Evening star., 1936-12-14
months in 1885:
S6,4os,622 Ss.ssl.st
Davis for Low Money Rates.

The Government should not aban-
don its easy money policy merely to
remove the possibility of non-existent
speculation. Chester c. Davis. mem
ber of the Board of Goveronrs of the
Federal Reserve System, declared in
an address in California.
Under present conditions I GER
tainly am not in favor of the historic
method Of attempting to check Specu-
.iative imitation by raising interest
rates and Tightening the money mar
ket all along the line" Mr.. Davis,
former A. A. A. administrator, de-
clared.
Until we reach a much larger ma
tional income than We have achieved,
an abundance of cheap money to
finance production and distribution
Is required" MIR. Davis asserted.
Rail Traffic Gains Amazing.
One Of the most encouraging factors
In the present railway situation is the
rapid acceleration of traffic gains,
both freight and passenger, says the
Railway Age.
The increasing rate of freight traffic
Improvement is shown by the fact
that while car loadings in the first
six months Of 1885 showed gain Of
! . per cent over 1885. the correspond
Ing gain from July to mid-November
vas 10 per cent. Indeed. so rapid
WAS the trafic growth that scattered
car shortages, averaging less than 200
ears, were reported in the last half Of
September-the first time such an oc-
currence has happened since Octo-
ber. 1929.
Likewise, continues the Railway
Age, the number of passengers carried
by the railways showed a gain in the
first half Of 1886 of 8 per cent over
the same months last year. This gain
then rose to IL per cent in July and
to Is per cent in August. For the
5irst month since March, 1882. the
railways carried in August this year
o total Of more than $4,000, 900 pas
sengers. In the first eight months of
1886 the railways carried $4,000, 900
more passengers than in the same
months q year ago, a gain equal to
almost one-quarter of our national
population.
Brokerage Firm PAYS Bonus.
The New York Stock Exchange firm
Of Auchincloss, Parker & Redpath,
which has Its head ofice in Wash
ington. Is distributing a Christmas
bonus to all employees Of the company.
Approximately two weeks pay is
being presented to each individual
a. a Yuletide gift. Chauncey G. Par
ker. jr., stated today. The firm also
has Offices in New York. Baltimore,
Philadelphia and Wilkes-Barre.
Washington banks appeared in their
Christmas uniforms today, small trees
and colored lights adding to the holi-
day atmosphere. Some Of the lobbies
were much more highly decorated this
year than last, indicating the substan-
tial growth in banking prosperity dur
ting the past IL months.
Harry G. Meem, president Of the
Washington Loan & Trust Co., believes
that business in the Capital during
the remaining days Of 1896 will con-
tinue to be the best since 1929. He
has observed no recent hesitation in
the steady advance which has been
going on for many months. Mr..
Meem Is conservatively optimistic on
the outlook for 1887, at the same time
being most gratified with the progress
made IN banking this year.
James M. Johnston, head of the
investment firm bearing his name.
commented today on the large amount
Of interest taken recently in Wash
ington bank stocks. There has been
o lively demand for these issues at
strong prices. There have been more
orders for bank stocks on the Wash
ington Exchange than could be filled
at the prices offered by investors
Other securities have also been in
favor.
Financial District Gossip.
Atlantic Coast Line Railroad re-
ports for 10 months ended October
81, 1885. net income Of 1907. .928 after
taxes and charges, equal after divi-
dends on per cent preferred stock,
10 S1.0s q share on s23.427 shares Of
common stock. This compares with
net loss OF $1,699,104 in first 10
months Of 1888.
The Baltimore Transit Co. has de-
elared . semi-annual interest pay
nient Of IA per cent on the series
A. per cent debentures of 1875, and
az per cent ON the series A 5 per cent
debentures OF 1878, payable January
], 70 holders Of record December Is
On July /, an interest payment was
made on these obligations at the rats
Of / per cent on the series A 4 per
cent debentures, and ~ per cent on
the series A S per cent debentures.
Fred 8. Brynn, agency supervisor
for the National Life Insurance Co
OF Vermont, attended the last meet.
Ing of the District Life Underwriters
Association. He was much impressed
by the rapid growth Of the association
and the enthusiasm shown.
Today's Trading on Exchange.
Ten shares OF National Bank OF
washington stock sold on the WASH
ington Exchange at 126 again today,
the peak 1895 price.
Washington Railway & Electric Is
figured In two $1,000 transfers, both
at 1863. The closing asked price
was 1071a.
Capital Traction SIS also appeared
On the board today. $1,000 changing
hands ut %, around recent levels.
No sales were recorded In Morgan
thaler Linotype, but the stock was
stronger than at the end Of last week.
k4h bid and ssh asked.