Evening star., 1925-01-31
BANK CLEAR|NGS
TOTAL S109,S2,616
January Figures $4,000.
600 in Excess of Same
Month Last Year.
BY CHAs. p. SHAEFFER.

BANK cIearIngS OF local inStltu-
tions during the month ending today
amounted to s1os,562,s16, Charles e
Bright, manager Of the Clearing
House Association, announced this
morning. This sum is almost ten
million in excess of the s99,s46,145
reported for the corresponding month
OF last year, and is only two million
In arrears of the monthly peak
reached December last, when clear
lngs reached the huge sum OF SILL
1881
The figures testify to the tone OF
confidence and prosperity prevalent
throughout the country and show
gradual increase n all lines OF local
business rather than flashes in a few
particular lines.
The Washington Clearing HousI
association was organized in 1915.
IN tnat year clearings for Januarr
totaled but S32.64S,S06. Two year,
ago they amounted to s94,226,7o3.
Fewer Business Failures.
commercial failures in the United
states this week totaled 525, or il
below last week and 35 above the
corresponding week Of 1924. accord
ing to r. G. Dun & Co. Although
the South, West and Pacific Coast had
more defaults this week, these were
onset by reduction OF 81 in the
East.
Railroad earnings in December in
dlcate new record for that month.
reports of SO carriers showing ag-
gregate net operating income of
SS'Zzf,0OO, an increase of 22.4 per
cent Should the roads still to re-
port maintain about the same per
cent OF gain, the net total for the
month will reach $s6,00O,ooO against
$6s,ss4,000 in 1923. This would bring
| the years net for class one roads 10
around $685., 900. 900, representing a
| return of 4.ss per cent on property
valuation of s1s.745. 100000 taken at
the end of 1928
Fifth District ProsperinE.
Business conditions generally ex-
ceeaed expectations throughout the
| NTH federal reserve district, the
month review of the Richmond Fed
era Reserve Bank states.
| "A decided feeling of optimism has
recently developed in the business
| world, and on the whole the fifth
| district appears to be in a position
that tustifies this feeling" the review
/ declared.
while Fall trade was slow in
opening up in 1924, and September.
| October and November were all some
| :" N0N oiSoppO4HllH51 OiSllnCI signs OF
Improvement became visible in No
vember as soon as the election was
out OF the way" il was pointed out.
| No boom in trade seems TO be ex-
pected, the review continued but
virtually all of our correspondents
profess to believe that the next few
months will witness enough trade to
keep every one busy and to return
reasonable profits to manufacturers.
! wholesalers
few weak spots in the district, but
except in the lower half of South
Carolina, where there was a virtual
crop failure in 1924, none of them are
! serious in comparison with average
conditions over term OF years.
Lower yields were seen during
1924 in nearly all the leading crops,
in comparison with 1923 yields, but il
should be remembered -hat agricul-
tural returns in the fifth district were
| exceptionally high In 1928 and the
! decrease in 1924 probably appears
| more serious than IL really is because
the comparison is with 1928. an eX-
ceptionally good year"
Local Market Lively.
Relative heavy selling in popular
| stock issues, accompanied by a new
years high by Mergenthaler Limo
| type, featured the closing session of
the month on the Washington stock
| Exchange this morning.
| The typesetter opened at 10. a net
gain of 1 4 points over the previous
| peak, and increased gradually on
| ten-share sales to Ills. A total of
| 101 shares were disposed Of during
| the session.
/ Capital Traction stock made a val
| liant effort to regain Its recently lost
| prestige due to a falling off in earn
/
/ selling at 9215. Railway preferred
| was unchanged at 81, as was Lanston
| at 1874 National Mortgage and In
vestment preferred was pGEged at
| 9S, and five shares o. Railway COM
| mon sold at 100.
Bonds were listless and unchanged
| as to price.