Evening star., 1936-06-21
CLEAR|NGS EXCEED
TRADE GAINS HERE.
DURING LAST WEEK
Check Total 29 Per Cent
Higher Than Year Ago,
Review Reveals.
RETAIL DEALERS AWAIT
BONUS EXPENDITURES
Business Optimism Held Justified
by Credit Experts-Bankers
Off to Rutgers.
By EDWARD C. STONE

trade in Washington during the last
week we're reported yesterday by the
Department of Commerce, 2.5 per
ent advance over the previous week
and a per cent upturn over the same
1885 week. This was a narrower gain
than in many other recent weeks,
indicating that the bonus payments
have not yet become much of trade
factor and also that the Summer busi-
ness lull is approaching. Bonus pay
ments are expected to filter into re-
tail channels shortly, however, and
prove a notable stimulus to sales
volume.
Washington bank clearings scored
o gain of 20 per cent over the same
week in 1885 and advanced 81 per
cent over the preceding week. Value
OF building permits took sharp tum-
BILE from the previous weeks high level
of Sl,571 900, which included two large
apartment houses costing 100000.
They we're also 25 per cent under the
same week year ago, when the total
also included two large buildings.
Tourist activities also showed let-up.
Despite some slackening, Summer
merchandise moved in good volume all
over the fifth district. Both bank
debts and bank clearingS were ahead
of the corresponding week year ago.
Baltimore reported trade expansion
centered largely in Summer clothing,
graduation gifts and vacation goods.
Wholesale trade remains better than
a year ago. An increase in employ
ment on permanent basis by private
concerns is reported from Charleston,
S. C. Cotton sales are heavy, with
prices rising.
Business Cheer justified.
The latest national review received
by the Washington Association Of
Credit Men states that business con-
fidence is generally better than it was
a year ago, mainly because the upturn
has been along a broad front. Sta
tistically. there is justification for cur
rent optimism and the payment of the
soldiers bonus plus the improvement
in the farming sections will keep a
consumers market of large proper
tions active during the coming
months, the survey declares.
The review cites gains in steel opera
tions, electric power output, auto, coal
and oil production, banking clearings,
department store and chain store
sales and fewer business failures are
high lights in the present situation.
The survey concludes:
And finally, employment in the dur
able goods industries is growing while
consumer goods industries employ
ment is less than 10 per cent below
the 1923-25 level Pay rolls in the dur
able good industries are considerably
greater and in consumer goods lines
there has also been slight rise over
last year at this time. This insures
potential purchasing power
ID. C. Bankers Off to Rutgers.
Eleven Washington bankers will
leave the Capital today to be present
at the opening tomorrow of the 1886
session of the Graduate School Of
Banking at Rutgers University.
The formal opening of the Summer
session will take place tomorrow eve
ming, when Robert V. Fleming, presi-
dent of the American Bankers ASSo-
citation, will be one of the guest speak
ers. 1t was reported several days ago
that 400 bankers, all the school will
accommodate, have registered for the
session.
The Washington delegation will in
clude r. Earle Haycock, Kenneth F..
Brooks, H. T. Bisselle, Riggs National;
George M. Fisher and Ralph Endicott,
Washington Loan g. Trust Co.; Rich
ard A. Norris and j. Frank Rise, Lin
coin National; w. L. Sanderson, Ham
tlton National; John c. Baumann
Charles T. Malone, and Andrew w.
Lee, Federal Reserve Board
Institute Members Return.
Members of Washington Chapter,
American Institute of Banking, have
reached home from the Seattle con-
Vention. In the party from here were
T. Hunton Leith, Paul j. Seltzer, Will
liam H. Laughlin, J. Earle McGeary,
I. j. Roberts, G. Elmer Flather, Rob-
ert G. Whitton, and G. Crawford
Turnbull. They declare the national
convention the best ever held and re-
port grand trip to the Coast and
back. AS already noted, several men,
bers of Washington Chapter were ac-
corded special national honors in COM
mittee appointments.
Trading on the Washington Stock
Exchange at the end of the week was
quiet, with $1,000 Capital Traction SIS
selling at 90& and Potomac Electric
Power 512 per cent preferred stock
coming out at ia. Other quotations
were firm. Capital Transit paid no
attention to the report that the COM
pany is going to ask for higher fares
and abandonment of the so-calIed
passes which are now sold for ST and
$l.25. The stock showed little more
strength during the week. selling at IA.
Bankers in the Capital are to get
an extra holiday this year, a present
from Congress. December 26, the day
after Christmas, comes on Saturday
Some weeks ago the bankers here de-
cided that it would be a good idea to
remain closed on that half day. The
matter was taken up by the District
Bankers Association, favored and re-
quested. Congress laid aside the tax
bill the other day long enough to
grant the request Now the banks
will be closed from Thursday night to
Monday morning. December Is, 26
and 81.