Evening star., 1928-09-04
TRADE GAINS SEEN
IN COIN DEMANDS
Federal Reserve Banks Ask
for Early Supply of
New Money.

Demand for additional coinage to
meet the needs Of trade has come into
I the Treasury Department sooner than
/ usual this season. it was learned today,
/ The mints have been called upon by
. the Federal Reserve banks for the Fall
supply earlier than has been their GUS
4. tom in the past
This factor was interpreted in some
I quarters today as an unmiStakable evi-
/ Gencc of the pickup in activities
/ throughout the country Experts have
4 been predicting the Fall business would
come in substantial Volume. The de-
mand for coins at this time is believed
! TO be prompted not 50 much by the
usual Fall need of money 10 move the
/ great crops Of the country. as by an
increase in the retail trade Of the coun-
try.
Roberts Review.
/ Among the widely recognized au-
1 th0ritieS on business conditions who
feel confident about the coming sea-
son is George E. Roberts Of the Ma
t!onal City Bank Of New York, who
was formerly director Of the United
States mint
In his review OF economic conditions
issued monthly under the name of the
bank NIr. Roberts today said The
past Summer has given convincing evil
6ence Of business recovery and few per-
sons now have any doubts about buSl-
ness being good this Fail.
One industry after another has been
falling In line with the better trend,
he says. so that While some unsatlS-
factory spots can still be found general
business IS unQueStiOnably getting back
rapidly TO a normal footing. Again the
cOuuTy'S recuperaive powers have been
underestimate and revival has come
more swiftly and vigorously than even
the optimistic had anticipated Incl
dencaliy. another demonstration has
been furnished Of the fallacy that preSi-
dental years are necessarily bad years
for business"
one reason for the general feeling Of
confidence" Is given by Mr.. Roberts as
the harvesting Of exceptionally fine
crops"
The money and banking situation"
he says, has undergone little change
IN the last month, except that the Mid
summer season, when some relaxation
OF credit demands usually occurs. is now
past and the season OF creates annual
commercial demand is at hand" Mr..
Roberts defends the action of the Fed
eraI Reserve Board which had been
under IRE from some quarters, declaring
that the Reserve authorities. Of course.
nave been more interested in checking
the absorption Of credit at the Stock
Exchange than in forcing q liquidation
OF tie existing amount. and unquestion-
ably brokers loans would be much
higher today but for the firm Reserve
policy"
Exchange Activity Resumed.
Activity was resumed in trading on
the Washington Stock Exchange during
me Irst September session following
LABOR Gay week END, and the return to
tAe city OF some members who had been
absent from the city. There was some
nuctuatl0n in prices over a wide variety
OF sales utilities however, for the most
part holding firm 70 stronger.
The Security Finance Corporation Of
this city, Claude W. Owen, president.
has mailed checks to its stockholders
covering. the. regular semi-annual divi-
oenu on It's 3 per cent preferred stock
The company was organized about three
years ago for the purpose of financing
the installation Of permanent home i'm
proFements, such as heating plants.
plumbing equipment. roofing, and has
made substantial progress.
The F. II. Smith Co. has declared the
regular semi-annuaI dividend Of s3.75
q share on the 7i2 per cent cummuIa-
tive preferred stock and $3.50 a share
on It's 7 per cent preferred stock. Both
are payable September IS to stock
holders Of record on September 5.
Heard in Financial District.
F. j. McQuade. vice president Of the
Liberty National Bank and secretary Of
the District Bankers Association. has
returned from vacation at West Har-
wich Mass
C. j. Goeckler. vice president Of the
District National Bank and secretary OF
the Washington Stock Exchange. has
returned from Margate City. n. j..
where. with his mother, he spent an
extended vacation.
John r Waller, president Of the IN
teTrational Bank. is expected to return
tomorrow from Milwaukee where he
has been on business for the bank
WinSl0w B Van Devanter. manager
here for the Guaranty Co. Of New York
and correspondent Of the GUARANTY
Trust Co. Of New York. is back fr0m
vacation IN Milwaukee, Wis, and
Canada.