Evening star., 1935-12-24

factors in the improvement in the Sc
curity markets recorded during the
last year. Easing of the registration
rules by the Securities and Exchange
Commission. under the guidance of
Chairman James NJ. Lands. also fig
ured in the upturn Of investment &C
tivity, he said.
All investment dealers in Washing
ton with whom the Bond CLUBS presi-
dent has talked, have reported Tar
better business than the total turn
over in 1884. These same investment
bankers are now forecasting a further
expansion in volume during the next
u months, Mr.. Lemon asserted, add
ing that he holds similar views on the
volume outlook.
Marked Progress Noted.
Conditions are so much improved
over the beginning of the year that
business momentum alone should
have a tendency toward continued
Improvement With a reasonable
pickup in new financing and refund-
ing operations, together with further
Club leader expects year, so far as
washington is concerned, that will be
highly gratifying.
AS more and more idle funds are
put to work and New Year dividend
disbursements are plowed back into
the market, the results should be ia
vorable to all dealers in prime bonds
OF course new securities will have to
be favorably priced in order to attract
investors. Present confidence must
also be maintained, he said.
There are always so many conflict
ing elements to be weighed that any
statements regarding either short or
long term price swings would be mere
euesswork. But when it is considered
that the past year has been the best
in bond circles since the 1929 crash
in Wall Street, it is only natural that
investment dealers should feel cheer
full as 1886 approaches.
Turning to the near future plans
of the Bond Club, MI. Lemon said
he expects to have some luncheon
speakers who will be of particular
The annual outing will come at the
usual time.
Bank Declares So Dividend.
Directors of the National Bank of
Washington. at their regular December
meeting today, declared a regular
semi-annual dividend of So per share
on the capital stock of the bank. pay
able January 2 to stockholders OF
record December "a. Transfer books
will be closed until January Is.
Employees of the Acacia Mutual
Life Insurance Co. are putting the
finishing touches on the program to
be presented at their annual Christ
mas party tonight at the Wardman
Park Hotel Little Theater. The entire
program is furnished by Acacia talent,
and the audience will be comprised OF
employees and special guests. Presl-
dent William Montgomery, at whose
instigation the annual Christmas party
idea was created. is the guest of honor.
Members of the board of directors and
their families. as we'll as other friends
of the company, will be among the
guests
Brisk Christmas trade was reported
In Washington and the rest of the
Fifth Federal Reserve District today.
last-minute shoppers janming the
stores, the street cars and other means
of transportation to the limit. 1t
looks now as if business would be
about 25 per cent better than last
year.
Wholesale Trade Irregular.
Wholesale trade IN the Fifth Fed
eral Reserve district in groceries, hard
ware and drugs in November surpassed
business in November year ago, but
was below last year in dry goods and
shoes, the Federal Reserve Bank of
Richmond reported today Groceries
were up 6.5 per cent, and sales frac-
tionally higher in drugs and hardware.
The slump in dry goods amounted to
"a per cent and in shoes 1912 per cent.
There was the usual seasonal let-up
IN comparison with October of this
year.
From January to the end OF Novem-
ber Wholesale groceries were ga per
cent better than year ago, were up
78 per cent in hardware, ! per cent in
drugs but were off 1915 per cent in dry
goods and 10.6 per cent in shoes. The
reason for the declines is said to have
been the weather. Bad weather in
October slowed up retail sales late in
the month and this was reflected in
drop in wholesale orders in November.
The December figures are expected to
reflect improved wholesale conditions
The Fifth District made its best No
vember record in building activity, the
volume moving from $3,el4,41l a year
ago to S5,267 ,569, a gain of rs per cent.
Heard in Financial District.
Robert " Fleming, as president of
the American Bankers Association,
told President Roosevelt yesterday that
the banks of the country are ready
and anxious to take over from the
various Government loaning agencies
as much of the banking business as
possible. This is in line with action
taken at the New Orleans convention
urging the Government to retire from
the banking business as rapidly as re-
turning normal conditions warrant.
Ten shares of Washington Loan g.
Trust Co. stock sold at 203 on the
Washington Stock Exchange today, a
new 1885 high mark in this issue.
Railway B. Electric preferred moved
at 1073s and 107la on 40-share
turnover.
Directors of the American Ice Co.
have declared a dividend of so cents
per share on the preferred stock, pay
able January 80 to stock of record
December IS.
The Treasury announces another
S5o,000,0o0 offering of Treasury bills
to be dated December 81 and matur-
ing September 80. 1886.