Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-08-07
CHECK CLEAR|NGS
GAIN DURING WEEK
Local Figures, However, Bit
Under Year Ago-0ther
Financial Notes.
BY EDWARD c. STONE.

BY EDWARD c. STONE.
Bank clearings in Washington for
the week ending on August totaled
S26, SOC 900, compared with sci ,416. 900
| for the previous week, but decline
of IA per cent below the figures Of
the corresponding week a year ago.
Clearings at Richmond were SAL
$4,000. good gain over the previ-
Gus week and an improvement of
more than per cent over the same
| week last year. Baltimore reported
total clearings of S136, $4,000, which
| is an improvement of nearly $50
! 00O, 900 over last week and consider
ably ahead Of the corresponding week
in 1926. Atlanta's clearings of $40,-
| $4,000 were IL per cent under last
| year and about 81 900 900 below the
previous week, according to Brad
| streets.
Clearings for the country as a
! whole, however, were $10,250, 900, 900
for the week. compared with the
| lower return Of $9,230.611 900 last
week. as we'll as being substantially
ahead of this same week Il year ago.
New Advertising Record Forecast
Judging by advertising appropria-
| tons for the last half of this year and
the first half of next year, another
record II months in the financial
field is forecast by Rudolph Guenther.
head of Rudolph Guenther- Russell
Law, Inc, Of New York Mr.. Guen-
Their said it is reasonable to believe
that the next ~ months will witness
ar Siy
space on a scale never before attained
in the history of American finance.
The effect of this advertising will be
to build up increasing confidence in
the securities issued by corporations
and will help to increase the army of
sound investors" Mr.. Guenther con-
tinued.
Shaviaone Opens New Offices.
President Joseph Schiavone of the
international Exchange Bank yester-
day put in operation a new service for
Italians and other Washington resi-
dents at Ais II street northwest, next
to the bank. AS previously noted the
special features are an extensive for
eign exchange department and
steamship ticket department. The
office will also assist in securing pass
ports for Italian-American who are
planning foreign tours.
The building in which the new
offices are located has been remodeled
under the bankers personal supervi-
sion so that the accommodations are
artistic as we'll as convenient. In the
rear of the building are located the
editorial and business Offices of the
Citizen, the weekly newspaper founded
and published by Mr.. Schiavone. One
of the chief aims of this paper is to
aid Italians in becoming familiar with
the laws and customs of this country
and is published in Italian and Eng
lish.
President Schiavone states that the
new bureau is entirely separate from
the bank. The organization is to have
a real estate department and several
of the employees speak a number of
different languages.
Office Building Space Increased.
Now that the first tenants have ac-
tually moved into the new Washington
Building and the National Press Club
Building, more or less concern is being
expressed in the financial district in
regard to the probability of keeping all
the Office buildings in the city filed
Several bankers have called atten.
ton to the fact that the demand for
offices has not grown recently, as there
has been no marked increase in the
business population. They are wonder
ing what will happen when the new
buildings are fully leased. The opin-
ion of most bankers and business men
is that rents in a good many instances
will be lowered.
422,671 A. T. Stockholders.
graph Co. has the largest number of
registered shareholders of any corpo-
ration in the world and more than the
aggregate number of stockholders in
the next three largest American corpo-
rations, figures reveal. The list shows
that A. L. & T. now has 1851 reg
istered shareholders, a gain of 1850
over last year.
There are 192,167 employees OF the
Bell System who are paying for 1872
1872 shares Of American Telephone and
Telegraph stock on the gradual pay
ment plan.
Latest Earnings Report.
The McCrory Stores Corpora ton
sales for July are $2,S5S,822, an in
crease of 1884 900 over July, 1926. Sales
for the first seven months of 1927 to-
tailed $19,S37,789, gain Of $3,1S0,414
over the same period last year.
For the first seven months of the
present year the +. w. Woolworth Co.
reports sales totaling over S136, 900 900,
compared with sales of $126,000.0 900 a
year ago.
The Nunnally Co. reports for six
months ended June 80, 1927, profit of
$52,347 after expenses and other
charges, but before Federal taxes,
against $123,163 in first half Of 1925.
Outstanding stock amounts to 100000
no par shares.
The United Drug Co has declared
the regular quarterly dividend Of S7A
cents on first preferred. payable
November l to stock Of record Oc-
tober Is.
Personal Mention.
Thomas w. Brahany of Crane,
Paris & Co.. will be back at his desk
tomorrow, after a two-week vacation
passed at Eaglesmere, Pa.
Vice President William J. Eynon
Of the FederalAmerican National
Bank left yesterday for his Summer
home at Eaglesmere, Pa. where he
will spend the next three weeks.
c. j. Gockeler, vice president of the |
District National Bank and secretary
of the Washington Stock Exchange. |
will leave here next Friday for Mar
gate City, near Atlantic City, N. j.,
for his vacation. Chris" is so en-
thusiastic over the resort that he
declares it eclipses Atlantic City.
Insurance Outing Arranged.
Underwriters Association will hold its
NI1yyrC OF