Evening star. [volume] (Washington, D.C.) 1854-1972, 1916-02-12
CHARTER IS GRANTED
FOR DUPONT NATIONAL
New Institution, With 100000
Capital, Will Open for Bust
ness Monday.
Final Installment Of Tax Funds
Will Be Returned by Bankers
Tuesday-Big clearings.

Final 40StallueuI OIL AoA oAAsAS
Will Be Returned by Bankers
Tuesday-Big Clearings.
BY I. A. FLEMING.
The controller of the currency this
morning granted charter Tor the
Dupont National Bank. and the institu-
ton will be opened for business Mon
day morning in the banking rooms
formerly occupied by a branch Of the
United States Trust Company on Con-
necticut avenue just south Of Dupont
Circle.
The capital stock of the bank will be
100000 and the building and realty
have been acquired as a permanent
home for the institution.
Ezra Gould, who as president OF the
Washington Mechanics Savings Bank
has made an enviable record, promoted
the Dupont National and will be its
first president. He found the matter OF
raising the necessary capital easy OF
Accomplishment, quite NUMBER OF
district being associated with MIN IN
the new enterprise.
The bank building was ready and
waiting a tenant. 1t is almost new
date, with storage vaults for silver and
other valuable in the basement ana
two well rented apartments over the
Mr. Gould and his associates will
keep open house Monday from am:
to 8 pm, in honor of the opening OF
The officers of the bank are; Ezra
Gould. president: Arthur Bradley
Campbell, vice president: George a.
Sabertson sec eash elee apd r. Barry
The directors are A. 3; Campbell. Ep-
Cushman. J. Henri de Sibour. C: A. Gar
rett. Melville Gillett, e. q. Gould, F. 81.
Ridgway. Hugh B: Rowland. T. X.
II. Westeo on ". D. wilcox and Edmund
S. Wolfe.
Last Tax Repayment.
Tuesday the national banks Of Wash
ington will make the last repayment to
the Treasury Department on account Of
the $4,000. 000-odd tax money placed
with the banks in the spring Of 1915.
The installment will call for more than
100000 and the banks will make the re-
turns without regret as they have more
money on hand than they can employ to
good advantage.
Perhaps there may be some slight re-
grets at the return Of the funds. as some
Of the bankers feel that there is a pos
sibility that the Treasury Department
may decline to place the usual quota
Of tax money with the banks next spring,
as 1t has been more difficult to secure the
redeposit with each year.
Clearings Continue to Increase.
Clearings Of all large cities. rejecting
the continued activity in business, con-
tinue to show steady increases This week
the clearings are $3.72s,42s,045. an in
crease Of 46.7 per cent. as compared with
the clearings for the corresponding week
Of 1918. and SO per cent increase in COM
pasi.oE with the eisarinss OF the CORE
Despite the let-up in activity In the
stock market the clearings of New York
city were tar in excess of any previous
made outside Of New YORK city ai Ie,ns
New York Stock Market.
More than the usual variety Of de-
velopments. foreign and domestic. con-
sional trading of the week. Prospects
of settlement OF the Lusitania. discus
sion were Offset by limitations of
further political changes affecting the
allies cause. and the new policy Of the
central powers in the matter Of Sub
marine warfare afforded fresh material
for conjecture
On the domestic side another boom
in coppers. which sent most Of those
issues to record prices: undated de-
mand for steel. iron and other metals,
and foreign railway earnings were at
least partly nulIined by the indiffer-
ence Of investors to good news There
were numerous financial undertakings
of an Impressive order during the
week, indicating that the inquiry for
high-grade. we'll paying securities still
is keen, but this hardly applied to
stocks and bonds in the active list,
which failed to keep pace with the
demand for new issues.
Cessation of Foreign Selling.
There was a marked cessation Of
foreign liquidation. and sterilization Of
German and Austrian exchange was
reflected by the speedy readjustment
of rates on Berlin and Vienna.
Bank clearings are at highest levels
for this period ever recorded, and gen.
eral lines Of trade are in keeping with
this infallible barometer of business
activity.
Railroads are placing new orders for
equipment. and II Is Significant that
the large steel producers are giving
preference to domestic orders. Never
theless the balance of trade continues
at unparalleled proportions. and new
loans or credits to England and France
are regarded as inevitable.
Condition Of the Treasury.
The condition of the United States
Treasury yesterday was:
Net balance in general fund. 31ss,-
zl7,317.
Total receipts. 31.7e7,6s4
Total payments. s3.4S7,5S4.
The deficit this fiscal year Is $751;.
403.o59. against q deficit of 375,S12s67
last year. exclusive OF Panama canal
and public debt transactions
COTTON MARKETS.
NCyN nDYC r0C