Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-28
BUSINESS TRENDS
STILL UNCERTAIN
Washington Banker Visiting
India Other Timely
Financial Notes.
ny EDWARD c. STONE.

mess convalescence has been q bit dis
tIIrbed this week by the rumbling OF
renewed political rumpuses here ana
abroad. says the Business Week In It's
report covering the week enons
March %.
THE Threatened revival of farm re-
lief agitation by the Farm Boards anan-
donment of price pegging IS political
~ pessinistic but fundamentally Ia
vorsbIe for business readjustment Inc
row over the German-Austrlan ell
fort to translate French rhetoric IN
TO reality, however, exposes again tne
volcano Of political passion upon winch
European economic stability is pre-
cariously perched and clincheS the con-
viction that American business recovery
Ynust come from the cultivation OF our
own cabbage patch. Gov. Normans
visit here holds some hope OF 1nterna-
tional action on scale comprehensive
enough to overcome the credit Crisis
which uncontrolled price detiation mas
precipitated.
The index, down slightly to 81 per
cent Of normal for the week ended
March 81, shows no significant cnange
in the stagnant statistical picture. In
tine preceding week the index stood at
III A. while in the same week last year
the reading was 95.6 per cent: Hest
fancy in steel activity, renewed weak
ness in commodity prices and softness
in the still selective bond market 1ndl-
cate that confidence in continuous re-
coverv or initiative in the adventure
~ creating new wealth is still crippled
by the paralyzing pressure Of the de-
fation complex which has prolonged
the depression, Business Week con-
cludeS.
Real Improvement in Sight.
McNeeTs Financial Service says:
''There are signs Of real improve
nnent in the basic conditions Of business
Where real Improvement is shown Is IN
the increasing stability Of commodity
r1rices. in a speeding up of certain In
dIlstries, such as textiles, steel and
motors, and in an Improvement In the
building industry.
'FThe recent quick turn about in prices
Of hides shows how rapidly COM
modify situation may change once a
decline has run its course. There Is
innnrovernent. too. in the wool industry
The Improvement In residential build
ing, amounting to an increase OF AZ
Der cent in February, as compared with
january, is especially significant in that
IL IL the first monthly increase since
May, 1928, in this field of activity.
1.-The improvement in silver prices,
too, is highly important. We believe
these are but straws which show the
direction Of the business winds, and
which. as Spring advances, win be re-
fiected in q turnabout in the price
trend of many commodities and grad
ual broadening of business activity.
This is the basis necessary for broad
ening and improving stock market"
Francis Savage Visits India.
In his trip around the world, Francis
haVaiF TNraN4naT1f
has reached Delhi, India. The OK
banker writes that he IS greatly I'M
pressed with the new Capitol buildings
in Delhi. He has had the pleasure
Of meeting Gandhi personally, ana
liked him very much Mr.. Savage be-
heves that many Of his ideas viii
eventually prove Of far-reaching benefit
70 India, and that the Indians VIII
gradually obtain greater self-expreS-
sion. The country Is not excessively
taxed, Mr.. Savage says, adding that
the salt tax is but 2 cents per capita.
The former washington banker, ac-
eompanied by his wife, stopped on in
Egypt on their way to India. While IN
Cairo they had pleasant visit with
Minister and Mrs Jardihe. 1t viii be
several months longer before Mr.. Saw
age returns to Washington.
Halsey. Stuart e. CO. win start a new
series Of radio talks on April / which
will relate to business, financial and IN
dustrial conditions. David Lawrence be-
ing the first speaker Another speaker
viii be Rome C. Stephenson, president
Of the American Bankers Association.
Beginning next Tuesday Eliot H.
Thomson win deliver a series Of lectures
on Banking to students Of Eastern
High School. The class TO which he
VIII talk Is IN charge of Miss Margaret
b. Hardy, who manages the school
bank, whose personnel is composed OF
students.
Watson Death Shocks District.
The financial district was greatly
shocked today over the announcement
OF the sudden death OF George o.
Watson president of the Liberty Ma
tional Bank and of the Washington
stock Exchange. IN his passing, finan-
cial washington suffers a tremendous
loss. Few bankers have been such
fayorites or enjoyed such a host OF
loyal friends.
His wide acquaintance reached far
beyond the National Capital. He had
known personally every president the
American Bankers Association has had
for many years and served on several
Of the associations most important
committees. He was particularly fond
Of Rome G. Stephenson, present head Of
NAkE ElHCiAIdn Dd1AArtc &AcrllAAbAOAAs AAAA
only last Friday and Saturday was the
weekend guest in Philadelphia Of Harry
J. HaSs, who will be president OF the
association next year.
Mr.. watson was planning 10 attend
the coming meeting Of the executive
council Of the American Bankers Asso.
citation to be held in Augusta, Ca, al
q member Of the Committee on Public
information He was always interested
IA the District Bankers Association anc
IN his younger days was one Of tht
most active members. He was serving
his second year as head of the loca
stock exchange, having held a seat fol
years and being one Of the leading
traders. He handled the accounts o.
people Of unusual wealth and his finan'
cial advice was always in demand.
He was a director in many organiza'
tons, treasurer of the Congressional
Country Club. Republican in politics
and Methodist In church Affiliations
HIS work in the Liberty Loan drive
brought him special prominence at thu
time Of the Weird War.
The Washington Stock Exchange adj
3ourned today out Of respect TO hi
memory and a special committee vii
attend the funeral.
Financial District Comment.
Henry N. Browner was installed as
director Of the Terminal Refrigeratinl
81 Warehousing Corporation at the reg
ular monthly meeting Of its board, mex
yesterday. Clarence II. Norment is CHAIR
man Of the board and Wrisley Brow
Is president of the corporation.
AS indicated IN yesterdays Star, tota
deposits in Washington banks o.
March rs, the date Of the last call. vii
undoubtedly smash eli previous records
The complete figures for every bank Il
the city. prepared by Audley A. p. SAY
age, auditor OF the National Savings
Trust Co, win be published shortly