The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1926-12-20
GOOD BUSINESS
SEEN IN 1927
By RICHARD HATTON

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By RICHARD HATTON
No boom in 1927. but a normal
and steady expansion Of retail and
wholesale trade, growing industrial
4: production, increasing bank loans
and deposits and, at least, an aver
age amount of building construction
seems to sum up the generally ex.
pressed pre-New Year prognostica-
,tions of economists and observers.
= In general. the majority opinion
seems to be optimistic. This IS
especially the case in regard to
Washington where, it is pointed
out, there Is every element neces-
sary to conservative business and
financial expansion. Recent action
Of boards Of directors of many
Washington banks in declaring ex
ira dividends. in transferring funds
to surplus and in other ways in.
dicating the present prosperity OF
these institutions are indicative or
the way the business wind has
blown here during 1926 and there
Il no indication OF shift to an
other direction.
A view was expressed today by
Washington Cadillac Company and
an observer Of local trends and con-
ditions for more than a quarter
century, which corroborates that
put forth by other well-informed
leaders in the National Capita!s
trade and banking circles. He said:
"There may have been other
years when the outlook was for
uerhans more stimulated activity,
yerging on the boom variety. but
never has a year doomed with such
sound, steady and stable conditions
Unless all signs fail, 1927 will
! witness q rising curve of prosperity.
which will be clearly felt IL every
section of our local economic struc-
ture."
That this will be the trend of af-
fairs is the belief of great many
men who have given close attention
to local business developments.
Stock of the Washington Mechan-
les Mortgage Company was listed
on the Washington Stock Exchange
today. This company was organ
lied about eight months ago by
President Ezra Gould, Of the Wash
lnRLOn
and the last issue of stock was
greatly oyersubscribed. 1t was
stated today that there are many
annlica lions for stock on file with
none for sale.
The last balance sheet of the
organization shows undivided prof
its of $29, 09S.47 A remarkable
feature of the organization and de-
velopment of the company is the
practically negligible expense OF
organization and operation. Officers
of the company are: Ezra Gould |
president: r. H. Bagby. vice presi.
dent; r. j. Groom. secretary and
treasurer. and M. w. Buckingham.
assistant secretary.
At the meeting OF the board of
directors of the Liberty National
Bank the following resolution was
passed:
"That a dividend of $3.50 per
share out Of the earnings OF the
bank for the six months ending
December 81. 1926. be declared. pay
able December 81, 1926. to stock.
holders of record at the close OF
business December %. 1926. books
not to be closed"
The current number of the Com
mercial National News, issued by
the officers and employees of the
Commercial National Bank, CON
tains a glowing tribute to the presi-
dent of the institution, r. Golden
Donaldson, and short sketch of
his interesting career. The occa-
sion for the article being the re
cent birthday Of the financier, which
was fittingly celebrated by the
employees of the bank on November
~ The article in the Commercial
News concludes:
''Mr. Donaldson has always had
the welfare of the employees close
to his heart, being held in high
regard by them, all Of whom hope
that the future holds for him many
returns Of the day."
''The sales of our overseas deal
ers," said Alfred p. Sloan, jr., presi-
dent Of General Motors, lin the first
. ane months Of this year totaled
$3.50 cars. compared with 67,76O1
ears last year. an increase Of ap-
proximately % per cent.
President r. L. Schreiner, of the
Bank of Brightwood, whose enthu-
siastic business energy has carried
his institution to a remarkable point
Of success, stated today that 60 per
cent of the Christmas savings
amounts distributed by the bank
had been redeposited in regular
Sc vings- accounts. Incidentally, Mr..
Schreiner is one of the youngest
bank presidents in the United States
and an egernetic leader in his COM
mpnity's development.
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