Evening star., 1944-12-10
Holiday Trade Exceeds ls43

November - 2,s2S.57s 2,s7s.os;;
Holiday Trade Exceeds I943.
Christmas trade in the Capita
continued to exceed 1943 during thu
week ended Saturday, December 3
when department store sales ran /.
per cent ahead of the corresponding
week year ago and SO per cenI
above the previous week this veal
which had only five business days
on account of Thanksgiving, the
Federal Reserve Bank of Richmond
reported yesterday.
Sales in Washington in the four
week period ended on the same dat.
were 7 per cent better than a yea,
ago, the same gain prevailing in the
Fifth District and in Baltimore. In
group Of other cities they were up
Is per cent. Sales in the Fifth Dis
trict from January l through De-
cember 2 were per cent ahead of
last year.
Railroads Under Review.
The Washington Office of Merrill,
Lynch, Pierce, Fenner & Beane is
distributing an 88-page booklet pre-
senting most remarkable picture
of American railroads including
their capital structures, assets, liza
bilities, fixed charges, funded debts,
incomes, gross revenues and a host
of other important facts.
Labor problems, taxation, regula-
ton, equipment, passenger and
freight outlooks and competition
are discussed fully. Stocks and
bonds are given equal attention from
the investors point of view, favor
able and unfavorable factors being
listed. Individual analyses of 30
leading roads are included.
Forum Speakers Announced.
Operations improvement for In
creased Profits" a forum designed
to inform Washington businessmen
of the latest management techniques
to cut costs and increase profits, will
be held Wednesday evening at the
Chamber of Commerce.
The speakers will be 1t. Col. Ev-
erett r. Conover, chief of supervisor
training, Army Air Forces, and
Joseph M. Juran of the Foreign Eco
nomic Administration and formerly
with the Western Electric Co. as a
manufacturing engineer
c. Bedell Monro, president of
Penn-Central Airlines, will be chair
man. Fred Macarow, president,
Washington Chapter, Society for
the Advancement of Management,
announced yesterday.
Appraisers to Elect Officers.
The annual election of officers
and governors of Washington Chap
ter, Society of Residential Apprais-
ers, will take place tomorrow eve
ming at the Mayfiower Hotel, start
ing with dinner at $50.
George T. Wheldon, of Indianap-
oils, national president, will deliver
the principal address. A veteran of
80 years as residential appraiser.
he is widely known throughout the
country. Samuel Scrivener, sr., a
director of the Perpetual Building
Association and acting president of
the chapter, will preside.
Mortgages Increase Rapidly.
Nonfarm mortgages recorded in
the Nation in October totaled $422,-
100000, up 2 per cent from the pre-
vious month and per cent above
October, 1943, the Federal Home
Loan Bank Administration reported
yesterday.
During the first 10 months of this
year recordings by all types Of lend
ers aggregated $3.50 100000. a gain
of 81 per cent over the like 1943
period. Largely due to the sale of
homes. mortgages recorded by indi-
viduals in October reached s110,-
100000, surprisingly high figure.
Waller Given High Praise.
Wilmer J. Waller, chairman of
the District War Finance Commit
tee, and president of the Hamilton
National Bank, was showered with
praise yesterday for his part in put
ting Washington's $94,00O,0O0 Sixth
War Bond quota over the top. The
total had reached $95 400 900.
Mr.. Waller worked day and night
to make the drive a success. AS he
said at the beginning of the cam
paign, s94 100000 is a huge sum of
money. Only by remarkable CO.
operation was he able to exceed the
goal.
Folger Urges SEC Changes.
In his New York address Friday
night, j. Clifford Folger, head of the
Investment Bankers Association,
presented one of his clearest out
lines of what he believes the Securi-
ties and Exchange Commission
should do to aid the securities busi-
ness.
He insists securities registrations
should be simplified, that present
prospectuses greatly need streamlin-
ing, that the SEC should do more
for small business and that a COM
mittee of investment bankers should
be appointed and asked to hold fire.
quent meetings with SEC officials.
Whelan Makes $500, 900 Loan.
Walter c. Baumhogger, president,
United Cigar -Whelan Stores Corp.
announces that the company has
arranged with the Bankers Trust
Co. for l0-year loan of $500 900
at 212To, repayable in annual INSTALL
ments. Part of the proceeds will
be used to redeem on and after jan
uary 8, 1945. all outstanding S per
cent sinking fund bonds due in Oc-
tober, 1852.
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