Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-07-09

Bank clearings In Richmond for the
month of June showed a tremendous,
increase over the corresponding month
OF last year. and the largest gain OF
any Southern city. again establishing
the fact that This city is one Is the
leading banking centers OF the SoCth.
and that 1t is TO be rcckoned with in
the future rs one Of the financial cities
OF the country. The clearings for
tho month aggregated sl04.12S.629. as
compared with s7o.225.7o2 in 1915. and
S3949950S in 1915. This vast business
came with unusually heavy transac-
lions, and at the time when tho city
and country was in the midst OF the
Liberty loan campaign. which demand
ed a large part OF the time Of bankers
and business men for several weeks.
Operations in connection with The
Liberty loan, continued actively in
nearly all leading commercial and In
dustrial branches and the further sharp
rise in commodity prices combined TO
| swell bank clearings at the principal
cities in the United States during June,
| the total, according to Dun's Review.
amounting to s26,52S.71o,593. which is
| by far the largest ever recorded for
! that month, and 29.3 and $50 per cent.
respectively. greater than for the same
month in the two Immediately proceed
| ing years.
/ CLEARINGS IN NEW YORK
| WE'RE ESTRESELN Y
| Clearings at New York were ex-
tremely heavy exceeding those OF June,
last year. by 2S.2 per cent and those OF
the corresponding month in 1915 by
| 1860 per cent. but, while these gains
reflect the maintenance of active bust
ness, allowance must be made for the
| special financial operations and the rise
in prices OF about all classes of mer
chandise. Almost all cities outside the
| m q Of
clearings on record for June. with the
! aggregate for all points showing
gain OF 800 per cent. as compared with
| the same month last year, and 1872 per
cent as contrasted with the correspond
ing month two years ago, while every
section into which the statement is
divided shares to substantial extent
! in the improvement.
! In the South Atlantic States in
| which group Richmond is located, there
| were gains of ia and 6S per cent. re-
| spectivcly, over June, 1916 and June
1915, rejecting generally prosperous
conditions. The leading cities esps-
cially contributed 10 the Improvement
There are indications, however. that
during the next few months the clear
ings in Richmond will show still fur
Their increases, for business conditions
are unusually promising at this time.
| with practically every concern work
ing to capacity and labor receiving the
| largest wages in the history OF the city.
RICHMOND JUMPS FAR
| AHEAD OF ATLANTA
AS compared with clearings of s1o4,-
| l2S.629 in Richmond for the month of
June, Atlanta's financial institutions
sent through the clearing house of that
city a total of $50, 439.60l. Clearings
| in Washington were S5l,665.9o3. Among
I the cities of the country considerably
| larger than Richmond which were sur
! passed in bank clearings during the
| month were Buffalo. indianapolis, Den
| yer and Seattle.
Richmond exceeded by a large figure
| the clearings in Savannah, Jackson
| vile. Birmingham, Memphis. Nashville.
Knoxville, Charleston, Chattanooga,
| Norfolk and numerous other Southern
! cities. But not only in banking is
! Richmond growing, for other lines of
| business are equally active.
From the accurate reports of the
mercantile and statistical agencies"
| says the latest report of the Chamber
| of Commerce. the bank clearings and
the building figures. it is apparent that
! business is as good or better than it
| was before the declaration of war be-
! tween the United States and Germany.
While settling accounts with the mod
| ern Captain Kids for the murder OF
| American women and children at sea-
| the American business man does not
4 int To cir Of