Evening star., 1942-10-02

D. c. Store Sales Climb.
Department store sales in the
Capital during the week ending last
Saturday, September 26, were IL per
cent ahead of corresponding week
year ago, the Federal Reserve
Bank of Richmond reported today.
Sales in the Fifth District showed
an average gain of 13 per cent,
were up II per cent in Baltimore
and per cent in group of other
cities.
Sales In Washington were per
cent better than in the previous
week this year, gained Is per cent
in the Fifth District and u per
cent in Baltimore. a
Cumulative sales in tthe Capital
in the four weeks ending last Satur-
day were l3 per cent ahead of last
year. raoved up ID per cent in the
Fifth District, in Baltimore and in
the group of other reporting cities.
the Richmond bank stated.
d. c. Exchange Cuts Expenses.
The Washington Stock Exchange,
like every other exchange in the
country, is cutting expenses to ease
the financial strain until the next
bull market gets under way.
To save $1,000 a year, the ex-
change has stopped printing the
elaborate sheet giving the day s.
sales, bid and offered quotations.
prices on the last previous sales.
dividend information and host of
other interesting facts. The sheet
was distributed to investment firms
and the banks every day This
information will be available now
only through the newspapers. ex-
cept to members attending the trad
ing sessions.
The exchange has also taken less
commodious quarters in the WASH
ington Building. The extensive
rostrum for the presiding officer is
going with the wind, as is the space
for visitors. The new quarters are
on lower floor, all the changes
being noted in some classic verses
written by Y. E. Booker and printed
on Wednesdays sales sheet.
Ralph j. Sahell, clerk for more
than 20 years, will continue to
record the daily sales, dividend
announcements and all other i'm
portant data.
| Nathan Urges Greater Savings.
Robert R. Nathan, chairman.
Planning Committee, War PRODUCE
ton Board, said in an address at the
Carlton Hotel this noon that already
$4,000, 900 900 of production of goods
and services each month is being
devoted to the war effort, not
enough either in time or quantity.
1t is necessary, he said that an
increasing proportion of income
flowing 10 individuals cannot be
utilized for the purchase of con-
sumers' goods There must be an
increase in savings. -
! Addressing luncheon commence
rating the 9th anniversary of the
opening of the Washington Office
of the Mutual Benefit Life Insur-
ance Co. of Newark, with H. Law
renee Ckoate presiding. Mr.. Nathan
declared that life insurance offers
one of the very important mediums
of diverting savings of individuals
into .he hands of the Government,
a secure basis TO drain off current
buying power in such periods as
these.
John S. Thompson. vice presi-
dent of the insurance company, said
the effect of war conditions on in
surance must be considered with
reference to expense. mortality ex-
perience, investments and returns
therefrom 1t is in the field of in
vestment that the most serious and
far-reaching effect of war conditions
is felt. s+
All life insurance companies can
say is that they will continue, as
they always have. to make security
their first objective. If interest rates
continue low, life insurance may
cost more in the future. but will be
| worth it's cost he asserted aiS