Evening star., 1934-07-23
Dc. TRADE SHOWS
BIG G|MPROvEMENT
All OF Leading Barometers
Record Gains Over First
Half of 1893.
BY EDWARD c. STONE.

BY EDWARD G. STONE.
According 10 all the leading ba-
ron1eters. business In Washington was
much better In the first half Of 1894
than in the like period Of 1898
In every one Of the first six months
Of this year bank ciesrings were larger
than in the corresponding months q
year ago. the total for the six-month
period being far ahead of the 1888
haifyesr total reports OF the wash
iriRton Clearing House Association re-
veal.
The report of the Potomac Electric
Power Co. on the kilowatt hour out
put N equally encouraging. Here
again the demand for current in
each individual month surpassed the
. same months year ago and piled
up highly pleasing sig-month total.
Telephone service always Is a good
guide to business conditions in any
community In Washington the num-
Der Of phones In service in the flrst
half of 1894 far exceeded the number
in use in the same period Of 1888.
The record Of the total number OF
telephone calls also presents an
equally favorable showing.
Postal receipts tell the same story
OF growing prosperity in the Capital.
Except for one month out OF the
six. postal receipts in Washington
we're ahead of the same months last
. nsry he
Is much higher than year ago.
Indices OF department store sales
back up the improved business trend
to July /. Here the percentage gains
are even more striking than In other
barometers The detailed figures, which
already have been printed month by
month. offer some very imposing COM
parsons. Business in washington, at
least, is decidedly on the upgrade.
And the happy situation is expected
to continue.
Debtors Alarm Credit Expert.
The wave OF debtor psychology that
has swept this Nation in the last two
years is Of real concern to those inter-
ested in bankruptcy matters from the
fGMROlt4b Vi DuctttIoH vi bAtt
tration of law, Henry H. Heimann, ex-
ecutive manager of the National Asso-
ciation OF Credit Men, told the annual
convention at Cincinnati of the Ma
tional Association OF Referees in
Bankruptcy.
Commenting upon the bankruptcy
legislation at the last session OF Con-
eress, Mr. Heimann expressed keen
regret that creditors interests we're
not given more consideration in some
of the amendatory bankruptcy meas
ures.
Referring to business prospects for
the Fail, the executive manager stat
ed that If labor difficulties were re-
moved business would resume in
spirited shape In the Fall. The funda-
mental factors essential for business
recovery are more in evidence today
than at any other time in the past
few years. These forces cannot assert
themselves. however, If the country
continues to experience the labor diff
ficulties of recent weeks
The principal burden upon business
In the coming year will be the burden
OF taxation. which cannot help but
rise very sharply he said in a report
received by the Washington associa-
ton today.
Nine More Sl00, ,000, 900 Banks.
Forty-seven banks and trust COM
panies In the United States had de-
posits of 500 10000 or more on last
June 30. the largest number since
the middle of 1891 and nine more
than a year ago.
At the end of last year there were
80 institutions in the big" bank
class, compared with 80 on June 30.
1888, a. on December 80, 1892. and
A on December 81, 1881 Three
years ago--June 30, 193l--there were
81 institutions with deposits of $780,
600, 900 or more, says the Wall Street
journal.
The steady rise in deposits in the
country's banking houses in the last
year, as well as reopenings and re-
organizations of closed or restricted
banks, has probably brought deposits
for all banks within close range of
the figure at the end of 1881. The
total then was 45.800, 900 900, in
1886 banks and trust companies. AS
OF June 80, 1888, deposits in 1880 in
stitutions aggregated S38,0l 900, 900.
Bank Stocks Sell Lower.
New York City bank stocks regis
tered a decline during the past week.
The aggregate value of Is leading
issues. according to records compiled
by Holt, Rose a. Troster, totaled
Sl,534.Sl5, 900 on July 20, as COM
pared with 81 582, ,46l 900 at the close
of the previous week. decrease of
S4S,i46, 900, or 304 per cent
Registration statements filed under
the securities act of 1898 with the
Federal Trade Commission and be-
coming effective during the fiscal
year ending June 80, were 7l3 in
number and involved security issues
in the sum of 962.856. .438. OF the
total of 7l3 statements becoming eff
fective during approximately the first
year OF the administration of the
act, Sll were for industrial issues
amounting to s225.2S5. .592.
The July bulletin of the Federal
Reserve Board came out today. In
addition to the monthly review of
business and banking conditions.
much space is given to the boards
new powers to loan money direct
to industry. The board states that
conferences with the chairmen and
governors OF the u Reserve banks
indicated that such loans we're badly
needed and adds that no efforts to
compete with banks for loans are TO
be made
Today's Trading on Exchange.
Washington Railway & Electric