Evening star., 1938-12-08
Bankers Optimistic
On 1899 Outlook
For D. {. Business
Recent improvement
Expected to Continue
Well Into Next Year
BY EDWARD c. STONE.

and fast from all over the country
the majority of which predict good
business year and in some instances
marked improvement over 1888 is
expected.
Financiers in the Capital point to
the Governments big pay roll and
insist that conditions here should
be more favorable than in most other
places. They point to the improved
conditions in the last half year,
favorable Christmas trade, check ac-
tivities. dividend announcements.
telephone service expansion and
building operations as more than
straws in the wind.
Prevailing improvement should
continue into next year for several
months at least. bank officials in the
Capital believe. One important
reason for optimism is the discovery
that the banks have done very we'll
in earnings during the past 70
months. In spite of the fact that
many banks had lot more money
than they could use to advantage,
the net returns are better than had
been expected.
Bankers have watched their eX-
penses closely during the year and
at the same time kept keen lookout
for new avenues for loans. One
banker said today he believed next
year would be better than 1888.
That. he added will mean pretty
satisfactory business. In stating
that too much improvement in bank
earnings should not be expected, he
cited the recent statement of Philip
A. Benson. president Of the Ameri-
can Bankers Association, who de-
clared that the days of extra big
profits for banks are over.
Washington is to witness a great
deal of home building in 1899,
rumors of a building boom being
heard frequently. These reports are
gratifying to the banking fraternity.
Some officials. however, caution that
houses should not be built faster
than they can be sold.
w. r. & E. Declares Extra.
Directors of the Washington Rail-
way g. Electric Co. have declared
an extra dividend of Sl4 share on
the common stock, it was announced
today. The dividend is payable De-
cember 20 to stockholders of record
December l3, the notice said. The
$14 extra is the same as was paid
last year at this time and brings
total dividends for the year up to
$50 a share
Directors have also declared the
regular quarterly dividend of SIPS
a share on Washington Railway &
Electric preferred stock, payable
March l to stock of record Feb
ruary Is.
Directors of the Potomac Electric
Power Co. have voted the regular
quarterly dividend of Sl50 a share
on the 6 per cent preferred stock
and the regular quarterly of S1.3712
per share on the 51s per cent pre-
ferred, both payable March l to
stock of record February Is.
Dividend and Bonus Voted.
Directors of the Second National
Bank at their December meeting
declared semi-annual dividend of
2 per cent on the capital stock, pay
able December 81, to stockholders of
record December 20, President John
A. Reilly announced today.
The directors also voted Christ
mas bonus to be shared in by all
employees at the G street and Seventh
street Offices. The amount was, ar
ranged on a sliding scale based on
length of service. 1t will be paid at
once. This was the fourth disburse-
ment of the kind reported by banks
in the city in the past four days.
Safe Deposit Experts Meet.
Twenty seven members of the
safe deposit section of the District
Bankers Association attended the
joint annual meeting with the Bal
timore Association in Baltimore
Tuesday night. This was the largest
delegation which has ever attended
the Baltimore conclave. Headed by
P. c. Brady, chairman OF the Sec
ton, Washington banks were repre-
sented by the following:
T. E. Elgin, Miss Eva Kicker, R. E.
Harris, Harry P. White. Hans Ire
land, Mrs. Margaret Fisher, Miss
Martha Davis, Mrs. Jean R. Haig,
Mrs. Aileen Weatherly. John P. Bal
ster, James B. Ahalt, Miss Helen
Clark, William Curtis Cooper, Guy
Cawl, William Mcclure, Albert E.
Fisher Miss Hazel c. Smith, Miss
Mary w. BraWner, Charles w. Haas,
Mrs. B. Walton Rhine, Miss Edna
S. Davis, Miss Margaret B. Hayes,
Jesse w. Cheyney, Claude Miller,
Norman Bell and Miss Sophia Kary-
dakis.
Johnston Talks on Listings.
James M. Johnston. president of
the Washington Stock Exchange, is
in New York today for a conference
with heads of the New York Stock
Exchange on stock listings. For
some time the Wall Street Exchange
has been seeking ways of increasing
the number of listings on the big
board by adding some Of the issues
on the smaller exchanges.
Many of the smaller exchanges
have bitterly opposed the plan on
the ground that it would hurt their
business. officials of several eX-
changes have already entered vigor-
Gus protests in New York, notably
Philadelphia and Boston.
Building Associations Grow.
Washington building and loan
associations have enjoyed steady
growth in assets during the past
year, according to review just
distributed by the United States
Building and Loan League. Perpet-
ual is still the largest association in
the whole country.
The oldest association in the city,
Oriental Building. still maintains its
position as sixth in point of size, with
resources of $6,125,15S Established
in 1861, Oriental is followed in age
by Metropolis Building, founded in
1866, now in seventh place, with