Evening star., 1922-05-31
BIG GAIN SHOWN|N .
LOCAL CLEAR|NGS
Month of May, With Total OF,
$e7,287,163, Is Local
Record.
BY 1. A. FLEMING.

Business IN washington 10 PAo
crossing most satisfactorily. The
daily clearings furnish the truest
barometer of actual conditions avail
Fable and they show that the month
of May was the best from a business
standpoint of any May in the record
of the city.
4 Charles D. Bright, manager OF the
clearing house, has compiled the rec
ord from May. 1915. and as the in
crease in business, deposits and other
banking statistics have shown the
Greatest increase in the past five
years this period will also cover the
largest business record.
AS compared with April, 1922, the
month of May clearings are SS,079,694
greater. the total being sS7,2s1. 1853,
which. in turn: compares with May
Each year of the period between
1915 and 1922 the months of May
have shown an increase in the ag-
gregate clearings, except in 1871,
when there was drop from sSO,0Il,-
252 to s72.3so.696. loss which has
been regained plus the net gain
S7.0O9,O00.
The figures for each May from 1915
TO May. 1922. inclusive; follow; g..
s56,929: 1917, s50,594,236: 1918. s61,-
s97,s53; i9l9, s71.32s,072; 1920, $780,
2s7,163
May is the month Of tax payments
and the banks have been busy taking
care of customers interest, and as
result thereof some s10,000,000 to
= <withdrawn from the banks and added
to the Treasury store via the col
1ector of taxes of the District of Co
lumbia and not a dollar deposited
with local institutions in contradis-
tinction to custom in every city OF
any Importance.
The added taxes recently imposed
on the people of the District by Con-
Sgress are not effective until next
Year, when 2-10 additional taxation
bn intangibles will be charged and a
very large additional levy made on
real estate.
Convention Notes.
W. j. Waller, chairman of the pub
1icity committee OF the bankers. con-
vention. announces that Victor B. ey-
Der. chairman of the convention. has
agreed to deliver an address at the
convention on THE History of Bank
ing in the United States and that
, 1ished by Chester II. Warrington,
president of the Automotive Trade
Association of the District. who will
talk on "Closer Relationship Between
the Automotive Trade and the istrict of
Columbia Bankers Association
This subject and address will be
especially appropriate. coming at
time when local bankers are con-
sidering broader financing of the
automobile trade, if it can be accom-
plished with safeguards to insure
against loss to the banking fraternity
The subject was debated at some
length at a recent meeting of the
association and ordered transferred
to the floor of the convention for
further discussion.
Indications are that there will be
a larger delegation of senior officials
of banks at the Hot Springs conven-
tion than at any of the previous
. conventions. 4
Local Stock Market.
Business in local securities was
unusually light and the session was
nninteresting. People are not think
ing of investing money at the same
1ime they are called upon to pay
their. taxes. under threat of penalty
for delay with many holders of Sc
Curites making loans to meet obliga-
tions.
featurless was the sale of q block
of five 1000 bonds of the City and
Suburban Railroad Company per
cents. the first sale being at SO. with
fractional declines on each bond sold
TO So.
Railway common was firm at 40L,
and Gas shares at 55A.
otherwise quotations were without
change of Importance. Some mem
bers of the exchange had not re-
turned from their threeday holiday.
X. G. Finney Resigns.
r. G. Finney, for the past five years
national bank examiner for Wash
come vice president of the Commerce
TrnSt COmDany of Baltimore