Evening star. [volume] (Washington, D.C.) 1854-1972, 1943-07-29
Rise in Store Sales
Sharpest in Dallas
Reserve District
By EDWARD {. STONE.

In a summary of department stone
sales in the II Federal Reserve
districts in the first halt year, the
Federal Reserve Board disclosed
that the Dallas district led all others
with a AZ per cent trade gain over
the like 1912 period, the Kansas City
district taking second honors with
sales up "a per cent, followed by the
Atlanta district with a 80 per cent
advance.
San Francisco district was among
the leaders, sales being 27 per cent
ahead of last year, Minneapolis dis
trict sales were up 10 per cent. st.
Louis, 16: Chicago. II: Cleveland
and Boston, 10; Philadelphia, 8, and
New York, 7. AS already noted.
department store sales in the Rich
mond district were Is per cent ahead
of last year, while the average sales
upswing for the II districts was Is
per cent.
The Reserve Board also reviewed
store sales in the leading cities in
the different districts. Oklahoma
City standing far above all others
with an increase of SO per cent over
1912. More big gains were scored
by Western cities than IN the East.
although Jacksonville enjoyed a SO
per cent increase. Sales in Green
vile. S. c.. we're up 43 per cent: in
Atlanta. 81; Tampa, 43: Charleston,
S. c.. 80, and Atlanta, 81.
The survey reports sales in Dallas
up 81 per cent, Spokane, Al: Stock
ton. At; Evansville Ind AZ, and
Tucson, Ariz., 81 Bridgeport, AL
bany, Elmi,a and Peoria are the
only cities in the long list which
registered decreases.
Intensive Advertising Urged.
Need for more intensive advertis-
ing to build up an effective demand
for specific industrial products in
the postwar period is seen by Bank
Ing, the ABA magazine.
1t is a mistake to assume that the
public will be in a buying mood
toward newly developed things when
the war ends unless those products
are widely advertised, the journal
SAYS.
The survey indicates that people
are falling into the habit of getting
along without things heretofore con-
sidered essential and making the OLE
ones do.
The longer the wal Lasts. the more
reselling. readvertiSing and re-
education it is COINS to take, the
survey asserts There Will be plenty
of buying Of familiar goods. but the
new products will require selling, no
matter how attractive they are.
Servicemen Pile Up Bonds.
Servicemen are making brilliant
record IN buving War bonds. accord
ing to Treasury reports More than
100000 are now buying q bond a
month. 100000 are paving tor bond
every three months and $4,000 are
saving enough fO- a bond every five
months.
In the second quarter the total
allotted by soldiers for pond buying
was s6l 428 900. During June men,
bers of the Army COMPLETED pay
ments for 1899 276 bonds
Navy men are now buying bonds
regularly at the rate Of nearly
s7000,000 month.
Banks Ready for Tax Funds.
Washington banks are receiving
authority to handle withheld tax
funds for the Government in con-
nectlon with the new paX-aS-yOu-
90 tax law recently passed by Con-
ereSs A. Scott Offutt. president OF
the District Bankers Association.
announced today.
Some OF the banks already have
received these tax funds, which are
being collected for the Internal
Revenue Bureau. New accounts
have to be opened by patrons, as the
deposits are entirely separate from
all other bank deposits The banks
are awaiting further blanks from
the Treasury as extensive records
are required.
The real rush in deposits Will start
on August l. For bookkeeping rea-
sons. bank officials have not been
anxious to receive many tax deposits
until August They will then be all
set" to render the new service. Mr.
Offutt said.
1t was predicted today that these
deposits Will eventually run into
very high figures. the amount being
deducted from payrOlls by big cor
porations tOtaling large sums every
week
Financial District Comment
Crowded boardrooms witnessed a
frSt-claSS opening of the New York
Stock Exchange today, following the
declines in prices yesterday and
Tuesday. when extensive selling pre-
vailed. There was standing room
only in the brokerage houses when
the tape started.
American Ice reports for six
months a profit of $l.700 against a
loss of $500 a year ago in the like
period
Net operating income of the At
lantic Coast Line Railroad in the
first half year was Sl0,705 028 VS.
Sl209l028 a year ago.
Net operating income of the Sea-
board Air Line Railway in the six
months amounted to S20,l69.57l,
against $l3.276824 last year.
81.