Evening star., 1937-12-20
LIVELY BUSINESS
IN 1888 FORECAST
Credit Expert Declares
Earnings Will Be Good,
Even if Under 1897.
By EDWARD C. STONE.

1VOII " OiIuCI ISS1s
By EDWARD C. STONE.
In his monthly business review re-
ceived today by the Washington Asso-
citation of Credit Men, Henry H.
Heimann, executive manager of the
national association, predicts that 1888
will be "far from an unsatisfactory
business year"
Predicting that the early months of
1888 will seem dull compared with the
feverish activities that characterized
the beginning of 1887, he forecasts
that earnings in 1888 on the whole
should be satisfactory even If they
do not reach the totals of 1887
Business men must realize, he con-
tinues, that in at least one out of
every five years efforts should be
centered largely on conserving capital
as distinguished from seeking to in
crease capital.
The year 1888 will see an abundance
of credit at exceptionally low rates.
AS result of excesses in 1887, there
may be an increase in failures during
the first half of 1888, but this should
level off later in the year, he believes.
He tells Washington credit men
that the real need at the moment is
an immediate stimulation in three
lines of industry. The first is the
railroad industry, which needs in
creased income for equipment buying
and maintenance programs
O SotfcfQ
Of the Government-u utilities impasse
and the third helpful factor would be
an upturn in housing operations. The
latter is on the long-range side, but
would be felt before the end of next
year if Congress would act at once on
special legislation, Mr.. Heimann
concludes.
Building Report Shows Turn.
Bankers and real estate leaders here
were much pleased with the latest re-
port by the F. w. Dodge Corp. that
construction projects undertaken in
November were 20 per cent ahead of
October and per cent ahead of last
year. This report, the survey said, rep
resents a reversal of the declining
trend in publicly financed construc-
ton, which had been prevailing since
last July
Total contracts for the first II
months of 1887 amounted to S2,703,-
672 400, as compared with S2475,6 $780,
900 for the corresponding II months
of last year, representing a gain of 9
per cent. When segregated by classes
Of construction, this gain amounted to
II per cent for residential building,
10 per cent for non-residential build
ing and 38 per cent for public utilities
Construction of public works during
this period declined 20 per cent.
Air Conditioning Finished.
Installation of a complete year.
around conditioning system in the
new marble office building of the Fed
eral Reserve Board was announced to-
day by L. r. Boulware, vice president
and general manager OF Carrier Corp,
Syracuse, N. Y.
The installation marks another step
In the chain of air conditioning Gov
eminent buildings in the Capital.
Other ir-conditioned buildings he
listed are Supreme Court, United
States Capitol, House of Representa-
tives, United States Senate, Depart
ment of Labor and Interstate Coms
merce Commission.
The equipment is designed to pro-
vide summer, winter, fall and spring
comfort, Mr.. Boulware explained.
Depository Proves Popular.
President George W. White of the
National Metropolitan Bank is much
pleased with the reception accorded
the instantaneous depository which
was installed in the lobby about a
month ago. Use of the depository,
which is intended to be time saver
for the patrons, is becoming more and
more popular, he said this noon
The depositor takes or sends his
money to the bank in an envelope,
with the ticket all filled out The
envelope is put through a slide, just
as one would mail letter. and drops
down into a safe. The amount of the
deposit is credited to the patrons ac-
count and he receives notice to this
effect in the next mornings mail.
The plan, of course. is used by de-
positors who do not need to get
change from the tellers and is said to
be particularly helpful on Govern
ment pay days, when there are long
lines at the tellers' windows.
Trade Sentiment Improving.
Despite the continued downtrend of
Industrial activity, business senti-
ment during the past week or two has
taken a turn for the better, says the |
United Business Service in its current
report. Contributing factors are the
Unexpectedly good showing being
made by retail trade, the moderate |
rally in security prices and a f1rmer |
tone in principal commodity markets. |
Aided by the pickup in holiday buy
ing, most retailers are making good
headway in reducing surplus inven-
tories. Fill-in orders are heavier, and
buying of early spring goods is gaining
impetus, although emphasis continues
to be on low priced quick turnover
merchandise
Regular Dividend Declared.
Directors of the Terminal Refrig-
Grating & Warehousing Corp. have de-
clared the regular semi-annual divi-
dend of $3.50 per share on the out
standing stock, payable December %,
to stockholders of record December l8,
Secretary j. P. johnson announced
today.
Final arrangements have been made
Tor the first annual Christmas party
Of the Hamilton Bank Club to be held
Wednesday evening ats the Columbia
Country Club. A full program will be
enjoyed by the Hamilton Banks entire