The Washington times., 1927-05-31
VARYING VIEWS
ON BUSINESS
By RICHARD HATToN


The last day Of May finds decid-
edly contrasting views as to bust
ness conditions for the month. In
general, however, there seems to
have been no slump and the out
look remains encouraging.
Considering the impediments
that have prevailed during the
month now ending" says Dun's
Review, "the situation has displayed
impressive underlying strength,
with commodity prices firmer.'
Business activity has followed a
fairly even course during the last
few weeks, states the current issue
of the Guaranty Survey" pub
lished today by the Guaranty Trust
Company of New York
Wholesale Trade Declines
Moderate curtailnent. strictly
in line with the seasonal tendencies
that have largely, dominated bust.
ness movements In recent years.
has appeared in basic industrial
operations" the Survey" con-
tinues. wholesale trade has like
wise declined, while retail business,
which was only moderately active
in March by reason Of the unusual.
ly late Easter season. has come into
its own in recent weeks"
THE general business situation
in May has continued encouraging,
states the National City Bank, Of
New York. in it's review of eco
nonic conditions, and it continues:
Manufacturing Is going on in
large volume, distribution is appar-
emily keeping pace, employment
conditions are good, and money is
abundant for business purposes.
These are fair weather signs, and
until something occurs to alter
them there seems no reason to ex-
pect other than good returns from
the months Immediately ahead.
Unsatisfactory Elements
There are, of course, some i'm.
satisfactory elements in the present
situation. The coal strike is now
going into the third month without
any prospect of settlement and al
though there is no immediate dan.
ger of coal shortage owing to record
stocks and heavy non-union pro-
duction, it is none the less a dis.
turbing factor in the background.
1T he mounting destruction
wrought by the Mississippi floods,
the poor crop weather in the West,
the general downward tendency in
prices Of non-agricultural commodi-
ties the serious overproduction in
oil, and evident over-capacity in
numerous other lines, are among
other factors against which bust.
ness has had to contend"
Employment Is General
The Business Bulletin Of the
Cleveland Trust Company declares"
There is no doubt that the coun.
try as whole is enjoying an era
of exceptional prosperity which has
lasted with only brief interruptions
since the latter part of 1922. Our
national income 10 nearly three
times as great as it was Just before
the war. Employment is general
and the purchasing power of the in
dustrial workers wages is greater
than it has even been before either
In this country or in any other. The
volumes Of industrial profits are
greater than at any previous time"
The thirty.fourth annual conven-
ton of the New York State Bankers
Association will meet at the May
flower Hotel on June 6, z and s.
Matters to come before the sessions
are more or less problems and con,
ditions faced by financial institu-
tons In the State of New York.
stockholders Of the Pennsylvania
railroad, located in nearly every
quarter Of the globe, will TODAY re-
ceive checks for the second quar-
terly dividend, at the rate Of tx
per cent, paid by the company this
year.
With this disbursement, the total
cash dividends paid since the com.
pany's organization, 81 years ago,
aggregate 1891 ,S33, 1852.