Evening star., 1932-08-01
BUSINESS OUTLOOK
Z. GRIPS ATTENTION
Local Financiers Weighing
I Factors Favorable to
Steady UpSWing.

Steady UpSWing.
i
il BY EDWARD C. STONE.
! Another strong opening of the Ney
York Stock Market today added to tn
moderate optimism now prevailing il
the local financial district. In banks
brokerage Offices and all other business
establishments the chief topic of con-
versation hinges about the vital ques.
tion as to whether general business
activity is about to take a definite
upturn. An analysis of the factors
bearing on the situation is of great
interest
Economic Situation Reviewed.
In its current report issued today, the
United Business Service of Boston
reviews the current economic situation
and reaches the following conclusions
! That business is now at an ap-
proximate minimum 2. That an irreg-
ular course is indicated over the near
term. g. That recovery from the de-
preston will be slow.
The service notes the following
favorable developments that have taken
place:
The reparations compromises at
Lausanne.
Upturns in hog, cattle and hide
prices.
The stronger bond market
Lack of radical legislation in last
Congress.
Emergency relief and construction
AT.
Creation of Federal Home Loan
inks.
, Improvement in petroleum industry
/ Steadiness in electric power indexes
Halt IN the gold outflow.
n Less security liquidation.
: st. Lawrence development treaty.
Increased activity in many small
: companies
Reduction of operating costs.
. The service points out the existence
of the following obstacles to recovery:
Continued boarding.
l Burdens of additional taxation.
Political unsettlement abroad.
Tariff barriers to international trade.
Disequilibrium in commodity prices.
Unstable world monetary situation.
Large stocks CT raw materials exist
ing.
COllIlllhAlS
Low level of purchasing power.
Lack of drastic economy in Govern
ment expenses.
Unsettled international debt question
Upturn in Sales Reported.
Nationwide sales conditions reveal
heartening turn-up in the August sur
vey of collection and sales conditions
compiled from los major markets OF
the country by the National Association
of Credit Men. This report received by
the Washington association emphasizes
further the press reports from various
sections of the country which find neT
signs of life in many industries in vari-
Gus States.
Collections. which are necessarily
slower in rejecting improvement since
fthe benefit of increased sales is passed
on to creditors after a period of about
a month, therefore show no betterment,
according to an analysis of the reports
submitted by the correspondents taking
part in this months survey.
Supplementary reports from CORE
EpondentS include many interesting and
optimistic observations. California re-
ports that collections and sales in the
Los Angeles sector are fair and that
'some Improvement is noted in oil,
which is the basic industry" Louisiana
finds collections and sales in New Or
leans also fair, but one section of the
State reports sales as being good Jack
son, Mich, states that there has been
a noticeable change from slow to fair
in collections, while sales have i'm
proved as we'll" ..
Duluth, MINI, emphasizes. the same
observations, and from st. Paul comes
word of excellent crop conditions.
Local Bonds Again Popular.
The popularity of bonds listed on the
Washington Stock Exchange was mani
Tested again today as business opened
for the week.
The first three sales were in $1,000
denominations of Washington Gas Light
6s series A, all of which changed hands
at par.
Potomac Electric Power IS, 1858, ap-
peared on the board, 1000 selling at
the strong price of 107l2. Washington
Railway & Electric IS figured in a
81 GOO sale at 81 and $500 transfer
at S1H
In the stock division two small sales
IN Potomac Electric Power 512 per cent
preferred moved at 1895 and another
of Washington Railway & Electric
Cl1dlI6CQ az 10 ~
Fifth District Building Permits.
Building permits issued in June in
81 leading cities of the Fifth Reserve
district numbered 2,504, compared with
325l permits issued in June, 1881, and
estimated valuation figures for last
month totaled only $685., ,821, a de-
crease of 49.4 per cent under valuation
of S6,535 ,567 in June, 1881. Only four
of the 81 reporting cities showed higher
valuation figures for June, 1882. Lynch
burg made the best record for the
month, not only reporting the largest
increase over June, 1881, figures, but
also reporting the highest total valua-
ton among the 81 cities except for
Baltimore and washington, which are,
Of course, much larger cities.
Contracts actually awarded In June
for construction work in the Fifth Re
serve district totaled only S7,784,987,
compared with S23, ,635, 1927 reported for
June, 1881, according to figures collect
ed by the F. w. Dodge Corporation.
OF the June, 1882, awards, S2.663, ,49I
represented residential types of con-
struction, compared with S6730,982 for
this class Of work in June last year.
Bank Officers on Vacations.
A good many bank officers are taking
their August vacations. c. H. Gockeler,
vice president of the District National
Bank and vice president OF the wash
, ington Stcck Exchange, has gone to
I Margate, N. J., for month. Charles E.
Howe, treasurer of the American Sc
curity & Trust Co., is visiting his old
home in MifintoWn. Pa. George o.
Vass, vice president and cashier of the
Riggs National Bank and first vice
president of the District Bankers AS
Sociation, is also amcng the bank
officials now taking a rest.
c. H. Pope. president of the District
Bankers Association, was back at MS
desk today after months vacation