Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-06
BANKERS APPOINT
HOTEL COMMITTEE
Additional Aids Named fol
Annual Convention of
D. C. Association.

Members of the Hotel Committee
have been appointed by Frederick P. H
Siddons, general chairman of the 1881
Convention Committee Of the District
of Columbia Bankers Association, il
was announced today.
In addition to Luther E. Schreiner
chairman, and j. 7. EXnicios, vice
chairman, previously announced, the
members Of the committee are as fol-
lows:
j. d. Howard, president, Seventh
Street Savings Bank; Louis G. Ecklof,
assistant cashier, National Metropolitan
Bank; H G. Meem, vice president,
washington Loan e. Trust Co.; F.
Cuniberti president, international Ex-
change Bank; w. r. Lewis, cashier,
Northeast Savings Bank; Thomas P.
Hickman, vice president. Franklin Ma
tional Bank: r. l.. Father, assistant
secretary, American Security & Trust
Co. and r. L. Schreiner, president,
Bank of Brightwood.
Perpetual Shows SoundnesS.
The end of the run on the Perpetual
Building Association was a major
topic of discussion in financial circles
today, Expressions of qualification at
the conclusion of the run were general.
Success of the institution in withstand
ing the two-day Withdrawals, backed up
by the support of Washington banks,
was said to have been substantial
factor in increasing public confidence.
This confidence, bankers admitted, had
been showing signs of nervousness
since the recent failure of big invest
ment house here, and the acid test
through which the old Perpetual passed
during the past two days was said to
have done more than anything else TO
restore confidence in the soundneSS OF
financial institutions of this city.
There were many expressions OF pro-
found regret that such a situation
should have developed, and that an in
stitution with 100 per cent reputation
should have been subjected to such an
experience. But now that 1t is over,
as one banker expressed it, speaking
generally for the good Of the whole
financial situation here in the city, 1T
couldn't have happened to a better
one
Baltz's Statement.
In a statement issued today, Edward
C. Baltz. secretary, said his institution
had returned to normal" He eX-
pressed appreciation for the co-opera-
ton offered. for the confidence of the
majority of the patrons. and explained
that it was not necessary for the Per-
petual to use the financial assistance
rendered by the Washington banks.
1--WE expect to participate" he said,
during the coming months in the grad
Ual revival of business prosperity in this
community, which we believe will soon
become an assured fact"
Capital Traction Income.
An increase in net income of the
Capital Traction Co. for December is
shown in the monthly report filed yes
terday with the Public Utilities Com
mission. December was the fifth month
Of operation under increased fare.
December net income was S67 SO,
which was an Increase of S411.69 over
the same month in 1929. For IL
months, however. net income was S439,-
339 70, which is a decrease OF $72, 634.70
under 1929.
Corporate stock and bond financing
In January totaled S629 800 600, against
Sal 100000 in December, S764,300, 600
in January, 1880, and S1,2l8,800,000 in
January. 1929, according to the Stand
ard Statistics Co. of New York. The
trend toward issuance of bonds instead
OF stocks is still pronounced. bonds
accounting for S545, 100 600 Of the $685.
10000 total last month.
During the last half of January the
slight Improvement evident in American
trade after the turn OF the year peJerea
out. according to Business Week. The
business index has been sagging for
three weeks, and as the month closed it
was slightly under the December low, at
1858 per cent of normal, by preliminary
figures, against 1877 in the previous
week and GAL per cent in the CORE
spending week last year.
Commodity Price Drop.
The January level averaged about the
same as November, but little above
December. January's upturn in pig iron
output-first since last April--nnay be
another sign that the low point was
passed in December. But the recent
sIackening of the rate of improvement
in steel, coal and power production,
building car loadings and check pay
ments suggests how irregular, feeble and
protracted recovery is likely TO be when
il is left merely to the invisible hand"
and like natural" forces within busl-
ness itself, without the support ana
stimulation Of external factors brought
to bear by intelligent, courageous ana
cooperative banking policies
Moreover, the steady downward DRIFT
Of commodity price levels. the widening
circle of debt regulations or moratoria,
the increasing political chaos and con-
fict precipitated by group resistance TO
dehation show that the mere postpone
rnent of recovery is not the worst danger
in the blind acceptance OF this process.
Sooner or later 1t must be checkeo py