The Washington herald., 1922-04-04
CAPITAL TRACTION.
FEBRUARY INCOME
TOTALS s94,l76.69
Loss of $10,757.95 Over
Month Last Year; Other
Local Financial News.

The Capital Traction Company
was operated at a net income Of
Ss4,1Isss during the month OF
February. 1899. according. to a
statement of earnings hled with the
Public Utilities Commission yes
terday. This amount represents
loss of sIo.575.s5 over the corre-
spending period a year ago when
Sio4T52.s4 was reported. jan
uapy's net income amounted to
s104.Tso3s.
Total revenue from transporta-
tion for the period amounted to
sIes,F83,7.. with total expenses
amounting to s315,Isl.6s. Interest
on the funded debt for the period
amounted to s23.s5s.3s.
Fifth District Business.
February being a between-season
month. when the winters business
Is done and spring trade has NOT
opened up. Il Is dificult to esti-
mate. the progress made during the
month toward normal activity in
the abusiness world. but on the
whole favorable signs appear to
predominate. according to the Fed
eral Reserve Bank OF Richmond in
its current review OF this district.
,Eizhty-two regularly reporting
member banks, located in thirteen
cities of the Fifth district. have
reduced their outstanding loans and
their rediscounts. while increases
are reported in their deposits and
reserves. Bills held by the Federal
rsIeEye Bank has fallen. and the
reserve ratio has increased. Debts
to individual account reported by
eleyep leading cities compare fav-
orably with debts a year ago. ana
reflect q growing activity in trade.
The labor situation is still unsat-
isfaetpry. but the number of unem-
ployed is gradually lessening. Coal
production Is more than meeting
current needs and appears to be
still increasing. Retail prices OF
clothing and shoes are working
downward to a more satisfactory
basis to the consumer. The out
look In the textile trade Is consid-
cred good by our correspondents.
though orders at present are being
placed reluctantly. The prices OF
the chief farm products have In
creased. bringing some relief to the
farmers with reserve stocks in their
possession. and this improvement In
farm product prices has had a gen.
eral stimulating effect on all the
business of the district. Building
operations continue to exceed those
oF'-t the previous year. and letters
FROM building inspectors. dealers In
bu[rding materials and real estate
men indicate a general feeling of
optimism and confidence. whole
sale and retail trade is fairly salts
factory. and at least Is holding Its
own.
The chief unsatisfactory elements
in the present situation are the
large number Of business failures.
fbe existing scale OF freight rates,
tHe strained credit conditions In
the agricultural sections where the
previous years indebtedness has not
r,een paid. and the uncertainties in
the business world arising from
tariff. tax and soldier bonus agita-
tlons.
District Bankers to Meet.
4 meeting Of the entire District
- Columbia Bankers Association
viii be called within the next week
or ten days for the purpose OF ap-
rrovinE tentative plans for the
leasing of the second floor, Masonic
Temple. as permanent quarters for
the, association as well as for the
Washington Chapter. American In
stftute Of Banking. Announccment
70 this effect was made yesterday
by John F. Larner. president.
Mr. I.arner. Immediately upon be-
ing ushered into his present office
with the association at their annual
convention last June. voiced his in
tention Of providing quarters which
would fittinEly uphold the prestige
enjoyed by the District bankers. but
laok OF proper cooperation pro-
dueed only mediocre results thus
FAR That the well warranted plans
are now assuming definiteness. will
Re a source of pleasure to every
banker who sincerely holds the in
terests Of the District Of Columbia
Bankers Association at heart.
Heads Convention Committee.
Victor B. Deyber. president of the
SECOND National Bank. has been ap-
rointed chairman OF the convention
committee for the present year.
Mr.-Deyber will shortly appoint a
reneral convention committee ICON
sistinE Of the heads of all local
bank9 a convention program COM
mittee. enterts inment committee,
transportation and hotel committee
md a publicity and press commit
tSe. he announced yesterday,
.s.r Bank Merger. Effective.
The Merchants Bank and Trust
Company opened their elaborately
appointed new home at Fifteenth
and H streets northwest. in ap-
proved style yesterday The insti-
tuition. for the time being at least.
vas the most beautiful in the city.
Sozens upon dozens OF floral trib-
utes from all parts OF the country
haying been sent to mark the
event.
The entire oficial family. as we'll
as a =oodly proportion OF the di-
rectorate was on hand to welcome
customers and guests. After clos
ing hours a reception was held
which lasted until 1880 p. m.
Continental Trust Co.
The Continental Trust Company
also began functioninR Yesterday
as the consolidated institution OF
the Continental Trust Company and
the Union Savings Bank. at Four
-