The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1925-11-24
D. c. BUSINESS
FAR ABOVE
NORMAL
Turnover in Stores and Bank
Deposits Are Clear Indica-
ton of Prosperity
BY RICHARD HATTON


There is nothing new In the state
ment that business is good in Wash
ington. For many months bust
ness activity in practically all lines
has been on the increase, and 1t Is
better than q normal business
season for this time of the year.
The evidence Of this better than
normal business is found in the
generally increased activity in the
retail trade which, almost without
exception as to line, has registered
q larger turnover this year than
during the corresponding month OF
last year. 1t is round in the IN
creasing deposits in the local banks
and in the size Of the savings de-
posits carried along with the check
ing and commercial accounts.
This Is especially noticed in re-
gard to Christmas Savings Accounts
which are reported larger tins year
than ever before. Between $4,VOU,F
600 and SIS 900 900 will be disbursed
within short time in Christmas
Savings Accounts alone. A. very
large percentage of this great sum
win go at once into seasonal pur.
chases giving an added stimulus TO
local trade.
While normal" as applied to
business, means that business Is no
better nor no worse than usual at
the season under observation, this
meaning Is hardly applicable to
conditions In washington where,
during the past few years, nor
mali has meant decidedly better
business than during the CORE
spending period OF the preceding
year.
Bank deposits are a very clear
criterion of business conditions and,
according to official bank state
ments in the District OF Columbia,
there has been practically q con-
tinuous upward curve in the mat
ter Of deposits.
That it is necessary to lit me
figure which constitutes q "nomi-
nall business level here is obvious
from q survey Of general conditions
regardless OF the seasonal activity
Of the pre-holiday period. Better
business has been prevalent all Tall,
better business is predicted during
the holiday time and better bust
ness is seen ahead throughout he
winter and spring
In other words. the old normal"
business standard, according to
business and financial leaders. is
too low for the present local con-
dition which is not transient. but
Is here to stay. Unless business Is
better IN Washington next year
than It has been so far this year
and as It viii continue until De-
cembef 81, business next year viii
be below normal. This is a con-
dition which no business man or
40 banker will predict. The gen.
orally expressed opinion is that the
excellent business and banking rec
ord Of the present year hereafter
will be taken as normal" and
that 1926 will register above nor
NAL.
That Washington is not alone in
the necessity Of raising the nor
mali level of business is Indicated
Ia reports of activities in practi-
caily all sections of the country.
Bank clearings have reached the
largest amounts ever reported. the
steel trade has registered a sub
atantial increase, chain stores and
department stores have all been
reporting especially prosperous sales
and, to top the optimistic indica-
tons, sales of agricultural nipple
nnents have registered q still more
IN the early tall.
Even a restriction in the present
ease OF credit, which is indicated
In some forecasts, cannot operate to
retard the general prosperous de-
Velopment Of business. When the
qualified experts, within q few
weeks, publish their forecasts for
1925 they will predict a better year
In 1925 than has been the year
1925. Already observers Of local
conditions are prepared to state
that business in Washington next
year will be above the normal"
the new normal" established this
year.
Bank presidents, bank directors.
high officials Of the present and
the younger officials of today who
win be the high officers OF local
banking institutions in the future
turned out in force last night, with
their families and their friends to
attend the third annual theater
party Of the Washington chapter
Of the American Institute Of Bank
ing. This Is a yearly social affair
under the direction of the local chap.
ter Of the institute and Is designed
partly as social gathering Of those
interested In banking and partly
az means OF providing funds for
carrying on the important educa-
tional work Of the institute.
During an intermission in the per