Evening star., 1936-12-29
OUTLOOK BRIGHT
IN FIFTH DISTRICT
Maryland Roads Program
and Roanoke Steel Plant
Important Projects.
BY EDWARD C. STONE.

OF a 81 900 900 contract to a Roanoke
steel plant and a $60,o00,000 road
building program announced by the
State of Maryland.
At the same time fifth district tex
tile, tobacco, rayon and paper indus
tries have been humming with activ-
ity, with no labor troubles to disturb
progress in any of these lines. Latest
estimates are that retail trade in this
territory will average about IL per
cent better than in the same period
in 1895.
The Federal Reserve Bank of Rich
i1ond reports that weather conditions
have enabled construction to con-
tinue at an unabated pace. November
permits amounted to s6,913,844, or 81
per cent greater than. the S5,267579
total in November 1885. November
chalked up the thirty-fourth consecu-
tive monthly gain which started in
February. 1884.
Jobbers all over the district report
. heavy pickup in orders for quick
delivery. to augment depleted store
stocks. Recent refill orders have been
considerably above normal, reports
state. Postal receipts. realty trans
fers and bank clearings are continuing
at high level.
Higher Transit Income Seen.
Adoption of the s125 passes by the
Capital Transit Co. at the end of the
present week is expected to make very
substantial improvement in earnings
next year. The company has been
selling about 10000 passes every week
The addition of 25 cents to each one
OF these passes will mean a great deal
to the company.
There was gain of 1,168, ,1O2 in the
number of revenue passengers carried
in November. In the first IL months
OF 1896 the company carried 1885,
233,S93 paying passengers against
1913 s,6s9,503 in the same period Of 1885,
an increase of 16,544,390 or an i'm
provement of II per cent.
Expenses during the past year. how
ever. proved heavy blow to net
earnings. After all deductions net
earnings In the II months totaled
s2.162s5, against s3858553S last
year, a decrease of s383,692 253, or
90 per cent. Operating revenues
amounted to $9.5o7,771 81. compared
with s8,556,518.52, an increase of
1851 ,253.30. up II per cent
At the same time total operating
expenses, taxes and depreciation
showed an increase of s1,270,628.94,
or 16.5 per cent. Operating expenses
Tot 1nL
crease of S988, 80, or Is per cent.
Taxes called for S592, ,393.7l, up s54,-
840l9. or 1912 per cent, and deprecia-
tion took S925 ,603.81, an increase over
the same period in 1885 OF s226. .924.3
or 35.5 per cent. There was falling
of Of $500 in incorporating in
come which reduced gross still fur
ther.
In the picture in 1887 the heavy
expenses for track changes will not
appear. With this reduction in costs
and higher pass revenues, it is ex-
pected that the improvement will be
notable.
Bankers Meeting Date Fixed.
Representatives of Washingtons %
financial institutions will attend the
annual Midwiner meeting of the Dis
trict of Columbia Bankers Associa-
ton the evening of January 18 at
the Willard Hotel.
Karl w. Corby of W. B. Hibbs &,
Co., president Of the association, in
announcing this date through Vice
President Thomas j. Groom, has in
dicated that an interesting program
Is being planned. A speaker of wide
repute is being selected and will be
announced in the near future.
The appointment of a chairman
for the 1887 Convention Committee Is
expected. This selection will, there
Tore, receive its share of interest and
discussion during the evenings pro-
ceedings. 1t was recently announced
that this conclave would take place
at White Sulphur Springs May 26
through May 81.
Further Price Rises Likely.
The spectacular advances in many
commodities during November and
December have lifted the average
price level nearly 4 per cent, says the
United Business Service in it's current
report. The recent squirt is nearly as
great as the entire gain in prices
from January. 1885, to the Autumn of
1886.
The service takes the position that.
the current rise in commodity prices
Is justified by the improved statistical
position IN most items. It points out
that supplies have been decreasing
rapidly, with consumption being
stepped up to the best level since
1929. Heavy accumulation Of raw ma
terials by foreign countries for war
needs has caused q drain on inven-
tories. Food supplies have been kept
low because Of the severe drought of
last Summer.
Speculation in commodities has in
creased recently and this has placed
some items in q vulnerable position.
Technical corrections, therefore, will
probably occur from time to time.
These are likely to be only temporary
Interruptions in a general upward
trend, the review says.
Heard in Financial District.
The National Bank of Washington
paid Christmas bonus to all en-
ployes Of the company, the distribu-
tion being made on Christmas eve.
The bank has enjoyed an exception.
ally good year. according to President
J. Frank White.
Frank J. r. Thiel, manager of the
Washington Office of J. S. Bache & Co.,
Is distributing the firms annual re-
view and outlook to clients. 1t is one
OF the most optimistic forecasts on
1887 which has yet appeared in the
financial district.
A. G. Brown, president of Ohio
Citizens Trust Co.. Toledo, has been
appointed chairman of the Subcom-
nnittse on Government Lending
Agencies Of the Committee on Bank
ing Studies, American Bankers Asso-
citation, it is announced by Wood
Netherland, St. Louis. chairman Of the