Evening star., 1932-05-01
LOCAL CLEAR|NGS
REVEAL ADVANCES
IN PAST 3 MONTHS
Bank Checks Indicate Trend
in Trade Is Now Upward
in District.
FIGURES STILL BEHIND
RECORD OF LAST YEAR
D. c. Convention Program Taking
Shape Rapidly-Many Leaders
in Finance Invited.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Bank clearings in the District of
Columbia in April were ahead of the
March figures, which indicates that
business in the National Capital is more
than holding its own. April clearings
were also considerably better than the
February returns, which gives definite
evidence that trade has been improving
during the past three months. Although
the progress made in the three month
period has been only moderate, the
trend toward higher levels is considered
significant.
Cancelled checks passing through
the Washington Clearing House in April
totaled $89, ,654, ,223.71, compared with
S89.616, ,463.59 in March of this year.
As is the case in almost every city in
the United States, local clearings in
April were not up to the record of April,
1881, when the total was $113, 49,, ,805 .88.
Local clearings for the first four
months Of the present year, compared
with the 1881 Cancelled check records,
follow:
1882 1891.
January ... $92, 1855, 736 S109. 764, ,614
February ..... 80,807,54 69,742, ITS
March ...... 89,616,463 112,443,1 1859
April -...... 89,654,233 1885,, 2,805
F6S the first four months of 1882
local clearings totaled 1882 1888, 1858,
agaii5t $432, ,332,755 in the correspond
ing period of 1881. The first half year,
however, may see the 1882 clearings
coming closer to the figures of last year,
as many trade writer's are now predict
ing better than seasonal pickup in
May and June, the forecast being based
on hot-weather~ demands. The usual
Spring rise" was marred by bad
weather, the same handicap being un-
likely in the next few weeks
Bankers Planning Fine Program.
Busy days for the discussion of the
pressing problems of banking are being
planned by the Program Committee of
the District of Columbia Bankers Asso-
citation for the coming convention at
Hot Springs, Va, next month. The
committee, headed by Charles H. Do
ing, chairman, has adopted tentative
program which includes topics of vital
current interest, such as Modern
Trends in Bank Development and Bank
Legislation" Evolution of Banking in
America and Its Future" Bank Man
agement," from the standpoint of both
directors and officers, and Methods
of Selecting and Training Bank Per-
sonnet" =.
Invitations have been addressed to
distinguished authorities in the field of
banking, economics and journalism
who have been approached informally
by members of the local association
and have signifled their willingness to
be present at the gathering. Announce
ments will be made upon acceptance
OF the invitations Other topics being
considered are Changes in Banking
Practice Suggested by the Depression" F"
Gold Standard Versus Managed Cur
rency," Credit and Its Uses" and
The Meaning of Imitation and It's
Effects"
In addition to the stated subjects
OF discussion, reports will be presented
OF the flduciary, safe deposit and audi
tors sections. The special Committee
on Law and Legislation will also make
a report, which is awaited with deep
interest.
Further Plans Announced.
At the first and last sessions the pre-
slolng officer and will be the acting pres
1dent of the association, C. H. Pope, vice
president Munsey Trust Co. George
o. Vass association vice president and
vice president and cashier Riggs Ma
tlonal Bank, will preside on the second
Gay. number of prominent guests
are expected, including representatives
OF the American Bankers Association
and the United States Treasury Depart
ment. Present indications are that an
unusual number of bank directors will
be in attendance this year.
Claude H. Woodward president of
Mount Vernon Savings Bank, and gen.
eral chairman of the convention, has
issued letter to each bank requesting
that reservations be sent in at once to
Frederick H. Cox, chairman Transpor-
tation Committee, in order to simplify
the work entailed. The Sports Com
mlttee held a meeting during the week,
at which all the details of the recreative
side Of the occasion were arranged.
Sidney F. Taliaferro and Robert H.
Lacey are chairman and vice chairman
respectively.
Mrs. Pope, wife of the acting presi-
dent Of the association, chairman of the
Laoles' Committee, also announces that
her committee has completed arrange
ments for the program of events TO in
terest the ladies who accompany the
delegates to Hot Springs.
Plans OF the Entertainment Commit
tee, under Barnum L. Cotton, trust Off
Ger. District National Bank are veiled
IN secrecy, but enough has leaked out
TO justify the opinion that it will equal
all previous efforts to make the oc-
caslon enjoyable as well as profitable
TO the banking interests represented at
the fourteenth annual convention.
Trading on d. C. Exchange.
Yesterdays trading on the Washing
ton Stock Exchange was confined to
bond sales. Two $1,000 Potomac Elec-
tric Power Consolidated SIS changed
hands, one at 1914 and the other at
10l Is.
Alterations in the main Office of the
American Security & Trust Co. are
nearly completed. Connection with the
new banking quarters in the big annex
will be made in few days One Of the
most attractive banks in the East will
be the result.
Elmore T. Burdette assistant cashier
OF the Potomac Savings Bank, has been
appointed chairman Of the Member
ship Committee of the Washington
Board of Trade for the coming year.
He has been active In Board Of Trade
affairs for years, and is already plan
ming busy campaign.
The Chesapeake & Potomac Tele-
phone Co. reported a net gain in phones
in March of sos. The company handled
20,l98.00 calls, against 100000 in
March, 1881. If other units of the Bell
system were showing the same business
growth the possibility of an American
Telephone & Telegraph dividend cut
would never be mentioned.
Guy Emerson, vice president Of the
Bankers Trust Co. Of New York, after
conferring with President Hoover on
the banking situation, said the principal
objection of bankers to the Glass bank
ing bill was enforcement of banks en-
tirely from the security business.
The Great Atlantic q Pacific Tea Co.