Evening star., 1924-01-31
BANK CLEAR|NGS Il
REACH NEW MARK
$99, 9,846,145 Is January's
Biggest Figure Yet-War
Renewed on Branches.

Clsarings of Washington banks cs-
tablished new high record for the
month of January during the period
closing today, amounting to s9e.s46.
40, Clearing House Manager Charles
II. Bright announced this morning.
This total is exceeded by only two
months in the history of the assocfa
ton, clearings having totaled more
than s1o0,00O,o0O in May and June OF
last year. In December last they
amounted to s97,234.37s, and in Janu-
ary of last year they aggregated only
$s4,226,70.3.
Ihese figures, it is stated, are con
ciuslVe evidence that an era Of pros
perity is enveloping Washington and
| enat the local population is spending
more than ever before Unprecedent-
| ed buying Of radio equipment, q non
( dence of this claim
Ilearinss during the year 1925
amounted to Sl,l02,15S,974. consider
apIy more than twice the S41O,073,a57
80 M IN 1915. when local clear
iiss records were first started
| Henews Branch Bank Fight.
FRANCIS NJ. Savage. president of the
northwest Savings Bank, is unrelcnt-
ing IN his fight against local branch
banks. Following an hours confer
ence at the controllers Office rester-
day, he stated that Office is in agree
inent with his contention that within
the legislative intent the ATilIspaurr
act ala not authorize branches of ma
biS biohai banks. Therefore,, he states.
ms contention of the misuse Of the
iMlllSpaugh measure stands
! AS for tellerS' windows or office.
IN washington, there is not and nev-
souree So ras pesn E"r any any, authority from AM
raised the question as to the consti-
tutlonality and legality of the Mills
| paugh act, and especially as TO The
Interpretation put on it bv Mr.. cris-
singer We are informed that if he
had the right under that act TO an
thorIze national banks to opep
branches in Washington he would
nave the same authority to authnrizn
! a bank in some other state tn nncn J,
pranch bank in Washington. liz IN
legislative intent is not properly f,f
| lowed and Mr.. Crissinger's interpre-
act, he concluded
Mt. savage stated further that his
couhsei Is not in agreement with the
| reported Interpretation of the con
troiler Office that the Supreme Cour,
did not express itself on the oues-
tlon of tellers' windows While il is
/ true that the teller's windows Issue
was not involved in the case decided
the note at the bottom of the decision
clearly reflects an opinion of III"
! ces are not justified by law"
according to Mr.. Savage, effort.
VIII be continued to close the brancl-
| es OF national banks recently orga,.-
| lied here.
| New Account Contest Lively.
The Citizens Savings Bank is COZ
among the employees OF the institu.
! tion, carrying with it eight casL
awards and four trips to Atlantic Cit
| to be divided among the contestants
making the best showings.
! The cash prizes to be awarded con
| testants will be u proportionate
| amount, based on balances in ac-
counts on May Is. On savings &C
$500 will be made, governed by ac
counts of less than 500 TO $4,000 and
over. while commercial account
prizes of from $3.50 to SIS will be
donated for average balances of $500
| to $1,000.
! Fernad Petit. cashier of the bank.
, captains one team, and r. NJ. Wolfe.
assistant cashier. directs the other.
! To date approximately $4,000 has
been secured collectively.
J Bnnking Firm 10 Move.
! Carl Robertson kurtz, vice presi-
! dent in charge of the Washington
! office of Stroud, Kurtz & Co., Inc,
| announced this morning that office
! of his firm, which have been in the
| Colorado building for the last five
! years. will be moved tomorrow to TN.
Transportation building.
Local Securities Ease on.
Prices on the Washington Stoc.z
Exchange eased off to slightly
lower level in this mornings tradc
Washington Gas Light was the rea
! leader of the session, 139 shares sell
! ing at As fractional decline. Rail
way common was firm at 701a and
I034. Capital Traction was sold al 90
In the bond list Capital Traction 5s
brought 81 and Washington Gas 6s OF
1888, 101.