The Washington times., 1913-08-23
MEETING
EAGERLY WATCHED
Washington Delegates to Chi
oago Convention Are in Eyes
of Local Intimates.

The outcome OF the conference Of
bankers. representing every section of
the United States. now being held In
Chicago to discuss the proposed Glass
Owen currency measure, is being watch
ed with interest by the Washington
bankers who are representing the
Capital financial men at the meeting.
The two delegates, w. T. Galliher, OF
the American National Bank, represent
ing the washington Clearing House AS
sociation. and John T. Poole, OF the
Federal National Bank, who is repre-
senting the District Bankers Associa-
ton, are expected to line I'D with the
faction favoring conciliation.
That this spirit should be shown by the
financial men of the country, is policy
OF the Washington bankers, and indirect
IL structions 10 this effect were given
the local delegates before their depar-
ture for Chicago.
The Washington representatives, both
Of whom are experts in monetary mat
ters. have given much study to the
pI opposed measure. Their close associa-
ton with the two trainers of the BILL
as well as with the members of the
Banking and Currency Committee, has
placed them in position where they
can speak authoritatively of the prob
able effects of the enactment of the
pending legislation.
Howard s. Reside, vice president of
the American Security and Trust Com
pany, Is now en- route to the wilds of
Maine to join his family. He will be
absent till the middle Of the coming
month. Charles ]. Bell, president of
that company, who is in the Canadian
Rockies, will be absent for a week yet
Corcoran Thom, also of the American
Security and Trust Company, has re-
turned from his vacation.
There was no session of the Washing
ton Stock Exchange today.
William D. Hoover, president of the
National Savings and Trust Company,
will return to Washington from an ex-
tended vacation early next month
What Washington banks will be desig-
mated to receive a portion Of the $780,
0o0. 600, which Secretary OF the Treasury
McAdoo is distributing for the benefit
Of Southern planters, has not been de-
termined yet Official announcement
will probably be made on Monday.
R. G. Dun's review Of the week today
says:
Recent expansion in commercial ac-
tvity is generally maintained, although
reports from the leading trade centers.
The holiday season tends to restrict
current demands, yet the movement Of
merchandise continues liberal and the
low position of stocks at all points leads
to increased preparation for future re-
quirements. Notwithstanding the deteri-
oration in com, agricultural prospects
are favorable and confidence is fully
maintained. sentiment responding to the
Improvement in the monetary situation.
Enlarged offerings OF accommodation
are noted at recession in rates, and
the forthcoming distribution OF Govern
ment funds is expected to prevent any
financial stringency this fall. The de-
mand for wool textiles is increasing.
and mill operations are expanding. while
dress goods and coating are active in
all novelty lines for fall.
Spring openings of dress fabrics have
commenced, and prices show less reduc-
ton than Is noted in mems wear. Tan
ners of leather are not carrying burden
some stocks, but current trade is quiet
as purchases are closely confined to
actual wants, Competition is becom-
ing keener in some branches of the iron
and steel industry. and concessions in
quotations appear more general"
Bradstreet's today says:
Optimism, concurrent with good buy
ing, furnishes the keynote for this
weeks trade report. Visiting buyers
nave held away in most OF the country's
leading markets. and while those from
parts Of the drought-afflicted South
west have operated rather conservative
ly, the general run have bought more
or less liberally. In consequence. house
trade, especially in dry goods and allied
lines, has broadened perceptibly.
Buyers from Kansas are more hesi-
tant than those from elsewhere in the
Southwest, but, on the other hand, the
leading market in that territory indi-
Gates that purchases do not reflect
much, IL any. restriction flowing from
damage TO the corn crop.
Makers of automobiles and of agri-
cultural implements have placed large
orders for sheet iron.
Business failures for the week ended
august p were rs, which compares with
272 last week and 264 year ago