Evening star., 1932-01-31
DECREASE IN BANK
CLEAR|NGS SHOWN
BY JANUARY TOTAL
Manager Bright Reports Fig
ureS for Month Were
Se2,855,736.
WARM SPELL DECLARED
REASON FOR SHRINKAGE
Merchants Hope for Better Busi-
ness With Advent of Visitors
to Bicentennial.
BY EDWARD C. STONE.

ol Ell w EtND ~ otoANIs
Total bank clearings in Washington
for the first month of 1882 became
available yesterday when the Washing
ton Clearing House Association made
its monthly report, the figure being
lower than in January year ago.
January clearings amounted to $92,-
855, ,736.29 in comparison with Sl09 1884,
61434 in January, 1881, Manager
Charles E. Bright reported, and with
S10l, ,680,373 in December, which, OF
course included Christmas trade.
ClearingS were ahead of last No
vember when the number of checks
cancelled by the local clearing house
totaled $91 ,5468 84682. The reason for
the slump in clearings in January OF
this year, compared with January
year ago, is laid largely to the warm
weather which has so interrupted trade
in Winter goods. Both these months
experienced the same mercantile lull
after the holiday rush.
Merchants, however, feel sure that
there will be come colder weather dur
ing the remainder of the Winter and
that they will make up part of the
trade they have so far lost They are
also looking for the first of the visitors
in connection with the Washington
6lCeNJGIlIlldl CeSUIdIIOIl " DSS4ll W
spend some money here in February.
ClearingS in February last year totaled
S96,742, ITS and in February 1880 were
S96,545,2l2. With only modest i'm
provement in business conditions, both
those figures could easily be surpassed.
Yesterdays monthly report will cause
little surprise. Weekly reports from
almost every large city in the country
have revealed a falling off III bank
clearings. In the week just closed,
every big city in the United States re-
ported that clearings were lower than
in the same week last year. No doubt
the monthly reports from other cities
will show that Washington clearings
are not down nearly as much as else
where, especially in the leading indus
trial cities.
Racquet Club Bond Committee.
Holders OF the first mortagage 7
per cent bonds of the Racquet Club,
which defaulted in interest January /,
1882, met yesterday afternoon in the
club to consider what steps should be
taken to protect the interest of the
bon0holders. There were present 35 in
dividuals, representing $335,00 par value
of bonds The total amount of bonds
outstanding is $575,000.
After considerable discussion COM
mittee of five was appointed to make
a survey Of the situation and report to
the bondholders at a meeting to be held
in the club rooms February is at 430
pm
The committee includes w. C. Sulli-
van, Y. E. Booker, w. Wallace CHS
well, Allen MacCullen and H. r. Haw-
thorne of New York
Merganthaler Linotype sold higher on
the Washington Stock Exchange yes
terday, closing the week at SO. A block
of so shares of Capital Traction came
out at 10, the stock selling at Is
higher on smaller sales before the
close. Potomac Electric Power 5l2 per
cent preferred was again strong, COM
manding 104.
In the unlisted department Mayf1ower
Hotel 6s showed a little more strength,
the bid price being moved up to 20 with
25 asked. The bid on Metropolitan
Club 412s was lowered from 80 to 88.
National Press Building first 513s were
quoted a bit lower, SO being bid in
stead of 40 and Al asked in place of
43. The bid on Connecticut Pie Co.
was made 100. Yesterdays sales:
Mergenthaler Linotype at So, 4
at SO.
Washington Gas 6s "A"-$5OO at 100,
s1 900 at 100
SdplUdl 4ldCCAOl1 W. Nv oG 4ob y
at 1873, at 1873.
Potomac Electric 51a per cent pfd.
lat 104, 5 at 104, at 104, 3 at 104,
2 at 1O4.
e924.
Bankers TO Welcome Guests.
I. ]. Roberts, chairman Of the COM
mittee planning the twenty-eighth an
nual banquet of the American Institute
of Banking, which takes place at the
Willard on Saturday, February 13, has
appointed the following the Reception
Committee:
T. Hunton Leith, assistant cashier,
Security Savings g. Commercial, chair
man; Francis G.. Addison, jr, presi
dent, Security Savings g. Commercial;
James H. Baden, vice president, Com
mercial National; Charles D. Boyer,
cashier, Federal American National;
Harold w. Burnside, assistant cashier,
Riggs National; R. Jesse CLANCY, as
sistant cashier, Commercial National;
Victor B. Deyber, president, Second
National; Charles H. Doing, jr., vice
president, Washington Loan e. Trust;
James c. Dulin, jr., assistant treasurer,
American Security e. Trust; Joshua
Evans. jr president, District National:
Robert V. Fleming, president, Riggs
National; e. E. Herrell, president, In
ternational Finance Corporation; La
nier P. McLachlen, president, McLach-
len Banking Corporation; Harry G.
Meem. president, Washington Loan &
Trust; Howard Moran, vice president,
American Security & Trust; John
Poole. president, Federal-American Ma
tional; c. H. Pope, vice president, Mum
sey Trust; F. P H. Siddons, secretary,
American Security & Trust; James A.
Soper, vice president and cashier, Lin
coin National; w. w. Spaid, partner,
w. B. Hibbs Co.. Frank J. Stryker,
president, Columbia National; Corcoran
Thom, president, American Security &
Trust; George o. Vass, vice president,
Riggs National; Wilmer j. Waller, vice
president, Federal American National:
George w. White, president, National
Metropolitan E. P. Wilson, secretary,
National Savings & Trust; Claude H.
Woodward, president, Mount Vernon
Savings, and A. M. Nevius, vice presi-
dent, Riggs National.
Eleven members of the committee are
past presidents of Washington Chapter
and all are greatly interested in insti-
tute affairs. Reservations indicate that
the success of the dinner is already as
sured.