Evening star., 1926-03-31
BANK CLEAR|NGS
SHOW HUGE GAIN
Business of District lnStitu-
ti0nS in March Sets
New Record.
BY EDWARD c. STONE.

BY EDWARD &. STONE.
Bank clearinss in Washington for
March exceeded the marks of Febru-
airy and January, Indicating that bust
ness here has been increasing steadily
during the first three months OF the
year.
Total clearings for March announced
today by Charles T.. Bright. manager
Of the Washington Clearing House
Association. were 120,49S. 1893. In
February they totaied $112.S53. $40 so
and during January they reached the
total of $99 ,026.075.02. The figures,
therefore, show a gain In clearings OF
$7,645,73S.
The figures for the month now clos
ing also show a gain in clearings OF
nearly $40, 1000 900 over the same month
year ago. when the March clearings
were $110.920979. The clearings are
naturally behind those of last Decem-
Der, as the Christmas period comes in
thar month report.
The increase in the Cle1rings for the
past three months in Washington is
in keeping with gains in ciear.ngs in
other cities which have just been
reported. The clearings for the three
months are 1882. 2.27S .302 s..
Mergenthaler Linotype led in vol
ume Of trading on the Washington
Stock Exchange today, 80 shares
changing hands on two transactions
AT 206. the recent prevailing price.
Washington Gas Light opened on two
sales at 50 and then sold off to 6Sh4
on three transactions involving IL
shares. Washington Railway < Elec-
| trio preferred registered so on two
transactions. while 80 shares of Ma
! tional Mortgage & Investment pre-
/ ferred sold at Sa4 LanStOn brought
! S0ai on one transaction
In the bond division Potomac Elec
| trio Power IS opened at 1862 and
advanced TO 1864. ID. G. Paper 6s
| stood at Sc. while Washington Gas Gs
| recorded one sale at 103l4
Vote TO Close Friday.
| The Washington Stock Exchange
| voted today 10 close on Good Friday
/ but will be open as usual on Saturday.
! The local boardrooms win be closed,
| as the New York Exchange closes.
The Washington banks, however.
! will be open for business as usual.
! At the meeting of the board Of di-
rectors of Southern Diaries, Inc, in
| New York announcement was made
| that since the new Miami plant was
/ opened 10 days ago the company's
ice cream business had more than
doubled in volume
| At the meeting the regular quar-
terly dividend Of 81 per share was de-
clared on the class "A" stock. pay
able April 80 to stockholders of rec
ord April Is.
Charles d. Bower announced today
that f.. j. NcQuade of the Liberty
National Bank and John NJ. Riorden
Of the Bank of Commerce and Saw
ings will be the radio speakers next
Friday night in the local educational
campaign.
Local Store i'm New Chain.
Lehman Bros. today are Offering
an issue of 81 900, 900 Consolidated
! Retail Stores. Inc. per cent cumu-
lative preferred stock, carrying com
mon stock purchasing warrants.
priced at 500 per share and ac-
crued interest. The warrants entitle
the holder at any time before April
| /, 1895. 10 purchase tcomnetI stock
at s37.56sa share at the ratio of one
share of common for each share OF
| preferred stock held. The chain store
concern will operate Ia stores dealing
| in women's apparel. Phillipsborn in
| this city being one of the stores in
| the list. With one exception. all are
! to be owned through subsidiaries.
| Essay Rules i'm Detail
| Rules for The coming essay contest
| conducted by the District Bankers
! Association state that the contest is
| open to members of Washington
I Chapter who are employees of banks
which are members of the District of
! Columbia Bankers Association. The
/ papers must not exceed 1000 words
and must be in the hands of Miss
| Bromley, assistant secretary of the
| association, Masonic Temple Build
! ing. by May !. inclose the paper in
a sealed envelope upon which is writ
ten Essay Contest" and attach TO
! this envelope another sealed envelope
containing name Df contestant.
! The prizes will be trips 20 the con
vention of the Bankers Association
TO be held in June and the oppor-
| tunity 10 present the papers before
| the convention. Each member bank
! has agreed to pay the expenses to
the convention of any employe who
writes a winning paper. The contest
| is open not merely to student mem
bers, but to all members of Washing
ton Chapter employed in member
| banks
| Dame Denies Bond Rumor.
| +. Il. Dame, president of the North
American Co. has issued a statement
in New York deploring the many wild
rumors which have been started dur
! ing the present stock break and de
claring that his company has no in
! tention of selling bonds to finance it's
| 1926 program.
! 1T is not true and is so absurd
| that il is hardly worthy of denial. -
! Mr.. Dame said emphatically. 1T is
| but one of the many malicious rimors
circulated in connection with the re-
! cent market depression. There is