Evening star., 1942-09-10
Sales Of Wholesale
Firms Up Sharply
In Fifth District
Bank Survey Shows
9 Per Cent Advance
In July Over 194l
BY EDWARD c. STONE.

same month a year ago by 8 pei
cent and the preceding month tf1is
year by per cent, gains in some
lines being as high as 80 per cent
the Federal Reserve Bank of Rich
mond reports in the monthly review
just distributed here.
Sales of shoes and dry goods led
all other lines, each registering 80
per cent advance over last year
Next came tobacco and tobacco
products, up rs per cent, followed
by groceries which were in Is per
cent better demand than a year
ago. Drug sales were up IL per
cent, hardware 2 per cent, while 81
firms handling miscellaneous goods
boosted sales over last year by 6
per cent.
Restrictions on tires and gas
caused sharp drop in the sales of
automobile supplies which declined
81 per cent from last year in the
same month. Sales of electrical
goods tumbled 6 per cent, industrial
supplies 3 per cent, and paper and
paper products IS per cent. Sales
in these lines were also under the
preceding month this year.
Sales of the ZIG firms totaled
sl6,682 900 in July against s15,246,-
900 year ago, and S15,997 900 in
June. 1912, the summary says.
In the same period retail sales of
n department stores totaled s14,-
o1e,o59, against s16,510,314 in June
and s12,380, ,788 in July. 1941. Retail
furniture sales amounted to $685.
553, ahead of June but 20 per cent
under July, 194l.
Trust Committees Named.
William Rea. American Security
g. Trust Co.. has been appointed
chairman of the Taxation Commit
tee of the fiduciaries section of
the District Bankers Association,
Chairman Aubrey o. Dooley an
nounced today. Other members are
Bernard l.. Amiss, Washington Loan
& Trust; Kenneth F. Brooks, Riggs
National; Edward r. Colladay, Sec
ond National; Edward A. Dent, jr.,
National Metropolitan; Thomas
Grant, Union Trust; Arthur j. Linn,
Hamilton National; william r.
Price, National Savings 81 Trust.
Trust Investments Committee
Nelson j. Foster, National Savings
&, Trust, chairman: Bernard l..
Anliss, Washington Loan; j. Welsey
Clampitt, jr., Union Trust; Fred
erick L. Church, Riggs National;
Wilbur G. Deter, Union Trust;
Warren r. Forster, Hamilton Ma
tional; B. Bruce Frantz, American
Security: M. E. Quigley, National
Metropolitan; Edwin B. Shaw, Riggs
National.
Nominating William
v, Simmons, Liberty National, chair
man; j. Wesley Clamptitt, jr., Union
Trust; Aubrey o. Dooley, Hamilton
National; Earl G. Jonscher, Ameri-
can Security: Lester A. Lawrence,
National Savings; Vincent A. Shee-
ny, tr., Washington Loan; Edwin B.
Shaw, Riggs National.
Manual OF Trust Operations
Melville w. Stuart, Union Trust,
chairman: Henry K. Dierkoph,
Riggs National.
Bulletin-William S. French, jr.,
American Security, chairman; Her
man G. Lauten. National Savings.
Two Banks Vote Dividends.
Directors Of the Bank of Com
merce g. Savings have declared the
regular quarterly dividend OF $3.50
per share, payable September 80 to
stockholders of record September
10. Thomas J. Groom, president, an
nounced today.
Directors of the Security Savings
81 Commercial Bank have declared
a semi-annual dividend of per
cent, payable September 80 to
shareholders of record September
as, Francis G. Addison, IT., presi-
dent, stated today.
The Association of Bank Women
will omit the annual convention this
year, Miss Emma E. Claus, presi-
dent, announced today. Instead of
the three day session, a meeting
will be held at the Bank of Manhat-
tan, New York, on September 26.
for the election of officers and other
business. Washington members of
the association include:
Elizabeth M. Brotherhood and
Katherine M. Barker, McLachlen
Bank; Maude H. Buckingham. CITY
Bank; w. Winifred Burwell, Ma
tional Metropolitan; Helena D
Reed, Lincoln National; Vera D
Rhine, Morris Plan; Alice H. Whit
ton, Burke & Herbert National
Alexandria.
Higher Costs Cut Earnings
Three of Washington's big utilit,
corporations reported lower earn
ings to the Public Utilities Commits
sion In the first seven months O
1942 than in 1941, higher operatin,
costs, chiefly taxes, being the mail
reason.
The Capital Transit Co. ra,
sharply against the trend, net in
come of 81 ,001 ,89l As being 1911 900.
IS, or SO per cent, above the $500.
2e099 earned in the like period
year ago. Taxes were up s1,160 ,58s
The Washington Gas Light Co. re
ported net income OF 1924. .438, com
pared with the higher figure o
sl,034,702 a year ago, decrease O
s210.364. Taxes and other expense
were up more than 1924, 900.
Potomac Electric Powers net o
t2,166.2 .204.l1, was a drop of 1928,
s12.9s from last year and largely du
to a 63 per cent increase in fund
set aside for taxes.
Chesapeake IL Potomac Telephon
net earnings amounted to $735, 81
in July, compared with ss55,876
year ago, decrease Of s202 so:
heavier interest deductions being
vital factor in these results.
Merrill Given Special Honor.
e. D. Merrill, president of tn
Capital Transit Co., was elected vic
president of the American Trarsl
Association today at the annus
meeting in Chicago. Mr.. Merrill
who is attending the sessions, ,1s
been active In the organization fe
years.
Gas Common Sells Higher.
Fifty shares of Washington Ga