The Washington times., 1926-01-09
BANKERS SEE
GOOD YEAR
By RICHARD HATTON

In a financial sense, or possibly,
to he accurate, in a banking sense,
Washington is linked with the States
o.. ne. fifth, Federal AReserve Dis.
triet, or, the Richmond Federal
Reserve District, comprising Mary
land. Virginia. North Carolina and
South Carolina.
This grouping is officially made
by the Treasury designation of the
District. but the economic relation
Of these several commemorative
makes them, more or less, inter
dependent regardless Of the Federal
T. .crve Act. However, for pur-
poses of prognostication, what is
- .-e est OF the Fifth Federal
District is true of Washing
ton and, for this reason, it is of
10 note no reaction or the
bankers of the Fifth Federal Re-
serve District to question pro-
pounded by the Wall Street Journal
regarding the outlook for the year.
Below are some of the expressions
from bankers of the Fifth district:
John NJ. Miller. jr.. president OF
the First National Bank of Rich-
mond.. considers the outlook for
business bright hut advises caution
He saws:
elm my opinion, the outlook for
bus "a, throughout the country Tor
the next six months is veW bright.
Conditions in the Fifth Federal Re-
serve District are very encouraging.
'tAs far as / can see money VIII
be in abundance during the next
six months, with rates around the
present figures. Installment selling
and the building boom, in my
opinion. have gone far enough and
are inviting disaster.
Morton NJ. Prentis. president or
tho Merchants National Bank OF
Baltimore, advises every effort be
mace to decrease production costs
and effect operation economies. He
says:
THE reports which reach US in
cline us to the opinion that pros
poets throughout the country gen
orally are for. good business. GER
tainly for the next six months.
This applies to the Fifth Federal
Reserve District SO far as we can
ascertain. with the exception of
few lines whose prospects while
not unfavorable are not as bright
at present as in most Industries.
w. H. Wood, president of the
American Trust Co.. of Charlotte.
n. c., in a comprehensive review
Of conditions in the Richmond re-
serve district. says:
Every factor in the business sit
uation today seems to justify US
i'm expecting a continuation Of the
splendid prosperity we have en-
toyed for the past year and a half.
at least for the first six months of
the new year, and 1t is a good
guess that we will even have great
he rpxAT
year than we have had during
1926"
Dollars and Sense. the official
publication of the Washington
Chapter of the American Institute
of Banking, has made. its initial
appearance for the year 1926.
As usual, this little magazine is
full of pithy matter of interest to
those connected with the banking
business.ee The leading article in
the Jandary issue lis an apprecia-
ton of the late Milton e. Ai.es,
with a short sketch Of the life Of
the late president of the Riggs Ma
tional Bank by William NJ. Rankin,
Jr.. which will be appreciated by
all members of the profession. espe-
cially those who were fortunate
enough to come into contact with
Mr.. Allies in their financial, work.
An article on the public speaking
class of the local A. 1. B. chapter
brings out the fact that the "out-
standing addresses so far have been
those on Whales and HYGIENE
by Mr.. Spaid. and John Riorddn's
poem, entitled The Bloody spar
row." John D. Leonard and
Fernand Petit also are mentioned
as stars of oratory.
According to the magazine, the
Washington Chapter of the A I.
II. has broken al records for mcm-
bership this year. and an especial
appeal is made to all member to
cooperate in making the chapter
meetings and the chapter work as
Interesting and instructive as pos
Hible.