Evening star., 1945-04-10
Fifth District Gain
In Store Sales Lags
Behind u. ). Average
By EDWARD c. STONE.

Department store sales IN the
Richmond Reserve district, which
includes Washington. in the first
quarter of 1915 we're 16 per cent
ahead of last year, the Federal Re-
serve Board has announced. The gain
for the Nation was II per cent, with
Minneapolis leading the IL Reserve
districts with "a per cent upturn
Atlanta and Kansas City regis
tered 20 per cent gains; Chicago and
Cleveland, 18 per cent: Dallas and
San Francisco, 16; Boston and New
York, II. Sales in st. Louis were up
19 per cent. The smallest gain in
the quarter was recorded by the
Philadelphia district, 13 per cent.
The survey points to the early date
of Easter as factor in the sharp
trade advances.
City Bank 80 Years Old.
The City Bank is 80 years old to-
day, having opened for business on
April 10, 1906, President C. F. Burton
told the stockholders at the annual
meeting this forenoon. Starting
with a single office, the bank now
has six, plus special banking IA
cility operated for the personnel at
the Washington Navy Yard. Assets
are in excess of $4,000 900. he said.
Mr.. Burton was reelected preI-
dent; F. w. Lee, F. H. Cox. B. NJ
Grant, J. c. PyleS, lr. T. p. Hick-
man, vice presidents; T. E. Elgin.
w. B. Mehler. jr.; J. G. Stephen
son. assistant vice presidents; NJ. H.
Buckingham. cashier: T E Norris.
T. G. Ridgely, w. T. Matthews. F.
H. Weaver, A. NJ Atkinson. A. L.
Deuterman. A. l.. Offenbacher. as
sistant cashiers Directors include
w K. Bachrach. Fred Hewitt. w.
F. Kelly. L. H. Phelps. J. B, Brewitt.
Messrs. Burton. Cox, Hickman, Lee
and Pyles.
Report Shows Sl52,792 Net.
Net income of the Real Estate
Mortgage & Guaranty Corp. in 1914.
amounted to Sl52, 1872, according to
the annual report of President
Ralph D. Quinter, distributed today
Total gross income in 1914
amounted to S343,563. Deduction
for general and administrative ex-
penses left net income before pro-
vision for taxes of S270,265. Pro-
vision for taxes required Sll7.473.
President Quinter notes the con-
tinued demand for housing accom-
modations which he says is greater
than ever before Funded debt"
does not appear in the report as all
mortgages on properties have been
paid off. Mr.. Quinter sees SubStan-
tial earnings after the war but looks
for rather heavy expenses for re-
frigeratlon and plumbing TO keep
properties up to date.
ABA Pushing Bond Drive.
The ABA is ready to play an i'm
portant part in the Seventh War
Loan drive, with Tom K Smith, st.
Louis. general chairman. Chairman
Smith SAYS the banks will devote
their major efforts to personal So
licitation in order to make every
American regular War Bond
buyer"
The Washington Office of Diebold,
Inc, producer of aircraft armor
plate, reports that two new directors
were elected at the annual meeting.
j. Brenner Root. Canton (Ohioy
banker, and Orville H. Foster, jr..
Detroit industrialist
Stocks now quoted eX-dividend on
the Washington Stock Exchange
and soon to make disbursements are
American Telephone. American Sc
curity, Riggs National. Hecht COM
mon and Security Storage
The Southern Railway has re-
duced fixed charges by 25 per cent
since 1882. Ernest E. Norris said in
his annual report