Evening star., 1925-06-30
C[EAR|NGS IN June
REACH NEW PEAK
Total of S124,366,735
Shows Money Plentiful.
Strong Tone on Exchange.
BY CHAS. =. SHAEFFER.

Never in its history has Washing
ton enjoyed such bountiful supply Of
money. The purchasing power of the
city, as measured by check transac
tions, amounted to the unprecedented
total of 1924, ,366.75S in the month clos
ing today. a mark which skaters tho
best previous monthly record by a.
most $40, 900. 900
Growth of Clearances this year. thu
far, has not been sponta neous buL
gradual and striking. Proof of this as
sertion lies in the fact that only one
month of the present calendar year
failed to record at least 500, 900 900 ~
clearings. this being February. when
but s93.021, ,370 passed through the 10
cal association. Range OF other months
embraces from $l09 600, 900 III Janu
AIRY to the present months unsurpass.
ed sum.
A general feeling OF confidence
which breeds prosperity. rather than
unusual factors involving the expen.
diture of huge sums, is held responsi
BILE for the heavy turnover.
Striking an aVera ge for the first half
of the present calendar year, the re
suit indicates that 1928 clearance
will exceed the S1,167, ,39s.426 recorded
last year by more than $3.50, 900, 900
Total for the first six months ending
today amounts to $3.50 .342.
Local Exchange Buoyant.
A buoyant tone was manifest on the
local exchange today. Popular issue
held at the prevailing high levels.
although no new high records were
eSta bliShed.
been a market feature for the last
month, sold at par throughout the
session, and Washington Gas Light
stock attained a fractional advance to
61l4. Railway preferred stock also
advanced fractionally to 81. and Amer
ican Security and Trust Companv
stock had a cash sale at 335 National
Mortgage and Investment preferred
brought 912.
Bond trading was confined to UTILITY
issues at unchanged prices
Savings Deposits Jump.
Savings deposits of $50 Institutions
throughout the country increased S3s,
100000 to S7,S29, ,130, 900 in the month
ending June l. the Federal Reserve
Board reports. Compared with wear
ago, the increase amounts to s517.8l4,-
900, or I per cent. All districts, with
the exception of Minneapolis, reported
increases.
The fifth Federal Reserve district
which includes this city, reports s.
savings institutions with aggregated
deposits on June l Of s347 900 600. On
June !, 1924, the amount was only
S309 $50 900
Bankers to Resume Luncheons.
The regular weekly bankers
luncheons will be resumed tomorrow
at the City Club at 12:45 pm. This
feature of bankers activity, incepted
during the administration of Harry
V. Haynes and carried through the
reign of Victor B. Deyber. has proved
of such infinite value through the
interchange of shop talk that it
will constitute a regular function of
the association during Francis G.
Addison's occupancy of the presi-
dents chair.
Every member bank is requested to
have an accredited representative
present, not only at this meeting but
future occasions as well.
Broker OF for Europe.
G. Bowie Chapman. resident partner
Of Hartman & Co. sailed from New
York today for a tour of Europe In
the interests of his firm. He is &C
companied by Mrs Chapman and their
son and will return about Septem-
ber Is.
Walker Made Director
Albert W. Walker was named YES
terday to the vacancy on the board
of the F'iremen's Insurance Co.
through the recent death of his
father.
Will Open Office Here.
Eastman, Dillon Co. of 100
Broadway. members Of the New York
Stock Exchange, will open a local
office tomorrow morning in suite
226-27 Transportation Building. it
was announced today
Leon Shore. former local repre-
sentative of Dillon. Read & Co. will
be in charge Of the new branch.
having as his associates c. Griscom
Randle, Arthur Foraker, +. L. Lee
and JaSnar DuRoSe