Evening star., 1943-09-23
Wholesale Business
Ahead Of Year Ago
In Fifth District
By EDWARD C. STONE.

BY EDWARD c. STONE.
Sales of 238 wholesale firms in
the Fifth Federal Reserve District
were per cent higher in July than
a year ago. the September Rich
mond Reserve Bank review states
The best gain was shown in auto
supplies, the demand being up SO
per cent.
Shoe sales increased 10 per cent
over July, 1912; drugs and sundries,
9 per. cent; electrical goods, 18;
groceries, IL; hardware, 2; tobacco
products, 13, and miscellaneous
sales, l per cent.
In only three lines were sales
under last year. Industrial supplies
were down 18 per cent; electrical
goods, 2, and paper and paper prod
ucts. / per cent.
Firm Seeks S15,000,0 Financing.
The Canadian American Co., Inc,
of Cleveland and New York has in
formed the Export Import Bank of
Washington that it is prepared, in
cooperation with it's associates, to
finance the rehabilitation of mu-
nicipally owned water works systems
In Havana. Cuba, up to SIS 900 600,
using private American capital in
stead of public money through the
Export Import Bank.
A spokesman for the bank said
that no contract for the loan had
been signed as yet, although ne
gotiations had been pending for
months. Bank officials had mo
comment" on the offer as the COM
pany's letter to the bank had not
been answered.
Three Gas Dividends Voted.
Directors of the Washington Gas
Light Co. declared three regular
dividends at the September meeting,
officials announced today.
The regular quarterly dividend OF
Slips per share was voted on the
$3.50 cumulative convertible pre-
ferred stock, payable November 10
to shareholders of record October
IS. The quarterly dividend of $1.25
on the IS cumulative preferred stock
was also declared, payable Novem-
ber 10 to stock of record october 25
The usual quarterly dividend on
the 425, 900 shares of common stock
was declared, payable November to
stockholders of record on October Is.
Two Banks Declare Dividends.
Directors of the Security Savings
& Commercial Bank have declared
a semiannual dividend of per cent
on the outstanding stock, payable
September 80 to stockholders of rec
ord September 25, Francis G. Addi-
son, jr., president, announced today.
Directors of the American Secur-
ity g. Trust Co. have voted a quar-
terly dividend of per cent, payable
September 80 to stockholders of
record September 81, it was an
nounced today at the bank.
Kresge Department Stores today
reported earnings of 3 cents per
share on the common stock in the
first half year, against IL cents in
the like 1912 period.
Veteran Holds Bond Honors.
SiXty-year r-old C. E. W;ndhovel of
Lake City, Fla, makes bid for the
title of Americas -buyingest
salaried man.
A Government employe, he puts
IS per cent of his earnings in War
bonds. Deductions are made from
his Veterans Administration Bureau
pay check, so the purchases are
matter of record.
He iss.a Spanish-Ameriean War
veteran, has been War-bond buying
since May, 194l, and his two grand
children. 10 and IL, have bought
eight SIS bonds each.
MergenthaIer Stock Strong.
Mergenthaler Linotype was strong
on the Washington Stock Exchange
today, small lot selling ex-dividend
at 47A, best price reached in weeks.
The high for the year is SO, with
36la the low.
Potomac Electric Power 6 per cent
preferred was in strong demand, 80
shares changing hands at 118. The
stock closed with 117lz bid and 119
asked.
Capital Transit was strong again
today, so shares selling at 81 ex-
dividend. Final bid was 3ola with
31A asked
Housing Loan Demand Heavy.
The Federal Housing Administra-
tion reports that private lending
institutions filed applications during
August for mortgage insurance to-
falling $61 ,694, ,430 to finance con-
struction of 13,T79 new family
dwelling units for war workers.
Applications for insured mort
cages totaling s501 ,683 ,279 to finance
l18.074 proposed new dwelling units
have been filed since January /, the
FILA reported.
Exchange Holds Bond Rally.
Secretary Morgenthau was in New
York today to attend a War bond
rally arranged for this afternoon on
the floor of the New York Stock Ex-
change at the end of the trading
session. The drive was planned by
President Emil Schram for the pub
lie, firm partners and employees Of
the exchange.