Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-08-30
Washington Business Circles
Reflect More Hopeful Out
look for This Fall.
CAPITAL STANDS FIRST
IN RETAIL STORE SALES
Federal Reserve Figures Show City
Leads Fifth District-Build-
ing Increases Here.

Although Labor day Is still more than
week in the future, financial and
business leaders here already see signs
Of improvement in Washington, with
prospects of a still more definite up
turn later in the Fall
While some were inclined to be more
or less conservative in predicting anv
early pickup. there were others. of
equally long experience and high stand
ing in financial ciIcles. who were out
spoken in predicting that decidedly bet
ter times are ahead for Washington in
the not far distant future
Not only are the optimists extremely
hopeful about Washington, but they
have what appears to be new conf
dence In the world situation, based on
events Of the past 10 days.
II no unexpected or untoward event
OF international Ill effect takes place
within the next few weeks, 1t is de-
voutly hoped by many. not only In
washington. but in other national cap
1tals, that the whole world may find
its economic feet resting on moe solid
ground than it has for many a day.
FAN Prospect.
With this renewed confidence gaining
ground, there should be an increase In
tne favorable psychological attitude Of
the consuming public, it was said. Fail
Il just around the corner. even If
Labor day is still a week ahead-about
as late in September as II ever falls on
the calendar Winter clothing is to be
purchased. along with coal. oil. gas or
whatever heating will be employed for
Winter fuel, and those who have sue
eeeded in keeping their incomes will
begin 70 throw some funds into the re-
F4aN ar ia rrfnn ID VIy{gf ~
volume that will count.
Here in Washington business and
financial leaders point for one thing to
the pickup in building operations
which yesterday were reported IN Au-
gust to be far in advance Of August last
year. With the fun months tabuiation
SIN incomplete. the month so far Is
still s3.132,9I5 ahead Of August last
year in the value of permits approved by
the District building inspector.
Retail trade In Washington is far
better than in any other city in this
Federal Reserve district and ahead Of
most cities throughout the country. ac-
cording to statistics from the Federal
Reserve Bank headquarters for this area
at Richmond. Va.
The arrival Of cooler weather this
year earlier than usual has resulted in
the closing Of some Summer resorts and
Deem
and several Washington bankers and
business men are reported to be return
ing to the city to take up Fall business
earlier than they had at first intended
AS q matter OF fact. according to one
financial leader. this unseasonabIe cool
weather and return Of some people al
ready has had a stimulating effect In
the financial district
Not to be too optimistic. however It
was recalled by several that conditions
throughout the country are still in bad
shape. particularly as regards unem-
ployment and prospects Of much relief
being needed for the Winter. This city
is much more fortunate than the rest of
the country In many respects. being bull
warked by the twice-monthly pay roll
Of the Federal Government.
One bank president said he expected
this Fall here to be definitely better
than this Summer. hut II you expect
Il TO be better than the abnormal year
Of 1929" he added, you will be dis
appointed" He already saw signs Of
improvement.
Favorable Factors.
Among the favorable factors pointed
to here as affecting world conditions
and. Of course, indirectly, this city, were
the new coalition government In Great
Britain and the economies already
started in that great empire since re-
setving the SAGE 600, 600 loan from the
United States and France. The in
tegrtty of British credit behind such q
loan was pointed to here as added
strength In the situation Steel has
risen si4oe I| b 84ss - ssl91aEa
action has s4Ntaken in Texas and
Oklahoma for oil restriction. and sales
stability is said to be prevalent along
the Atlantic sesboard. Among the un-
favorable factors were seen unenp.oy-
ment, q lack Of building pickup
throughout the country, contrary "a
trends here IN Washington and lower
prices paid to farmers. which redSNAs
the purchasing power OF the great agri-
cultural regions.
Offices Consolidated.
q. Mp. Murphy g. Co. have con-
solidated their two of1ces here in Wash.
ington, moving the one formerly located
at 1000 Connecticut avenue at the
corner Of X street TO their other down.
town location. lSl0-15oS II street.
These latter ofices have been ex-
tensively rearranged and additional
space has been taken on the third floor
The board room has been considerably
enlarged, chalk curb board added. which
carries all Of the active curb stocks ano
Eile iEDEEb NEW 1Ofh NANg DG&tA PUN
quotations. Every stock now listed or
the New York Stock Exchange win b.
carried. a total Of about 1900 in all
en- the bond board over 600 New YORK
stock Exchange bonds viii be boarded
Alfred Chester Father and Charles
Carroll Morgan, co-naanagers, have as
ISOLATED with them In the brokerage
department John T. Parker. z. r
Finkenstaedt. Joseph F. Dowdall. Ben
ia.nin w. Thoron. q. Tinsley Garnett
Warwick z. Montgomery and Edgar p
RAes and in the investment department
william v. Freeman. Joseph II. Dockery
and Nelson II. Perrin
q. Mp Murphy 81 Co. have offices
m New York, Philadelphia. London
England Richmond, Baltimore and
Bostca. me latter two ofices have
been opened during the last IL months
American Security & Trust.
Final preparations are being made bS
the American Security g. Trust Co fol
moving into their new building. ada.
cent 70 their present home. While nj
exact date for the move has been an
nouneed. It Is expected TO be in tn
near future.
Heard In Financial District.
EE j. Stellwagen. president Of tn
Unitn Trust Co. returned yesterda,
1 frog his Summer vacation At Polans
Epnngs. Me.
Victor B. Deyber, president Of Tn
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