Evening star., 1928-03-10
BUSINESS BETTER
DURING PAST WEEK
Local Bank C|earings Above
Last Year--Several
Dividends Voted.
BY EDWARD c. STONE.

For the first time in many weeks
Washington bank clearings snow an in
crease over the previous week and over
the corresponding week in 1927.
! Local clearingS for the week ending
March were $27 $40. 900. compared
with $26,2s6.000 for the week ending on
March /. and an increase of 2.6 per cent
over the same period last year.
Richmond had gain of more than
$4,000. 600 over the previous week. but
was just under l per cent behind last
years totals. Baltimore showed de-
crease over the previous week and also
was II per cent below the clearings
Of the same week last year,
ClearingS for the country as whole
according to BradStreet's. were ahead
of the previous week and better than
! last year. Canadian cleahings also
were up.
The latest report by the Department
of Commerce states that the dollar vol
une of business is gaining each week
although lighter than a year ago. The
general level of wholesale prices is
above the previous week and the COR
responding week year ago.
Several Dividends Declared.
| The board of directors Of the N. Auth
! Provision Co has declared the regular
Semi-annual dividend of 3 per cent and
/ an extra dividend of ! per cent TO
! stockholders Of record on March 26
/ This dividend is the fifty-sixth dividend
! to common stockholders. the company
having paid regular dividends for %
consecutive years. The results for 1927
were very gratifying. the company hav-
ing one Of the best years in its history.
The company now Is issuing a limited
amount of Z per cent cumulative
preferred stock for further expansion.
The directors of the Farmers e.
Mechanics National Bank. in George
town. have declared the regular qua,-
terlv dividend of SO per share. according
10 announcement by the president.
Harry v Haynes. The dividend is pay
able April 10 stockholders OF record
at the close of business March %,
The Southern Railway has declared
the usual quarterly dividend If 81 per
share on common. payable May to
stock of record April ,, also the quarter
" dividend of sl25 per share, payable
April Is 10 stock Of record March 20.
Fifth District Farming Conditions.
William II. Hoxton. chairman Of the
Richmond Federal Reserve Bank. sums
I'D agricultural conditions in this dis
trict as follows:
There IS little activity on farms at
this season of the year, and this year
the weather was unfavorable for out
side work between the middle OF JAM
uary and the middle of February. The
cold temperatures were favorable for
fruit trees. but on the other hand
Winter grains were damaged in some
cases by hard freezes. The soil is in
good condition for work when warm
weather comes In nearly all sections
of the fifth district there has been
plenty Of rain to give the ground
good supply Of moisture,
There is an effort being made by
agricultural leaders 10 prevent acreage
increases in cotton and tobacco this
year. Fertilizer prices are said TO be
much higher than last year, but since
comparatively little fertilizer vas used
in 1927 many farmers will have TO in.
crease their tonnage this year II pro-
duction is 10 be kept up. Most of the
farmers Of the fifth district are in bet
ter position to begin the years opera |
tons than they were year ago.
"On the whole. crops last Fall |
brought more money than those of the |
preceding season, and in addition yields |
of both food and feed crops were good" |
Notes in World OF Insurance.
In denying recovery in Cameron rs.
Martin. the United States Supreme
Court declares that paid-up life insur-
ance policies cannot be attached for
debts o. the person upon whose appli-
cation they we're issued.
The Masonic organizations OF Lincoln.
Neb.. are considering a novel use OF life
insurance in planning the financing OF
a new temple The plan provides that
each OF the 1000 MaSons advance $3.50
TO the building fund.
Rhode Island has the unique distinc-
ton Of having twice as many ordinary
and industrial policies issued on the
lives of its citizens as there are resi-
dents OF the State including every man, i
woman and child.
Earnings OF 10 leading insurance COM
panies which have reported for the year .
1927 total $63.0i2.600 compared with
s29. Gel 900 for 1926. an increase OF
$685., 600 or li0 per cent. according
10 a compilation Of Gilbert Elicit IL Co,
bank and insurance stock specialists.
This total represents new high earn
ingg record for companies in this field.
Southern Diaries Comparisons.
Additional details in connection with
the annual report Of Southern Diaries
Inc, shows that the net income for
1927 Is equivalent 10 50 cents a share
earned on the !s2 500 shares o! no par
Glass A stock. The consolidated account
for 1927 and 1926 show these cOinpari-
sons:
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