Evening star., 1925-06-01
BUSINESS SMASHEd
PREVIOUS RECORD |
Unparalleled Bank Clearing
Show Healthy Trend.
Other Local Notes.
BY CHAS. p. SHAEFFER.

May, ended yesterday, wrote
name in capital letters over the loo
business and financial escutcheon.
witnessed the greatest turnover
capital ever seen in one month |.
this city, and closed the Spring s.
son with period of unparalleled pr
perity
Bank clearings, the best and pr;
ucally the only business indicar
Washington boasts, testifes well
this assertion. Figures for May. ma
public this morning, show the unpr
edented total OF Sis .295 ,665, a "a
of approximately $4,000 900 over
previous month, when S112.36O,952. /
the best previous amount, was repot
ed Last months figures We're 5 Il
600, 900 in excess of those reportl
for the corresponding month of lal
year.
Many reasons are advanced for Il
enormous total amassed by clearance
during the period. Some merchau
are moving their well stocked war
with more rapidity than is usual f
this season Of the year; others poi
to the rather heavy involvement
stocks and bonds. especially some f.
days on the Washington market Ia
month, when business in excess
500, 600 was transacted. Bkt the 60
vincing fact remains that more mon
was spent during the month than ev
before, an irrefutable argument Z
city-wide prosperity and one in dire
contradiction 10 the country'S geneE
business status.
CIearings for the first five mont
of this year total S541, ,161,5 ,5s3. a ga
of S64 ,S95,164 over the corresponds
period of last year With the pa
months as a criterion, there exists i
tie doubt that last years record tot
of $1,167, ,39S, ,426 Will be broken.
Sanitary Bonds on Sale.
A syndicate is Offering today S5o
600 of Washington suburban santa,
district, Maryland, Az per cent bond
optional May J 1865. due May
1875.
These bonds are unconditioua,
guaranteed by Endorsement bv Nol
gomery and Prince Georges Countie
the interest and sinking fund beil
provided for annually by tax leyi,
by the county commissioners of Il
respective counties on all assesSat
property within the district II
bonds are priced to yield 4I5 per &c
to 1855, and AZ per cent thereafter.
Treasury Offering Soon.
Member banks of the Fifth FEEDER
Reserve Bank were officially advis
today to expect a new Treasury offt
ing, which will undoubtedly be dat
June Is. The circular merely ask
members TO forward their subscri
tions expeditiously.
T.opan Joins RaDlring E-iru,
Dillon. Read & Co. have conf7rmt
the report from Paris that Col. Jam
A. Logan. jr., unofficial observer" {
the American Government in the inte
national negotiations which led to Il
Dawes plan, has become associate
with the firm.
His particular duties in his new Z
sociation with the American banke
Will probably be to a large extent Wi
European governments, with who
leaders he has been associated in sol
ing many Of the postwar problem
which have developed since the arm
stice. He will continue TO make b
home in Paris.
Banker Home From Trip.
George L. Starkey. president Of Il
National Bank of Washington, 7
turned to his institution this movnir
after a six-week visit on the Pacit
coast.
Mr.. Starkey resumes duty hale a.
hearty.
Better Business Seen.
May will see the end of the cure
business reaction and begin an upwa
movement, which will carry at lea
into Fall" says the Brookmire EC
nomic Service.
Demand is going to be big enoul
to keep output at high level, to Ike
prices generally firm and give the
some little upward strength. Go
but not extraordinary profits are
view, but vigorous selling effort W
be necessary to obtain them"
Local Exchange Strong.
A strong tone ruled today's restri
ed session on the local Stock Exchans
Favorite issues retained their rece
peaks, with the exception of RaiIw
common, which fell off more than
points to 121 on sales of two and o.
half shares.
Washington Gas made no furtr
advance on its recent upturn. /
maintained it's level Of 5S, while ca
tai Traction was strong at 952s. Rs
way preferred sold at S3i2 and SS
and American Security and Trust [
at 329 and $50.
Potomac Electric first SIS and Ra
way as were the only active bon
the former selling at 997s and the i