Evening star., 1943-12-19
District Merchants
Expect Yu|e Trade
To Exceed 1912
BY EDWARD C. STONE.

BY EDWARD C. STONE.
With Christmas trade continuing
ahead of last year, sales in Wash
ington Department stores for the
week ended Saturday, December II,
were 6 per cent above the preceding
week this year and in the four weeks
ended on the same date were 2 per
| cent better than in the like 1912
period, the Federal Reserve Bank
OF Richmond reported yesterday.
Sales here, however, were 9 per cent
below the corresponding week q year
ago.
Sales in the Fifth District were off
5 per cent from last year, but were
6 per cent ahead of the previous
week in 1943 and were up per cent
in the four-week cumulative sales
period. Baltimore reported q 2 per
cent gain over the preceding week,
while group of other cities regis
tered an increase of IS per cent and
Is per cent in the four weeks.
Holiday trade in the Capital ap-
pears to be leveling of somewhat as
the four weeks gain OF 2 per cent
over last year compares with a gain
OF 8 per cent for the four weeks
ended December 4. This is in line
with national reports.
Washington merchants said yes
terday they expect Christmas trade
will exceed 1912. The stores are
jammed to the doors with shoppers
and stocks are holding up well
although some goods are not now
available, merchants stated Trade
for the full year also will exceed
1912.
Some High Priced Stocks.
Giving his desk a real Christmas
cleaning. Edward L. Hillyer, vice
president Of the Union Trust Co.,
came across some Washington Stock
Exchange quotations back in Decem-
Der, 1920, which are decidedly inter-
esting.
Capital Traction was selling at
IS; Washington Gas, 401a: Washing
ton Railway Electric common, 81;
Railway 81 Electric preferred. So;
Liberty National. 1873; National Met
ropolitan, 217; Riggs National, 1865;
Second National, $50: Union Trust,
ll8; Washington Loan Il Trust. $50:
Security Savings 81 Commercial.
1893; Mergenthaler Linotype, 120, and
Lanston Monotype, SO.
Security Storage was selling at 212,
Norfolk d Washington Steamboat,
2l2; American Security g. Trust.
220; Real Estate Title, IS; Columbia
Title Insurance, ~ and District of
Columbia Paper preferred. 95. Co.
lumbia Graphophone preferred, at
IS. was one Of the most active stocks
on the board. Greene Cananea Cop
per was also listed, moving at 30la.
In a long list of bonds none was
selling above par, in contrast to to-
days quotations in which every bond
on the exchange is well above 100.
Bank Meeting Date Fixed.
Members Of the District Bankers
Association will hold the annual
midwinter meeting at the Maynower
Hotel on Thursday. January 13, A.
Scott Of1utt, president, announced
yesterday.
The original date conflicted with
the monthly meeting of the Board
Of Trade, which is always attended
by large number Of bankers who
are active members.
Details of the bankers meeting
are now being arranged About 200
bank officers and directors are ex-
pected, Mr.. Offutt stated.
November Fire Losses Climb.
The National Board OF Fire Un-
derwriters has reported that fire
losses for November were $l31 ST.
900. an increase of per cent over
October and 81 per cent over losses
in November last year.
The same report says fire losses
in the first ii months Of 1943 were
1882 ,519 ,000 compared with s278,-
100000 in the like 1912 period and
are higher than in any full year
since 1882.
Fire underwriters in Washington
say losses here have been extra
heavy during the year, cigarette
smoking in bed being given as the
chief cause for the increase in cases
adjusted.
Country Bank Help Planned.
The commission on country bank
operations of the American Bankers.
Association has started a drive to
give greater assistance to $4,000
country banks. The commission will
render the service by letter, taking
up such subjects as:
Meeting competition Of Govern
ment agencies, increasing earnings,
determining costs, improving oper-
ating methods, increasing volume,
enlarging scope Of service, improv-
ing community relations and the
supplying guide on the best Gov
ernment investments.
The ABA also has announced that
% members OF the staff are now
available for addresses before bank
ers, and clearing house associations
Financial District Comment.
The National Association of Mu-
tual Savings Banks is planning full
cooperation in the Fourth War
Loan drive.
The Offering of 3,400 shares of w.
T. Grant Co. common stock, at 33l2
made by Smith, Barney IL Co., was
far overSubscribed.
Washington dealers have received
word that the Walworth Co. will
not place 100000 shares Of 5 per cent
preferred stock on the market at
this time.
General Electric's dividend Of IS
cents per share is the same as paid
in the third quarter. The stock is
very widely held here.