Evening star., 1932-04-08
BANK CLEAR|NGS
\ INCREASE IN WEEK
Advance of 1913 Per Cent Is
Noted in At Cities
of u. S.
BY EDWARD c. STONE.

! Bank clearings in Al leading cities
Of the United States for the week end
ing April totaled $3.50 955 900, an
increase of 393 per cent over the pre-
ceding week, but a decline of 27.3 per
cent from a year ago. ClearirgS for
cities outside of New York City ag-
gregated $2,054, $4,000. as compared
with 81 .602,013000 last week. gain
= of 282 per cent. Bradstreet's finds.
The decided improvement shown in
this weeks totals is largely due to the
month-end payments included therein
and the fact that the decline in last
weeks totals was due to observance of
Good Friday and the shut down of ex-
changes on the Saturday before Easter.
However, after making allowance for
these factors the advance this week
was exceptionally large.
New York City clearings rose 45.9
per cent over those of the previous
week This is the largest weekly in
crease that has occurred for several
months and reflects the activity of the
stock exchange, but does not neces-
other businesses of the city.
Washington bank clearings totaled
$23 $4,000 against $17,847,000 in the
previous week and off 1875 per cent from
a year ago. Baltimore clearings were
500 1885, 900 compared with $4l,829,0 900
a week ago and off per cent from
1891; while Richmond reported $26,-
583 900 against 4,595 900 in the pre-
vious week and off 10 per cent from
year ago. Philadelphia made the best
showing, recording substantial gain
over the like week last year.
sherman Wins Bankers Trophy.
Members of Washington Chapter,
American Institute of Banking, held
lively public speaking contest last eve
ming in the American Security & Trust
Building The contestants in the an
nual contest included Robert S. Hines,
District National Bank; Dorothy Smith,
Riggs National Bank; Albert E. Fisher
Riggs National Bank; Robert G. Whit
ton, First National Bank, Alexandria,
Va: Raymond L. Weber, National Saw
ings & Trust Co.; Valentine w. R.
Smith, Citizens National Bank, Alex
andria, Va; Raymond J. Mealy, w. B.
Hibbs Co.; Chester Pierce, Citizens Ma
tional Bank, Alexandria, Va; A. w.
Sherman, American Security & Trust
Co.; E. Wallace Schreiner, First Ma
tional Bank Alexandria, Va; j. Earle
McGeary, W. B. Hibbs Co., and Henry
W. Evans, American Security & Trust
Co.
First prize, a silver trophy donated by
bank presidents CT Washington, was
won by A. w. Sherman, American Sc
curity & Trust Co.; second place by E.
Wallace Schreiner, First National Bank,
Alexandra. va; third place, ]. Earle
McGeary, w. B. Hibbs Co., and fourth,
Henry w. Evans, American Security &
Trust Co.
The judges were Justice Joseph W.
Cox, District Supreme Court; Francis
G. Addison, president of Security Saw
ings & Commercial Bank, and Ray
mond B. Dickey, dean of the faculty, |
Washington Chapter, American Insti-
tute of Banking.
The winner will represent Washing
ton Chapter in the district contest to be
held in the Eastern section of the country
in May The winner of that contest will
take part in public speaking contest in
Los Angeles in June for the $4,000
A. P. Gianini prize.
SeabOard Utilities Net Up.
The annual report of Seaboard Public
Service Co., made public from its head
quarters at Alexandria. Va, yesterday, |
shows gross operating revenues for 1881
totaled $15,85l ,82l, as compared with
S14,942670 in 1880. Net income was
$2,088, ,304, as contrasted with S2068, sol
and total electric output in 1881
amounted to 410,48O, ,631 kilowatt hours,
as against 359,319, l72 kilowatt hours in
the previous year
President A. w. Higgins in a letter
to the stockholders, stated the year
1881 was marked by continued eXpan-
sion and development of the companyS
business. New properties were acquired
by the subsidiary companies, of local
interest being the acquisition by Vir-
ginia Public Service Co. of control of
the Harpers Ferry Electric Light &
Power and Potomac Valley Power Cos,
as well as the physical assets of
Shenandoah River Power, Valley Light
& Power, Glenville Electric and East
Rainelle Light & Power Cos. operating
in the Virginias
Eastern Shore Public Service Co.
also acquired all preferred and COM
mon stock Of Maryland Light & Power
Co., formerly part of the Empire Public
Service System and the physical prop
erty formerly owned by that system in
the Virginia and Delaware sections of
the Delmarva peninsula.
Today's Trading on Exchange.
On the Washington Stock Exchange
today 1000 Potomac Electric conSoli-
dated SIS sold at 1O1.
A small lot of Capital Traction stock
changed hands on the exchange at 1874,
fractionally lower than this stock has
been selling.
Eighty share Of National Mortgage &
Investment preferred came out at 3,
closing the days trading.
Other Financial Notes.
The Seaboard Air Line has been
valued by the Interstate Commerce
Commits sion at Sl41 ,55O,275 as of June
30, 1918.
The Southern Railway has been
valued by the Interstate Commerce
Commission at S475, 1873 476, as of June
80, 1916.
The Treasury is offering a new issue
OF S75,000,000 Of 9l-day bills on a dis
count basis