Evening star., 1925-04-21
BUSINESS IN CITY I
REPORTED STABLE
G. 0. Watson Reports to
Bankers CounciI-AsSocia-
ton Fees Are Increased.
BY .CHAs. r. sHAEFFER.

=
'Defiation of oyeroptimism. " but no
serious impairment OF the basic ele-
ments of prosperity, were the deduc-
IONS OF William z. Knox, president of
lhe american Bankers Association In
summarizing views on the course Of
business In recent weeks as expressed
by bankers gathering in Augusta, Ga,
from all parts of the country for the
annual executive council meeting of
the organization.
Ihe consensus is that basic ele-
nents of prosperity have not been
nurt py the setback in the wheat and
stoch sch exchanges, and that events
ehere DO not indicate changes for the
worse III fundamental conditions" Mr..
Knox said. There was a general con-
dltlon OF overoptimism. and this has
Deen largely Debated. The result is a
more wholesome and dependable bust
ness attitude for continued general
progress
Business Here Reviewed.
Washington's business cycle was re-
viewed by George O. Watson. president
OF the Liberty National Bank, dele
gate to the meeting, who reported: I'm
W Ndshlhgton, with semi-monthly gov
7n nno ID Ss pay roll covering upward of
iU,Ooo ofhcials and employees, mercan-
tile business is quite stable EXCEPT
When periods of. individual economy
prevail. This has been the situation
during the past six months, but the
outlook is encouraging for good
Sprlhg ana Summer volume of trade
Real estate values have held during
the past year and building permits
snow no indication of decreased build
ing operations Money for general
business and building projects has
peen plentiful, and deposits in the
nnanclal institutions are at the high
| point for all time
John b. Larner, president of the
washington Loan & Trust Co, and
/ joshua Evans, jr., executive vice
| president of the District National
bank, are also in attendance at the
meetings.
Bankers Raise Fees.
An increased scale of membership
| fees of the District Bankers Associa-
tlon was adopted at the Spring meet
| ing OF the association yesterday The
new assessment will provide for a
! minimum levy Of 800 a member, with
i.the additional amount necessary to
| meet an $4,000 yearly budget TO be
raised by an assessment in proportion
TO the total resources of each insti-
| tuition. The new clause strikes out
the old one, which provided for a fat
membership fee of $50, with additional
| assessments to meet deficits incurred.
Semi-final reports, prior to the an
nual convention at Hot Springs. were
submitted by ehairmen and subcom-
mittee chairmen of the various COM
| mittees who are reporting on special
| industries relevant 10 the banking pro-
| fession.
Trading on Local Board.
! the majority Of popular issues on the
local board prevailed on the Washing
| ton exchange this morning. Price
| changes were negligible, without dis
| tinct trend.
! Washington Railway common eased
off fractionally to 10S& on three sales,
aggregating Is shares, while the pre-
| ferred was likewise easier at 81 and
S0a4. Lanston sold fractionally above
| so, but Mergenthaler was unchanged
at 18012- Riggs National Bank
| brought 3425s and Gas Sc.
Bonds attracted but little attention.
! $4,000 Capital Traction 5s at 97l2 and
| $4,000 Railway As at 1912 being the
| only transactions.
Peter A. Drury, president of the
Merchants Bank and Trust Co., is in
New York on a business trip.
| Higher Rates Refused.
Increases in the rates on classified
| freight which railroads proposed to
make effective last December between
| Casper, Wyo., and Eastern cities were
held unreasonable today by the Inter
| state Commerce Commission. The
/! railroads were given permission to
! alter the present level of class freight
| rates applying to Casper from Chica-
go, st. Louis, st. Paul, Omaha and
| Sioux City. In laying down the basis
| the commission said that the class l
rates TO Casper from Omaha and Sioux
[ City should be fixed as S2.14 per 100
| pounds: from Kansas City, S2.37; from
st. Paul, S2.56: from st. Louis, $3.50,
and from Chicago. S2.93. The rates
on the other classes will he fixed in
proportion; and the railroads must
make the new schedules effective by
July 10.