Evening star. [volume] (Washington, D.C.) 1854-1972, 1934-04-03
DEFICIT EXCEEDS
2-B|[[|0N MARK
April Financing Planned by
Treasury-Better Bust.
ness Is Seen.
BY the Associated Press.

BY the Associated Press.
The Government closed nine months
of the fiscal year today with expendl-
lures of 100000 and a deficit of
s2,542 2ss, 900.
AS this was made known, the Treas
ury was planning for billion dollars
of April financing and noting what 1t
considered tangible evidences of bust
ness improvement.
Routine operating expenses at the
close of March totaled 81 ,987 .039 600
compared with revenue of $2,305,-
704.OOO.
Emergency OUTLAWS of 81 1850, 965, 900
exceeded the amount of the deficit.
Deficit Kept Down.
Only three months Of the fiscal
year remained and Treasury officials
conceded emergency spending would
not reach the $1,000 900 900 figure
previously estimated for June 80.
The public debt at the close OF
March was s26,l57, sos, 900, as COM
pared with s21 1862 ,464, 900 a year ago
The rate of spending again dropped
off in March to the lowest figure since
November Total March OUTLAWS were
500 ,232 ,937. as compared with $685.
321 ,855 in February and $3.50. SIS, 087
in the peak month Of January.
The emergency portion of March
spending was s449, 100000, or slight
ly more than February's s447,323 900
Operating Loss Small.
The operating deficit in March was
the smallest of any month since Sep
TENDER because Of first-quarter tax
payments on 1888 incomes. The
March deficit was $3.50, 129, 0OO as COM
pared with $429, $4,000 in February
and S769, 625 900 in January.
Income-tax collections in March
were $232, 0O7,128. a figure below pre-
vious Treasury estimates of $3.50 .000.-
00O That brought revenue for March
to s42O,1O3,481 for the biggest single
month in the fiscal year to date.
C. w. A. Biggest Spender.
The Civil Works Administration was
the biggest emergency spender in
March, with 1928, 900, as compared
with $50, 100000 in February. Other
large emergency OUTLAWS in the month
included $40, 500 900 for emergency re-
lief. s76, 221, GOO for the Reconstruction
Finance Corporation, $27,313,000 for
conservation work and $22, 729,000 for
public highways.
Secretary Morgenthau said the
%@ iyiy no hi
called fourth Liberty bonds on April
Is would be announced tonight. After
a talk yesterday with the Federal Re-
serve Systems Open Market Commit
tee he added in the same connection:
"The committee seemed to be in a
cheerful frame of mind over business
conditions"
Freight Increase Seen.
Figures published today from Treas
ury and other quarters threw these
items into relief:
l. A forecast by the 10 Shippers
Regional Advisory Boards that freight
loadings for April. May and June
would reach 4,376, TBS carloads. or 10.7
per cent more than the 3,945, 1858 car
loads for the second quarter OF 1888.
2. A weekly statement by the Fed
eral Reserve Board that member
banks in 81 major cities had made
$4,OOO,0OO more in loans other than
those made on securities. although
loans on securities dropped SIS, 000, 900.
Drop in Balances.
3. A recent Federal Reserve Board
compilation showing a $4,000, 600
drop in member bank reserve balances.
Previously, increases in reserve bal
ances had caused officials considerable
worry
4. A statement by Jesse Jones,
chairman of the r. F. c., that with an
unused lending power of billion dol
lars and loan repayments of 100000
900 since January /, the r. F. c.
could finish the year without going to
the Treasury for more money.
Jones told newspaper men yester-
day that business Is better and credit
easier. He estimated the r. F. C.s
requirements would run 100000, 600
below budget estimates and attributed