Evening star., 1936-12-12

con said:
Retail sales .-.- w o.s...
should continue 'R'' '" '''h'
20 hold up. In order, however, for
retail sales to continue to increase,
new products must be developed.
Commodity prices will continue
10 strengthen, going up for a few
months and then sagging for while.
This process will continue for some
time to come.
There will increases in skilled
labor rates and some increase in the
general wage level. There, however,
cannot be any marked increase in
general wages so long as so much
unemployment exists. Wages are
determined, not by the cost of living.
but by the number of unemployed
who stand ready to take vacant
positions.
Sharp Building Gains Seen.
There should be marked IN
crease in new building and in the out
put OF the heavy industries. The
latter has been held back thus far
by politics, now pretty much settled
for the next two to four years
Interest rates will continue low for
O while longer and, in fact, until the
Government refunds the present debt
for 20 years at 21a per cent. The
general bond market today, however,
looks pretty high to me.
IF the utilities get a favorable de-
eision from the Supreme Court, utility
stocks should jump. Utility holders,
however, should not be elated with
such a decision. 1t will be followed
by further legislation, which will ac-
complish the same thing in an
other manner.
The railroads should do better in
1887 than in 1886, but they are still
confronted with a great many handi-
caps, I prefer airline, motor coach
and equipment securities.
Imitation Is already under way and
should cause an increase in real
estate prices in 1887" Mr.. Babson
concluded.
His predictions were both optimistic
and conservative, many OF his remarks
being carefully qualified. He urged
usiness men and investors to watch
the charts closely and If any large
black areas" should develop rapidly,
TO reef their sails"
Maryland Crop Yields Mount.
The Federal Reserve Bank of Rich
mond has just reported that as the
result Of favorable weather crop esti-
mates on November l were nearly all
somewhat higher than the estimates
made on October ], and prospective
per acre crop yields for all crops COM
bined rose in all Fifth district States
except West Virginia, which dropped
! per cent.
Prospective per acre yields on No
yember l, expressed as percentages of
the 10-year averages Q921-l930,
were as follows in States in the dis
trict: South Carolina, 129 per cent;
North Carolina, 108 per cent; Mary
land, 102 per cent; Virginia. 81 per
cent, and West Virginia, 78 per cent.
South Carolina rose points during
October, North Carolina rose 3 points,
Maryland points and Virginia l
point, while West Virginia declined
point.
The national average was 86.5 per
sent on November /, rise Of points
during the past month.
Investment Interest Growing.
Chauncey G. Parker, partner in the
New York Stock Exchange firm of
AuchincloSs, Parker & Redpath, Ma
tional Savings Building, reports that
. larger number than usual of small
investors are now buying stocks and
showing keen interest in all the secur-
ity markets. This is not only true in
Washington, but in Baltimore, Phila-
delphia and other cities, where he has
made inquiries. There has also been
D decided increase in interest in new
issues, which were in lighter demand
around election time. While there
Is likely to be more or less irregularity
m the markets during the next few
months, Mr.. Parker is highly opti-
nistic on the general 1887 outlook.
Heard in Financial District.
Francis G. Addison, jr., president
"a tIiC 0CSulloy OdFlI6o q SOululCl@
cial Bank, recently injured in hunt |
ing accident, has left Emergency Hos
pital and is now at his home, where
he Is improving steadily.
National Bank of Washington stock
sold on the Washington Exchange yes
terday at $l26 q share, a new 1885
high mark. The previous high was
125 and the last previous sale was
made at l21. Yesterdays sale was
. block of "A shares.
w. j. Waller, vice president and
cashier of the Hamilton National
Bank, leaves here tomorrow for Chi
eago to attend a meeting of one of
the leading committees of the Ma
sional Bank Division of the A. B. A.
President Harper Sibley of the Ma
Aonal Chamber of Commerce is now
IN South America seeking ways of
stimulating this country's foreign
trade and looking for ideas on the
development Of agriculture.
The. American Bankers Associa-
ton executive council will hold the
annual Spring meeting at Hot Springs,
Ark, April 1921.