The Washington times., 1925-09-10

PETER A. DRURY
Cheerful, indeed, is the outlook OF
President Peter A. Drury, Of the
Merchants Bank and Trust Com
pany, regarding business prospects
in Washington, not only for the
coming fall and winter, but in the
immediate present.
Taking into consideration the
trend of business during the last
few months said Mr.. Drury,
months in which business has been
good in spite of the fact that for
many years this has been consid-
cred a dull season in Washington,
it is quite impossible to see any
thing but better business on the
immediate horizon.
Taking a broader vision than is
included in merely local conditions
as they appear from a statement of
the summer business activities in
the Capital, Mr.. Drury said:
"In making an estimate of any
large locality its connection with
the rest OF the country must be
borne in mind.
1.-THE fluctuations in the steel
trade are reflected far beyond the
borders of the great steel-producing
States.
1.-The coal output influences CEN
ters far removed from the coal
mines. Conditions upon the farms
throw their shadow or their sun
shine broadcast over non-agricul-
tural communities.
I'm fact, agriculture is one of the
Fy,f1
perity in the entire country, and,
with every other large city, be it
a manufacturing center, a coalpro-
ducing center, wholesale center,
or, as is Washington, merely a gov
Ornamental center, the business
barometer is subject to the influ-
ences Of conditions in the agricul-
tural regions.
This being the case. it is i'm.
possible to predict the business
future Of even the National Capital
without taking into consideration
tn" condition of the farms in the
great agricultural belt.
Naturally, my information as TO
the agricultural outlook must be
based almost entirely upon official
Government reports, but it is clear
from these as they have come to
nay observation, that this will lie
a good year for the farmer.
~ far better year than he en-
joyed last year, with marker
which will well reward him for his
labor. | have noted in many years
experience that a prosperous agri-
cultural year has always been fol.
lowed by a prosperous business
yea:
"In this, of course, Washington
shares with other cities in the
general prosperity that comes from
increased return to the farmer.
Il am convinced" continued Mr..
DrUry, " that Washington, while L
may never be a great Industrial
city, will continue to grow as Il
governmental and residential city,
and, after all, the government pay
roll is equal to the pay roll Of
many of the industrial centers and
it is not subject to the usual sea-
sonsl or strike fluctuations.
ION the other hand, there is an
increasing class Of residents who
have no connection with the Gov
eranent, or, possibly, only a bus
iness connection with Government
enterprises. who are bringing their
incomes to Washington.
"These people are purchasing
homes here in ever increasing mum.
bars and are adding their purchas-
Ing power to the community.
"They, with other large numbers
who live in the Capital city merely
for their own pleasure are a Ge-
cided stimulating influence In our
commercial life.
Washington has one great ad-
vantage over many other cities in
that it, very properly, is being made
the "shoW city, or the nation. l
mean that Congress is now indicat.
ing a constructive desire to carry
forward the very practical plans for
a comprehensive development of the
city according to a definite policy
covering a number of years
This means the expenditure of
many millions of dollars here and
1t is obvious that much Of this
money will eventually find its way
in one form or another into bust.
ness channels.
1T also means that with the in.
creasing attractiveness Of the CITY
and its environs, there will be in.
creased tourist travel as we'll as
home building. This will require
greater traffic facilities and multi
piled service of every kind, result
ing, again in more population with
larger buying power.
This urge is already being felt in
the business life of the CITY and II
will become stronger as time goes
on.