Evening star., 1923-11-30
BANK CLEAR|NGS
TOTAL S93,475,02O
Gain of 100000 Over
Year Ago, But Under
Last Month.

tlearings Of Washington bankinp
institutions for the month ended r.
day totaled s93,475.O2O, Charles F
bright manager of the local asso
clation, announced this morning. This
heure represents an increase of an
proximately $4,000 over the same
month of last year. when s85.8S6.04a
was reported. but is slightly in ar
rears Of the 1929, sos reported FOR
last month. This slight slump over
last month is accounted for by III.
thirty-day month, which included one
holiday, Thanksgiving, and the un
usually light business transacted on
election day.
for the year to date checks total
ing $l.004, ,924. .592 have passed through
the Washington Clearing House Asso-
SIdtl0h, which is a gain of approx
tILateiy s16,O00,00O as compared with
me, me corresponding period of last year.
iyII. iDui ihE the whole of last year clear
q asIe asure o1 about LOO, 900 900 will be
ls"ched thlS year if the present rate
9t expenditures is maintained.
War Certificates Exchanged.
EAchange of war savings certif-
Gates, series of 1919, for the new
Ia,,Ias savings certificates, dated
January !, 1924, began today.
Holders of the old NAV exchanra
them for the new, it was announces
last night by Secretary Mellon Al
maturity value for the new certif
Gates. ana at the same time the holder
dlHerence by taking the larees,
amount of the new Treasury savings
certlhcates that their war savings
certliicates (taken at maturity value1
will cover
The maturing certificates Secretary
Mellon also announced. will be az
| Septeu. beginning now, for cash re
oemption, but checks in payment GOV
eflng their redemption value will not
I De malled until about January /
must be presented at the post Office
where registered but unregistered
certificates will be received for re-
demption OF exchange at any money
order post office, any federal reserve
Dank or branch or the Treasury al
W ashlngton. Banking institutions
generally viii also handle these Ger
tihcades for their customers. and hold
eTs OF maturing certificates are urged
by secretary Mellon to present their
certificates as far as possible through
their own banks and trust companies
Inc new offering of Treasury saw
ing certificates will be in denomina-
tlons of $25, 500 and $1,000 maturity
SSVo, respectively.
Trading on Local Exchange.
Local traders switched their at
tention to bonds on the Washington
STOCK Exchange today, ignoring the
stock list, where but two issues were
traded in. these being Capital Trac-
ton which ruled unchanged at 1885,.
and Railway preferred at 71$4
Favorite bond issues ruled un-
changed. Washington Gas 5s sold al
SO, with the 6S of the company firm
at par. Potomac Electric 6s sold at
10112, and Wardman Park Hotel 6s
brought SO.
Penn SeabOard Steel Active.
Explanatory of the activity in cur
rent markets for Penn Seaboard Steel
il is understood that a pool has been
| formed and IS operating in the stock
transactions have been unusually
heavy. particularly last Saturday. when
the turnover topped that in any other
part of the list.
The present price of Penn Seaboard
is just about one-half of the high of the
year which was 6. 1t is stated that all
the company's plants are in operation.
with earnings approximately $4,000 d
month.
J. 3. Warren. the company's presi-
dent. announces that 95 per cent of
the three-year I per cent notes. due
February l. 1924, have been paid
The other per cent We're paid on
August l.
Straus Buys Bond Issue.
S. w. Straus & Co. have purchased
and are offering an issue of $S75.O0O,-
00G first mortgage 6 II per cent. three
to-twelve-year serial coupon gold
bonds of the Forty-one Fifth Avenue
Corporation, secured by the land and
the new fifteen-story apartment
building on the southeast corner of
5th avenue and 11th street, New York
city. Coupons are payable May %
and November %.