Evening star., 1948-12-26
DC. Merchants Report
Christmas Volume
Al AII-Time High
By Edword c. Stone


By Edword c. Stone
Christmas trade In Washington
set new all-time peak In dollar
volume, leading merchants asserted,
as holiday sales ended in a wild
scramble for needed gifts. Final
figures were not available.
Department store trade in the
Capital reached the highest point on
record last year. This years sales
are expected to exceed the 1947
high point by 2 or 3 per cent.
The moderate gain in Christmas
trade means that sales for the full
year will be slightly ahead of any
previous IL months. The recent
trade slump in other sections Of the
country was hardly felt here.
The Federal Reserve Bank Of
Richmond reported yesterday that
store sales in Washing
ton for the week ended Saturday,
December 18 compared with the
same week last year but was per-
cent under the previous week. The
4 percent upturn compared with a
/ percent pickup in the Fifth Dis
trict.
In the four weeks ended December
18, sales here were up 2 percent
over last year; off / percent in the
Fifth District and in Baltimore.
In the first liz months of l948,
trade in the Fifth District was up 3
percent the report said.
Profit Sharing Plan Adopted.
F. w. Berens, president of Fred
erick w. Berens, Inc, announced
yesterday that the mortgage and real
estate firm has inaugurated a profit
participation plan for employees, eff
fective for the fiscal year 1948-49.
The corporation will contribute Is
percent of net earnings each year
to be distributed among employees.
Each person, not including officers.
will receive one credit for each six
of employment, the total
number of credits will be divided
into the amount to be distributed
and each person will receive a bonus
commensurate with the length OF
time of employment.
Computed on the basis of past
earnings, the average bonus would
be in excess of $400 per person, sew
eral would receive in excess OF ST 600
each. This is in addition to the
extra weeks salary always paid at
Christmas time.
Mr.. Berens added that he con-
siders all employees of the company
entitled to participate in the earn
ings. The plan is not philanthropic
or aimed at saving taxes. The in
centive plan naturally will improve
the firms service to the public, he
said.
Neiser Brothers Pay Bonus.
Fred Neiser, president of Neiser
Brothers, Inc, announced yeSter-
day the payment of bonuses in the
of over $4,000 to employees
of the company. Payment is being
made from the Rochester office to
employees in the compnay's lit
stores. The bonus is based on length
of service and is the largest ever
distributed.
The American Bankers ASsocia.
ton announced yesterday that dates
for the National Consumer Credit
Conference in st. Louis
will he March 20, 80 and 81 at the
Hotel Jefferson. In addition to
bankers, several government Off
cials are to appear on the program.
Real Estate Market Slow.
Amott- Baker & Co. says the per-
formance of the real estate securt.
ties in 1948, while favoring some in
vestors, was disappointing to many
others. It fell considerably short Of
up to the gains registered
during each of the preceding years
from 1941 through 1947.
For the most part securities prices
in 1943 held within narrow trading
limits during each month of the
past year. While the action of the
market supports the belief that
leve ing off process is under way, it
does not necessarily follow that
The next major trend will be down.
ward.
On the contrary, the present rela-
tionship between the prices of real
estate securities and the prospective
earning power of underlying prop
critics should provide a strong sup
port base for existing value, the re-
view says.
PepcO Holders On Increase
The latest summary by the Po-
tomac Electric Power Co. Of holders
of the common stocks shows 5,601
owners in Washington carrying
total of 947,774 shares.
The average holder has 1855 shares.
On December 81, 1947, there were
only $500 Washington owners Of
606.985 shares. They owned an
average of 1863 shares, however.
There were 1,768 holders of COM
non in Maryland with 1858 shares
and COS in Virginia with 86,674
shares.
Aircraft Shipments Noted.
Shipment of 290 personal aircraft
BY 10 companies during November
was announced here by Joseph T.
Geuting, Jr., manager of the Per-
;onal Aircraft Council, Aircraft IN
iustries Association of America. The
included 1873 four-place
planes and 102 two-place aircraft,
With total dollar value of 81, 100000
figured at the manufacturers net
billing price.
Sharp Rise in Quicksilver