Evening star., 1915-06-12
National City Bank Branch.

National C1CV odlih
The National city Bank of New York
has opeaed a branch bank III Santos
Brazil for the furtherance of the south
American business.
In addition TO transacting regular
banking business, this branch Will mann
tain a commercial department to adVo-
cate purchases of American goods anu
create sentiment favora bic thereto.
The National City Bank was the hrSl
to invade the South American field, ana
has probably been more effective IN VIII
ming a share of trade than any other
Institution or method used.
American merchants and manufac-
turers may find this branch bank avail
able in negotiations. More National city
Bank acceptanceS are certain to ne OF :
fered in the American market as result
of the branch being established at Santos
Bank Clearings.
C1earings for the United States for the
week ended last night aggregate S2.6Sl.-
sl1.79s, an increase of ) per cent over
the cIearings for the same week last year.
Outside of New York city the clear
ings were s9s1.533,114. showing a 80
per cent increase. Baltimore, Mime
apolis and New Orleans show the great
est loss. while Boston. Kansas City,
Cleveland and Philadelphia show gains.
Treasury Condition.
The condition of the United States
Treasury at the close of business yes
terday was:
Net balance in general fund, s17.7So.-
s31
Total receipts, s2.215.SI3.
Total payments, s2,993, ,59n.
The deficit this fiscal year is s1O2.-
d64.S4s against deficit of s33.2441ss
last year. exclusive of Panama canal
and public debt transactions
Financial Notes.
On the present gold importing move
ment sa4ooo.0oo has been received
from abroad so far this year, the latest
imports being $1,000. 900 received from
Canada yesterday and 100000 from
Japan. ,...
The Cambria Steel Company and the
Pennsylvania Steel Company are about
to be consolidated. H c. Frick con-
trolls the former and holds an option
on the stock of the latter, held by the
Pennsylvania Railroad Company
Chandler Bros & Co. of New York
have purcnasedf as an investment, 1000
shares of Cramp Shipbuilding Com
pany's stock. This greatly reduces the
floating supply of stock and trends to-
ward the eStd biiShment of higher
prices.
Norfolk and Western Railroad Com
pNny will complete its fiscal year as
all roads do. with the month of June
and is expected IT, earn about SO per
cent on its common stock. requiring
surplus after fixed charges. of $4,000
600. Earnings are the same. practical
ly as in 1914 and / iIz per cent off from
the showing of the fiscal year ended
June 30. 1872.
For the quarter ending March 81, New
York Central showed deficit. after
charges. of s2ol. 1s3.
The Atlas Powder Company has pur-
chased the Aetna Powder Company of
California. one of the oldest of the pow
der manufacturing concerns. The capt.
naming at So 900, 0hd, no bondod debt
The purchase price was 10, for 81 per
cent of the stock.
1t Is expected that the American Can
Company will have the best year in it's
history. The street feels that the cor
poration stands good chance of win
ming the suit started against il under
the Sherman law Moreover on REQUIRE
ments OF domestic trade and execution
OF war orders. the plants of the company
are operating to full capacity
Victor Talking Machine Cornpany has
tust declared regular dividends Of 1at
per cent on the preferred and 5 per cent
on the common shares. with an extra
distribution Of 10 per cent on the com
mon shares
Stock in the Ford Motor Companv o-
Canada, selling for 5000 share two yesrs
ago rose TO $500 In January. and 81 D0a
snare mas just been refused BY hold
ers