Evening star., 1949-12-05
Capital Construction
In October Holds
Biq Gain Over 1948
.By Edword G. Stone

F. W. Dodge Corporation re.
ported today that contracts
awarded for building and heavy
construction in the District o1
Columbia in October totalee
So ST. 900 to show a decrease oi
80 per cent from September ano
an increase of rs per cent over
October of last year.
Nonresidential building awards
totaled $1,000 10 per cent
lower than In September and 6;
per cent lower than in October 9
year ago. Residential awards ir
November amounted to $7,038, 900
a gain Of 8 per cent over Septem-
ber and 440 per cent over October
1948.
Heavy construction, such al
highways. bridges and public utili-
ties, had a contract value o1
$4s3 900 in the District in October
against $685. 900 in September anc
$753, 900 in October of last year.
In the first 10 months Of thi.
year, the value Of awards aggre.
gated $1o7,77s,0O0 or 73 per cent
more than a year earlier. Non
residential building increased 81
per cent, residential increased l4s
per. cent. and heavy construction
declined S per cent.
Contracts for building anc
engineering projects in the Wash.
ington Metropolitan Area totalec
$26, ,926 900 in October to show 8
decline of SO per cent from
September and an increase Of II
per cent over October Of last year
Exchange Plans Announced.
Capital Airlines debenture
holders, who have accepted the
company's exchange offer, have
until December 80 to deposit their
31a% debentures with the Bankers
Trust Co., New York, officials an
r,ounced today. 1t is expected the
news4% Debentures, Series A and
sertE B will be available in tenn
poraffform for delivery around
Decenih Is.
The tieM debentures mature on
September /, 1860. which is the
maturity date for the present de-
bentures. Interest on the new
Series A Debentures will be a
fixed charge at the rate Of 40
per year payable whether or not
earned as contrasted to interest
at the rate Of 31z%o on the. pres
ent issue which is payable only
to the extent that available net
interest for payment Of interest
Is earned.
Cities Report Trade Drop.
The Federal Reserve Board re.
ports that nearly all the leading
cities In the United States hac
lower department store sales ir
the first 10 months of 1949 thar
! year ago.
The Fifth District led in excep.
tions, with small trade gains ir
Washington, Charleston and Co.
lumbia, S. c.. and Charleston
W. Va. In the Atlanta district
Savannah and New Orleans re.
ported small advances.
Reserve districts reporting nc
gains included Boston, New York
Philadelphia, Cleveland and ST.
Louis. Kansas City, Dallas and
Chicago areas noted gains in one
or two cities.
Heard in Financial District.
Christmas tree light bulbs will
be plentiful this year for the first
h.me since prewar days. Westing-
Souse Electric announces. There
are said to be 400, 600, 900 bulbs or
hand. -..
The executive committee Of the
National Association Of Insurance
Agents meets at headquarters here
Thursday. Greater benefits FOL
xe smaller agencies will be a spe-
c:-l topic. Forming Of regiona.
< '..itories is also under considera-
n.
IN his monthly letter, Henry H
Eeimann, executive head OF the
National Association of Credit
MN, reviews what former Presi-
tents have said on economy. He
quotes Franklin D. Roosevelt:
ANY Government, like any fam
lily, can for a year spend a little
more than it earns. But you and
I know that a continuance OF that
habit means the poorhouse."
The Washington Stock Ex-
change will be closed Saturday
December "a, in line with the
planned closing of the New York
Exchange.