The Washington times., 1930-12-31
REVIEW Of 1880
SHOWS D. c.
STABLE

Steadiness of Business Here
Shown by Manner in Which
Slump Has Been Met, Beaten
Washington, like other cities Of
the country, is engaged in taking
an inventory so that she may
deliver a final accounting of the
year 1890.
When the last figures are in
and duly arranged business men,
financiers and manufacturers who
have courageously remained on
the firing line throughout the year
will not be the only ones who will
study tie results seeking guidance
In the making Of plans for the
coming IL months.
Although it is quite certain that
the final figures will support the
claims that the Nations Capital
"has felt the depression less than
other cities the general slowing
down of the high-geared machinery
had some slight effect locally.
Retail Trade Steady
That business has not been at
q standstill here in the months
that have passed while 1880 was
making history is shown by the
fact that men in a position to
know claim that retail trade here
in the first 10 months of the year
fell only is per cent behind 1929
for the same period. When figures
for the final two months of the
year are available it is predicted
that this margin may be even
smaller.
A wave of thriftiness was born
out of the depression and the
banks have been steadily storing
savings away in their vaults or
letting it out at interest.
This condition brought with it
q changed problem for the bank
ers. There were fewer available
outlets for profitable loans. A
principal source for easy profits
was shut off due to the long
slump in Wall Street.
Savings Growth
Growth in savings has been re-
ported from 40 banks in Wash
ington. Bankers have been put
to the test to find profitable out
lets for this accumulation and
most Of them report a successful
year. Declaration of the usual
and in many instances, of extra
dividends, by boards of directors
substantiate these reports.
The 1880 decline in business
locally is reflected in the falling
off of checks passing through the
Washington Clearing House. An
other barometer of the Washing
ton situation which may be ;on-
suited is the record of the Wash
1ngton Stock Exchange, where
there has been a falling off in
number of transactions and in
the gradual but steady decline in
prices of stocks and bonds. Prices
OF securities listed on the local
exchange while off did not break
to any such degree as they did
in many other centers.
Trend Is Cited
The dominant trend and be-
haylor of stocks and securities
listed on the Washington Stock
Exchange in 1880 may be illustra-
ted by brief reference to the ex-
perlences Of some of the securities
which were among the most ac-
tive during the year.
Local bank stocks have held
strong, a number still being above
$400 share.
In the miscellaneous classifica-
t1on the Carpet Corporation stock
was one of the most active.
More than 5000 shares of no par
value were sold at prices ranging
from high 1854 to low 201a.
A New Quarters
The Washington Stock Ex-
change moved into new quarters
IN the Washington Building dur
ing the year. The new head
quarters has all the conveniences
Tor trading and compares very
favorably with exchanges in
other of the large cities. George
Q. Watson, president of the Lib
erty National Bank, was reelected
president at the annual meeting.
c. j. Gockeler, vice president Of
the District National Bank, was
reelected secretary and other off.
GERS called upon to serve another
year are Edward L. Hillyer, vice
president, and James M. John
Ston, treasurer.
Transfers of seats during the
year were: A. H. Reside to NJ.
F. WeStheimer: estate of Charles |
J. Bell to Charles E. Howe; |
Frank B. Pryor to John F.. Braw-
ner. and James M. Green to c. |
G. Parker.