Evening star., 1915-03-16
GOOD BOND BUSINESS
ON THE LOCAL EXCHANGE
Capital Traction IS Are Wanted at
106-Sale of Georgetown Gas IS
Made at 100 1.2.
Bankers Propose Daily Clearings for
Refused" ChecksSouthern Ry.'s
Gross Earnings Better.
BY I. A. FLEMING.

BY I. A. FLEMING.
There was q decided improvement IL
tn. demand for bonds at today's ses
sten of the stock exchange. In al
Sli.3'", bonds, face value. were record
"a ON the sales sheet. One sale that
attracted considerable attention be-
,amse of the long interval between this
and the last previous transaction was
that of a Georgetown Gas 5 per cent
BOND at 1ooh. One United States cou-
ION ) ner cent was also sold, this at
1918
Capital Traction So were responsible
ior much of the activity. and the price
rose to 1o6. Washington Railway and
Electric As brought SOS and 81, and a
.lve- -hundred-dollar bond sold at 81 q.
In the stock list the only feature was
The apparent strength of Washington
,;as small sales, the price advanc-
lng to 73 and 73A. A little Railway
preferred sold at 81.
Treasury Statistics.
of the United States for March 13 ex-
ceeded the disbursements by $646,533.
making the excess disbursements for
tho fiscal year to that date s1o5, ,1os,ess.
a compared with excess disbursements
Of s4e,743,43S for the previous fiscal
year to the corresponding date.
Correction.
In the table of deposits of Washing
ton banks. published last Friday.
March l.. the deposits of the Potomac
Savings Bank were given as s630,0oo.
They should have been $640,0o0. The
decrease in deposits since the report to
the controller as of December 81. 1914.
was reported as S12,657, when it was
only S2,9l3-
Clearings for Returned Checks.
A special meeting of the Washing
ton Clearing House Association will
he held Saturday. March 20, at
O'Clock. for the purpose of considering
~" amendments to the constitution
red bylaws of the organization.
t'u. amendment provides for daily
y ;tring for returned checks" There
IRE Il large number of these checks
paid through the clearing house every
business day, and refused by the banks
ur"n which they are drawn. At pres
eat runners take these checks around
- the different institutions in the aft
"rn"on and a refund is made by the
n,nk in which they were deposited
Cunt of the depositor
II is now proposed to have messen-
-ers from all banks gather at O'Clock
IN all business delays but Saturday, when
ne rIearings vii! be an hour earlier.
'hechs refused for any reason, and
here may be a dozen, in addition to
the chief complaint. mot sufficient
tnrds, will then be exchanged and
'iue bills given to banks having cred
IS, which will be collected through
lie clearings on the following day.
II is generally understood that the
aajority of members of the association
.sre in favor of this measure, as mat
fer of convenience and economy. a
uessenger going to one place instead
to all banks on which refunds are
70 be collected.
The second amendment has to do
IN bank examinations. 1t is pro-
.'vSsd 10 appoint a committee on ex-
nInation. which shall have the right
T" examine any member bank, and the
.' pert OF the committee. in writing,
'Iau he handed TO the chairman of the
'"use. otherwise being strictly conf
'"utial. Any member bank refusing
Fl" permit an examination when notified
rat the committee desires to make
ono is expected to withdraw from the
~Sociation. 1t is also provided that
-Irther evidence as to soIvency NAV be
.pusidered. proba bly, with intent to ask
-ur controller of the currency for hts
taniners report on any bank that
= be under consideration.
Bankers Association.
lie committee to revise the constitu-
ton and bylaws of the District Bankers
A-sociation has found that the bylaws
rpvide for examinations of member
naaks by the associations examiner. AS
mis- has been d dead letter since it was
.
''tEnnittee VII ask that 1t either be en-
f"fced or eliminated, and some action in
lis line Will be taken in the near future.
Financial Notes.
Percentages of loss in gross revenues
for the southern railroads are begin
ing 10 show distinct Improvement
southern railway for the first week in
p-cember. 1914. showed a decrease in
ross earnings of 2l-6 per cent: for the
3"8rth week in February the decrease
"as but Ill per cent. comparisons be-
'us made with the corresponding weeks
~ the previous fiscal year. Louisville
Fnd Nashville showed decrease in
-r"s- of 20; per cent for the week
eHding December /, and but 13.7 per
eat for The fourth week in February
New York State bonds are being Of
''red by the syndicate that recently
acquired a big block. at l04I., they
Hear 4 4 per cent interest.
Cold coin 70 the amount of s25oo,oOo
rom OTTAWA, Canada. was engaged
sesterday: $500, 900 was engaged In
f'EIna for New York and another
>tgy,bhO order is being filled in Ottawa
The Brazilian government. following
precedent OF other foreign govern
f.ents. Is seeking a slo,0oo,0Go loan in
rhe United States
Readings surplus for seven months
ended with January was s4236245 as
crmpared with s5.459.s9 for the corre-
spending months of the previous fiscal
YEAR.
Railroads of the United States have
placed orders for T30 cars SO far this
month as against 1000 for the same
period last year. Locomotive orders
from the Baldwin, works total fifty, as
compared with PCS a year ago to the
same date
New York bank clearings yesterday
showed a satisfactory increase; ali
other central reserve cities a decrease
Eries operating income for the seven
months ending with January Increased
&20l. 100
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