Evening star., 1928-04-01
BANKS CLEAR|NGS
INCREASE IN MARCH
Interesting Bankers Conven-
ton at Montauk Point, L. l.,
Is Held Assured.
BY EDWARD C. STONE.

BY EDWARD G. STONE.
Using bank clearings as a barometer
business here in March was ahead of
the same month In 1927. and also bet
ter than in February of the present
year. According TO the figures kept by
the Washington Clearing House Asso-
citation, total clearings for the month
ending yesterday we're 1922. .234 .990.02
compared with $121 .510.442,47 for the
| corresponding month last year and
| $120 .498. .000.03 In March, 1925.
Clearings we're we'll ahead of Febru-
ary's total of $103.495 .52449 and also
of the January summary OF $l14,408,-
5000. But while the March figures
| indicate that business In Washington at
present Is slightly better than it was
year ago, yet the total clearings for
| the first three months of the year tell
slightly different story.
The volume Of checks passing through
| the local clearing house In January,
February annd March amounted to
| $340. .189, ,34743 against the sum Of $341.-
933, 3,457.93 in the first quarter Of 1927.
The slump, however, Is so slight that
| 1t can easily be made UP and passed
during the next three months.
| It has been reported here for some
time that business is spotty. as 1t Is
|
is running along almost the same as
last year.
Convention Plans Advanced.
Plans of the various committees ar
ranging details for the tenth annual
convention Of the District of Column
bia Bankers Association have reached
a point which has convinced the gen.
eral convention chairman, E. j. Nc
Quade, that nothing more Is to be de-
sired to insure the most interesting
meeting in the history of the associa-
tion.
A special all-Pullman train with OBJ
servation club car will leave Union Sta
ton at 9 o'clock the evening Of June 6,
arriving at Montauk Beach at 6 am.
Nathan WE'LL, assistant passenger agent
of the Pennsylvania Railroad will be
In charge of the train, while Lawrence
A. Slaughter. vice president Of the
Commercial National Bank. and hts
transportation committee will be on
hand to see that every comfort and
convenience Is afforded the money
lenders and their guests.
Members or the association have gen.
orally expressed satisfaction at the Sc
lection of Montauk Beach for the con-
vention. With the exception OF two OF
the early conventions. one of which
was held at Deer Park and the other
on one of the Norfolk e. Washington
steamers, the conventions have been
held at either Hot Springs or White
Sulphur. 1t is regarded as a most
happy determination of the committee
in It's desire to provide change OF
scenery to secure the new and palatial
Montauk Manor Hotel. built and oper-
ated by Carl g. Fisher, pioneer de-
veloper of Miami Beach.
Strong Program In Making.
The hotel, of picturesque Tudor de-
| sign, Is located at the extreme eastern
| end of Long Island. on high ground
commanding views Of the sound, ocean
/ and the Montauk Downs golf course.
| Built of fireproof construction. the hotel
| has more than 200 rooms with private
baths With three dining rooms. dining
| porch and grill the loan eagles are as
sured of every opportunity to maintain
their well fed appearance.
| John M. Riordon. executive vice
president of the Bank of Commerce and
Savings, chairman of the program COM
mittee, promises to bring before the
convention. for It's consideration. two
problems Of timely and vital import
ance not only to local bankers. but of
| serious moment to bankers generally
| throughout the country. The conven-
tion will be addressed by men from
cities which have made progress in the
solution of these problems and who are
! qualified by experience to speak with
authority.
| The business of the convention viii
be confined to the morning hours,
leaving the afternoons and evenings
| free for enjoyment of the many enter
tainment features which are being
planned by Thomas w. Brahany and
his committee.
Special attractions have been plan
ned for the ladies, as usual including
the novelty of boat ride on the sound
Richard VI Hynson. district manager
OF the National City Co. of New York.
has the distinction Of sending in the
first reservation.
Throngs Visit Trust Company.
, The public inspection OF the new 10
story addition TO the Washington Loan
& Trust Co. together. with the many
changes made in the original bank.
drew throng OF visitors throughout
Yesterday afternoon and early evening.
John Joy Edson. chairman of the
board OF directors, was active In greet
ing host of friends who dropped into
the bank. John b. Larner. the presi-
dent: the entire oiicial staff and many
directors also welcomed the visitors.
| and In turn received most hearty con-
| gratulationS on the new banking quar-
ters and their complete facilities.
The banking rooms presented
handsome appearance yesterday. the
floral decorations being In splendid
taste and very profuse. In addition to
the general decoration scheme carried
out by the bank. a great many indi-
vidual pieces from business associates.
firms and other financial institutions
added much to the attractive scene.
The officers and directors include John
B. Larner, president: Andrew Parker and
Harry @. Meem, vice presidents; Ar
thur Peter. vice president and gen
eral counsel: Charles II. Doing, vice
president In charge of branch:
Charles r. Grant, treasurer: William
H. Baden. trust officer: Alfred H,
NJ. Mason, George NJ. Fisher and
Herbert NJ. Primm. assistant treas
urers;' Leonard Marbury. assistant trust
officer.
Directors: John Joy Edison. chair
man of the board. and John IL, Clapp
Frederick v, Covilie. Augustus Crane
Floyd E, Davis. James r. Ellerson. Jr.;
L. Whiting Estes. Albert r. Fox, Elliot
II. Goodwin, Melville b, GroSvenor. Hol-
comhe q. Johnson. John A. Johnston.
8. IL. kauffmann. Carl b. keferstein,
George A. King. J, Leo Koib. John h,
Larner. John C. Let's. Harry O.
Meem. Theodore w. Moves, Andrew
Parker. Walter s. Penfield, Arthur
Peter, Harvey w, Wiley and Donald
Woodward,
Local Securities Divide Honors.
Washington Railway & Electric pre-
ferred and Merchants Transfer &
Storage preferred divided trading hon.
ors ON the Washington stock Exchange
yesterday exactly So shares In each iS~