Evening star., 1943-01-29
Capital Store Sales
Jump ID Per Cent
Above Year Ago
Show Quick Recovery
From Decline of
Previous Week
BY EDWARD c. STONE.

BY EDWARD c. STONE,
Registering a quick comeback
sales in Capital department storeI
disclosed a substantial gain Of i
per cent for the week ended las
Saturday, compared with the cor,
responding week year ago. thu
Federal Reserve Bank of Richmond
announced today. In the preced.
ing week retail trade showed a
per cent drop from the like week il
1912.
Sales in the Fifth District last
week were l3 per cent better than g
year ago, were up u per cent il
Baltimore and per cent in a group
of other cities, the report stated.
Washington sales were per cent
ahead of the previous week this
year In the Fifth District trade
made an average gain of per cent
over last year, while sales ir
Baltimore were down per cent and
off per cent in the other cities.
Cumulative sales in the four weeks
ended last Saturday we're up s per
cent in Washington and the Fifth
District, over the corresponding
period. a year ago, per cent in
Baltimore and II per cent in the
other reporting cities, the survey
said.
Heavy Bond Purchases Noted.
In his annual report, Concoran
Thom. president of the American
Security g. Trust Co, stated that
during 1912 the company pur-
chased U. S. Bonds and Treasury
bills amounting to s13,294,322, a
net increase in such holdings over
194l of s10,585,674.
Outside of purchases by the COM
pany, the bank sold in 1912 to Gus
toners and the public, approx
mately s11000,000 in U. s. Govern
ment Bonds and Tax Anticipation
Notes, Mr.. Thorn added.
The annual report shows that the
payment of an per cent regular
and an extra 2 per cent dividend
has been the policy of the direc-
tors since 1885.
Decision to discontinue, at least
for the duration, the Christmas
Savings Club meant the closing on
December / of 1920 such accounts,
Mr.. Thorn said. Total checking and
savings accounts, however, in
creased during the year.
The trust company now has six
officers and 56 employees in mill
tary service, Mr.. Thorn said.
War Loans Total S1l,447, 900.
In his recent annual report, Rob-
ert v. Fleming, president OF the
Riggs National Bank, stated that
during 1912 the bank extended
SHAT, 900 in loans directly con-
nected with war effort, despite the
fact -e are now located in an in
dustrial community where num-
tions or material of war are being
manufactured or produced
During the year the bank sold
e, F. and G Bonds and other war
securities amounting to s23,l43,S25
to 62,071 purchasers and since May,
1o41, a total of 500 9,624,740 has been
sold to 74o82 purchasers.
In connection with the banks
substantial Government holdings,
Mr.. Fleming said shareholders
would be interested in knowing that
80 per cent of these securities ma
ture in one year or less, and ali
have an average maturity Of slight
ly over five years. During the year,
the banks deposits gained s4o.-
o75.10e.
The bank put into effect in ls42
the Metropolitan Life pension plan
and several retirements have al
ready been effected under its pro-
visions.
At the end Of 1912 one director
and rs officers and employees were
serving In the armed forces, Mr..
Fleming stated.
Phone Stations at New Peak.
Stations of the Chesapeake &
Potomac Telephone Co. numbered
357,759 at the end of 1912, ending
year Of steady monthly increases
and impressive new records.
During the year the company in
stalled 1885 new telephones, the
number at the beginning of the
year standing at 321,924. Back in
1910 there were 275,326 telephones in
service in the Capital and 254,o42 at
the end of 1889
The company reported 3,S9s
average daily calls in December, one
Of the busiest months Of the year,
April was the busiest Of the II
months when average daily calls
reached 1,608,424
National Officer Honored.
David A. North of New Haven,
Conn. president Of the National AS
sociation of Insurance Agents, was
honor guest at the January luncheon
of the Insurers Association of the
District of Columbia at the Harring-
ton Hotel this noon. He spoke
informally.
Another special guest was Sidney
Smith Of Atlanta, past president Of
the national association. There was
an unusually large attendance OF
members and guests.
United Reports Traffic Gains.
Karl P. Hughes. acting district
traffic manager of United Air Lines
for Washington, has returned from
the annual winter traffic meeting in
Chicago. Harold Crary. vice presi-
dent in charge OF traffic, reported
at the meeting that United in l942
registered an increase Of per cent
In revenue passenger miles flown
coupled with an increase OF 100 per
cent in express business and 81 per
cent in mail flown.
The National Savings & Trust Co.
Bruce Baird president, is observing
the 18TH anniversary of the found
ing Of the company. The company
was organized by an act OF Congress
in January, 1867.
The Household Finance Corp
through the Silver Spring office, is
distributing very complete book
let on proper procedure in the max
ing out Of income tax returns.
Directors Of the United States
Chamber of Commerce are urging q
you-go policy, as far as fea-
sible, for Federal taxes upon in
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