The Washington herald., 1922-08-04
FIN N cIAL
U.S.. PUBLIC DEBT
SPARED $500, ,Sl7
DURING JULY, 1922
Gross Totals $22,957,s7s,.
891-Clinton Bank on
SO Annual Basis.

The total gross public debt of the
United States was pared ss.oo7,s17
during the month of July, the
Treasury Department announced
yesterday. and on August 1 stood
st sz2.ss7.373.ss1- On the same date
OF last year the total debt aggre-
gated s23.771.237.00S. while on Au-
gust III. 1913 when the war debt
was at its peak. 1t amounted to
s2s.5ss,7o1.s4s.
The outstanding Indebtedness Is
apportioned as follows: Bonds.
other than Liberty Loan issues,
ssSS.s6l.OsO: Liberty Loan bonds,
Sl5.sS5. S5.l6l.0So; Victory Liberty
loan. Sl.ss1.137.10o; Treasury notes.
s2,25s.242.s50; Treasury certificates.
n.S24.129.500: Treasury and War
Savings securities. ssss. ss9. .70s. This
Indebtedness. which bears interest.
totals s22.715.sI0.237.
The debt on which interest has
ceased amounts to s14.665.240. while
the non-interest bearing obliga-
tions total s227.06s.412
Dividend Declared.
Directors of the Clinton Bank.
Prince Georges County, Nd. have
declared-a semi-annual dividend of
per cent. payable in December. 1t
was announced yesterday. Former
Representative Guy T. Helvering,
chairman Of the board of directors
of the institution. rendered his res
ignation at the meeting In order to
devote his entire time to the Plant
ers' State Bank of Salina. Kans.,
which bank he controls. The resig-
nation was accepted and Lee Man
ming elected to the directorate In
. his stead
The Clinton Bank was organized
and opened for business about two
years ago. On the opening day the
deposits were less than $4,000. the
accounts numbering twenty. To-
day the institution has deposits of
approximately s125.o00. with 500
q accounts. two-thirds of which are
savings.
W. Glib. 4 Dent. of the local
realty frm of Gardiner & Dent, Is
president of the institution.
Failures in July.
Preliminary returns to r. G. Dun
& Co. Indicate a total of 1.743 COM
mercial failures in the United
States during the month of July,
with liabilities of s3s.s0o.o0o. These
figures. which will probably closely
approximate the actual results for
the month. compare with 1.740 de-
faults in June. when. the indebted
ness was about $3s,200, 900. and
with 1.444 insolvencies for $42.775.-
600 in July. 1921. 1t thus appears
that no great change occurred In
the country's business mortality
last month. in comparison with that
of June of this year. the number
of July failures. according to the
preliminary statement, being
slightly larger ant the liabilities
somewhat less than those of the
earlier month. The high point in
number of defaults this year Is
represented by January's total of
e.723: the number declined sharply
in the short month of February.
increased moderately in March. and
then decreased substantially in the
a.. next three months. The low mark.
thus far. was reached in June. but
the July insolvencies, as has al
ready been shown. were little
changed from those of June. As was
the case with the number of fall
ures. the maximum of Indebtedness
this year was recorded in January.
with an aggregate OF some s73,S00.-
600. The monthly totals did not
fall below s71.000.oeO until May.
when there was sharp reduction
to s44.400. 900. The June liabilities.
as already stated. Appropriated
s3S. zoo. 900. while the final July fig-
ures may not exceed that amount.
IL they equal II. In point of num-
ber. the commercial mortality still
exceeds that of last year by a ra-
ther wide margin. but the actual
July Indebtedness will probably
fall considerably below that of the
corresponding month of 1921.