Evening star., 1932-09-17
Seasonal Trade Pickup Indicated.

Bank clearings as reported to Brad
streets Weekly for the week ended Sep
tember IA amounted to S4,595, ,419, 900
at the Al leading cities of the United
States, compared with s4,102, 100000
for the preceding week, gain of II
per cent, but was 500 per cent less than
q year ago.
Pepco Orders Power Unit.
Stone g. Webster Engineering Cor
poration has been authorized by the
Potomac Electric Power Co. to place
contract with the General Electric Co.
for 5,000-kilowatt turbine generator
unit, to be installed in the $5,000.0 900
power station to be constructed at Buzz
zard Point, in Washington The tur-
bine equipment will operate at $50
grees Fahrenheit. Delivery is scheduled
for June /, 1888 The station designs
permit the installation of additional
units when required by the increase in
electric load.
City Plans $685. 900 Bond issue.
Bids will be received September 20 on
$3.50 900 City of Baltimore per cent
bonds.
Long-term Baltimore As now are SELL
ing to yield about $50 per cent. Early
this year Bankers Trust Co., National
City Co., Chase -Harris-Forbes Corpora
tion and associates marketed an issue
of $4,200,000 Baltimore As at prices to
yield Ats per cent. The city has bor-
rowed in recent months around $10,-
100000 in anticipation of tax collec-
tions, the most recent loan of 81 10000
being obtained at per cent.
The city is considering voting on
$22 000 900 bonds in November. At
present Baltimore is $14000000 within
its debt-incurring margin.
Earnings Prospects Better.
The sharp squirt in certain industries
manufacturing consumers goods, COM
bined with the rise in commodity prices
has improved considerably the earnings
prospects for companies in those
branches over the balance of this year,
Moody's Investors Service states today
in its monthly Positions of Industries"
Due to the improvement shown in cot
ton and cotton mills, rayon, silk. wool
and tires, these industries have been
advanced temporarily from the poor
to fair" to the fair" position in in
dustrial classification.
However, these industries are not
immune to over-production and price
cutting and real improvement in their
investment status will require very
prolonged recovery, Moody's comments.
Credit Expansion Good Sign.
The important measures of business
activity show further slow but steady
expansion, says the Business Week, in
spite of the unsettlement in speculative
security and commodity markets pre-
cipitated by disturbances of the political
atmosphere from Maine to Oregon.
Improvement in the business indicators
is mainly by way of better showing in
comparison with year ago, when the
trend was downward, but in some cases
increases in activity exceed seasonal
expectations.
In August for the first time for II
months, or since March, 1881, the
American Institute of Finance index
of business activity turned upward. The
institute index now stands at rs, up
two points from where it stood at the
end of July improvement has been
entirely in trade activities.
Partisans are prone to exaggerate
the importance of the political outcome
in its effect on business, states the
United Business Service. Whichever
party wins in November will be equally
interested in promoting prosperity,
both for political reasons and for the
good of the country.