Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-08-23
PRICES ARE F|RMER
!. ON D. c. EXCHANGE
EM II ID III I'M -
Bond Trading Shows I'M
proyement in Prices-Trac-
ton Stock Gains.


ties and considerable improvement was
shown in trading, especially in bonds
as well as a little stiffening in prices
all around.
Values for bonds stiffened, Gas SIS
selling at 100 and 10oi2, Railway As at
SO, Anacostia d Potomac IS at "a and
the 'unguaranteed SIS of the same cor
poration at 81 and 877s.
Capital Traction stock showed a
slight gain, selling at 93E and 93ta
Peoples Drug preferred was active but
easier, being off point from the open
ing at 1922. Fair number Of sales OF
bank stocks at ESQ for Commercial
National 22S for District National and
135 for Continental Trust.
Installment Buying.
With the national income approx
r, ely 100000 100000, the people of
~, United States spend about sac, ooo.-
100000 year in retail establishments
End out Of this approximately $4,000
100000 goes into installment buying.
according to Leslie c. HARRISON, presi-
dent of the Household Finance Corpora
ton.
'fTwo-thirds of ell dealer automobile
sales" he said, re made on credit,
one-third of all department store sales.
Yet ultimately almost all do pay. The
average loss of large group of houses
revealed that Losses were as follows:
Motor car sales. open account, 0.9
per cent; inEtallment payments, 0.4 per
cent; department stores, charge ac-
counts, o. per cent: installment sales,
IL per cent; grocery stores, 0.6 per
cent. Worklngmen are making loans
more and more to pay their trade bills.
but by doing so are maintaining their
credit standings. The American citizen,
generally, il proving himself honest"
Business has continued during the
late Summer at higher level than was
expected, and with the marked improve
n,ent in agricultural conditions, a>favor-
able period for trade is in prospect
during the remaining part of 1929. says
the Union Trust Co.. Cleveland.
THE improvement in agricultural
prices, particularly wheat, has been the
outstanding economic development in
the country during the last month"
says the bank, IN its magazine Trade
Winds. 1T Il estimated that the gen.
eral advance in grain prices from the
low point IN May, has added more than
$1,000,000,000 to the wealth Of the
country.
1.-THE assurance of good purchasing
power on the part of the farmers is
powerful factor in the direction of good
business. AS farmers continue to use
more and more of the products of our
factories, farm returns may be expected
to be more directly reflected in produce
ton schedules of industry. In fact,
there are indications that farm pros
perity will provide impetus to the auto
mobile and other industries during the
closing months of 1929"
Farm Cash Receipts.
Farm cash receipts In the crop year
1oGo-1930 will aggregate nearly SILL
r O0o,000,0o0, a new record by small
margin. according to an estimate Just
made by the Brookmire Economic Serv-
ice, Inc. Higher prices will probably
prevail this season for grains, hay, hogs,
fruits and potatoes: lower prices for
cotton, cattle. vegetables and dairy
products says the service. "On the
whole agricultural conditions will be
sustaining influence on general bust
ness during the early Fall Reduced
crops, on the other hand, mean higher
cost of living, which Is equivalent to a
reduction in wages for city jewellers.
The smaller production also means re-
duced employment by the railroads, fac
tories and warehouses engaged in the
handling and processing of the prod
ucts.
1T Is important to eliminate doubtful
and very risky stocks from all invest
g email selection of outstanding COM
ranies where the industrial outlook, |
competitive posit1o4-, sponsorship and
other factors are decidedly favorable It |
Is quite clear that the stocks which |
have gone forward this year have been
q declced minority. and that the group |
which will make profits during the |
months to come will continue to be |
restricted list"
Thomoe Inn aId-op r,ap,oer bere of |
the H. L. Doherty 6, Co. branch, Is on |
vacation along Chesapeak Beach.
The regular meeting of the Washing |
ton Bank Women's Club will be held |
Monday as the dinner session at the |
Huguenot. The president, Miss Mary |
Jane Winfree, secretary of the Contin- |
entail Trust Co, will preside. !
Ernest e. Herrell president of the |
International Finance Corporation, is |
on short vacation at Virginia Beach.
The Riggs Bank Club will hold din |
ner dance tomorrow night ct Che5a-
reake Beach, leaving Chesapeake juno (
ton on the 3:25 train and taking along |
a special orchestra. George Dagenais. |
president of the club. Is chairman OF |
the committee in charge, which includes |
also Donald Mccormack, Harry Morris,
Miss Mildred Archer, John Keener, |
steven Ramsburgh and Miss Constance |
Fogle.
A. 1. B. Golf Results.
Patrick Cook of Riggs National Bank |
turned in low score in the first annual |
golf tournament of the Washington |
Chapter. A.. I. B., in yesterdays play at |
East Potomac Park. It was thought |
possible that the tournarient might be |
concluded today, but Il not. play will |
20 over into Monday. Cook finished |
the course in three strokes less than !
the low score on the pre- Vious day. The |
winning team will be picked out OF win |
ners in the local tournament to meet a |
team from the Baltimore Chapter. A. |
I. B.. probably in Baltimore, in Sep
TENDER.
Heard in Financial District.
: Wade H. Cooper. president of the |
Continental Trust Co.. left Today for a |
short vacation in Maine.
J. Thilman Hcndrick, special partner !
Of W. B. Hibbs g. Co. and chairman of
the board of the Lanston Monotype Co.,
has returned from three months trip
abroad He reports signs of economic !
recovery generally.
George L. Starkey. president of the
National Bank of Washington, and Mrs.
Starkey are planning motor trip to
New England early next month. They
plan to leave for Boston on September
5. the next day after the bank opens its
new branch in Southwest Washington,
located at 1121-1123 Water street, on
the 120th anniversary of the establish
naent of the parent institution.
Herbert w. Primm, assistant real es-
tate oficer of the Washington Loan 8,
trust Co, left today for vacation at
Atlantic City. planning to return after
Labor day.
Thomas P. Hickman, vice president
and cashier Of the Franklin National
Bank, is expected to return from his
vacation late today or tomorrow.