Evening star., 1932-02-11
Better Tone in Industry.

Since the first Of the year a moderate
quickening Of activity is noted in the
sensitive weekly indexes of industrial
production, says the American Bankers
Association Journal in its monthly dis
cussion of business.
although the improvement is not
impressive in size, there is reason for
confidence in the fact that the busi-
ness world is now taking a clearer and
more realistic view of its problems than
for years back" the Journal says today.
Clearing away the debris of the year
1881, in the form of operating losses,
inventory losses, commercial failures,
bank closings, bond and stock deprecia-
ton, unemployment, etc. has brought
business face to face with actual con-
ditions.
Numerous steps to remedy the trou-
bic and to restore an equilibrium on the
lower level of prices now prevailing
include, first, the efforts of the Govern
ment to free frozen credits and to care
for the maturing obligations of the
railroads. also to economize in eXpendi-
lures and to balance budgets; secondly,
the recognition on the part of manu-
facturerS and merchants that produc-
ton must be balanced with current de-
mand that operating costs must be
cut and purchasers must be attracted
by the appeal of exceptional values :;
and thirdly, the cooperative attitude OF
labor as expressed in its willingness to
accept reductions in wage scales IN
the interest of wider and more steady
employment.
Declining prices have been an in
fluence retarding the making of con-
tracts in commodities for more than
o1r-cj Af t1n
movement by individual items will show
that the decline in raw materials has
practically ceased"
Today's d. c. Exchange Trading.
Potomac Electric Power 5l2 per cent
preferred opened trading on the Wash
ington Stock Exchange today. The
days transactions totaled about 90
shares, all sales being MADE at 102. Po-
tomac Electric Power per cent pre-
ferred registered at l09. Both these
stocks are now quoted ex dividend.
There was sale Of $4,000 Potomac
Electric Power 6s at 103A, and four
81 900 sales in Washington Gas Light
6s, series A, were recorded at par
Washington Railway g. Electric COM
mon and preferred have been added to
the stocks now quoted ex dividend.
closed tomorrow, the washington Stock
Exchange will also observe Lncoln's
birthday anniversary with a business
holiday.
The sudden activity on the New York
Exchange today was the cause of much
comment among local brokers and in
Vestment dealers today.
Heard in Financial District.
The Washington banks will be open
as usual tomorrow, Lincoln's birthday
anniversary, as it is not a bank holi-
day in this city.
The New York Stock Exchange will
be closed tomorrow, giving the brokers
in this city day off. The governors
refused to close the New York Ex-
change on Saturday, however.
1t was announced today that four
national officers are planning to attend
the annual banquet of Washington
Chapter. American Institute of Bank
ing, Saturday evening. This will be
the largest official representation at
one OF its dinners here.
w. w. Spaid of w. B. Hibbs & Co.
has returned from two weeks vacation
of those expensive Winter tans that
are the envy of SO many people. Earl
w. Corby, another member Of the flrm,
has started on a months cruise to the
Mediterranean.
Sales of American Stores In January
totaled $10,120540. against $12,497,110
: p year ago, decrease Of $2,376,570, or
IS per cent.