The Washington times., 1927-03-19
BUSINESS GOOD
IN CAPITAL
By RICHARD HATTON

General fihancial interest IN the
past few days has been conferred in
the Treasury Department where the
reports On income tax settlements
and refunding indicate the excep.
tional strength Of the financial de.
partment Of government.
At the same time there has bean
going on recently some large financ-
Ing Of private interests which have
commanded attention, notably the
contamination Of Consolidated Gas
financing and the Standard Oil re-.
funding operations.
Az seen from check payments, the
dollar volume of trade during the
second week of March, although
smaller than in the previous week,
was greater than q year earlier. &C.
cording to the weekly statement OF
the Department OF Commerce.
Wholesale prices again declined
from the preceding week, the gen.
eral average Tor the second week In
March being 3 per cent lower than
IN the corresponding week OF 1926.
Loans and discounts by the Federal
reserve member banks declined from
the preceding week, but were well
above q year ago,
The Federal reserve ratio aver
aged higher, both as compared with
the preceding week and the CORE.
spending week Of 1926.
In Washington, according to the
best-informed opinion general busi-
ness has been as good as could be
J expected ct this season and there
u no evidence locally that the gen.
orally active condition registered in
other sections Of the country does
not obtain here.
It i admitted that there is a sea.
sonal dullness in some lines, but
observers see nothing to indicate q
poor business season. In fact, IL Is
pointed out. the outlook, IL viewed
from the standpoint Of recent Treas.
ury announcements, cannot be any
thing but bright.
The trend of security prices seems
to be upward. according to com.
petent authority and there are many
who foresee a stronger general
market in the near future. The
weekly statement OF the Depart.
ment Of Commerce released for
publication today states that:
Prices OF stocks on, the New York
Stock Exchange showed no ma.
terial change from the previous
week but were well above q year
ago. Bond prices continued to
average higher, both as compared
with the previous week and the
same week Of 1925.
Interest rates on call loans
averaged lower than in either the
previous week or the same week q
year ago, while rates on time
money. although lower than last
year, averaged higher than in the
previous week. Business failures
were less numerous than in either
the preceding week or the CORE
spending week year ago.
The regional conference Of say
ings bank executives Of eleven
Western States has been In session
for the past two days at Oakland,
Calf. This Il similar to the con-
ference which viii convene in Wash.
ington' on April z for q two-day
session which viii comprise the
eastern regional savings executives.
Both conferences are part of the
program Of the American Bankers
Association.
There IL some interest manifest
In this city as to what action, II
any, the coming regional confer
ence here win take regarding the
question Of installment buying
which was given the most serious
consideration by the western re.
gional conference. It Is generally
admitted that there IL q large prob.
lena Ia this element Of our economic
life which, sooner or later, must
be faced by bank executives.
At the regular meeting of the
board OF directors Of the Farmers
ana Mechanics National Bank the
regular quarterly dividend OF SD per
share was declared. The dividend il
payable April to stockholders of
record at the close Of business on
March %, 1927.
At recent meeting of the board Of
directors of the National CAPITAL
Mortgage Company the twelfth quar-.
terly dividend was declared. The
rate on the preferred was at per
cent per aflnum and on the common
it was IL per cent per annum. The
dividend is payable April /, 1897, to
stockholders of record March 81,
1927.
A 315 per cent money market In
the late spring and summer is the
prediction Of Moody's Weekly Re
view Of Financial Conditions.
a