Evening star., 1939-12-29
Business Outlook
For 1910 Declared
Bright by Banking
Trade Expansion Seen,
But No Miracles
During Coming Year
BY EDWARD C. STONE.


solved domestic problems will keep
business from being too sure of itself,
but the 1910 blueprint is optimistic
and the reasons are not hard to find,
says the January issue of Banking,
official publication Of the American
Bankers Association, edited by Will
liam r. Kuhns.
The war has helped certain in
dustries and hurt others, but as far
as business in general is concerned
it does not make much difference
whether the conflict continues or
stops. It has been interesting to
observe how little the war has to
do with recovery up to the present
at least, the survey says.
On the bright side are many signs
of greater trade and industrial ac-
tivity discernible in price move
ments, favorable inventory position
of both manufacturers and distribu-
tors, volume of lending by banks,
broad scale operating plans in steel,
automobiles, building materials, farm
equipment, foods, oil. railroads, utili-
ties, aviation and metals, the survey
continues.
However, the survey cautions,
hopefulness is customary at this
time of year but the mere start of
a new year and decade will not work
any miracles.
Fifty-three per cent of 5000 bank
ers polled in November said that
business is getting better, 80 per cent
found conditions about static, and II
per cent reported a decline.
Banks in Fine Position.
Washington national banks were
in an excellent position on october 2,
according to the condition statement
Just made public by the Controller
of the Currency, covering national
banks all over the country.
On October the nine national
banks in the District had loans and
discounts amounting to SAB, ,626 900:
Government obligations totaling
S67,797 900: and other bonds, notes
and debentures amounting to $l0,-
3O5,OOO Assets totaled $230,035 900.
The nine national banks on that
date reported total demand deposits
of Sl26,063 900, time deposits OF in
dividuals, partnerships and corpora
tions amounting to SAT 100000, and
various other deposits which made a
total of s208,6420O0
The report showed liabilities, ex-
cluding capital accounts, amounting
to S2O9 ,148, 900; capital stock, S.
$4,000; aggregate surplus, S6,565 900;
undivided profits, s4,730000; reserves
for retirement of preferred stock,
$762,OOO: total capital accounts,
$2O,887, 900; and total liabilities and
capital accounts amounting 10 $780,
OBS 5000, Controller Delane's state
ment discloses.
c.. P. to Spend S930,O0O.
Expenditures amounting to over
$93O,O00 for construction of tele-
phone plant and installation OF
equipment in the District of Colum-
bia were authorized yesterday at the
meeting of the directors Of the
Chesapeake & Potomac Telephone
Co.. according to G. A. Robinson,
general manager.
About S776,OO0 will be spent IN the
day-to-day work of installing and
removing telephone equipment on
subscribers premises during the first
quarter of 1910, and $4,000 for ad-
ditional cable facilities in three sec
tions of the city.
The sum approved, Mr.. Robinson
said, brings the total appropriations
of the company for the year to a
little over $5,900000.
Directors of the Washington COM
pany are William w. Everett, Robert
v. Fleming, Edwin c. Graham, Gill
bert Grosvencr, John Poole, H. L.
Rust, jr.; John Saul, Merle Thorpe
Fred LAWS, Lloyd B. Wilson, Philip
o. Coffin and John A. Remon.
Couch Reports Bond Holdings.
Harvey C. Couch, chairman of the
board of Kansas City Southern Rail-
way and formerly an R. F. c. official
here, informed the Interstate Com
merce Commission that he owns
S4O5000 par amount of railroad
bonds in addition to substantial
amounts of stocks of the Kansas City
Southern, Louisiana & Arkansas and
other roads.
Mr. COUGHS rail holdings were
listed in an application filed by him
for authority to serve as chairman
and director of the Louisiana &
Arkansas while holding similar
positions with the Kansas City
Southern.
Mr.. Couch said he also owned 10(
shares of Kansas City Southern
per cent preferred, 100 shares Of
Kansas City Southern common anc
10 shares of Lehigh Coal & Naviga-
ton Co.
Bonds Offered in Capital.
Many Washington investment
houses joined in the public offering
today of S6O,0OO,0OO Louisville &,
Nashville r. R. collateral trust 312
per cent and per cent bonds, the
3l2s being priced at 101 to yield 33e
per cent to maturity in 10 years and
the As, due in 20 years, at lOl1a tC
return 1886 per cent. Early reports
indicated the huge issue was being
we'll received here.
John A. Reilly, president of the
Second National Bank, was re.
elected treasurer of the Community
Chest at a meeting of the Board o1
Trustees yesterday. Mr.. Reilly is ar
officer in the District Bankers Asso.
citation and chairman of the Speak
ers Unit.
The Commerce Department re-
ports that the dollar value of retail
sales of new passenger automobile!
for November was about 9 per CEN
larger than for November. 1888, anc
19 per cent above November, 1887.
Transit Net Over $4,000.
Net earnings of the Capital Transi
CO. in November amounted to $46,
$685., an increase of $40, ,369.9l owe