Evening star., 1923-01-30
MONEY IN PLENTY
.F0R:|IN|vESTMENTS
Banks All Over Country Com
plain of Dearth OF Bor-.
rowing Demand.

Money is light, according TO reports
from banks in all sections of the
country.
Bankers everywhere complain OF the
dearth of demand for business money.
Meanwhile tho banks are gaining
stronger position, and are now in
such shape that they could finance
with great case considerable ex-
pansion in business.
This narrow demand for accommo-
| dation is the more surprising when II
is considered that every line OF bust
ness shows activity: Textile mills"
says the Wall Street Journal ARE
running to. capacity; steel mills are
approximately 90 per cent. Iron and
steel mills as booked well into the
second quarter. Copper buying is also
marked by second quarter delivery.
Railroads arc placing large orders for
cars. locomotives and equipment.
Eailroad f"eight loadugs continue to
MI this serves as an index OF in
creased buying in general business
and industry. extending from the con
sumers back to the factories.
Agriculture Finance Better.
Agriculture from a financial stand
point Is getting better. although the
farmers dollar opened the new year
cents before the war.
For last year the average index
number o. the purchasing power of
farm products in terms or other cor.-
modities that farmers bu- Was ~, :ln
increase OF points over 1921. Bat 4
I. decrease of II points fr",2 the 1920
NaNerage, according to Department Of
Agriculture index figures just con
pleted
December improved ore. November.
nf lIpy- in h,Ap
shown in the index number OF the
average farm prices of ten leading
crops and decrease o; poirt in the
prices of commodities. excluding farm
and food products. that farmers bu=.
e. q II. Tel. Co. Report.
Net income of the Chesapeake and
Potomac Telephone Company of the
District Of Columbia for 1929 amount
ed to s1.11I,Ss6, representing d gain
or S196.533 over the previous year.
according to figures made public yes
terday by Albert T.. Berry, president.
Total telephone. operating revenues
tor the year were sJ.275.94o. while
telephone operating expenses aggre-
! gated S3.1 56.596. Revenues increased
S444.32I over 1921. or S.42 per cent.
operating expenses were $4,000
higher than for The previous year.
The total number OF telephones in
| operation in the District at the close
OF 1929 was I0l 900. An increase OF
touo over the La HS UTe. ne lOtell
ralue Of the, company's plant in the
District was Sl5.111.9S6. which repre-
Scnts an addition of equipment dur
ing the year totaling sS7%.5lI- in
value. or AN iccrcase Of o.S6 per cent.
While revenues increased s42 per
cent. expenses increased only IS per
cent, Indicating greater efficiency III
the management Of ;he company.
Net income .or december amounted
10 Sll2.G2t. as compared with sll4.3J4
f"T the preceding month. Total tele-
phone operating revenues we're s+62.-
5o4, while telephone operating expenses
amountei>to s3el.9 During the month
the ccS4ny added plant and equip
ment totaling in va'ue s251,3q6.
Balance for corporate surplus for
| 1922 amounted to sl70.396, gain Of
n $68,S53 over 1921. Dividend appropria-
ton OF income was s1,007 500. or s227,- :
100 greater than the preceding year.
Reelected Trust Officer
Charles d. Boyer cashier of the Fed
eral American National Bank has been
reelected member of the board Of
directors of the Clarendon Trust