Evening star., 1921-10-31
BUSINESS GAINS
DURING OCTOBER
S10.226, 900 Gain in Local
Bank CEearings Makes
Outlook Encouraging.
by 1. A. FLEMING.

Washington business is fairly start
ed on the road to prosperity. Good
times predictions are to be realised.
November will mark a fuller realiza-
tion of the benefits that the city will
enjoy in a business way.
October returns have been decidedly
encouraging.
This is the story told by the clear
angs of the local banks for the month
Of October, and they are unfailing as
barometer For the month of Sep,
tember the daily clearings totaled
sS6.75%,o2A29.
October clearings, $7s.9S0.S74.6s, a
the full measure of the October en-
cOuragement, a gain of over $4,000 q
day FOR each OF the twenty-six work
ing days in the month.
Moreover. the last few days of the
month showed the greater gains, indi-
cation that the betterment is at hand.
Makes Appointments.
Col. Thomas S. McAdalns. president
of the American Bankers Association,
has appointed the following as men,
hers of the executive council at large:
Percy H. Johnston. president of the
Chemical National Bank of New York:
soHH w. otdley. nedu OIL TcOplc ,
State Bank of Detroit; George Wood
run. president of the First National
of Joliet, ILL.,, and Oscar Wells. presi-
dent of the First National of Bir-
mingham.
Chairmen for the four commissions
OF the American Bankers Association
were appointed as follows: Com
merce and marine, Fred I. Kant:
agricultural, Joseph Hirsch: economic
policy. NJ. A. Traylor. and public re-
latinnS EranciS II
Local Securities.
Today's session of the local stock
, exchange was not especially active,
but at the same time it was rather
interesting. For the first time in
several days bonds were neglected.
but the bid prices were near the top
of recent transactions.
Washington Gas 71s per cent notes
sold at 103.
Railway preferred was stronger at
5I and Washington Gas a'shade hrm--
er az 4sA. Lanston sold at 71% and
. continental Trust shares at 100.
Personal Mention.
Harry Lymon Dunwoody, who has
represented the National City Com
pany locally for some time as bond
salesman, left today for New York,
where he will sell bonds In tho down.
town section under Eugene E. Allies
/ of the National City Company. Mr..
Washington during his stay here.
Pennsylvania Earnings.
September's gross income of the
Pennsylvania system was $5o, ,113,922,
a decrease in comparison with the
gross for the same month last year
of 1851. .77S. and yet the company show
ed $101.777.50 increase in net operat-
ing revenue. With the gross indicated
the net returned was $27, ,625.704. while
last year the same months operations
returned a deficit in the net revenue
of $74.151,s04.
e; Equipment aiIs1,sns and upkeep of track and
Frozen Credits.
The borrowing of the Richmond
Dallas and Atlanta banks from other
banks in the system indicates that
there are frozen credits Of large
amounts throughout the south. that
their customers the advantage of rea-
sonable discount rates. Atlanta heads
the list with t15,s5S,o00 borrowed. but
Richmond il not far back of Atlanta.
; is s43. .7s7, 600. compared with $247,-
O7S.000 q year ago.
Settle Old Suit.
J. s. Rache. chairman of the share
, holders protective committee of the
Toledo, st. Louis and Southwestern.
announced the settlement of a long
pending suit today. The entire
$16,00O,000 of the company's A and B
bonds are lanceled with all coupons.
the A and B bondsolders taking back
all Chicago and Alton stock pledged
and $1,13o,000 in cash. The share
holders committee is to turn over
TO the bondholders 10 per cent of the
common and preferred stock of the
Toledo, st. Louis and Western sys-
rem. The settlement has been ap-
proved.