Evening star., 1928-03-17
DROP IS REPORTED
IN BANK CLEAR|NGS
Week Sees Slump Over Most
of Country-U. S. Bank and
Other Dividends Voted.
By EDWARD c. STONE.


: during the week ending March Is wer
s2S.4Ss,o0o, revealing a decline from til
previous week when they amounted I
k27,629. 600 Ciearings here also wer
e2 per cent lower than they were las
year in the corresponding period.
Richmond had decline OF abou
$4,000, 600 from the previous week an
reported figure II per cent behind tn
same week last year. Baltimore. how
ever was $4,000. 600 ahead of the pre-
Vious week. although behind last year
The country as whole showed iiRhte
elesrings ;han in the preceding wee
and a decline from the totals for tn
same period last year. according 4
Bysdstreet'S Review.
Dividend Passed on Common.
An Associated Press dispatch fror
New York today says:
Directors of Continental Baking Cor
poraiion have omitted the Quarterl
dividend of 81 share on the class "A
common stock. A year ago the annua
dividend rate was reduced from $S 4
81, The action followed belief of TIL
directors that earnings for 1928 woult
be satisfactory, said NJ. lee Marshall
chairman but that a large amount o
cash could be spent to advantage IL
rehabilitating existing plants and ton
tinuance of this program should i'm
prove earnings.
The quarterly dividend OF So on tn,
preferred stock was declared. Amos L
Beaty. former chairman of the Texa
Corporation, was elected director.
Latest Dividend Action.
Ne fka YI,aif fofa
Savings Bank have Just declared theil
regular quarterly dividend OF 7is pei
cent. payable March 81. 1928. The
United States Savings Bank has cspi.
tai OF $i00 900. surplus of $l50.000
undivided profits OF about $l25 900. and
total resources of nearly $4,000 900.
The First National Co. of Baltimore
has Just declared a quarter dividend oi
i3a per cent on its preferred stock
payable April ! to stockholders OF
record March 90 Wade H. Cooper
president of the Continental Trust Co.
Is a director, and the washington ONCE
S under the management Of Col. 9. w
Pratt.
Would Aid Country Bankers.
With the purpose of considering
means for further strengthening the
ranking structure of the country by
increased cooperation among bankers,
especially in country districts, the
Clearing House Section, American
Bankers Association. will sponsor a
pecial conference at Kansas City
March ie.
The problem OF mapping out and
recommending definite plans for the
yrganization and operation of regional
clearing house associations of from so
20 rs banks. which will bring TO country
ranks the advantages long enjoyed by
city clearing house association men,
oers, VIII be a major topic Of discus
sion. The clearing house system Of
examinations has been In operation in
the larger cities more than 20 years
and has proved the best safeguard for
keeping banks In prime condition, and
bankers are convinced that this plan
may be adapted and made equally effec-
tive for regional clearing house asSo-
etationS.
Notes In Weird Of Insurance.
The Butterfeld theatrical interests in
Michigan. operating 73 theAters, have
devised q plan whereby people using
passes viii contribute 10 cents each.
the money TO be used In the payment of
group Insurance protecting the lives Of
the employees. Each employe is to be
insured for 81 900 and the money will
cover the entire cost.
Chronic heart disease Is by far the
most frequent cause OF death today,
according TO the annual report OF the
Mutual Benefit Life Insurance Co. of
Newark, Just nade public. The con-
slant strain TO which American business
men are today subjected is partly
responsible. Neglected infections. such
as those OF the teeth and tonsils. helm
70 sven the number OF deaths attributed
70 heart disease.
$ a recent court ruling says that the
board OF regents Of the University of
aannes polls has the authority 10 com
tract Tor group insurance for the
Iscuiiy and other employees. II ts
p!snneo TO insure several hundred peo-
pie IN this way. T
Announcement is made Of a beouest
o. 100000 70 establish an Insurance.
sn2n a. Johns Hopkins. the work to
similar 70 That carried on for years
~ tne University Of Pennsylvania.
New Jersey Debaters Victorious.
1ne Institute 6ebsters from Essex
Sounty. N. j., defeated the team from
6lcnmond at the Raleigh Hotel here
go M9nts 'ne ansir being In charge 0f
washington Chapter. with / ]. Poberts IS
pfesaoinE. The debate on fhe hae1
nletnocs o. city management vas highIv
snEftSln2ns. and the visitors had go,ne
s1ceIient speakers.
Inc Flrginians upheld the NEGATIVE
sFlo oi me argument while the .Jersey-
TT spoke IN The Affirmative. The Judges
Ae'e Associate Justice Charles n R0bh
n cc2f, o. Appeals Of the District
I5s2inp2s, President John Poole of
Ir xeceFal~Anericsn National BANK
,s..,. 80 re mona y. Dicksy, dean Of the
'1a,s ~ "a ne washington Chapter.
ne Ne" Jersey team was made I'm
% DAVID c. Kirk, Daniel L, Reider
enc Thomas n Wood. while fhs
I-1cnnlofid Delegates included a. c 81
FstETSon, Samuel Foster and J. Joseph
May The committee Of Waghtnot~r
IfaapIer. which mad charge Of The ar.
fAnEennenS for the debate and the
eSateftAiDnent which followed. yss
sDfnDpSto o' James A. soper, Lincoln
hsaions3 Bank, chairman: r. HuntOn
lem, security GsylngE and Commercial
.SkhE. hAA LOIS A. White. Federal.
5msFlcsn national Bank; Mrs. Helen
~. Ithec. Lincoin National and Franz
" Ptrley, American Security A. Tr,s,
previous " the debate the entertain.
rig cnsp1sT Esys dinner N the visitor,
snh oskcang followed the oystory.
sesthsrn's Business Gaining.
Fa3EfsK Harrison. president Of the
t19uthffn Railway. sailed from REV
T2rs foF Europe today Before his de.
psFtlre ne stated that business on fbe
f>DutffTn Is holding up well and ths
tHfioency is toward improvement. The
E91th IL showing marked indus,ris
progress bs asserted. end he snticips tes
ttlHt the Southern RAILWAYS es,,,ty,e,
viii show sn uD~sfd trend during ! Is,
remainder II the year
ELECTRICAL EQUIPMENT.
hEW YORK. March n f4,.-<,Ior
orders foF electrical apps rstus from IN.
NillIlY IItanflh n5ee llrnlInLai lie aoAal ii