The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1925-08-20
U.S.PROSPER|TY
GREATEST
EVER
Financial Survey for First Half
of Year Brings Out
Huge Figures
By RICHARD HATTON

PRESTON WHICH mas DSSu clIAl4AtdISN
from the American vocabulary. IL
the statements regarding the finan.
cial condition of the people CT the
United States contained in recent
surveys conducted by statisticians
and others interested in securing
data Of a financial nature may be
taken in evidence. According to
many authorities the American peo-
pie today are. enjoying the greatest
measure of prosperity known in the
history of the county. It Is espe-
cially noted that recent months
have shown the greatest activity in
stock market transactions. corpora
ton financing, new investments in
enterprises of many kinds, as well
as in the matter of dividend pay
ing.
According to Trust Companies. a
financial magazine, Statistics never
reveled in such huge n1ultiples as
cast up by 1925 half-yearly sum-
Gnaries. Indicating volume of trade
and industry as well as speculative
activity, bank clearings for the first
half Of the year reached topnotch
aggregate of 247 billions. or Is per
cent over the 1924 period Freight
loadings of over 25 million cars
shows record velocity of distribu-
ton and rapid turnover. Building
construction for past six months
totaled $2,662, 000, 600, which is Is
per cent ahead Of previous high
record.
Record Motor Output
Motor car and truck output
amounted to 100000, which is
ahead OF the 1928 high record. For
eign trade for the fiscal year end
ing June 80, amounted to $3.50.
$4,000. the largest volume since
1921, with favorable export balances
Of $1.042, 6S1 900, stimulated by ov..r
q billion Of foreign loans and III.
vestments during that period Cot
ton crop Is estimated at 13,5S2.00O
bushels. Total 1925 wheat clop Of
679;59O. 900 bushels is forecast.
Railroad gross and net earnings
show substantial increase. Total
new life insurance business for last
six months amounted to S5,222.,-
900 1000. exceeding all previous IN.
derwriting. with over G5 billions in
force
The figures given above are
pointed to by local financiers as
being well worthy the serious at
tention of any American citizen
who may have feeling that there
is something wrong with business. |
Washington bankers who scan |
such statistics as these freely admit |
their natural optimism regarding |
the immediate business future of |
the country and point out that, un-
less there Is a wholly unexpected |
and practically impossible slump
all along the line, conditions ma
tiona5ly will continue at the pres
ent level.
The local viewpoint and general
optimism is supported by Trust |
Companies" which further states;
Huge Dividend Payments
''Testifying to industrial and
business activity July dividend and
interest disbursements totaled $437,-
100000, another high record. New
financing for domestic industrial |
utilities, railroads. ETC., broke all |
records during the first half year,
with total OF $2,762, 025. 900, against |
S2,O04, $4,000 for corresponding |
months last year.. Public utility |
financing alone accounted for $685.. |
100000. It IL estimated that $14,.
600, 900, 900 In tax.free bonds are |
now outstanding. New corporate |
CAAaI lGICO- June /
alone involved aggregate capitaIiza- |
ton Of S1,003, 10000. Lessened
business mortality is shown by de-
cline in number Of failures and lia- |
bilities. the latter showing recession
OF 80 per cent as compared with |
first half of 1924. Steel production
Is IL per cent of capacity.
Representations are that bust
ness will continue healthy and Wig
orous during the second half year
with somewhat sfirmer tone in
money rates Notwithstanding such
coincidence of favorable factors
there are undercurrents which spell
caution and justify check on
domestic financing and stock naaket
enthusiasm. Wholesale price index
Of Bureau Of Labor Stati-.' show
advance during last year from
1i4.6 to 1874, which is reflected in |
retail prices. Labor strikes in
anthracite and bituminous coal
Fields are threatened, which may
yield to Coolidge treatment" as |
last resort. Wage and price |
Etabilization are the two factors
most needful for sound business
and the elimination of iIlusory
y IL