Evening star., 1937-12-11
Farm Buying Power Stressed.

Whether the present temporary
check in business will be of long dura-
ton depends on maintaining buying
power near prevailing levels, accord
ing to the monthly survey by the
American Federation of Labor. The
statement adds:
Consumer buying power is of three
kinds: Cd Wages and salaries, which
will probably amount to about SAT-
0o0,o00,000 this year; (20 investors
income - dividends, interest, rent -
about O0o,00o,000; 90 profits of
business men and farmers, probably
about S12,000,000
In the next six months we need ex-
pect little change in the total amounts
paid out for dividends, interest and
rent; profits of business men may de-
cline temporarily but this years in
crease in farmers income will help
to compensate, for farmers will spend
their 1887 income in the months just
ahead, the survey asserts.
Christmas Clubs Growing Fast.
The 1888 Christmas Savings Clubs
In some 20 Washington banks are
growing by leaps and bounds. TOO
fast" said one banker today, who is
only lukeWarm on the club idea, be-
cause the members crowd the lobbieS
so much on payment days.
A survey of the banking district
indicates that quite good many more
subscribers have joined the clubs this
t,S h1 ~f
days a year ago. The amounts sub
scribed are about the same as last
year, in some cases not quite so
much. The fact that no interest will
be paid in the 1888 clubs seems to
make no difference in new member
ships.
Most of the new accounts are for
larger. In one bank the other day
patron opened two $500 accounts.
Then he took out his checkbook and
paid for both in full. Said he wanted
that amount of money at the end of
1888, and the club membership was
one sure way to have it. A fine ex-
ample of thrift and foresight.
Railroads Keep in Limelight.
With the Nations leading railroads
remaining in the light because of
their appeal for higher rates, assem-
bled by Research and Administrative
Corp, are specially timely.
Ninety-six railroads are in the hands
Of receivers, 36 of them class l lines
operating 10000 miles of track. Due
to rising cost of materials, supplies,
fuels, taxes and wages, railway op-
GRAFTON costs in the United States
are now running at the rate of al
most $685., 100000 a year more than
in 1888. Although the land areas
and population of the United States
are less than per cent of the worlds
total, this country has 80 per cent
OF the worlds total railroad mileage.
An order for $4,000 tons of rails and
accessories amounting to more than
$250,000,000 has been placed by a
group of Southern railroads. The
Pullman Co. recently filed a petition
with the Interstate Commerce Com
mission for general increase of 10
per cent in sleeping car fares. Glass
l roads in October had a net operat-
ing income of $50, 700, 900, which COM
pares with almost $9O,OO0,0O0 in Oc-
tober, 1885. drop of 32.4 per cent,
according to report by the Associa-
tion of American Railroads.
Financial District Gossip.
Stock Exchange brokers say the
proposed higher commission charges,
If adopted, will not prove a severe
burden to traders and investors. In
cases where the present charges. for
example, may be II cents a share,
the higher rates would be only about
13 cents share. Talk of an increase
of II per cent is not as startling as
1t first appears, brokers assert.
A firm tone in Government and
high-grade corporate bond prices will
be evident in the first half of 1888.
due to easy money and the pressure
of idle funs seeking safe investment,
United Business Service predicts. The
trend after midyear may be down.
ward, the forecast says. in taking
this long look ahead.
y, The Treasury Department an
nounced that money in circulation
during November totaled $6,561 $780,
.3sl, compared with $6,555, 101 1863 for
the previous month. Money in circu-
lation per capita for November
amounted to $50.63, compared with
E5fl Al for October