The Washington times., 1928-09-10
TRADE OUTLOOK
IS CALLED
SANGU|IVE
81 RrcnARD HATTON


Confidence iii the business OutiooI
FOR the rest Of 1898 il expressed =.
me monthly review Of business L
the current issue 81 the American
Bankers Association Journal. which
says:
~ anyone still holds misgiving:
A. to the outcome Of American
business ii ire year 1928, an exam
ination 81 the principal elements
visible at this time should inspire
great deal 81 confidence.
Industrial production q wei
maintained, with automobile and
trucks making good record, steel
operations expanding a. firmer
prices. building construction I'd date
per cent ahead 81 last year,
metals aud machinery active and
the only seriously unfavorahle spots
being wooden ana cotton goods
Ratail trade Ii becoming more
active and merchants are reported
TO have thoroughly cleaned out hot.
weather goods and 10 be making
autumn and winter purchases with
conservative optimism. the Tree
placing Of forward orders being par.
ticuIarly noteworthy The elections
Year bOgie has 20 far had little
effect on trade.
Money Rates Firm
Money rates continue firm. but
the supply Of loanable funds Is
ample and statements az The report.
ing member banks show but minor
changes. with total loans and IN
vestments temporarily stabilized az
3 level only per cent above one
year aEn. Sentiment Il frequently
heard that present rates arr higher
than Justified and that Al evening
dawn "a correspond with inter-
national interest charges r g re-
expected
Profits FOR the half.year rf $40
large manufacturing and Mierchais.
disinR corporations aggregate
per cent better than last year, anti
the majority pf the group show
increases
Crop forecasts we're raised n
the August estimates - that thF
probable what and corn crops VII
not Sc less but more than last
ssear. while excellent fruit crops
are expected
Tone Of the stock market Is
stronger. Considering the brealtk
az this market today and the reia.
Tive 0uiofnees that has prevailed
since May, the recent bidding dp
Vi selected insuea is&m0t surprising.
Bond markets are Ftili atiieT
and new 1indertEritines the feWest
il years. but steady accumulation
Of new capital beginning to
bring about recovery II prices
and ii time win have the further
effects 0f reducing brokerage loans
lowering interest rates and inyit.
ing new offerings
Insurance Experiment
AN experiment III Life Insurance
circles has been put into success
full effect IN the Acacia Mutual
Life Association at It's new Euiid.
ing dedicated some months ago Al
First ST. and Indiana Ave. N. M,
rae experiment which Acacia off.
cials declare has worked out sssplen.
dfdly takes the form Of the
Acacia Club which II housed II
4 series at beautifully appointed
club rooms On the first floOr Of the
Acacia Building
Conceived by President William
Montgomery as part Of A~acia i
service program, the Acacia Clltt
already is shown 70 have proved
itself an even more potent factor
than first was anticipated.
Membership Limited
Actual club membership Is linn
tied ~ members 81 the Acacia MI
fuai Life Association, but facilis
ties and privileges or the club
have been extended to others II
especial cases, Although the CLUB
has been organized but q few
months more than 10000 OF Aca-
cia's 100000 members have awaited
! themselves Of the right to become
members nf the A acia Club. Since
the clubs doors were thrown open
few months ago more than
5000 persons have used the club.
The Acacia Club was visualized
By President Montgomery as the
headquarters Of every Acaciau Wis.
ting the National Capital, ana
thus FAR the vision OF the associa-
tton's executive has been fulfilled.
The club does more than extend
= cordial greeting. 1t plans sight.
seeing trips, takes care OF mai.
and performs virtually every ser.
vice provided BY well-appclnted
club.
Resting in Maine
Pre- dent william d. Hoover, OF
the rational Savings and Trust
Company il spending 9 vacation
in Maine.
President George u. Starkey. Of
the National Bank OF Washington.
ID on an extended motor trip
which viii take him as far north
as Belfast. Me.
" sIfyfnond q. Marx, auditor OF
the Riggs National Bank. il back
At his desk after q motor trip
!. through New England.
OIL STOCKS
IEMynisIled By w u. HIS n 90
Anglo a Tlerican Or NV ~ u
BoFne SGrEmser co .. 80.
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