Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-01-31

ord and are almost
I'D to the December clearlngs, VINO
are usually the largest OF any mont
in the year because OF holiday trao'
The December clearings reached Sis
981.412.4l, a total which made clear
ings for the year 1928 smash all pre-
viouS records.
Hf17079, 936O2. the months cancele
checks two years ago beng silgnti
ahead of those of last year IN Decem
her The new record for the preSen
month will be highly gratifying t
Washington bankers and all bushes
interests. The figures are always take
as a more or less accurate trade ba
. rometer and indicate that 1929 IL
Washington is getting away to an ex
ceptionally good business start.
Trust Business Expands Enormously.
Growth In the trust field in the ma
tional banking system was brought on
in striking figures presented to loca
bankers by Aubrey B. Carter, who han
dies trust matters at the Treasury, II
his talk Tuesday night at the willard
he said:
1.-TWO thousand four hundred nationa
banks have trust powers, representing
81 per cent of the number and rs pc
cent of the capital of all banks In tn
national banking system During 1921
these banks were administering 63,77l
trusts. with individual trust asset
aggregating more than $4,000, 900 .OO
and were acting as trustees for bont
and note issues totaling cosa tx
$4,000, O00,0 ....
Compared with the year 1926 thes'
figures represent an increase of Al. Pc
cent in the number of national bank
administering trusts an increase Of IA
per cent in the number of trusts beinl
administered: an increase of 257 pc
! cent in the voume of assets OF lndivld
ual trusts, while the bond and mott
issues outstanding for which theS'
banks were acting as trustees aggregate
in amount four times that in 1926.
About one out Of every three bank
In the United States in the nationa
banking system has authority to admin
lister trusts, while in the District O
Columbia, 10 out of IL of the nationa
banks have qualified for this service.
Thirty per cent of the trust asset
being administered by the trust de-
partments In the national banking sys'
tenn are under the jurisdiction Of thu
courts, the remaining 10 per cent con
fifth district, which includes Washing
ton, $50 per cent are court trusts ant
"a per cent private trusts.
Substantial growth in the truS
operations of all the corporate fiduciarie'
OF the District of Columbia Is reflected
where per cent of the trust assets art
under the jurisdiction of the courts ant
% per cent constituting private trus
accounts"
Lanston Monotype Stock Strong.
In an interesting session of the Wash
ington Stock Exchange today, Lanstor
Monotype again sold at its recently
established high of 122. for 40 shares
It closed with 20-share sale at 12l7s
Washington Gas Light stock agar
changed hands at the new high of 125
the days turnover totaling 81 shares
Washington Railway preferred came ou
at 99ss and also at 9912. Capital Trac'
ton moved at 1861 and Potomac Elec'
trio 5h per cent preferred registered
1882.
Riggs National came out at STA, Co.
tumbia Sand & Gravel preferred changes
hands at 81 and Federal-Americar
Co. common at SIS. Bond trading wa!
confined to Potomac Electric Power
and Washington Gas Light issues.
Bank President Notes Birthday.
President Robert N. Harper of TIL
District National Bank was showeret
with congratulations today, the occasion
being his Sixty-eighth birthday Flower,
and cards also told the world that tn,
distinguished banker had reached an
other landmark.
In perfect health, Col. Harper remain
one of the most active bankers IL
Washington. He keeps the bank, which
he organized and has always been presi
dent of, forging ahead and at the sam
time finds time to serve as director ant
take. part In many other commercial
enterprises
President Harper is former head o
the District Bankers Association ant
for years was president of the Wash
ington Chamber Of Commerce. He ha
been director in the Washington Rail
way e. Electric Co. for many years, an,
also has taken intense interest in civi
affairs having served on committees II
connection with several presidential in
augurations. In the last political cam
palgn he was an ardent supporter o
Alfred e. Smith.
Although not connected with hi
birthday, Col Harper gave his annua
dinner to the officers, directors and al
the employees of the District Nationa
Bank at the Mayfower Hotel las
evening.
Fifth District Building Slumps.
Building contracts awarded in 3
Eastern States declined sharply durin
December, as in the preceding month
and were smaller than in any Decembe
since 1924. The decline from Novembe
was attributable largely. to decreases il
awards for residential building an
public works and utilities BY district.
says the Federal Reserve Boards dates
review, the largest declines over tn
preceding month were in the Cleveland
Chicago, Boston and Richmond Fedora
Keserve districts. while increases wer
reported In the New York, PHILADELPHIA
and Atlanta districts. -
Department store trade showed great
er activity in December than in tn
preceding month, after allowance |
made for the customary holiday in
crease. Total sales for the month wer
the largest on record, exceeding De
cember, 1927, by / per cent, althoug
there was one less trading day this veal
increases over year ago were reports
Tor the New York and Philadelphia dis
trlctS, while substantial decrease
occurred in Atlanta and Minneapoli.
Distribution at wholesale declined sea
sonally and was smaller than a year agt
Freight-car loadings in December an
the first half of January showed
slightly larger than usual seasonal re
duction, but, as in earlier months, wer
above year ago.
Heard in Financial District. :.
Howard Moran. vice president of til
American Security & Trust Co. an
former president of the District Bank
ers' Association, Is on an outing /
Florida.
American implement exports in 1872
made new high record of $116,6l5,24'
according to Commerce Department
NJ total is t25,ss8,3ls greater tina
ssse 1927 total