Evening star., 1926-08-14
INCREASES SCORED
IN BANK CLEAR|NGS
Weeks Gain To- Per Cent.
Local Banks Expand-0th-
er Financial Notes.
BY EDWARD c. STONE.

/ ing cities in the United States aggre-
| gate $3.50 .o33 900. a gain of 1876 per
cent over the figures for the corre-
spending week of last year. At New
York city the amount for this week
is S5.3l9, 900 900. which Is 1914 per
| cent larger than that of year ago.
! Boston also shows a gain of l6.4 per
cent Including New York and
Boston. there are Is cities showing
| increases this week. and seven whore
! bank clcarings are less this year than
| they wore a year ago.
| Losses are reported at Philadelphia.
Baltimore. Omaha. Minneap polls and
some of the Southern cities. At cities
outside of New York, total bank
clearings aggregate $3,321 ,o33 900. or
2.5 per cent in excess of those OF a
| year ESQ.
! Bank Improvements Progressing.
| EXcavating has been commenced
| for the large addition TO he construct
cd by the Washington Loan and TrusQ
co. at Ninth and F streets The an.
mex will give the hank about double
the floor space that 1t is now using.
| The building is TO be completed with.
! in year and will be one of the finest
of it's Kind in Washington.
The extensive changes and improve
ments being made on the exterior
and In terror Of the Bank of Com
merCe and Savings, at Seventh and F.
| streets. are progressing rapidly. When
| completed the bank will have more
lobby space. much more convenient
cages. n new room for the directors
on a mezzanine floor and a very at
! tractive-appearing front.
| The new building OF the Perpetual
| Building Association at the corner az
| Eleventh and y c< tc
making very rapid progress. Work
| has gone far enough TO show that the
| building is going 10 be a very hand
some structure and will furnish the
! large increase in space required for
carrying on the company's business.
| Present Exchange Officials.
1t is expected that nearly all the
| members of the Washington Stock
| Exchange will have returned to the
| city by September Is. the date set
| for the election of n president to fll
! the vacancy caused by the death of
John l.. Edwards. The official roster
/ as it now stands is made up of r. F..
/ CTauchton, vice president: g. j.
| GOckeler, secretary. and George -.
! Watson. treasurer. The present board
! Of governors includes Eugene T..
/ Thompson. chairman. G. C.. Glover. jr.;
/ George q. Watson, r.. T.. Claughton,
/ c. j. Gockeler and Edward l.. Hillyer,
/ The new president. by virtue of his
/ Office. will become n member OF the
| governing board.
! The death of Mr.. Edwards leaves
! an opening for another member TO be
/ admitted To the exchange, as the con
| stitution allows 40 members
/ Bank to Open Childrens' Window.
The Mount Vernon Savings Bank
7 IL hf,t a
| square feet of space in its building
AZ Ninth and Massachusetts avenue
/ i'm order TO accommodate steadily e1-
I handing business. The new space is
| on the street level on the Ninth street
side and is now being so arranged
| and decorated as to harmoriHe with
+ he present banking quarters.
! Three new windows will be opened
/ and one Of these will he specially
constructed for the use of children,
/ having n platform in front of it which
| will assist the Young folks in transact
/ ing their business. This bank has
long made q special drive to interest
/ children in thrift and President VIII
liam Muehlesen believes the novel
| window will make great appeal tn
them. The christmas savings funds
| and the Vacation club savings viii
also be housed i'm the new part Of the
bank. The new quarters will be ready
| about October I.
Land Banks Assets Increase.
Reporting the progress Of the So
Joint Stock Land Banks for the year
ending June 50. &. g; TAYLOR & Co
Inc. quote official figures to show
! total assets of $64S24S127. an in
crease uf $?4, 33 943 for the year.
Net mortgage loans in force for all
Joint Stock Land Banks increased
SOS 416. 600 to y total of $500, 80 So
| for the year ending juno 80 In tho
same period bonds outstanding In
creased SS@ 600 600 tn n total Of SSH
4760oo. Indicating Il net increase In
mort gage assets over bonds for the
period Of approximately SI1 100000
THE cash poSition nf the hank In
creased $901 900 TO Il total Of S1S. 465.-
036 on June 50, 1926. Capital stock
increased from S3S. .3Sl 400 in June.
1875. to S43. .494 ,020 in -Iune. 1925.
while surplus reserves and undivided
profits for the same period increased
from $S,3S9.246 To $1t. .513.oSJ. Com.
parative figures follow:
Record Of Weeks Failures.
\ slight decrease in the number of
failures in the United states is re.
ported to Il. q. Dun & 90. this week.
the total being 371. This compares
with 37J defaults last week. but -
above the 3l9 defaults Of a wear age.
Fewer failures occurred this week
than last week in the South and tho
West. these reductions more than off
setting increases in the Fast and ou
the Pacific Coast.
July Building Permits Decrease
\ decrease of about ~ per cent in
he value of permits foF~ SSNv huid
ing issued in the United StatSN during
July is accounted for mainly S0 tho
smaller total for Greater New Yort,.
Outside of Greater New York. che
value of last months permits Is ~
tie more than I per cent under tha
figures for wear ago. SI73,5491oo
comparing with S175. 5.896.400.
Lamborn Takes Vacation
g. e. Lamborn. treasurer of the
National Savings and Trust Com
panv, is motoring to New Hamp
shire, where he will spend n vaca-
tion extending To- the end Of the pres
ont month.
Directors Of the J. j. Newherrv Co
operators OF chair stores. declared
stock dividend OF 300 per cent ~ the
common stock. The dividend is pay
able september /. to stock Of record
August % Notice Of dividend decla-
ration has been sent 10 all stock
holders.
The preliminary earnings state
nent of'the Norfolk & Western Rail
way for July estimates surplus. after
g. charges. Of approximately SO. So 600.
! equal 10 $22S a share on the common
. stock.