Evening star., 1936-10-01
BUSINESS ACTIVITY
/. BEST SINCE 1880
Recovery Curve to Continue
In Autumn Months,
Banking Predicts.
BY EDWARD C. STONE.


Banking, official organ of the Ameri-
can Bankers Association. says today.
Basic improvement has held its mo-
mentum, and the weeks ahead prom
Use higher production and consump-
ton levels.
It is significant to note as the Fall
season opens that recovery this year
has progressed without important in
terruption. Also the gain has been
well distributed among major Sec
tions Of the country's industrial fab
ric, the principal exception being
agriculture, which had to contend
with a serious drought, the review
adds.
There Is evidence that unemploy-
nent is decreasing and considerable
reason to believe that the actual
number of employables out Of work
is much below current estimates. In
creasing dividends of corporations
continue to give support to the mar
ket for securities and contribute to
the general optimism, although they
are largely influenced by the tax to
be imposed on undistributed profits
at the end of the year.
European events are disquieting, for
the possibility of more widespread
trouble between the two conflicting
theories of government represented IN
Spain's civil war is well recognized.
Rearmament, inf1ammatory speeches,
the restlessness of nations seeking
Territorial expansion and, more spe-
fifically, domestic unsettlement IN
France cast shadows on the future
and increase the difficulties of inter-
national economy. Nevertheless, for
sjgn affairs have not interrupted the
Srend of American business.
At home the election campaign pro-
eeeds along lines more or less tradl-
tional, and the issues are being care
fully canvassed by the politicians and
bv the voters. On the whole, busl-
ness appears to have been little al
5ected by the campaigning, the op-
Stmistic statement asserts.
Washington Gas Earnings OF.
Net earnings of the Washington Gas
Eight Co. in August showed loss OF
s64.e69, compared with a deficit OF
s24.22O in August, 1885, an increase OF
s4o.749 in the comparative figures, ac-
rording to the monthly report just
filed with the Public Utilities Com
mission. August is the poorest month
In the year in the gas business. the
month under review being no excep-
tion.
Net operating revenues of Sl4,4l9
for the month. compared with S44,65O
for August of last year, decrease OF
$50. O.231 rejecting the effect of reduced
gas rates approved December l6 1888.
Increased charges for retirement OF
property called for in the sliding scale
ARRANGEMENT and expenses incurred
in producing the larger volume OF gas
sold further account for this decrease.
The operating revenues OF the two
District of Columbia companies, after
anter-company eliminatlons, during
the first eight months of 1886, despite
the reduced rates, increased S253,876
over the corresponding period of 1885.
due to the greater volume of gas sold,
resulting in net income for the period
of 1854, 1863, a decrease below the first
eight months of 1885 Of sl73,280.
Georgetown Report Also Filed.
The August report of the George
town Gas Light Co., also filed with
the Utilities Commission, shows a
seasonal net loss of 1922, compared
with a loss in August, 1885. OF S5,243,
this being partly due to rate reduc-
tions and other increased costs.
For the first eight months of this
year the Georgetown company report
ed net earnings of $4,177, against
S6,318 in the like period a year ago,
@ decrease of $2,141. Operating
revenues were s58,340 better than
year ago, but operating expenses in
creased by over $4,000.
During the eight months period
ending August 81, 1886, the gas sales
Of the two companies were 6,647,-
375,000 cubic feet, compared with S.
e5l,1740 cubic feet during the cor
responding period a year ago, an in
crease of 1876 per cent. At the end
of August these two companies had
a3S,034 meters in service, an increase
over August of last year of Clio.
Hull Joins X. S. Wales Firm.
K. S. Wales & Co., Inc. announce
the election as vice president of Ed
ward S. Hull. Mr.. Hull was repre-
sentative of Bonbright & Co. from
1926 to 1881, while Mr.. Wales was
Washington manager for that firm.
During recent years he has been con-
nected with the National Sphere, pub
Eshed by the Whaley-E Eaton Corp.
K. S. Wales & Co., Inc, was formed
January !, 1886, with Kenneth S.
Wales as president and George A.
Watson as treasurer. They are men,
bers Of the Washington Stock Ex-
change and of the Investment Bank
ers' Association of America.
Financial District Gossip.
Harry P. White, assistant treasurer
1t the Northeast Branch of the Amer
ican Security & Trust Co.; Richard E.
Earris and Edward E. Swan, two other
assistant treasurers, located at the
Central Branch. have returned from
their annual vacations. The lure of
Atlantic City got all three bankers. d.
Charles w. O'Donnell, general agent
bf the Minnesota Mutual Life Insur-
Ance Co. in the woodward Building,
reports that new business written so
far this year now exceeds the total
amount of business done in the whole
Of 1885, rejecting a most gratifying
improvement in general business con-
Gitions in the Capital.
G. Elmer Father, one of the off,
c!als of the Union Trust Co., was re-
ceiving congratulations today upon
special honors carried of by his son
as member of the High School Cadet
Corps.
Bank clearings in Washington for
the first nine months Of this year to-
tailed $s23, ,686,615.13. against $677,-
64,302.27 O year ago In the same pc
riod, . gain so far this year Of $145,-
e22.31286.
Today's Trading on Exchange.
Canita1 Transit stock sold at 14X