Evening star., 1937-09-01
FAVORABLE TREND
FOR FALL HAILED
A. B. A. Journal Sees Some
Upward Movement in
Other Nations.
BY HAROLD b. ROGERS.

BY HAROLD b. ROGERS.
The outlook for business for the
rest of this year was characterized
today by Banking. the official journal
of the American Bankers Association,
as favorable" The same forward
trend was said by the journal to be
evident abroad
People and governments, the re-
view points out, ARE in a spending
mood, and there is no immediate
likelihood Of any change in this re-
spect War and the fear of war;" it
is declared, "can hardly be called
good for business, in any sense, but
the fact stands out that rearmament
purchases are playing vital economic
role throughout the world There
are many points of resemblance be-
tween recovery here and abroad, but
there is one chief difference, namely,
that our Government is still sup
porting millions of citizens through
relief and work projects"
Bank Loans Still Lag.
Discussing credit demands, the
journal says: The demand for bank
credit continues to show promising
trend, but still lags far behind the
supply. Whatever increase there has
been thus far has not been enough
to affect in any degree the general
level of interest rates. The antici-
pated expansion Of commercial and
industrial activity this Fall will cer-
tainly bring an increased demand
for loans and a higher volume of
new security offerings.
There are ample reasons for op-
timism regarding the immediate fu-
ture and If some solution could be
found for the unbalanced Federal
budget. swollen relief rolls in a pc
riod OF relative prosperity, the ex-
pensive process of taking gold out
Of world circulation and the ultimate
problem of paying the freight with
out ruinous taxation or currency de-
probation, all would be we'll"
1. B. NJ. Holds Contest.
International Business Machines
Corp, with an important plant here
in Washington, is holding world
headquarters contest among the COM
pany's salesmen throughout the world,
to dedicate the companys new world
headquarters building at Madison ave-
1ue and Fifty-seventh street, New York
City. Other plants of the company
are at Endicott, N. Y, and Rochester,
NJ Y, in the United States, with
foreign plants in Toronto, Canada;
Sindelfngen and Berlin, Germany;
Paris, France; London, England, and
Milan, Italy. It has branches through
out the United States, and the
products, according to company re-
ports, are used in 79 different countries.
In an address to the convention of
New York sales and headquarters staff,
Frederick W. Nichol. vice president and
general manager, declared today that
changing social conditions and the
increasing value of time have now
created the greatest demand for busl-
ness machines that the world has ever
seen" Thomas j. Watson, president
of the corporation. predicts that in
the near future their foreign business
will equal their American business.
The company announces new all
electric writing machine specially de-
signed for producing reverse master
copies used in liquid hectograph dupli-
eating machines. 1t is to be known as
the International Electric Hekto-
Writer
Foreign Trade Watched.
The Guaranty Trust Company of
New York says that developments in
American foreign trade have taken on
a new significance in the last several
months with the unprecedented mer-
chandise import surplus during pc
Rod when, despite numerous adverse
;ituations, recovery in most nations of
the world has been expanding.
In a statement published in the
Guaranty Survey the company de-
;lares that mot only have normal re-
cuperative forces stimulated industrial
activity throughout the world in the
last few years, but more recently
large-scale armament programs in
many foreign nations have contributed
an additional impetus to general busi-
ness activity and created a demand for
large quantities of import commodi-
ties
Personal Mention.
William D. Hoover, chairman of the
4f Not, e. ,cf
Co., has returned after a six weeks
vacation in New Hampshire.
David Bornet, vice president of Ma
tional Savings g. Trust Co., has re-
turned after motor trip to New Eng
land. William B. Willard, vice presi-
dent of the same company, is on va
cation with his family at their Sum-
mer home at Walpole, N. H.
r. H. Lacey, cashier of Columbia
National Bank, has returned from va
cation at Colonial Beach.
Earle M. Amick, assistant vice pres
ident of Riggs National Bank, has
returned from a vacation in Canada.
j. r. MCMILLAN, assistant vice presi-
ident of Riggs National Bank, is back
at his desk after vacation in North
Carolina.
c. j. Gockeler, assistant vice pres
ident of Hamilton National Bank
has returned from vacation at Vent
nor, N. J.
D. c. Exchange Active.
Liveliest activity in several weeks
marked trading on the Washington
Stock Exchange today as the month
opened. Capital Transit sold at 10ss
Potomac Electric 6 per cent preferred
turned over at ll3, and the 512 per
cent preferred of the same company
sold at Ill.
Washington Gas Light preferred
was out again. with price Of 1924,
and Gas SIS, 1860, sold at 114A
Chew Chase Club 4LS went at 1041a