Evening star., 1942-11-06
Capital Trade Gain
Over 1941Leads
Fifth District
Weeks Store Sales Up
18 Per Cent From
Period Yeor Ago
Nv EDWARD C. STONE.

By EDWARD c. STONE.
Retail trade in Capital depart
ment stores for the week ended last
Saturday, october 81, led the Fifth
District with a gain of l8 per cent
over the corresponding week a year
ago, the Federal Reserve Bank OF
Richmond reported today. In the
previous week this year the gain was
81 per cent.
The average sales gain for the
Fifth District last week was 3 per
cent group of cities reported a II
per cent advance over last year,
while Baltimore reported a drop in
department store sales Of II per
cent, Washington stores reported a
drop from the preceding week OF
II per cent and the whole Fifth Dis
trict average was of II per cent.
Cumulative sales in the Capital
In the four weeks ended last Satur-
day topped this territory with Is
per cent upturn from the like 1941
period. Sales in the whole district
were up 18 per cent, rose IL per
cent in Baltimore and in the group
of other cities were % per cent
better than last year, the review
stated.
d. G. Store Collections Up.
Collections on open accounts In
Washington department stores In
September were 48 per cent OF the
bills due at the beginning of the
month, the Richmond Reserve Bank
reported today. Collections year
ago were only 38 per cent OF re-
ceivables.
Collections on installments in
September were 81 per cent OF
amounts due the first of the month
This improvement compares with
collections of 16 per cent a yea1
ago.
Outstanding receivables at the
end of September this year were
20 per cent lower than on the same
date last year. rejecting the sharp
Government curtailment in con-
surner credit.
Stores Have Ample Stocks.
The same review reveals that
Washington stores have ample stocks
of goods on hand. Inventories were
50 per cent higher at the end OF
the month than on the same date
in l94l. They averaged 81 per cent
higher in the Fifth District.
Outstanding orders for merchan-
disc were IS per cent lower in this
city than on the same 1941 date
and 9 per cent lower in the Fifth
District. In Baltimore they were
6 per cent lower but in Richmond
7 per cent higher.
Capital trade was up 9 per cent
In September and % per cent in the
first nine months of 1912.
Equitable Reports Fine Year.
Shareholders of Equitable Co
Operative Building Association
meeting last night for election Of
officers and directors for the ensu'
ing year, were told by Edward L
McAleer, secretary, that the past
year was marked by resources OF
the institution reaching new high
of $s,7S8,343
The report revealed that increases
in assets have been noted every yeal
of the associations operation since
1899. Equitable is the third old
est home loan group in the city
being established in 1879. Re elect
ed to Office we're:
Walter S. Pratt. jr., president
Harry G.. Meem, vice president; Ed
ward L. McAleer, secretary; J. Har'
cid Mcdowell, assistant secretary
Directors: Ralph P. Barnard
Charles H. Doing. Arthur B. Heaton
Robert l., Lewis, Theodore w. Noyes
Arthur Peter. Frank j. Stryker, Col
Wilson L. Townsend. DR.. William
Charles White and Messrs. Pratt
Meem and McAleer.
New I. B. NJ. Controller Named.
Appointment of Albert L. Viii
liamS to the position of controller
of the International Business Ma
chimes Corp was reported today. HI
has been a leading sales representa-
tive with the Washington office, ha
also worked for the company in New
York, Baltimore and Pittsburgh
He was loaned to the Bureau of Pri
critics, WPB, for a year beginning
in May. l94l.
A native of Harrisburg. he is ;
graduate of Beckley College. and
q certified public accountant.
Today's Trading on Exchange.
National Mortgage & Investmen
preferred was in demand on tn
Washington Stock Exchange again
today, 1000 shares selling at Al, un
changed.
Capital Traction SIS also appeared
on the board in $500 transfer a
iQ5ii, off u. The market close'
with 1852 bid and none Offered
Other bonds were quiet,
Following the recently declare'
sl.25 dividend, the bid for Lanstol
Monotype stock stood today at 2
with n asked. Bid on Mergenthale
Linotype was IS with 36i2 asked.
Fleek on Bond Committee.
John S. Fleek, past president O
the Investment Bankers Associa
rion, now is executive manager c
the Treasury's Victory Fund Com
mittee In Cleveland, it was reporte
here today.