Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-11-08
WEEKLY GAIN HERE
IN BANK CLEAR|NGS
Seasonal Advance in D. C.
Trade Indicated-SaIeS of
American Stores Co.
BY EDWARD c. STONE.

. Bank clearings in washington during
The past week amounted to SGT, 498 900,
q substantial gain over the previous
week when clearings totaled $50, 245, 600,
The total, however, was 1875 per cent
under the corresponding week a year
ago, which was also holiday week in
the local brokerage Offices. The report
indicates a good seasonal advance in
local pre-holiday trade, something
which has been expected for early
November.
While local bankers do not expect
that trade during the rest of the year
viii equal that of year ago, 1t is
generally believed that substantial m
creases will be shown in mercantile
business here until the end Of Decem-
ber This, of course, will be rejected
In increased weekly bank clearings as
the checks pass through the clearing
house
According to Bradstreets, clearings
FOR the whole country during the week
ending November totaled S8,6l6,769,-
600 compared with $685., $4,000 last
week and $17,240, 963, 900 a year ago.
an increase of nearly 3 per cent over
the previous week, but drop OF so per
cent over the same week in 1929.
American Stores Co. Sales.
In an analysis of the American Stores
Co. Standard Statistics says:
"Sales Tor 80 weeks ended September
n, 1890, closely Appropriated those OF
corresponding period a year ago, al
though due to a somewhat lower margin
az profit earnings are not on a parity
with those of 1929. Net for six months
ended June 80, 1880, equaled $1.75
common share compared with 1.81 for
IKE half of 1929 A slight improvement
may be anticipated in profit ratios Tor
final six months of 1880, but full year
income cannot be expected to equal the
S4.25 a share reported for 1929. How
ever, dividend requirements OF $3.50,
Including extra of so cents, payable
December /, 1880, will be amply pro-
tected. Recent financial statements are
not available, but condition at close of
1929 was sound. Cash and marketable
securities more than covered current
liabilities. Sole outstanding capitaliZa-
ton Is represented by 1,516,717 no par
common shares.
Operates over $500 stores in New
York, Pennsylvania, New Jersey, Della
ware, Maryland and District OF Column
bia. Conservative expansion program
practically all kinds Of groceries and
maintains eight warehouses strategically
located. Also operates, through sub
salaries, eight bakeries, milk evaporat-
ing plant and fruit and vegetable
cannery unit"
A. b. A. Division Active Here.
Why does the national bank division |
Of the American Bankers Association
maintain a Washington office? 1t is
for lobby purposes? Those two ques- |
lions, so often heard, are answered in |
this months bulletin of the District |
Bankers Association, which says:
THE national bank division formu- !
lates and effectuates plans for the ex- |
tension and improvement OF the busi- |
ness of its members In that field and !
serves as clearing house in the eco
Monies of banking
The association maintains a branch /
ONCE in Washington, under this division |
and through this medium renders serv-
ices to member banks Of all classes |
in connection with their Federal Gov |
eminent contracts, such as witnessing |
the destruction of cancelled currency, |
and the presentation of suggestions, |
complaints and claims before appro- |
pirate departments of the Government. |
THE division was active and sue |
cessful recently in opposing abandon
ment Of the national bank note circu-
lation proposed at Washington and in
having the notes reduced in size to
conform with the other new currency"
Years Of Plenty Assured.
HAMS Creech, president Of the Cleve-
land Trust Co, says:
Biblical history tells about the years
Of plenty followed by the lean years.
To-day we call them business cycles.
We have learned to shorten the lean
years, but the effects are still the same.
And they come over and over again.
Today, unemployed men and women,
experiencing lean days, are promising
themselves that "if good times ever
come back" they win work harder,
spend less, save more and provide more
effectively for the future. We who are
still at work. earning the same wages
as IN prosperous times (and that's about
30 per cent of us) are learning to live
within our incomes; to set aside great
er part of our earnings for the inev1ta-
able bad times, and to enjoy securely
good times when they are here.
well, better times are coming-as
they always do"
American Telephone Income.
American Telephone g. Telegraph
September operating income, S2,742,-
oil, as against $3,3o3 ,085 In Septem-
Der, 1929; for nine months, $24,e26,107,