Evening star., 1931-12-27

United States. ...... -150 lilo
State figures:
Virginia :........ -l3.9 - 7.6
West Virginia ....... -226 -l34
The Carolinas.. s........ lit -127
With Washingtcn leading the fifth
reserve district in retail sales and the
fifth district in turn passing all other
parts of the United States local mcr-
chPntS Rave reason to hail 1881 as
good year and express keen sasfaction
over results.
The Washington Stock Exchange has
sailef along calmly during 1881. Busi-
ness has not been as rushing as the
members could have wished There
have been no new issues listed and no
new members added to the roster. both
facts being most unusual and unlikely
to be repeated in many years
Quotations on stocks and bonds have
held up we'll considering the amount
of security selling everywhere in the
past - months. The largest turn
over in the bond division was in Wash
ingto1 Railway & Electric a. Iol
lowed by Washington Gas Light 6s
Series A, and by Capital Traction
first SIS.
In the stock division the largest
turnover was in Capital Traction
Other particularly active issues include
Potomac Electric Power 5l2 per cent
preferred Washington Railway & Elec-
trio preferred, Lanston Monotype. Mer-
genthaler Linotype, and early in the
year Columbia Sand & Gravel prefer
red. Capital Traction ran into hard
shedding during the last half of the
year, when cut-rate taxicab fares cut
into the street car companys income
severely. Other issues also sold lower
during the 10 months
The most important action taken by
the exchange during the year was the
fixing Of minimum prices on all issues
on the board, a step taken by many
exchanges all over the country as a
temporary move to protect local in
veStments and investors.
At the annual meeting in November
Edward L. Hillyer was reelected presi-
dent: C. H. Gockeler. vice president;
Y. E. Booker. secretary, and James M.
Johnston. treasurer.
During the year three Washington
banks unexpectedly found themselves
without presidents. death having
was elected president OF the Washing
ten Loan & Trust Co.. succeeding the
late John B. Larner: Rolfe E. Boiling
was chosen head of the Liberty Ma
tiOnal to fill the vacancy caused by
the passing of Edward j. McOuade.
and Fran nix J. Kaufman, jr. was placed
at the helm of the International EX-
change Bank to follow in the footsteps
Of Joseph Schiavone, its founder and
president.
The District Bankers Association
has been functioning as usual during
1881, C. H. Pope, vice president of the
Munsey Trust Co., advancing to Mr..
McQuade's place as president. The
associations numerous standing COM
mittees are keeping a close watch on
business and banking trends and will
have important reports to present at
the next annual convention.
The Washington Bond Club, Law
renee NJ Proctor, president; Washing
ton Ticker Club headed by A. Chester
Flather; District Underwriters Asso-
citation, presided over by David S.
Bethune as we'll as the credit and
other semi-businesS organi22tio re-
port busy years work marked by
progress.
But it should not be inferred that
the National Capital has been a bed
of nothing but financial roses during
the year. Far from it. The number
of small vacant stores tell their own
jobs tell theirs, while the bankruptcy
court presents another unhappy pic
ture. Reduced incomes never add to
prosperity. Just summary of in
dividual financial trials would fill
volumes.
So 1881 passes What Of 1882?
Where there is gloom, will the sun
burst through and flood the business
skies with radiance?
Col Leonard P Ayres, noted econ
omist of Cleveland, Ohio, says 1882 is
''unpredictatx on account of the
countless nu-lber of involved domestic
and foreign factors, although he says
improvement has already started.
For this city, however, it is certain
that the huge constant Government:
pay roll, together with the immense
Government building program, will keep
trade at a satisfactory level and the
banks prosperous.
Just how far the tide will sweep up
the business and financial beaches Is
the vital question. "
Time alone will tell.