Evening star., 1924-09-30
MORE GAINS MADE
IN BANK CLEAR|NCS
SIS, 100000 for Month Over
Last Year - Reserve
Board Report Out.
BY CHAS. u. SHAEFFER-


Check exchanges on Washington
banking institutions duringsthe month
endlns today totaled ss90O3.939 an
increase of approximately $4,000
over the same month of last year. and
ABOUT $lO,000.0 900 more than in Angus,
Two years ago. Charles r.. Bright. man
aeer OF the Washington Clearing House
Associauon. announced this morning
The figures bear out the assertion
that during the month trade main
talned It's usual though not abnormal.
volume
Ciearlnes for the year to date are
well IN advance of the same nine
months of last year. and will estah-
iIsh new high record for all time
III m tne remaining three months For
Idst year total clearings approximated,
,200.00000O. while for the wear In
GATE, including September, they total
about $3.50, 900.
Phone Earnings Improved
Net income of the Chesapeake and
fotomac Telephone Co for Angus,
amounted to $97.486, officials of ina
company announced this morning
rms hgure represents gain OF an
prolmately $4,000 over the CORE
spending month of last wear ana.
so,oOo increase over July.
Total operating revenue amounted
TO s454,5S2, with expenses of S32226.
IaNeS assignable to operations and
uncollectible were $685. Plant
and equipment added during the hrs,
eight months of the year totaied
Sl.bl3.4ls. with retirements OF
s521,432
Roads Gain In Eficiency
An Increase during the first eight
rf
OF ton in the carrying capacity OF
Irelght cars and a gain of 542 pounds
In the tractive power of locomotives
Is reported by the American Railway
Association. on September | the ay-
erage carrying capacity per car was
~ l-o tons, compared with 43l tons
on January /. The average tractiye
power per locomotive was 3970S
pounds, compared with 39.164 pounds.
Class one railroads placed in ser,
ice lO4.JJ6 freight cars in the first
eight months, a decrease of 11.l61 un-
der the corresponding period of 1872.
= Active Trade Anticipated.
decrease in the purchasing powu..
or the NTH federal reserve district "a
result of shorter yields in the three
major crops and lower prices prevail
ing for two OF them IS the most un-
favorable factor in the present bust
ness situation, according to d state
ment issued by the Federal Reserxr
Bank of Richmond this morning \
fairly active Fall trade in business
other than agriculture is anticipated
In average Years August is a com
paratively quiet month in busines<
circles. Summer activities tending u
slow down and Fail business only be
ginning to open UP toward the last -
the month. Business IN the tifth dis
trict during August this year follow
ed the usual course very closely. and
no striking developments were noted
in any particular lines of trade. on
the whole the volume of business dou,.
was about the same that done dur
ing the same month last year. but "a
present there is distinctly more CON
serNatiSm in evidence than was Wis
ible in 1928.
The optimistic attitude toward Fail
prospects, mentioned in the review
last month, was somewhat less mark
ed in mid September. but there docS
not appear to be much real uneasineSs
over probab BILE future Developments
Labor Well Employed.
The textile industry is still handi-
capped by uncertainty as to this
years cotton yield and prices but the
industry is making some progress
L
The coal industry is steadily increas-
ing its activities as orders come in
with the approach Of Winter. Labor
is well employed for this season.
chiefly as Il result of the exceptional
continuation of construction activity
The value OF building permits issued
in reporting cities in the fifth dis
trict during August exceeded the
August 1928 valuations Credit is
ilaI all . tI,,,.,
the district, member banks in many
cases being able to accommodate
their customers without rediSCount-
ing. Consumers are spending their
wages freely. as is shown by th,
large volume of debts to individual
accounts at clearing house banks. but
they are also saving part of their in
come. as indicated by steadily rising
deposits in the banks of the district.
August Trade Under 1929.
Both wholesale and retail trade in
August fell somewhat under 1873
business. but 1928 was an unusually
good year toward the end, and 1924
does not compare with other recent
years unfavorably.
Business failures in August were
more numerous than in August. 1925.
when commercial mortalities were AT
very low rate, but were fewer
than for any earlier month this year
Trading of Local Exchange.
Activity in Washington Gas Light
stock was the only feature to to-
days listless trade on the local
board. The fuel issue sold to the
extent of 90 shares at 503. retain
ing its recent tirmness.
Railway preferred was again strong
at 76A, - shares changing hands,
but Traction eased off to a25s
Railway general sizes sold at 9S5s.
Gas skies at 100a.. and Traction fives