Evening star., 1934-09-17
TRADE CONTINUES
TO CLIMB HERE
Encouraging Comparisons
Are Made Available by
Reports for August.
BY EDWARD C. STONE.

in Washington, according to detailed
figures summed up in the most i'm
portant barometers. New and en-
couraging comparisons now are made
available through the August reports.
Receipts at the Washington Post
ONCE during August totaled s445 ,316
against S424.733, an advance of
S20,583 over the July returns. But
the real comparison is with August
a year ago when postal receipts totaled
s397, 1854. This means a gain in Au
gust of this year of S47,952.
Postal receipts made On important
turn around the corner last April, the
figures that month being considerably
ahead of April, 1888. In May the
total also was good deal better than
In May of last year, being S499,587
against $456,693. The same was true
in June with S453, 1853 as compared
with $444, 1913. July receipts were
$424,733 against the far lower figure
in July. 1888, of $372,818. And now
comes the August record, adding fur
ther to the upswing.
The kilowatt hour output for the
District, as reported by the Potomac
Electric Power Co., reveals the same
favorable business trend. KiloWatt
hours in August totaled 42,106,021 in
comparison with 9,849,824 a year ago,
an increase in the month recently
ended Of 12,256,197. Monthly COM
parsons of the first eight months of
this year with the same months year
ago show generous gains in every
month.
Telephones on Increase.
The same pleasing situation is indi-
Gated in the latest reports from the
Chesapeake g. Potomac Telephone Co.,
the figures SO far this year being even
more striking than some of the 9TH
ers. This report shows that Wash
ington was served by 83,318g tele-
phones at the close of business August
81. This was net gain of 726 tele-
phones for the month. At the close
of business August 81 last year Wash
ington was served by 172,675 tele-
phones.
For the first eight months of 1884
there was a net gain of 4,557 tele-
phones in Washington, as compared
with loss of 6,641 for the same period
In 1898.
During the month of August, 1884,
Washington telephone users made 615,-
227 average originating calls per day,
as compared with 602,856 calls per
day in August, 1888.
Month-by-month comparisons so
far this year with the corresponding
months in 1888 bring out the fact that
the number of Chesapeake & Potomac
telephones in service and the total
number of calls completed have regis
tered substantial gains each month.
More lines and buster lines have added
their share to increased activity in
the Capital.
Clearings Mounting Steadily.
Check transactions reported by the
Washington Clearing House Associa-
ton add their full share of cheer to
the outlook. August clearings totaled
$59,433,23l, against $45, ,405, ,937 in Au-
gust, 1888, an increase of more than
S14,000,000. AS Cancelled checks are
such good business indicator, it is
important to note that clearings in
Washington, with the exception of the
first two months of 1884, have marked
up substantially higher figures each
month over the like months in 1888.
And last, but not least, comes the
retail trade sales record. Retail sales
d IN this city exceeded August, 1898, by
14.6 per cent, making a cumulative
gain so far this year of 1873 per cent.
The August sales record was the best
in any city in the fifth Federal Reserve
district and the fifth district average
stood at the top of all IL Federal Re-
serve areas.
These fine records are more than
mere Straws in the business wind. The
mounting indices cover a sufficiently
long period to prove that business
conditions in the Capital will be ex-
cellent during the rest of the year.
Both bankers and merchants insist
that Fall and holiday trade, the in
creased population, and other factors
can mean only growing prosperity for
some time to come.
Reserve Banks Income Jumps.
An increase of 81 per cent in in
come from holdings of United States
Governments, offsetting a sharp de-
crease in earnings from discounting
operations and bills purchased, en-
abled the IL Federal Reserve Banks,
including the Richmond Bank, in the
first half of this year, to realize
profit almost as great as that in the
corresponding period of 1888.
Income from holdings of United
States Governments aggregated $23,-
078,671 in the current years first
half, an increase of $6,2O8,O0O over the
similar six months a year ago. 1t
compared with $37, ,529,872 earned for
ell of 1888.
Salaries paid to officers, clerical
employees and others aggregated
S8,987,803 in the first half of this
year, against $8,532,18 a year ago.
Against total operating expenses, sal
aries constituted 60 per cent compared
with 81 per cent in 1888. The item
Of postage" which constitutes one of
The larger expenditures, was slightly
smaller this year, totaling S1,l36,265
against Sl,277,739 in 1888. Taxes on
banking houses increased by $4,000,
while assessments for Federal Reserve
Board expenses were up S253,000, to
S661.l17.
All of the Reserve banks showed
profit in the first half of this year,
-anging from S92,501 in the case of
The Kansas City institution to S4,620,-
j71 for New York.
Capital Transit at New Top.
Capital Transit stock sold at a new
nigh on the present movement when
the weeks business opened today on
The Washington Stock Exchange. The
price hit 26l2 on three small-lot sales
The issue closed with 26 bid and 27
asked.
Mergenthaler Linotype figured in six
sales, four at 1915 and two at % fat.
The rest of the trading was in bonds.
Washington Gas SIS, 1860, moved at
t08H, while $1,000 Potomac Electric
consolidated 5s changed ownership e.
!o4%.
Large banks in the fifth Federal re-
serve district are reporting the largest