The Washington times., 1913-01-04
COMMERCIAL BANK
TO PAY EMPLOYEES
!SHAR|NGS
Announcement of 4 IL Per
Cent Distribution Made
This Afternoon.

! The CLERICAL IpfCe Dl llt NOhiAiSi Sidi
| National Bank was made glad this af-
| ternoon when the thirtS.hve maie
members were Informed by the oihcsrs
| that they would be recipients of checks,
| under the bank profit-sharlng pian
| amounting TO AZ per cent OF thelr an
! nual salaries, Il 50 per cent increase
! over the distribution of last year. The
| amount TO be distributed, while not
made public, is said to be several thou-
| sand dollars.
The clerical force. with the exception
of the women, who will be given
theater party next week. were @ guests eSe
menced at l:30 o'clock this afternoon
| AT the Commercial Club. w. A. III.
| Church. chairman of the board of di-
rectors, presided. and all of the ofhcers
were present. \. G.. Clapham. presi-
dent: E!dridge Z. Jordan, five vice
| president: n. II. Shea, second vice
president: Tucker X. Sands, third vice
president; John Poole, cashier. ana
Herbert V. Hunt, assistant cashler:
| a number of the members OF the boaru
also attended,
One-sixth of the entire population OF
the District of Columbia are now de-
positors in the United States Trust
Company. The number of accounts now
on the books of the company is over
s.. 900. This huge total has been brought
IN by the addition in the past week OF
between % 600 and 23,0oO accounts IN The
christmas savings d sso o .oha Sas tIs aIso been @
deposited in this fund, and the officers
of the company estimate that the total
disbursements to be made next Christ
mas will be between $4,000 and $600vOc,
or more than double the amount of the
savings distributed last month. The
number of depositors Is nearly double.
THE most popular savings feature L
have ever heard about, Is the enthusl,
astic way in which an official described
the Christmas savings club.
Washington's bank clearings for the
week ended January show an increase
of a0.7. per cent, as compared with the
SHrTespondiDG srs week e suS year RsSmohds aso
clearings were almost the some, rs, 49,
600, but the Virginia city's increase was
at the rate of 4S.l per cent. Bank clear:
ings in the United states aggregated
S, ,05s, 800. coo. as against G,s2b,S ,Sss.o0o the
corresponding week a year ago.
Activity in Washington Gas shares
was the feature of the meeting of the
Washington Stock Exchange today.
Starting with the sale of four small lots
of the stock at IS. quotation lot sold
at an eighth less, another at still an
eighth less. and then three quotation
lots sold at s5as. three-eighths less than
the first price. Offering at the last
out any more trading. .
A quotation lot OF Railway common
brought $50. but further offering to buy
or sell at the same price brought out
no stock. ,
The trading was in good volume to-
day, except for the bond list. Fifty
shares of Citizens Savings Bank stock
sold at y.
There was large increase Of busi-
ness failures in the District of Column
bia last year, as compared with the
year 1911, according to r. 6. Dun d
Co. The number of failures was eighty
nine, as against fifty-two In 1911, and
the liabilities reached ss67, go in 1912, as
against s665,556 in 1911
In the whole country there were 1852
failures during the year, which, with
one exception, is the largest number re-
corded since 1893; the exception was in
1905 following the panic of 1907, when
there were 1850 defaults. During 1872
there were about ZOO more failures
than in the preceding year. and this.
antagonism to the plain evidences OF
agricultural and industrial prosperity
and mercantile activity during the year.
The increase in the number of defaults.
however, must be compared with the
number of concerns, individual or cor
poTate. engaged in business, and the
number of such concerns expands
every year and is now greater than ever
before recorded. This comparison shows
that the percentage OF failures in 1912,
while considerably larger than in the
preceding three years. Is by not means
unprecedented, having frequently been
approached and exceeded In the past
Still, IL is about the average of what
may be termed good years.
OF the total number of failures for
the year. 1882, with liabilities of $203.-
7,3g1. the manufacturing division re-
ported 1883 suspensions as against 3,J02
the year before, $3.50 in 1910. 5000 in 1879
and 3,8g7 in 1908. This somewhat un-
"a ,ls1acIory showing as to number
however. is partially offset by slightly
more favorable comparison of liabili-
ties which aggregated SS6, 7l9.s32 a.
against SS7,37i, ,623, SIS, ,9l6SS5, s6i, IN, ,5iS
and SCI. So. .0l5, respectively, for the pre-
vious four years.
The showing for the banks is better
Banking failures were only seventy-nine
last year. as compared with 101 in 1911
and the liabilities decreased from 49,
81. COS in 1911. TO 81, i,2l9.522 in 1912.
The statement of business failures and
liabilities by geographical sections is
as follows: