Evening star., 1944-12-17
YuIe Sales BREAKING
All Records Here,
Retailers Report
BY EDWARD C. STONE.

dicted q new trade, record for the
holiday season, the forecast being
based on the continued Christmas
rush, longer buying period this year,
amount of goods still on hand and
the unusually favorable weather.
The Federal Reserve Bank of
Richmond announced that the sharp
est weekly gains of the Yuletdie sea-
son in Washington were registered
during the week ending Saturday,
December 9, when sales scared 26
per cent above the corresponding
week last year. Sales in the fifth dis
trict and in Baltimore were up "a
per cent.
Capital trade also revealed a 26
per cent advance over the preceding
week this year. This upturn in the
fifth district was IS per cent and in
Baltimore "a per cent. A group of
other cities rang up 20 per cent in
creaSes in their cash registers.
Cumulative sales in Washington
for the four weeks ending December
9 were IA per cent ahead of last
year, the best gain in the fifth dis
trict which showed an average rise
of 13 per cent; the review stated.
New Highs on ID. C. Exchange.
Hecht Co. common stock sold at
Washington Stock Exchange, a new
high for the year. Garflnvkel COM
mon changed hands at 203a ex-
dividend, also new high mark for
1914. On the New York Exchange,
Peoples Drug Stores common sold at
81, another 1914 top.
Several stocks on the Washington
Exchange will pay dividends in the
next few days. Now quoted eX-divi-
dend are Garfinckel common and
preferred. Mergenthaler Peoples
Drug, Real Estate Mortgage & Guar
anty preferred and Woodward &
Lothrop common and preferred.
Gen. Hines Chief Speaker.
Brig. Gen. Frank T. Hines, admin
istrator of veterans affairs, will ad-
dress Washington chaper, National
ASSOCIATION of Cost accountants, at
the Washington Hotel Wednesday
evening on "ReconVersion and Re-
employment" "
The address will be of wide in
terest. Twenty million employees inI
war industry and II 100000 persons
in uniform, or nearly one in every
four of the entire population of
the country, are potentially affected
by the retraining and re-employ-
ment program.
Gen. Hines address will be one of
the first comprehensive statements
of their rights and privileges under
this legislation.
Loan Executives to Meet
The December meeting of the EX-
ecutive Committee of the District
Building and Loan League will be
held Tuesday noon at the May
flower at 1890. A luncheon will pre-
cede the business session.
William Gordon Buchanan, for
years a certified public accountant
In Washington, will address District
of Columbia Control, Controllers In
stitute of America, Tuesday evening
at the Carlton Hotel on Imitation.
Dinner starts at $50.
w. Mason King, promoted to as
sistant vice president of the South
ernfRailWay in Washington, will be
succeeded in Cincinnati by William
J. Wilkins of st. Louis, who started
his railroad career in the Southerns
Offices here Five other promotions
were announced yesterday.
Savings Reach All Time Peak.
The Securities and Exchange Com
mission reported yesterday that saw
ing by individuals in the third quar-
ter was at the highest point on rec
ord. Total liquid saving amounted |
to S10,6OO,O0O 900.
The proportion of income saved
was the highest since the third quar-
ter of l943 and was close to the all
time mark reached in 1912.
A S6,400,000, 900 increase in cash |
and deposits constituted the largest
component in third-quarter saving
Individuals added $4,000 100000 in
Government bonds and 81 900 900 900
in life insurance, the report said.
Considerable Building Likely.
The Federal Reserve Bank of |
Richmond says it will be reasonable |
to anticipate considerable building
in the fifth district as soon as ma
terialS and labor become available
The extent to which this industry re-
covers will temper by that amount
the decline in business occasioned by
cessation of war production.
Public works programs designed |
to bridge over the reconversion gap
are being planned on a broad scale
in States, counties and municipal
tiles. GI loans for homes and ac-
cumulated savings by fifth district |
residents will help expand construc-
ton, the bank stated
Loan Payments Set Record.
Repayments by home borrowers to
building and loan associations in the
first nine months Of 1914 were Suf-
f1cient to provide 81 for every S132 !
which was advanced to new bor-
rowers, a new record, Morton Bod |
fish. executive vice president of the
United States Savings and Loan
League, announced yesterday. For
long time the rapidity of loan pay
ments has been most impressive.
Cautious Spending Urged.
Mariner S. Eccles, chairman of
the Federal Reserve Board, is stress
ing the importance of War Bond
holders keeping their investments |
after the war ends. He hopes that
the heaviest spending will be from
current income and not through the
rapid redemption Of War Bonds. He
says buying spree would surely
cause serious imitation.
Keen interest prevailed in Wash
ington brokerage Offices again yes
ter6av fo1louinp Eridav'c spirite6
session during which 148 stocks
reached new 1914 high marks
Bios for Hamilton Bank stock
National Press Building As, Wash
ington Properties and Washington
Railway & Electric units advanced
in the over the e-counter market dur
ing the week.