Evening star., 1926-09-18
BY EDWARD C. STONE.

Richmond reported a decline In
bank clearings of 15.4 per cent dur
ing the past week. as did Baltimore
and many other cities in the United
States. Clearings in the leading
cities amounted to S8.94l 1858, 900, a
loss of 40 per cent compared with
the same period year ago. Only
Boston. Pittsburgh and some of the
Western cities showed gains. One
reason assigned for the weeks de-
cline is the fact that there was ex-
ceptional activity in September, 1925,
when payments through the banks
surpassed any previous records. The
most severe decline for the week was
in Atlanta. which reported over 81
per cent, the Georgia city missing
the very great activity taking place
down that way last September. due
to the Florida boom.
The Department of Commerce
however reports that trade condi-
tions over the country showed con-
siderable Improvement over the sec
ond week in September last year.
The statement is based on the dollar
volume Of trade. distribution of mer-
chandise measured by car loadings,
new building contracts, output of
coal, coke, petroleum and loans
made by the Federal Reserve mem
Der banks.
Insurance Men to Meet.
\. f. Ellsworth, superintendent of
agents of the Acacia Mutual Life AS
Sociation of this city, will preside over
Il regional conference of branch man
ayers and agents of the Middle Allan
tic States at Philadelphia Monday
il was announced at headquarters of
the Masonic insurance Co. today.
Superintendent Ellsworth will re
view the progress of the association
and urge renewed efforts to make the
last half of 1926 as successful as the
first six months. Acacia sales dur
ing the first six months were at rec
ord breaking levels. while in July
they reached the figure of $4,154, 400.
Recent additions to the official staff
Of the assOcia ton include DR.. ID. NJ.
Shewbrooks. associate medical direc-
tor, and c. l.. Kirk, advertising mana
ger. DR.. Shewbrooks was formerly
with the Lincoln Life Insurance Co.
Mr., Kirk is Fort Wayne, Ind, man.
Financial Horizon Clear.
Moody's Weekly Review says in
part:
"A good Investment demand is
prices have lately made a new high
record; and there are evidences of
steady public absorption of stocks.
Money rates are creeping upward
faster than is usual for this sea son.
Commercial paper discounts have
lately risen above all quotations back
to April, 1924. This rise, unless it
crosses AS per cent or thereabou
does not look like much OF Il bear
point; and, on the other hand, there
is fair chance that it may do this
before the 1St of November.
There are many signs of stability.
but the market quite frequently
changes it's trend around the middle
of November. On the one hand,
there is no reliable mode of estimat-
ing the duration of this distributing
market, and, on the other, there
seems to be nothing Immediately
threatening in sight
New Investment Medium Found.
A new medium for the investment
of funds has been developed on large
scale in this country during the past
two years through the financing of
privately owned toll bridges. according
TO a survey just completed by A. G.
Dent. vice president of the invest
ment banking firm of Peabody. lIough-
telling & Co. Approximately $25.000,-
900 was.raised in the investment mar
kets during recent months for the
financing of new projects and it is
estimated that privately owned toll
bridges representing an investment of
approximately 500 100000 are con-