The Washington times., 1928-03-23
PRES|DEN TIA |
BUGABOO IS
LAID
b RICHARD HATToN

1nE IlrSG quarter OF 100 dp'
proaches its end with general
industrial and business condi.
lions failing to support OF
Justify the presidential year
bugaboo which is threatening
this year again to be q deter
rent to normal business opera
tions, Robert M. Davis, stats
fical editor Of the McGraw-
Hill industrial and engineering
publications, said yesterday. !
Summing up general business con
Iitione throughout the United States.
he atressea the current high average
rate Of Industrial production, con-
kinued sufficiency Of financial re-
sources and definite gains in con-
ktruction contract volume az three
factors which make pessimisn1 az g
1928 Nrwarratlted.
The end OF the first quarter
Df 1923 approaches, Mr.. Davis
eaid, with favorable economic rae
tors IN evidence. Iron and steel
Industrial operations Tor the first
three months Of this year are
almost certain to exceed those 81
the same period in 1927, although
ne. hfrh neak OF monthly produce
ton recorded In March Of last
year WIN probably not be eqlailed
this tine
Machine Tool Industry
Machine tool industry operations
are Of high order, with those Of
The automobile centers reaching.
near record proportions. The cleo.
aricaI manufacturing plants, which
sfefIect To = large extent the general
Industrial progress OF the nation. re-
port February productive operations
Approximately per cent over those
81 February. 1927.
h chenfcal manufacturing or
rrOcee1 Industries on the whole are
operating around per cent under
LIST year. but Il must be borne IN
mind that 1927 was 4 record year Tor
the chemical industry and that 3.
per cent drop - not to be regarded
serious. In fact. leaders IN the ins
aaastry feel that with u drop Of only 3
per cent they viii have an unusually
GOOD year. the best they ever had,
with the exception Of 1927.
ssC6listfuetiOn contracts In sfne
United States. Mr.. Davis reports.
sshava been of record proportions
ehie year General heavy cOnstruc
ton contfaefS indicate an increase
Sc public works contracts cf 4 per
rent Tor he first quarter and I'M
brivate p0r 0f 20 Der cent.
THE WaIIiA 0f contracts Tor general
construction In the first quarter Of
1928 probably win exceed that Of the
first three months In 1927 by $lOOs-
900 900. Today. Ne are spending IN
this country i've times more per an
mum for new construction than we
did IS years aap.
Electrical Consumption
..Data on electrical energy con.
sumption by 1000 manufacturing
plants throughout the nation lndl-
kafe that the February rate OF op-
STATIONS was is per cent over De
eember. slightly under the ancrease
hoted In the first two months o.
1927 but considerably over the rate
sc increase reported Tor the same
berlod iii 1924 and 1925.
qvhiI8s March operations were prob
aloIv not quite up to the record OF
March, 1927, the volume of produc-
lion in the first quarter. of 1928
nevertheless undoubtedly win show
gain over the same period last
''The Patsey"
..The Patsey." q delightful CON-
edv IN three acts. was presented at
Wardrnan Park Theater last night
by the Security Club. composed OF
employees of the American Security
and Trust Company. Those In the
east were: Clara II. Gain0r, Alfred
w. Sherman, Ruth III. Gochenor,
Margaret 81. Buckley. Willard III.
Higbie, Denis e. Connell, Eva M.
johnson. Raymond D. Lewis and
William a. Cady. The production
was under the direction of Denis r.
Council. The ushers, under the
direction Of Kenneth J. Winfield,
were Charles d. Carroll, Frank B.
rsernol. Paul J. Seller and William
n. simmons. Officers Of the Secur-
ffxp Club are: President Frank M.
Perley; first vice president, Ray
1nOnd ID. Lewis; second vice presi.
dent. Henry r. Kimball; secretary,
isabel A. Booth, and treasurer,
Lucille n. Forbes.
The play, which was written by
Rarry Corners, will be repeated
his evening at the mid-year open
resting OF the Washington, Chap
f2r, American Institute Of Banking.
Dividend Declared
At 4 meeting of the board Of
directors Of the Security Savings
aud Commercial Bank the regular
quarterly dividend. No. So, of A per
cent. was declared, payable March
Al 1928, TO stockholders Of record
March %. 1928.
The regular dinner of the Wash.
4nrton Bank Wonaens Club will be
reld on March rs. ct the Y. w.
A.. at $40. This is, also, the
annual meeting for the election of
afficers and other business Of the
erranizatiun. President Lois A.
white win preside, and a history
- the club, which was organized a
s,sar ago. will be read by Miss
Mabel v. Royce, historian.