Evening star., 1934-08-27

i ity at an early date for trading not
MY in spot but future contracts.
The Washington broker has taken
Unusual interest in silver for long
time. He advocated action favorable
~ silver before any move was made
BY Congress along this line. Follow
dlg the national monetiZation an
nJuncement by the Treasury, three
) eeks ago, he headed for Montreal to
l,ish his metal market plans in that
tdty.
While in Canada he found that
madam views on American business
we're of a very hopeful nature. BuSi-
less men there consider many of the
a l0re or less radical statements ap-
earring in the press as the views of
! Individuals, rather those of the ad-
I ,inistration. For that reason many
c these opinions are not taken seri-
Q sly.
Personally" Mr.. Chapman said, II
n very bullish OH the market, very
h ipeful of the last business quarter of
t year, and thoroughly agree with
N al. Angas' book
Wholesale Trade Improves.
In the fifth Federal Reserve dis
t. ict, which includes Washington,
lolesale trade In the first seven
n ,nths of this year revealed marked
z; ms over the like period a year
aI2 according to the latest reports
Fl "a Richmond. In July alone, two
lii IS were not up to last years
st ldard
L.ry goods and shoes were the two
la ing lines in July, being 32.4 and
g. per cent lower than in the same
M til in 1888 Groceries, hardware
arr drugs continued to gain, with
inC eases of 62, IA and 15.4 per
Ger respectively.
II seven months the gains were:
G. cries, 223; dry goods, 26.4; shoes,
1e. Hardware, SO, and drugs, 81
per cent.
lly building showed an improve
me t, with a total of $3.50, $50,
ccr pared with $1,758,392 year ago.
Gs rs we're reported in II of 81 cities.
he Richmond Reserve Bank adds
til retail trade last week was in
fsi y good volume, cooler weather
hr ing to increase sales. Labor con-
d, ons are being widely discussed in
til district, but the Fall prospects
a.. considered good. New Govern
M 1t orders are helping the coast
tei itory.
yashington bankers have long said
so new rules in bank examinations
w needed and in several cases some
NJ examiners Here is what the
~ c..
The Treasury is conducting studies
l.. coordinate and regulariZe bank
e. limitations. The objective is to
g. ablish one set of rules for the guild
g. ce of all examiners. whether they
n acting for the Federal Reserve or
# the controller or for the Deposit
7 surance Corporation or for the
r F. C.
1T is not an exaggeration to say
at bankers have been almost ter
IJrized for some time. Certainly they
Lave had great difficulty in knowing
%here they stood. One set of exam
5ners might find an institution thor
Uughly solvent and another group of
examiners find it insolvent. One ex-
aminer might reject certain paper and
another examiner accept it.
There are great quantities of paper.
rejected by examiners, which have
been paid out in full. The Judgment
of local banker as to the worth of
loans made in his own community
must be incomparably better than that
Of visiting examiner"
Today's Trading on Exchange.
The weeks business OH the Wash
ington Stock Exchange opened with
small-lot sales in Potomac Electric
Power per cent preferred stock at
111S, same as other recent transfers.
The stock is now quoted ex-dividend.
It closed with lll% bid The bid on
the same corporations 5l2 per cent
preferred was 11ll2.
Washington Railway g. Electric pre-
ferred figured in tiny sale today at
981a, ex-dividend, closing with 98l2
bid and 991s asked. A short time ago
this stock sold above par.
Bond trading today was confined to
q $1,000 sale in Anacostia g. Potomac
Railroad SIS at 74l2.
Capital Transit's July report was
still being awaited today, the delay
being due to vacations. The Chesa-
peake e. Potomac Telephone report is
also due. all other monthly statements
having already been filed with the
Public Utilities Commission.
Local brokers predict some pickup
Z. in business after Labor day and still
further gains in volume by October l