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STORE SALES RISE SLIGHTLY IN APRIL In Country As Whole Gain Is 5 Per Cent., But Baltimore Shows 4.7 Per Cent. Decline EARLY EASTER FACTOR Washington Trust Of Ellicott City Reorganization Plan Approved By Ghingher By J. ARMSTRONG Preliminary figures on the value of Hepartment sales in 547 stores in the United States little change from March to April, when allowance is made for the of busiiness days, and for changes in the date of Easter. The Federal Reserve Board's index in April on the basis of the average 100, compared with 77 in March and 71 in In comparison with year ago, the value of sales for April per cent. larger. Emphasis was laid on the fact that Easter this year than last, so that this year's figures include Easter shopping, while the figures for last include two of such trade. Increases pared with last are shown for eight districts, largest gains having been in the Atlanta, Chicago and Dallas aggregate for the first four months of the year was 22 per cent. larger in the country as whole than last year. Gain In Fifth District Department store sales in the Fifth Federal district April averaged per cent. more in dollars than year ago, and cumulative sales for the first months of this year showed an increase of 20 per cent., according to the statistical department of the Reserve Bank. Sales in Baltimore decreased 4.7 per cent. in April compared with the 1933 month, but increased 17.3 cent for per the first The April dethe first to be reported by local stores June with the single exception of last when decline of 1.6 per cent. was shown. Sales of the stores scored jump of 57.8 per cent. in March but was made the bank holiday period and sales were benefitted by an early Easter trade. 68 do pf. Changes In Cities Individual changes of principal the Fifth district for do pf. April and the four Jan Tob. Huntington 28% do pf. 16 27% 16% Figures compiled for various States of this district showed the Carolinas well in the lead, eleven stores in that do pf. area showing an increase of 15.7 per cent. for April and 34.1 per cent. for the four months. Virginia reported an increase of 4.9 per 24% 18 cent. for the month and 24.8 per 100 for the period. West Virslipped back, in that Arm State reporting decrease of 6.7 per cent. in for April, but an increase of 33 per was shown for the Arnold four It was pointed out by the Richmond Reserve Bank that of April business in this district, as was the case the country whole, was 50 more than the percentage figures alone indicate, due to the early Easter trade this year Ellicott City Bank Plan plan of reorganization for the Trust Company of Maryland Ellicott City has been approved by State Bank John Ghingher. The provides for the formation of State bank to be known the Howard County Bank, capital of $50,000 and surplus $10,000. The plan was drawn up by25 per cent., interest, depostiors under the terms of the Maryland emergency banking act. liquidating agency is to be formed to be called the Howard County Liquidating Corporation and, on approval by court. the bank commissioner, as receiver. will turn to this corporation all assets in his possession. The corporation own all stock of the new bank except diThe provides that, at the time the opened. each will receive at least 25 per cent. of his balance The Washington Trust Company was taken Central Trust Company of Frederick as branch a few months the closing of the Central Trust Company in September, 1931. Subsequently the court at Frederick put the bank back in its original independent and made the Bank Commissioner receiver on December 1933. Middle States Loss Smaller A net loss of $302.726 was reported for 1933 the Middle States Petroleum Corporation and affiliated 19% companies, including the Louisiana and North Western Railroad, after Butterick taxes, interest, depreciation, depletion Byers and other charges. This compared 4734 with net of $346,203 for the previous year. Balance sheet of petroleum comits affiliates, exclusive of the showed assets Canad of $1,068,479 and current liabilities of $225,476 as of December 31. 1933. 39 26% Cash the close of the year was 86% $805,530. comments stockholders, Joseph Glass. said the im- Celotex mediate outlook for 1934 far 22% promising than it has been at any 3234 24 02 time 1930, when the company able to With proration more effectively controlled. the average price being received by the company for its oil is 94 cents 10 Checker (barrel against 59 cents during 1933 34 The prices now prevailing, Mr. Glass said, should enable the company to 15 operate profitably. Frank B. Cahn, of Baltimore, is director of the company Local Clearings Again Increase Baltimore bank clearings increased 54.1 per cent. over last year during the 28% week of May scoring the second widest gain of any leading city of the country. according to the nation-wide 11% report of Dun Bradstreet. Clearings here totaled $54,085,000 11% Childs changed slightly the pre60% coding when the aggregate was 24% 67
