Evening star., 1936-07-21
bAR0METERS PASS
MARKS SET IN 1929
Business Indicators Score
Brilliant Gains During
First Half of 1886.
BY EDWARD C. STONE.

1885. In fact some of these indicators
have reached all-time high marks.
Kilowatt hour sales for the District
In June alone totaled 50.372,105. a
gain of 5,5l7,188 over June, 1884,
or 1890 per cent. Comparisons re-
veal that each month Of this year
witnessed klowatt hour output ahead
of the corresponding months last year
and the best on record, as last years
electric power sales had exceeded all
other records in total volume, accord
ing to reports from the Potomac Elec-
trio Power Co.
Check transactions have been ad-
vancing consistently ever since 1882,
and the first half of the present year
finds bank clearings far ahead of
1885, 1884 or 1888. The Washington
Clearing House figures in each of the
first six months Of 1896 were well
ahead of the same months last year.
They have maintained steady up
ward trend for four years, and at the
present rate will soon be back in 1881
ground. In none of the first six monts
of 1882, 1888, 1884 or 1885 did clear
ings in the Capital cross the $780,
100000 mark. Twice this year they
have crossed this line.
Phone Calls Exceed 1929.
Telephone in service and originat-
ing calls in the last six months have
likewise surpassed the records of all
recent years. While there was a drop
of 30l phones in use during June
from May, the Chesapeake g. Potomac
Telephone Co. reported substantial
increase over June, 1886. Month by
month the number of calls this year
has been we'll above the total in the
same months last year. The number
of originating calls has even gone
ahead of the business done in the first
half of the memorable year 1929.
The index of department store sales
in Washington in the first half ct
1885 was almost sensational in its gains
over 1894. Yet 1886 has seen six
months of retail trade that Was much
better than in 1885. The six-month
record has also smashed any marks
set in other years early in the Ge-
preston.
The same Improvement is true OF
postal receipts at the City Post Office.
June ended the Governments fiscal
year with total receipts of S710l $50
against s6,308,074 in 1934-5, and
s5,631,243 in 1884. Postal receipts,
too, are now ahead of the famous year
which included the stock market
crash and the beginning of the calam-
atous aftermath.
At the beginning of 1886 it was
clear that the depression in the Capt.
tai was over. Latest figures merely
pile up the evidence. But they make
fine reading for business barons, bank
ers, brokers and bond men.
New Investment Code Planned.
Y. E. Booker, chairman of the
Southeastern group of the Invest
ment Bankers Association, attended
a meeting in Chicago yesterday OF in
vestment bankers and security dealers
from all parts of the country, al
which a plan was unanimously ap.
proved for setting up a Nationwide
organization to keep the investment
banking business on high plane
Every effort will be made to maintain
fair practices and carry on the work
which got SO we'll started under the
old N. r. A. code.
B. Howell GriSwold. jr.. OF Alex
Brown & Sons of Baltimore and
Washington. was chairman OF the
meeting. He stated that James M
Lands of the Securities and Exchange
Commission had pledged full Coop
Grafton and had also expressed the
opinion that much good could be ac-
complished by such move by the
investment dealers. Chairman Irls-
void added that the proposed organi-
zation is designed to standardize fair
business practices and maintain high
principles in the investment banking
business, aiming at the ultimate Ge-
velopment of self-regulation in the
securities business, and forming a
nucleus for representation of the ousi-
ness in cooperating with govern
mental authorities in the discussion
of rules and regulations"
Mr.. Griswold explained that the
proposed organization would not
conflict with the Investment Bankers
Association of America. The new Or
ganization will be much broader in
its field, embracing every registered
investment dealer of good character
who cares to join it. It is estimated
there are about $500 dealers registered
with the Securities and Exchange
Commission.
Convention Plans Sought.
Member banks in the District Bank
ers' Association received letters today
from headquarters asking for infor-
nation on A. B. A. national conven-
ton plans. The convention is to be
held in San Francisco in the Fall, but
reservations must be made at once.
Special trains are already being char
tered from New York and other
points which will be available to
Washington bankers.
Robert v. Fleming, as president of
the A. B. A., will preside at all the
general sessions and also present his
annual report which will show great
activity during the past year. He has
taken very little rest since he took
Office last Fall and will have plenty
to talk about when he reviews the
years achievements at the San Fran
cisco gathering.
1t is not known yet how many
bankers will attend the meeting from
Washington. Wilmer j. Waller, vice
president and cashier of the Hamilton
National Bank, was one of the first
definitely to state that he would at
tend. 1t is understood that several
other bankers expect to ask for res
ervations in the near future.
Lively Trading on Exchange.
Lively trading on the Washington
Stock Exchange today opened with
three $1,000 and one $4,000 transfer
in Anacostia g. Potomac River Rail-
road IS at 1912. Capital Transit SIS
again sold at 9214. and several small
transactions In Washington Gas IS,
series B, were recorded at 100.
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