Evening star., 1932-10-08
CLEAR|NGS REVEAL
D. c. TRADE GAINS
Business Has Expanded Since
Last Week-Other Areas
N Also Make Progress.
BY EDWARD c. STONE.

BY EDWARD C. STONE.
Expanding trade in Washington is
indicated by the latest weekly report
on checks passing through the Wash
ington Clearing House
Clearings for the week ended October
5 reached the sum OF $20,327.000, in
comparison with Sl4 975. 900 in the pre-
<ious week, although 90 per cent below
the total for the corresponding week a
year ago.
Volume of check transactions at At
leading cities of the United States dis
played much mere than usual seasonal
gain over the preceding week, states
Bradstreet'S Weekly This was mainly
due to the heavy month-end and quar-
terly payments due around this time
and also reflects some of the improve
ment witnessed in various lines of trade
and industry recently. This weeks
totals likewise make a more favorable
comparison with year ago than they
diG a week ago
The total ciearings at all cities for
this week aggregated S5,152 .632 900. a
gain of 25 per cent over last week. but
drop Of 4l.9 per cent from last year.
All sections of the country shared in
the improvement over last week, the
gains ranging from 6 per cent in the
mountain district to 63 per cent in the
New England section.
The first week in September saw
clearingS in Washington better than in
the last week III August The second
week clearingS exceeded the first week
and the third week was better than the
second The last week in September
did not keep up with the progress
shown in the other three. This weeks
report. however, shows the uptrend has
been resumed. Baltimore also reported
an excellent gain, while Richmond fig
ureS were practically as in the previous
week.
October Starts Out Well.
For the first time since 1928, saws
the Business Week, most of the business
indicators seem to have had the benefit
of full measure of the normal Fall
seasonal stimulus, although at the cur
rent low levels the actual increase in
business activity has naturally been
small Seasonal factors appear to be
carrying their influence forward into
early October and, While in some in
stances there are signs that the peak
of the seasonal movement is passing,
in others, like steel, there is a sugges-
tion of continuing pressure toward ex-
pansion in response to slow revival of
diverse demand
AS against the recent tendency of
commodity prices to lose some of the
ground gained, the marked unseasonal
increase in residential building in Sep
tember is promising and in some re-
spects more encouraging than the con-
tinued expansion of public construction
work. 1t is almost the sole sign SO far
of resumption of private investment in
new capital facilities, upon which any
real business recovery under our exist |
ing economic arrangements depends.
This lag in new long-term capital
investment, except through government |
al channels. is the more remarkable
because of the unprecedented accumu-
lation of idle funds in the main money
centers, where short-term interest rates
are at the lowest levels on record. 1t
is evident that while considerable prog
ress has been made in dissipating the
more acute aspects of the panic psy-
cholcgy in the past few months, con-
fidence of investors and enterprises in
the early restoration of the purchasing
power of farm, factory and foreign con-
Sumers as a basis for business eXpenSion
projects is still somewhat insecure,
Business Week asserts.
Building Association 25 Years Old.
The Columbia Building Association,
located at TIC Eleventh street northwest,
is celebrating its tWenty-flfth annlver-
sary today. At the opening of business
this morning new and enlarged offices
were thrown open to the public for in
spection officers and other employees
being on hand to greet all visitors. The
reception will continue until 10 o'clock
this evening.
Columbia has made an excellent
record in the community during the
last quarter century, having paid regu-
lar interest to depositors and steadily
building up its assets. OIncials said
today that this sound growth has made
possible the extensive Improvements so
successfully carried out. During the
early business hours today regular
patrons and visitors expressed hearty
appreciation of the handsome quarters
and tie new equipment
The present officers and directors in
clude: John B. Harrell, president; Harry
e. Denham, vice president; c. Albert
secretcry, and Clarence E. Kefauver,
manager; directors-Franklin J. Auth,
Rayncnd K. Cook, Harry B. Denham,
Albert o. Denham. John B. HarreL, c.
Albert White, J. William Weber, c. Gay
Harrell and c. Krogmann.
Much Highway Building Planned.
Reports on employment conditions in
the fifth reserve district are conflict
ing but on the Whole there appears
to have been some Improvement in re-
cent weeks number of industrial
plants, especially in the textile field,
have either taken on additional work
ers or have increased hours OF work
for people already employed. On the
other hand, industrial plants and busl-
ness houses which have as yet felt no
stimulation in trade continue to lay of
workers. The States In the fifth dis
trict are planning extensive highway
construction programs for the near fu-
ture, partly in cooperation with Fed
eral aid funds and plans. the Richmond
Reserve Bank reports.
A. S. Goulden & Co. has mailed to
clients the thirty-third quarterly report
of MasSa chusettS Investors Trust, which
shows that the trustees in the past
three months have purchased over
$1,000 shares of stock in 81 different
companies and disposed of 45,400 shares
in Is companies. AS of September is,
the portfolio consisted of so selected
stocks. all but one of which were pay
ing regular dividends. The company
has paid cash dividends every quarter
sipce IFS orpa niZatiOn in 1924 the re-