Evening star. [volume] (Washington, D.C.) 1854-1972, 1945-03-18
Capital Easter Trade
Expected 10 Break
All Records
BY EDWARD C. STONE.

BY EDWARD c. STONE.
Easter trade in Washington de-
partment stores promises to eclipse
all former records, according to an
unomclal survey made yesterday.
Store officials report ample mer-
chandiSe on hand and a tremendous
demand for goods, resulting in very
sharp percentage increases COM
pared with last year and other years.
Merchants said yesterday that the
hot weather started an instant de-
mand for summer goods and that
for weeks trade has been registering
striking normal gains, regardless Of
Easter. The fact that Easter comes
q week earlier than last year is also
an important factor in the new
sales totals, officials added.
The latest official percentages re-
veahng sharp trade gains here were
reported by the Federal Reserve
Bank of Richmond yesterday, COW
ering the week ended Saturday,
March 10, when department store
sales scared "a per cent ahead of
the like period year ago. This is
the best weekly gain since the %
per cent upturn for the week ending
February 10. Sales in the fifth
district were up 81 per cent.
Sales in Washington ran Is per
cent ahead of the preceding week
this year, while cumulative sales in
the Capital for the four weeks ended
March 10 were II per cent higher
than last year, the gain in the fifth
district being 10 per cent, the sur
vey stated.
Stock Listing Due Shortly.
Following expected approval of
the SEC, the Prince Georges Bank
e. Trust Co. will have 10000 shares
listed on the Washington Stock Elk
change. OF these shares, 10000
have been listed for years, 5000
were recently issued and sold to the
public and 5000 were paid to stock
holders in the form of a stock divi-
dend.
The bank recently increased its
capital from 5000, 900 to $500 900 and
paid off all outstanding capital
notes, at the same time increasing
surplus from $325,000 to $500, 900.
The present stock listed on the ex-
change is quoted at % bid and 26
asked. 1t pays a dividend of 81
year, plus extras. The additional
listing will be the first on the ex-
change since the new Capital Tran
sit As were placed on the board.
Pioneer Bankers Recalled.
In his address before the Column
bia Historical Society, Fred A. EN-
cry mentioned many of the earliest
bankers in Washington. Coming to
later leaders in finance, he spoke of
Charles c. Glover, Charles j. Bell,
E. j. Stellwagen, John Joy Edison,
John B. Larner, George o. Watson,
William D. Hoover, George L.
Starkey, Clarence F. Norment, ST.;
Rolfe E. Boiling, George w. White
and E. j. McQuade, who are still
remembered and held in admiration
by the older bankers now in the
financial district.
One Of the first banks in the Cap
ital was branch of Philadelphia
concern, showing that branch bank
ing is a great deal older than many
people realize. The oldest banks in
Washington still in business, Mr.
Emery said, are the National Bank
of Washington. National Metropoli-
tan and the Farmers & Mechanics
Bank of Georgetown, branch of
Riggs National.
Reilly on Credit Program.
John A. Reilly, president of the
Second National Bank, immediate
past president of the District Bank
ers' Association and the chairman of
three former War Bond drives in
the District, will address the March
meeting of the Washington Associa-
ton of Credit Men. at the Lee Sher-
atom Hotel, on "Our National Debt"
Harry Beach will preside, dinner
starting at $50.
The Insurance Club of Washing
ton expects an extra Large attend
ance at Wednesdays luncheon at
the Lee Sheraton when Reed K.
Chambers, president of the United
States Aviation Underwriters Group,
will be the speaker, Secretary George
P Schultz said yesterday. Many
guests have been invited.
Moore to Talk About Jobs.
Martin A. Moore, controller of the
Hyatt Bearings Divisionsof General
Motors and president of the Ma
tional Association of Cost Account
ants, will address Washington Chap
ter Wednesday evening at the
Washington Hotel. John J. c. Mac
donough, president, announced yes
terday.
According to Mr.. Macdonough,
Mr.. Moore will explain why industry
must be stripped of Government
control and allowed to revert to free
enterprise, based on effective cost
controlled operating procedures, to
provide 100000 jobs necessary in
the postwar program. A round table
discussion also is scheduled.
New Records on Exchange.
Washington Railway 81 Electric
preferred sold at 1913 on the Wash
ington Stock Exchange Friday, a
new high for this year and last.
Bank of Bethesda stock appeared on
the board for the first time in 1945,
selling at 40.
Capital Transit As were strong
during the week, closing at los.
Sales were recorded in SIC, 900, s., 600,
$4,000 and other denominations.
Final bid was 1047s; asked, 1855.
Capital Transit stock, American
Telephone. Garfinckel common and
preferred and Woodward g. Lothrop
common and preferred are being
Washington 81
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