Evening star., 1932-10-14
DECREASE IN BANK
CLEAR|NGS IS NOTED.
Columbus Day Holiday Re-
suits in Decline for Week
Ended October IL.
BY EDWARD c., STONE.

BY EDWARD c., STONE.
Partly owing to the fact that al the
New York Stock Exchange offices in
this city were closed on Columbus day,
bank clsarings in Washington showed a
decrease for the week ending October ~,
compared with the corresponding week
last year and the preceding week this
year.
Checks pacsing through the Washing
ton Clearing House totaled sl8,929, 900,
against $2O,327, 900 for the week ended
October and 20 per cent lower than
In the like period year ago. Last
week Cancelled checks showed marked
increase over the last week in Septem-
ber.
Baltimore reported total clearings Of
s49,lll,O00. against $64,s82 900 in the
week ending October S, and a slump OF
81 per cent from the same week year
ago In Richmond clearings were a'so
off, beIng s26.921, 900, compared with
$29,218,000, and down II per cent from
last year. Norfolk and Atlanta also
noted small decreases for the week and
larger declines frcm last year.
Bank clearirgs at At leading cities
of the United States for the week ended
october II, 1892, totaled $3,597 ,663, 900,
as against S5.126. .432 900 in the preced-
ing week. This represents decline Of
29.8 per cent and is 45.3 per cent less
than in the corresponding week Of last
year The decrease at cities outside
New York City was not quite SO great
the total value reported being 81 .430,-
456 600, as compared with 81 ,851 III 900
In the preceding week.
Much Ct the decline shown this week
was due to the five-day period against
six days l2st week. After making cor
rections for the shorter week and the
usual seasonal change, due to fewer
quarterly payments, the decline becomes
rather minute.
Local Bankers to Hold Forum.
At a meeting yesterday the Forum
Committee of Washington Chapter,
American Institute of Banking, formu-
lated plans for a series CT dinner meet
ings during the Fall and Winter. 1t
was stated that while the situation fac
ing bankers has been much ameliorated
in recent months, it still requires wise
decisions and courageous action to meet
current problems. A better comprehen-
sion of them is the purpose of the
forum.
The general theme selected for the
series of meetings is Banking at the
Crossroads" as the belief is widely held
that the road chosen now will deter
mine the immediate future of banking
in this country and whether the United
States Is to continue to be the financial
leader of the world.
The date set for the first forum is
October 26. An authority of national
, principal address on that occasion,
which will be followed by general dis
cussion. Reservations are already being
received by Norman E. Tcwson, chair
man of the Forum Committee. The
place of meeting will be determined by
the seating requirements. The meeting
will be open to all directors, officers
and senior clerks of local banks and
their invited guests.
Building and Loan Experts Meet.
Delegates from about 300 building and
loan associations, making up the South
eastern State group in district 5, United
States Building and Loan League, are
gathering at Virginia Beach today for
their second annual conference. j.
Newton Gordan, Lynchburg, Va, is
president. Washington will be well
Represented at the business sessions,
cussions Of plans for participation In
the new Federal Home Loan Bank
credit move.
The building and loan associations in
Delaware, Maryland, West Virginia
Virginia. Kentucky, Tennessee. North
Carolina, South Carolina, Georgia,
Alabama, Mississippi and Frorida will
also send representatives to the con-
ference. total Of $727,0C0,000 in
building and loan assets is reported by
these States.
Some Of the members of the Federal
Home Loan Bank Board are expected
% address the meeting. Ralph H. Rich
ards, Chicago. director Of field service
for the United States Building and
Loan League will speak, as will also
Walter B. Hilton. Wheeling. w. Va,
secretary of the West Virginia Building
and Loan League; William S. Quinter,
Washington; John Randolph, Rich
mond, Va; E. M. Surber, Charleston,
W. Va; Horace Russell. Atlanta, Ca;
t'larles A. Hines. Greensboro, N. c., and
E. o. Black, Columbia, S. c.
Group Holds Fine Record.
"Six out of the 1S States in the en-
tire country which showed gain in
building and loan assets in 1881 were
in this Southeastern group" said Presi-
dent Gordon. These associations,
serving the double purpose of stimulat-
ing thrift and financing home owner
ship are making definite progress here.
The establishment of the Home Loan
Banks, of which these cooperative
home financing associations will be the
principal members, will give impetus to
our growth in this section of the coun-
try.
For refinancing Of existing mort
cages which were drawn up as Short
time mortgages in the first place, for
financing modernization OF homes, for
loans to the man who wants to buy a
home at existing low prices, and to
finance the individual home-builder in
areas where shortage of Single-family
homes impendS, the funds made avail
able to the building and loan associa-
tions by their membership in the Home
Loan Banks will find ready use
I'VE will plan at our conference just
what our policies will be with regard
to funds available from the banks after
Saturday"
The following Washingtonians left
last night on the Norfolk washington
boat to attend the conference: Mr.. and
Mrs. Carl Bergman, Mr.. and Mrs.
William S. Quinter, Mr.. and Mrs
c. Clinton James, Mr.. and Mrs. Edward
C. Baltz, Robert E. Buckley and Cha
pin Bauman.
Harrell Heads Building Association.
j. B. Harren was reelected president
of the Columbia Building Association at
the annual stockholders meeting of the
organization last night at the associa-
tion's Offices, TIC Eleventh street H. B.
Denham was reelected vice president
and c. Albert White was reelected
treasurer and attorney c. E. Kefauver
was elected secretary and member of
the board of directors.
Directors reelected include Mr. Har-
rell. Mr.. Denham and Mr.. White, c.
Gay Harrell, Albert o. Denham, j.
William Weber, Frank j. Auth and c.
krOgman.
The total assets of the company were
listed as 81 2697, ,069.23 in the presidents