Evening star., 1932-10-17
INCREASE IN SALES
VOLUME REPORTED
October Survey of Credit
l.; Men Also Shows Better
Collections.
BY EDWARD C. STONE.

BY EDWARD u. S1ONE.
A decided upturn in collections and
sales throughout the country is revealed
in the October survey by the National
Association of Credit Men. Previous
months had witnessed a slowly rising
curve to indicate improvement. but In
the current month the turn upward Is
sharp and decisive. emphasizing the IA
vorable indications now being reported
in many parts Of the country.
Five cities, In contrast to one in Sep
tember. note collections as good" In
five cities in the good" column in
stead of two. Collections ere reported
as good" in Springfield Mass; Austin,
Tex; Charlotte, N. c.; Albany and New
York City. Austin, Charlotte and Al
bany also reveal good" sales and to
this list are added Dallas, Tex, and
Helena, Mont.
Delving through the reports from the
los correspondents in the country
major markets it Is seen that the
sales betterment is well in advance of
the collection betterment as to inten-
sity, but this is interpreted as logical
condition because collections invariably
follow sales in wholesale circles by a
reports from various States indicate
the improved outlook.
Business Gains Still Evident.
The general business situation con-
tinues to be featured by indications of
moderate improvement. This better
ment, however, Is still modified by the
failure of some factors to respond to
the upward tendency. 1t is evident,
- Y,1-< ;k,,x1
that the propaganda issued during the
past Summer greatly exaggerated the
extent of business expansion this Fall.
1t was apparent at the time that such
propaganda was not warranted.
In view of the incompleteness of the
necessary adjustments, any marked re-
vival in the immediate future was IL
logical. Disappointment is consequently
not justified. In fact, business should
feel more encouraged than otherwise.
1t is great step forward that the
downward trend now seems to have
been definitely halted even though no
conspicuous recovery has occurred.
Present conditions are in marked con-
trsst to those Of year ago when the
downward movement was in rapid prog
resS.
Although business at the present time
Is at much lower level than year
ago. the prospect that conditions are
not likely to grow worse Is sufficiently
heartening to Offset last years greater
activity with the severe slump of the
first half of 1882 in the ofing, the
forecast says.
Traders Await Elections Passing.
being awaited by good many traders
and investors, according to local brokers
and bankers. The sudden pickup in
the stock market last Friday caused
return of a lot of financially minded
people to the local board rooms to see
what might happen next. So far, things
have been rather quiet.
After election the course Of the mar
ket viii be guided more by economic and
business news Politics will not receive
any such attention as at present, since
the uncertainty will be over. Car load
ings, retail and wholesale trade reports,
steel activity, automobile trade trends,
moves the grain and other commodity
markets, the foreign situation and a
score of other factors will be accorded
the study which they merit in any fore
casts CT long-term probabilities.
From New York come reports that the
Increased business on the exchange dur
ing the past weeks has resulted in in
creases in the working forces of many
brokerage houses. some firms have add
ed from Is to 25 per cent more employees
since the upturn in share volume start
ed last July. A survey of rs of the
larger active houses with one or more
Offices in New York. shows increases in
personnel ranging from per cent to
SO Der cent as direct result of the
more active stock market. .
approximately 1000 employees have
been taken back by these rs firms. This
would indicate an average increase in
personnel of 26 for each firm, though
actually from to 200 employees have
been rehired. One of the largest COM
mission houses has added 200 since last
july: its payroll now approximates
1000.
d. C. Insurance Men to Meet.
President John P. Lynch of the Dis
trict of Columbia Life Underwriters
Association, announced today that
Grant Hall Of New York City will be
the guest speaker at the october
luncheon Thursday, at the Washington
Hotel Mr. Hall has been unusually
successful in the insurance field.
A playlet will also be presented. the
title being "Life's Like That" 1t IS an
insurance sketch that made a hit at the
recent national convention. Members OF
one of the local agencies will assist in
this presentation.
It was also stated today that Charles
C. Thompcon, president of the national
association, will attend the November
meeting and Roger B. Hull, managing
director and general counsel OF the as
sociatioa, also hopes to be here. The
meeting is sure to be one OF the most
important of the year.
Bankers Would Expand Service.
Adequate and dependable investment
service for investors and the means ano
methods by which investment bankers
NAV make such service most practical
and economical for investors Will receive
the distinction Of special, separate
session at the Investment Bankers AS
sociation October 22-26 at White Sui
phur Springs, w. Va. In making the
announcement. Alden H. Little, execu-
tive vice president of the association
sad that the conventions special meet
ing on investment management service
had aroused more interest among IN
yestment bankers throughout the coun.
try than had any of the other important
internal. operating problems that would
be presented at the convention.
Today's Trading on Exchange.
GEORGETOWN Gas blSuI 90 heuiSu -
a $500 sale at 1904 as the opening
transaction for the week on the wash
ington Stock Exchange.
Washington Gas Light IS, series A
recorded two small sales at 1914 ane
after call figured in another sale o.
$500 at the same price.
stock trading was confined to WASH
ington Railway g. Electric preferred
which changed hands at 80 and Poto'
mac Electric Power 512 per cent pre-
ferred sold at los.
Several local issues paid their reg
ular quarterly dividends on Saturday
october is. American Telephone, whicf
Is also listed on the Washington Ex
change, also made its usual payment.
nxA-- Esr~ vriol NOtex