Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-09-01
T0HO[D|MPORTANT
FINANCIAL SESSION
Federal Reserve Board Gov
ernors and Agents to Meet
Here October 1916.

An I'm portant conference is Sched-
uled for Washington during the three
business days preceding the assem-
bling of the American Bankers Asso-
cation convention. October Is to 16
are the days decided upon for gen
eral conference between the Federal
Reserve Board and the governors and
federal agents of the twelve regional
banks of the federal reserve syst EN-.
The governors of these banks are:
Boston, c. A. Morse: New York. J. II.
Chase. acting: Philadelphia. George
W. Morris: Richmond George J.
Seay: Atlanta. NJ. r. WeIlborn: Chi
oago, ]. b. McDougall; st. Louis David
q. Briggs: Minneapolis. r. A. Young;
Kansas City. J. z. Miller. jr,: Dallas.
y: l.. Van Zandt. and San Francisco.
J. L. Calkins.
These. with the federal reserve
reserve board and the six members of
The board, will constitute an impor-
tant gathering. from which important
announcements are likely to emanate.
Coming just before the A. r. A. con-
Nention, it is more than likely MANY
of the members of the advisory coun-
ell of the Federal Reserve Board may
also be in attendance and leading rep
resentatives from banks all over the
country.
II IS lNOuElC more nan likeIN mat a
report on credit conditions may fol-
low: that thorough knowledge of the
situation financially, as it will be at
the time of the conference, may be
warrant for the lifting of the lid of
credit, or at least taking down few
bars in the gateway.
In any event. there will be. in all
probability. survery of the credit
situation and announcement on the
progress OF della ton as result of the
Confab.
Comment on Conditions.
r. \. Harper notes a slight improve
nent in the condition of the money
matchmaking in the way of ma
terIal let-up in the demand nor in
crease in the supply, but some few
gains in DEPOSITS. He looks for easier
money and lower prices for commodi-
ties after the marketing of the ready
for-marhet cattle. when corn and grain
and provision values should begin to
show real ShrinkageS.
Mr.. Harper finds more fault with
collections than shortage of loanable
funds. indeed most of the banks in the
city have admitted taking care of their
regular customers in essential lines
While refusing outside loans and nom
essential demands. He finds retail
customers not discouraged by the let
up IN trade during the last few days
IN August. but hopeful for a good fall
and winter business. as employment is
general and wages have not been re-
duced 20 any eXtent-indeed, there
nave been some advances.
Greater production of the essentials,
Mr.. Harper holds, should be encour-
aged and will be the most important
factor in cutting the cost of liv-
ing.
There are a number of very i'm
portant building ventures held in
suspense waiting for money to be-
come a little more plentiful. and this
city. where building operations should
be encouraged as a means of solving
the housing problem. which even
though it has been reported that
thousands have left. was never worse
than it is today.
Gas for cooking, electric light for
IN Mr.. Harper'S opinion. but point the
way to the solution of the heating
problem through the distribution of
heat from a central plant.
This method of furnishing heat is
in vogue in several places now, Oak
Park, a suburb of Chicago. is one
place that passed from the coal stage
joining are served by the public serv-
ice corporation of Illinois. This would
go a long way toward solving the
housing problem
Railway Preferred.
There was but one price for railway
preferred on today's session of the
local stock exchange, So shares in all
changing hands at that figure. Lans-
ton sold sparingly at 10.
In the bond section of the local
market Capital Traction IS brought
81, and the debenture IS of the Poto
mac Electric Company sold at s614
and 81.