Evening star., 1926-03-17
BANK CLEAR|NGS :
MAKE LARGE GAIN
First Two Weeks of March
-.
$13,000,0 900 Above Same
Period in February.
BY EDWARD C. STONE.

first two weeks in March showed an
increase of more than s13,000.00t,
over the same period in February
according to the figures of the local
clearing house association. AS CAM
celled checks passing through tina
clearing house are considered thA'
best barometer on retail trade ano-
general business conditions, tho:
figures are considered highly inter9r
esting and important. These re-
suits are the more surprfsines
inasmuch as business is reported II
be passing through seasonal lull an
over the country. ~
The clearing house figures are to-.
tailed weekly rather than on the
middle and last of each month. Fo,T
the week ending March 6. bank
clearings reached a total of $780,
SO2.2S, and for the week ending Feb2r
ruary 6, $2S,859, ,34413. making a conc.
pardtive gain for the first week in
March of $10.490. .45S.15. For the sec
Ond week in March ending on the
18th, bank clearings totalied $27.065,
GOo.86 against s23,733.5S219 for the
same week in February, gain ~
s3,332,02367
this month. therefore. show a gain %
s13,S22 ,4S1.S2. most of which is un1
doubtedly due To decided improvement
i'll business activity.
Trading on Local Board D..
Trading on the Washington Stock =
Exchange today was moderate in vol. d.
ume, but held considerable interest,":
Lanston Monotype maintained its res-
cent strength, one sale being recorded
at SO. Thirty seven shares of stock OF
the Capital Traction Co. changed
hands in three different transactions
at Ill. unchanged from other recent
sales.
Potomac Electric Power preferred
interim certificates came out on one
sale at l051a. Three shares of Riggs
National Bank stock were sold at 4S0
after which two 10-share lots were sold
at a decline of points. making 47i
the closing figure,
Merchants Transfer and Storage
preferred sold at ar and a half. Five
shares of National Bank of Washing
ton stock exchanged hands at 303.
In the bond division Capital Trac-
tIon 5s brought ZOO in one SO, 900 block :
New Savings Bank Bureau.
Savings bank interests have Just
organized a Bureau of Savings Re
search, with headquarters in New
York. and Harold q. Moulton, directoi
OF the Institute of Economics, =;
jackson place. this city, has been
made member of the advisory coun--
ell. The director of the new orga MIA
ton is DR.. w. II. Steiner, with office
at ii East Thirty sixth street. New.
York
The object of the bureau is to stud.
! the development of savings and III:
current problems of savings bank
a 1,1. i,..to n Z ho
| and the savings department The>'
J problems include technical operatin..
matters. investments and investme4 =
| poiIcleS. savings development plans -
! and service work and legislation. The
! bureau aims TO serve as a ciea
house Tor information. which will be-, 4.
available TO members on request. Ia.
seeks also 10 analyze important cur, :
rent developments and prepare ma
| terial from time to time embodvin,
the results Of its investigations
! stock Increase Voted.
/ Stockholders of the Mercantita..,
! Lynotype Co. yesterday approved the,'
! plan to change the capital stock from,
| 500 par to no par value and l.,
! Increase the authorized shares to-"
100000 from $50 900 for exchange ON
| the basis of two shares of new no pai.
/
| Certificates of rhe new stock Will
be ready for exchange about April l..
| Effective on that date, no further
transfers of the stock with par value
will be made. After that date all stock,
presented either for exchange or foi
! transfer will he reissued in the form %.
/ certificates of the new stock.
The announcement is of great in
/ terest to Washington, as large
| amount of the stock is held locally.
1t is listed on the Washington Stock
Exchange. and there is extensive trad-s
lng@fn II. More than 80 per cent Of
the outstanding stock was represented
/ in the voting at Brooklyn YESTERDAY
Will Head Mortgage Company.
Fernand Petit. vice president of the
Merchants Bank and Trust Co. has
| been made general manager of the
Mortgage Bond and Guaranty Co, and
VIII begin his new duties on April
MIR. Petit wilL.- however. retain his
position, at the. bank. with which, he
has been connected since its recent
consolidation with the Citizens Sav,
lngs Bank. He is widely known in
both banking and real estate circles
| and has long been active in .i.4 affairs
OF the District Bankers Association.
The concern which he will now direct.
was two years old on March 2. and is.
reported by Harry A. Kite, the presi !.
dent, to be in excellent financial con
dition.
Establishes Boston Branch. s
The F. II. Smith Co. of Washinrton.
has established branch in Boston :
Samuel II. Cross. formerly American
commercial attache at Brussels and :
, The Hague, and recently chief of the
European division of the United States,
department of Commerce. has been.
appointed manager of, the Boston:
| branch.
The company now has branch of
| fees in New York, Albany. PhiladeI.
phia Pittsburgh and Minneapolis.
| Freight Revenues Gain. :,
Loading of revenue freight for the
week ended on March totaled 964.6Sl
cars, according to reports filed here
today by the carriers with the Ameri,-.
| can Railway Association. .
| , This was an increase of 53023 cars
| over the preceding week when freish, !.
| shipments were reduced somewhat due.
! to the observance of Washington =
Birthday anniversary. Compared witt
the corresponding week last year, the &
| total for the week of March 6. waS :
an increase of 32,637 cars and an ip
crease. of $4,000 cars over the CORE .
| spending week in 1924. = -
Except for coke and ore. increa Sc
over the preceding week were reporte ::
in the loading of all commodities !
Soft Coal Output Jumps.
| According to statement issued /.
| day by the Bureau of Coal Economi
| of the National Coal Association, a., ,
production of bituminous coal durius I.
| the week ended March 13. for the frs
time since the settlement of the an
thracite strike, showed an increas.
over the total for the preceding week