Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-22

some real activity before the bonus
money has been entirely distributed by
the veterans who have received, it,
lock for a good market running into
1882, when every effort will be made
by the dominant political party to aid
recovery Of business.
IF, however, the bonus money is
expended without effect on the security
situation, II some portion, and a fairly
good part Of it, is not diverted to the
security market, the outlook will not
in my opinion, be better than at
present"
This is the substance Of an inter-
view with local stock broker who has
followed the New York market for
many years, who admits that there are
always two sides to it but who refuses
Ito be interviewed" in so far as using
his name is concerned.
1t looks very much as If the security
market Is counting on the incurable
habit Of speculation to bring its share
OF emergency money, issued as a bonus
to veterans, to its aid. Perhaps some
of this cash has already made its ap-
pearance and has been responsible for
strength in the induStrials Of the last
few days.
1t is next door to q certainty that
the automobile trade has already been
greatly benefited by the bonus cash
distribution. Many merchants are
looking for their share-many are
gathering It in. Millions can not be
released without helping general busi-
ness. Some of it may pay on mort
cages but not very much.
Bankers' Luncheon Group.
Weekly meetings of the Bankers
Luncheon Group, held on Wednesdays,
are becoming more and more popular.
representatives of nearly all banks are
frequently present, while a large repre-
sentation Is always waiting the call to
order by the president of the local asso-
citation. About As minutes are devoted
to general discussion Of problems that
may arise, to questions that may de-
velop in the discussions and to an
exchange Of technical information Of
Importance.
Officers of the District Bankers As
ISOLATION are seated at the head table,
with an array of past presidents at the
opposite end. In the latter group the
bankers are generally long on expert
ence and are depended upon by the
officials to aid in the solution Of knotty
problems that may develop.
Many of the smaller banks always
send representatives to these weekly
meetings; indeed no bank can afford
to miss the valuable information there
disseminated.
At the last session Wednesday. NJ. d.
Rosenberg, president of the Bank of
Commerce and Savings, was present.
He has not taken a very active part in
the affairs Of the association for some
time. leaving association representation
to John M. Riordan, executive vice
president.
Mr.. Rosenberg was president at the
time Of the first annual convention of
the association, at Deer Park, and also
presided at the second gathering, on
the S. S. Midland, on the Potomac. His
associates welcomed him at the lunch
con and he has signified his intention
to be regular attendant.
As to Florida.
Yes, it was a cold. raw Winter In
Gus and unmerciful. Enough rain fell
to relieve the drought The sun was
busy shining every day, but behind
clouds and rain. Banks in the State
are collection agencies, that is, in the
smaller town; admitting that they have
no money to lend, that the depoSitor Of
today will withdraw his funds tenor
row. Hence, they all carry heavy cash
balances.
Most Of the banks have compromised
with the owners of frozen deposits and
can exist on charges for service which
they have installed against payment Of
their own checks and all collections.
In the towns the cash and carry mer-
chants are doing cash" or quit bust
ness, as only in this way can thsy keep
their prices within speaking distance
of the chain store figures.
Natives are generally "short." but
make no bones of it. finding some con-
ISOLATION in the feeling that this year
Florida is not an exception but that the
State is keeping step with the rest of
the world and taking cold comfort from
the fact
Hotels with few exceptions have suf-
fered, but most of them have stood up
to the rack and maintained their repu-
tation in the face of serious losses.
The fruit fly was the cause of gen.
eral clan up of orchards that needed
it ever so greatly.
The result was greater crop of fruit
this year than ever before.