Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-07
EXCHANGE TO OPEN
EARLY ON MONDAY
Bank CIearings Gain-NeW
Bond Arrangement-Drop
in FaiIures-NoteS.
BY EDWARD G. STONE.

BY EDWARD G. STONE.
On Monday the Washington Stock
Exchange will open at 1Ol5 in.
stead of 1l15 in order that the
members may attend the funeral OF
John L. Edwards, it's president. The
financial district was still greatly de-
pressed today over Mr.. Edwards I'M
timely death. The fact that the finan-
cier was only AZ years old makes his
passing seem still more difficult to
understand. At the same time his
short life makes his rise in the finan-
cial world the more amazing. From
a bank runner to the position he held
In finance at the time of his death
Is another of the comparatively few
romances in business. I
Mr.. Edwards attended the annual =
convention of the District Bankers
Association at Hot Springs and was
in his usual good health to about
10 days ago. Many have commented
upon the brief time between his de-
mise and the death of his very close
friend, Alexander Britton. One of
the greatest joys of the last of his
life was the arrival of his grandson,
John Edwards Parker, last April. The
naming of the baby for his grand
father gave him added pleasure. This
arrival was not officially announced at
the stock exchange but every member
knew 1t as soon as If a special notice
had been posted.
Increase In Bank Clearings.
An increase Of 81 per cent in bank
clearings is reported to Dun's Review
by leading cities Of the United States
this week. the aggregate being say
389 ,158, 900, against IS, 799, $50 900 az
Tho gain this Vyaak ia dina
to larger total at New York City,
where clearings of $5,984 600, 900 ex-
coed by 11.2 per cent those for the
corresponding week of 1925. Amount
ing to $3,405, 900. the clearings at
the outside centers show loss OF 06
per cent, although stable increases
appear at Boston, Pittsburgh, Cleve-
land, Cincinnati, Kansas City, Louis
vile, Dallas and Portland, Greg.
Record Of Weeks Failures.
A decrease of % in the number Of
failures in the United States Is re-
ported this week, the total being 375.
This compares with 397 defaults last
week, but is moderately above tne
362 insolvencies Of a year ago. Fewer
failures occurred this week than last
week in the East, the South and on
the Pacific Coast, these reductions
more than offsetting an increase OF
IS defaults in the West. /
Midsummer quiet prevailed In the
wholesale commodity markets this
week, with seasonable reductions In
a. number of articles bringing prices
down to a slightly lower level, Al de-
clines appearing in the list OF quotAr
tions as compared with 22 advances.
In last weeks compilations 81 in
creases contrasted with 2S reductions.
New Bond Plan Arranged.
Chairman Robert V. Fleming OF
the Treasury relations committee OF
the District Bankers Association re-
norts that arrangements have been
made whereby Liberty coupon oonuS
issued in exchange for registered
bonds may be delivered at Room 10
in the Treasury Building, and when
the new bonds are ready they may De
received at the same place.
This change will be distinct adj
vantage to local banks, as it has been
necessary heretofore to send messen-
gers to the Liberty Loan Annex,
south of the Bureau of Engraving
and Printing. During the war sucn
exchanges were made at the Treas
ury Building, but after the war the
auxiliary Office was closed.
Realty Officers Chosen.
A meeting of the Old Dutch Realty
and Development Co. resulted in cleo
| ton of the following directors: Joseph
A. Whitfield, John Dolph, Pere A.
| Wilmer. Thomas Atkinson, jr., and
A. p. Strobel of Baltimore. The or
ganization meeting of the directors
followed and these officers were
chosen Joseph A. Whitfield, presi-
dent; Thomas Atkinson, jr., vice presi-
dent and Pere A. Wilmer, treasurer.
Finds Good Will Toward U. s.
Myer Cohen, local attorney and one
Of the organizers of the old Federal
| Bank and still director Of tha Fed
eral- American Bank, has just returned
from an 11-week visit in Europe. Mr..
Cohen SAYS he found an entire alb
sence of any ill-will against the United
States in either England or France.
but he did observe a. great deal Of I'M
employment in England. He asserts
that talk about reopening the British
debt settlement with the United States
is pure nonsense. People in both
countries told him that they consid-
cred President Coolidge one OF the
safest leaders this country has ever
had. While he had wonderful trip he
returned to Washington more gratified
than ever that he Is an American
citizen He nOlQS THIS view III SplIo
of the fact that he got home in the
midst of a hot wave and was so cool
in Europe that he had to use blankets
every night.
Personal Mention. ,
John B. Cochran. president Of the
| Franklin National Bank. is passing a
| few days at Staunton, Va. Mr.. Coch.
ran is also president Of the Planters
Bank of Staunton, the bank which
recently purchased the entire front OF
the old Merchants Bank on F street
in this city.
John Poole. president of the Fed
eral- American National Bank, returns
, ed from his vacation. He was gone
about a month and passed much OF
the time on motor trip through New
England.
C. H. Pope, vice president of the
Munsey Trust Co., has returned to-
Washington, after a months vacations
spent at Goshen, n. Y.
r. II. Bagby, vice president Of the
| Washington Mechanics Savings Bank
is leaving the Capital today for his
| vacation. He will go to Norfolk and