Evening star., 1922-03-31
RCHCLEAR|NGS
/, SHOW LARGE GAIN
E14,832,3l1 Greater Than
| February-local Bonds
& Firm,-Notes.
BY 1. A. FLEMING.

!" During the month of March the busi-
ness of the city of Washington i'm
proved very materially. as shown py
the clearings of local financial insti-
Sutiops. as reported by the Clearing
House Association.
For March the clearinSs were $e-'-
Ol6,6a5.15. a gain of $1i.S32.3h over
xhe showing OF February.
February ciearings fell of nearly
$l0.00e.00O from the record or Jen-
Osry. the short month oeins resp
sibie for that loss. as the cieaiiue
for some time have been running oSeI
$4,000, 900 a day, but the increase thIs
month, in comparison with feUIuai
IS only partially accounted LOT Wy '"e
added days in the month. ,,r1e
Real estate business has oeeh lars
Tor some time, large amounts vi
money changing hands, While the re
tail and investment business mas
steadily shown improvement
For the first quarter OF tne year 'ne
elearings totaled $226, ,415.00V.
Columbia Graphophone.
Onicials Of the Columbia Grapho,
meeting of the directory. held yester-
day. as follows: II. L. Wilson, preSi-
dent; +, j. Fuller. chairman OF In 1ne
board, and f. j. Ames. secretary: iHe
new chairman of the board OF uifec
tors is one of the most Important
business men of New York city. being
at the head of the boards Of many
great industrial corporations.
Local Securities.
Local bonds of public utility corpo-
Gations were favored in the trading on
Ahe stock exchange with prices nrm
at 6s% for the Railway As, s9n Tor
Potomac Electric 6s.
Dafl nv11n n
,preferred. 50 to 6sl4. Gas shares
A number of sales of Mergenthaler
A1ere reported at 14S.
f. Stock Exchange Dinner.
, Over 400 acceptances have been
Received for the dinner OF the wash
stngton Stock Exchange at the New
Willard on Saturday night. Guests
will come from New York. Boston.
Philadelphia, Baltimore, Chicago ana
other cities.
w. W. Spaid will be in charge of the
entertainment features. Eugene 4.
Thompson. president of the exchange,
will preside. =.
Mr. Eliot Wadsworth, assistant sec
Tetary of the Treasury. and Secretary
Meredith of the Department OF Agri-
culture are the speakers of the
evening.
Chartered by Commissioners.
When the Merchants Bank and
Trust Company opens its doors for
business on Monday morning it will
begin operations under charter from
she Commissioners of the District of
Columbia, complying with all provt-
kions of the District code.
Some of the existing tet COM
Sanies are chartered by Congress, but
The granting of these charters was
surrendered some years ago to the
Commissioners of the District.
All the trust companies in the Dis
4rict are now operating under the
District code.
Merchants Farmers Bank.
call is out for meeting of the
charter members of the, Merchants
and Farmers Bank of Anacostia. now
in process of organization, to be held
tonight. at 1908 Good Hope road.
- The Premier Finance Corporation.
which organized the Banking. Trust
and Mortgage Company is promoting
the new Anacostia institution.
Plans contemplate occupation, of
permanent quarters at 1895 Good
Hope road.
Federal Reserve Banks.
The federal reserve system showed
total percentage of reserves to ltabilt-
ties Of 77s, as compared with 78.4 a
week ago, indicating that commercial
Borrowing is increasing.
Banks are competing with member
banks, as the system now shows a
total of $102.s91,o00 bills purchased
IN the open market