash
fneton in the week ended December
q scared 50 per cent higher than
sales in the corresponding week in
1910. the huge increase being partly
due to higher prices this year and
In part to an additional day OF
Christmas trade. the Federal Re-
serve Bank of Richmond announced
today.
The fifth district gain was 43 per
cent, A per cent IN Baltimore and
80 per cent in group OF other cities,
the report added.
There was a sharp decrease OF Al
per cent in Washington sales over
the previous week this year, this
decline being due mainly to the diff
ference in the number of pre-Christ-
mas trading days.
Sales in the Capital in the four
weeks ended December 27 were Is
per cent ahead of the like period a
wear ago This was a much better
showing than in the week ended
December 20. when the gain was
only II per cent over the same period
last year
In the four weeks ended last Sat-
urday the cumulative percentage
gain in the whole fifth district was
Is per cent, same as in the Capital.
Baltimore reported the same figure.
The other cities noted IA per cent
advance.
The averages are based on reports
from 18 leading department stores
In the fifth district, the Richmond
bank says.
Clearings Depict Trade Boom.
Washington bankers were COM
menting today on the new clearlngs
record established in the Capital in
1e41, when Cancelled checks reached
a grand total of S1.756. SAC, ,4l7l0,
jump of S342 POT 53290 over the 1910
total of s1,4l4, 1892 1884 20.
Bankers say these figures show
eonclusively that Washington en-
joyed the best business year in the
city's history. Many flnanciers con-
slider bank clearings the best of all
indicators depicting business ac-
tivity.
ClearingS were definitely ahead of
the 1929 record, when stock specula-
ton was the widest ever known.
In that eventful year clearings in
the Capital reached 81 431 800 728 "a.
but even this huge sum was far un-
der the record for the year just
closed. The 1929 total was the near
est approach to the amount reached
In 1941.
December Clearings, which we're
the highest for that or any other
month on record, totaling Sl72,9
242.23, were s33,13S 6S7.62 higher
than in December, 1910. when they
amounted to s139.843,55461. The
nearest approach to the December
figure was in October. 1941. when
the total stood at Sl67,930,954.
Exchange Remains Active.
In the first trading day of the
new year the Washington stock
market suffered a letdown, but still
remained active.
The first sale of 1912 was $50
shares of Real Estate Mortgage Il
Guaranty preferred at ~, un-
changed.
Capital Traction IS came out on
a $1,000 transfer at l03, also un-
changed,
Washington Gas common was
fractionally higher, two 100-share
lots moving at l5i2.
Mergenthaier Linotype was strong,
AZ shares changing hands at %,
against the 1941 close of 26l2.
Bank Declares Dividend.
Directors OF the National Bank of
Washington have declared the regu-
lar semi annual dividend of SO per
share, payable January to stock
holders of record December 81. ac-
eording to President j. Frank White.
Directors of the Security Storage
Co. have declared dividend of
81 so per share on the capital stock
payable January 10 to stockholders
OF record January S, Paul Alvey,
secretary, announced today.
Glass railroads in the Southern
district In the II months of last
year had an estimated net income
after interest and rentals Of $685.
e002l6, compared with $8,856, ,203 In