Evening star., 1927-10-22
SLIGHT DROP HERE
IN BANK CLEAR|NGS
Business Reported Normal in
CapitaI-New Local
Railroad Office.
BY EDWARD c. STONE.

BY EDWARD {. STONE.
Washington bank clearings for the
week ending October 20 showed a
| slight falling off. being 26,915, 900,
compared with $2S S,074000 for the pre-
vious week and 40 per cent below the
| corresponding week year ago.
Richmond had q decline of about the
same proportions. Norfolk clearings
were also behind last year. but Balti-
more and enough other large cities
had gains so that the total for the
United States was we'll above the same
week in 1926. Bad weather was given
as one of the chief reasons for the
slump in some localities.
From information at hand business
in the National Capital is running
along at about the same rate as 1t did
last October. Merchants state that
real sharp cool spell is needed to give
trade the desired impetus.
Western Road to Open Office.
In order better to serve it's patrons
in the capital territory. announce
ment is made today by President Il.
w. Baldwin of the Missouri-Pacific
lines of the creation of a new office
in Washington. by the appointment
of J. w. Brennan as general agent OF
The freight and passenger department
Mr.. Brennan, before his promotion
to the Washington agency. was
travelling freight agent with head
quarters in New York. The new once
will become effective November 1.
Sectional Insurance Sales on.
September sales of ordinary life In
surance in the United states
amounted to S606, ,760, ,000--an increase
Of about $9,O0O,0OO over sales in Sep
tember. 1926. according to- figures just
issued by the Life Insurance Sales
ing the first nine months of the year
showed a gain Of 3 per cent over the
same period last year.
Sales of ordinary life insurance IN
the South Atlantic States show a
slight loss in September as compared
with the corresponding month or iast
wear. September sales in this sectlon
totaled 2,O94 ,O00--a loss OF / per
cent over September, 1926. South
Carolina leads this section as well as
all the States in the country with It's
gain of 33 per cent for the month.
Virginia Crop Estimates Jumped.
The latest weekly review by the
an increase in the estimates for Vir-
ginia potatoes Of about 1000 ,0OO
bushels. Most of the crop has been
shipped. The advance in potato prices
elsewhere in the country will be
great help to Virginia farmers who
have not sold their entire yield.
Prices in most Of the leading sweet
potato markets recently have been ad'
vancing. The department says that Vir-
ginia sweet potatoes have been selling
in New York at $2.25 and $3.50 per
barrel, an advance Of so cents over
two weeks ago, but the same as the
price year ago.
Dollars and Sense Appears.
The October number Of Dollars and
Sense, published by Washington Chap
ter, American Institute of Banking.
appeared today and is one of the best
numbers that have come out in a long
time. The present staff consists of:
Editor. Aubrey o. Dooley. Commercial
National Bank; associate editors, Will
liam M. Rankin, jr., Riggs National
Bank; Alice Fl. Whitton, First National
Bank Of Alexandria; Aubrey B. aCrter
Federal Seserve Board: business man.
ager, William E. Schooley, American
Security & Trust Co, and circulation
manager, o. Lehman, Security Saw.
ings & Commercial Bank.
The magazine blossomed out in
new cover which Is most attractive
and artistic, pictures in colors of the
Capitol and the Monument giving 1t
distinction Of its own. The leading
article is by Secretary Jardine on
'The Local Bank and the Farmer"
another highly instructive contribu-
tion being written by Robert J. Grant,
director of the United States Mint.
The national president, p. r. William,
and the local president. I. ]. Roberts.
present messages to the members. All
departments are represented and an
innovation is the publishing Of the
pictures of the members Of the present
faculty.
Other Financial Notes.
The regularly monthly meeting of
the Washington Bank Women's Club
will be held this evening at o'clock
at the Iron Gate Inn. It Is announced
that this is to be a closed business
meeting and that several new men,
bers may be selected.
Grayson Mp. Murphy of G. Mp.
Murphy & Co., has been added to the
board of directors Of the United
States and Foreign Securities Corpo-
ration.
The Atwater Kent Manufacturing Co.
Of Philadelphia has made reductions
averaging 20 per cent in all its radio
products, according to information re-
ceived here today.
The Washington bankers. who are
on their way to the A. B. A. conven-
ton, are spending today in New
Orleans as guests Of bankers and the
BOARD of Trade
Price of Tin Is Advanced.
It is unoff1cially reported at the
United States Bureau Of Mines that
the British and Dutch have obtained
control of the world s tin markets. The
action is said to have been taken as
a retaliatory measure because inter
ests in the United States control the
copper and sulphur markets. The
price of tin, which has been showing
an upward trend, is expected to go
higher. If definite information Is OBJ
tained showing that the tin market
really has been "cornered," the tin
interests in this country are likely to
make a protest so loud that it will be
heard around the whole commercial
world.