Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-05

". r Dononoe' WHilam n aarIleE
Maurice Otterback, William N. Payne
jr. George r. Repetti. John NJ. Riordar
and william H. Yost.
The annual financial statemen:
showed the association in excellent con-
dition. The company has assets of ST.
363,912.61. compared with $1,091 ,515.22
in the previous year. In 1880 the asso-
citation had outstanding loans on real
estate amounting to $1,000, 400, COM
pared with $1,070,300 in 1929.
The treasurer reported cash on hand
amounting to S43,271.8 against $9,6l5
q year ago. The company has q sur
plus Of $4,000 compared with $22,310
Q year ago. It was the forty-second
annual report, the association having
been organized in 1889.
Gas Production Increased.
An increase of 2l.8 per cent in the
production of gas for the District in
January was reported today by Frank
A. Woodhead, operating vice president
of the Washington Gas Light Co. AS
compared to January of last year, the
increase in cubic feet measured 1884,
454000. Actual figures for January,
1890. and January, 1881, were 640,-
SOL 900 and 780,055,000 respectively.
Production of gas for the past four
December showing % per cent gain
over the corresponding month of 1929.
In December 733, 900 cubic feet of
gas was consumed, as compared to
SEQ $50 900 in the same month OF 1929.
The maximum daily send-out for jan
uary this year was 27800.000 cubic
feet, as eontrasted with 24,S41 900 cubic
feet last year. The minimum daily
send-out was 81 557 900 cubic feet. Mr..
aA4rf6Y,fal Of the in
crease to hOuse-heating and gas appA-
ance sales.
The coming of natural gas will enable
the gas company to increase its capac-
ity more readily on demand, Mr.. Wood
head said The process OF enriching
manufactured gas in the past by crude
oil required not only more time. but
added facilities.
Steady Recovery Forecast.
George e. Roberts, economist of the
National City Bank and also one of the
vice presidents, told about 20 Washing-
ton hnanciers at the Raequet Club last
nignt that st.ady reco9ery from the de-
preston &c assured. but 1t VII be fairly
slow. Tie economist vent back into
the history OF panios, reviewed the con-
ditions which brought them about, and
said that they could not be avoided.
Mfr. Roberts also devoted considerable
time to a discussion Of gold and its
bearing on the whole economic struc-
ture, stating that the last heavy ship
merts of gold to the United States came
fast, too fast, so fast that they upset
credit conditions here more than in the
countries which made the shipments.
He also talked freely on the labor stu
alton.
A general discussion followed Mr.
Roberts remarks. DR.. H. O. Moulton
Of the Bookings Institute, took issue
with him on the statement that the
business recovery will be fairly slow.
Mr.. Moulton thinks it will be more
prompt.
Mr.. Roberts was the honor guest of
John r. and Austin c. Waller of the
International Bank.
Banking Held Sound to Core.
After all, American banking is sound
at the core and is today upon much
stronger, more liquid and effcient foot
ing than at the height of prosperity,
says Trust Companies Magazine. The
thousand or more banking suspensions
Of 1880, and those which preceded, have
pretty well weeded out speculative and
incompetent management, and the
process may have some time to run.
But the banking situation cannot be
regarded as at all bad when the 100
largest banks and trust companies OF
the country, during a year of most Sc
we're business depression and decline in
values, can report increase OF 10000, 900
in combined surplus and undivided
profits, notwithstanding charge-offS for
bad or questionable accounts and crea-
ton of added reserves for contingencies.
It is equally noteworthy that during the
past year these 100 leading banks and
trust companies, representing more than
one-tnird Of the total banking resources
Of the Nation, reveal a gain Of $780,
100000 in deposits.
Cleaned in Financial District
The last annual report shows that
the Perpetual Building Association has
resOurces of S2A 600 900. On the dat
of the last examination by the United
States Treasury, January 20, the asso-
citation mad cash on hand amounting to
Sl.930,666 %, and loans amounting 70
$22, 800 600. The bankers. VINO visited
the cff1ces late vest rday, were given
very high praise today for the manner
in which they called attention of de-
positors to the soundness Of this So
year-old institution.
j. Frank White cashier Of the Ma
tional Bank Of Washington, is recover
ing steadily from an accident in which
he dislocated or fractured his shoulder
He expects to return TO the bank In q
comparatively short time.
Ron1s c. Stephenson. president Of the
American Bank RS Association, and
Zen A'ey. president Of the American
Inf ,itu Of Banking. are To attend tl1t
ernva' b~n1uet ~ Washington Chap
]. A. B., ct the villa. on February &c
Cha rrnf'l J. p bats reports tha'
p-acticHll all arrangements are noT
ccmp.et"o.
More than so students have registered
in the new course in r al estate which
the local institute chapter is TO conduct
during the second semester now getting
under way.
McCrory Stores Corporation reports
an increase of ~ per cent in January
sales In comparison with the same
month last year.
TOday's Trading on Exchange.
Trading was quite active on The
Washington Stock Exchange today
The first bond sale was in Washington
Railway g. Electric preferred at 87k
Anacossia a. Potomac railroad guaran'
| teed SIS came out at IS. Capital Trac'
ton again closed at 40 cents on ligh
turnover.
Railway IL Electric preferred sold a
96H. Merchants Transfer g. Stors q
common at 100, Mergenthaler at S9
Barber g. Ross at IL x, Sand & Grave
preferred at So, and washington Loar
e. Trust Co. at 440.
- SILVER QUOTATIONS.