Evening star., 1925-07-25
LOCAL MAN SLATED
AS FLOUR OFFICIAL
More Failures in Week;
More Women Buy Stock;
Other Financial Notes.

UlIlcI TIIIdiICldI MULES.
F. r. Eaton of this city, manager
here for the Washburn-C Crosby Co
will be elected one of the six regional
vice presidents of the company at the
September meeting of the board of
directors, it was announced from New
York today
James e Bell. heretofore a vice
president, was yesterday elected presi-
dent TO succeed John Crosby. who re
tires TO become chairman of the board.
More Business Failures.
Business failures in the United
States this week were 80 more than
the 406 reported to r. G. Dun &
Co. the week before. A year ago the
total was 399. The weeks increases
were chiefly in the East and on the
Pacific coast.
Duns further says
More firmneSs in commodity prices,
relatively large demands in various
trades and an improvement in senti-
ment are distinctive phases of the
current business situation. A con
traction of activity usually occurs in
Midsummer, yet much less of it ap-
pears at present than was the case
year ago. Fundamental conditions
for future expansion
Even now, despite seasonal re
straints, operations in certain lis as
in steel, textiles, footwear and hides.
are broadening, while the position Of
different sellers is strengthened as
markets become steadier or tend up
ward. Narrow profit margins con
tinue to occasion complaint in some
industries, but for eight consecutive
weeks advances in wholesale quota
tiOns have predominated and more
than one-haf of this weeks increases
IN Dun's list are in other articles
than foodstuffs. Among the com
modities which have recently reached
higher levels are copper, lead, zinc
tin and hides.
Record Business Volume.
An optimistic view Of the present
general business and credit situation
is taken by Charles F. Mitchell presi-
dent of the National City Bank of
New York.
"All of the reassuring conditions
which contributed to the revival of
business at the beginning Of this year
are still present" said Mr.. Mitchell,
''and the confidence then generally ex-
pressed is being justified. Since that
time, to be sure, there has been
enough pessimistic talk TO hold opti-
:
enterprise which could be discouraged.
but in spite of il, the volume of busi.
ness has been greater than in the first
six months of any other year, and if
the crops come through as they now
promise, new impetus viii be given
to all business
Women Buy Pennsy Stock.
Records of stock ownership Just
compiled by the Pennsylvania Railroad
show that the number of people who
have invested in the company are
now three times as many as there
were Is years ago. During the I5-year
period the spread of ownership Of the
company's stock has been particularly
marked among woman investors. They
have increased not only in actual num-
Der, but also in the proportion of their
holdings TO the total amount of stock
outstanding, which for the greater
part of this period has remained the
same, 9,985,31 shares.
In the last five years alone the
number of Pennsylvania Railroad in
Vestors has increased about 10000
Clearing House Report.
The Credit Clearing House weekly
report shows a decided Improvement
IN the purchases of the United States
over the previous week by a gain Of
26 per cent The mountain section
was the only section reporting a de-
crease, which amounted to O.4 per
cent. The Pacific coast section had
a gratifying increase of A per cent.
The South agricultural section had
the next greatest gain, having increas-
ed per cent. The middle agricul-
tural section and the East section
each showed an increase equal TO "a
per cent. The North agricultural sec
ton reported the smallest increaS Sc
with 0.S per cent
Compared with the corresponding
week last year a loss of IA per cent
is reported for the entire country in
its purchasing.
Credit Demands Increase.
Increased credit demands in the
fifth district resulted in a decline in
the reserve ratio of the Richmond
Federal Reserve Bank from 6O.97 per
cent TO 59.09 for the week ended July
Discounted bills on hand moved up
$4,O7l,O00, to total of S51, $40 600
Total reserves declined from SS3.3s2.-
000 to SS0,8S9. 900, due chiefly to a
reduction of S2,671,00O in gold reserves.
Federal Reserve notes in circulation
at the Richmond institution amounted
to S68,759,000 compared with S69637,-
600 for the previous week, while de-
posits totaled $6S, ,134 900, an increase
of S1,019,000.
Childs Heavy Stakeholder.
Samuel S. Childs, restaurant man,
who died March II, left an estate of
$1,453,000, a large part of which was
in stocks of the Childs Restaurant
Co., New York reports state. Mr..
Childs held 5000 shares, appraised at
$110.50 share, total of $552 500.
Appraisal of the estate was filed by
the New York State Tax Commission
yesterday. In addition to the restau-
rant stock, Mr.. Childs held S2S2, ,409
cash.
The estate goes to the widow Emma
Francis Childs, sole executrix.