Evening star., 1932-07-15
INCREASE IN BANK
. CLEAR|NCS NOTED
Reports for Leading Cities
Outside New York Reveal
Slight Upturn.
BY EDWARD c. STONE.


Bank clearings for the week ended
July IS showed a slight gain in the
leading cities outside of New York City,
compared with the previous week.
Slightly lower.
Checks passing through the Wash
ington Clearing House tOtaled S19,097,-
600, against S19944,O0 in the previous
week. Baltimore reported a total OF
1904 900, compared with the much
lower figure OF SAT 900 in the pre-
vious week
Richmond reported clearings totaling
S25,195,000, against S25 468000 in the
week ending July 6. Atlanta showed
gain of Sl,600,0OO. The figures for
Washington and all these other cities
are below the totals for the like weeks
year ago
For the At leading cities of the cour-
try. bank ClearingS were off 98 per
cent for the week. BradStreet's reports.
The South Atlantic area reported the
best comparative gains.
Life Insurance Sales Of.
Total new paid-for life insurance
written during the first six months
of 1892 was 1879 per cent less than the
amount for the corresponding period
of 1881. The volume Of new life in
Surance last month was 22.6 per cent
below June of last year. according to As
Sociation Of Life Insurance Presidents.
For the first half of the year, the
total new business Of legal reserve was
S5027 1863 600, against $5.338, 100000 a
year ago. a decrease of 1909 per cent.
New ordinary insurance amounted to
S3,308 217 00C against $3.50, ,437 900, a
decrease of 1853 per cent. Industrial
insurance amounted to 81 1862 331 900,
against 81, ,391 1863 900. a decrease of 81
per cent. Group insurance amounted
to S357,220,000, against 1896 430, 900,
off % per cent.
For June, the total new business Of
all classes written by the A companies
was S778 080 900. against Sl,005 l45 900
in June 1881, decrease of 22.6 per
cent. New ordinary insurance amounted
to s514.176,O00. against S672 900, off
23.6 per cent. Industrial insurance
amounted to S2132960 900. against $3.50
656. 600, a decrease of 14.9 per cent.
Group insurance was S50606,OOO,
against sSl647 eco. a decline Of 38 per
cent.
Corby Host to Ticker Club.
Karl w. Corby of w B. Hibbs & Co.
was dinner host to the Ticker Club at
his country home in Montgomery County
on Wednesday afternoon and evening.
The afternoon was devoted to SWIM
ming. base ball and other out of-door
sports. wv
Those present included Chester w.
Lockwood and Thomas j. Mangan. IT,
Hemphill Noyes & Co.; j; I. Aendrich'
w. B. Hibbs & Co.; John D. Moth
ershed. Fenner. Beane & Ungerlelder;
Bernard A. Smyth and A. McCook Dun
lop. Goodbody & Co.; Ralph M. Wolfe,
MacKubin. Goodrich & Co.; A. Chester
Flather and C. Carroll Morgan, G. M. P.
Murphy & Co.; A. H. Reeside, West
heimer & Co. and Thomas W. Brahany,
E. A. Pierce & Co.
Capital Traction Stronger Today.
Capital Traction stock was a bit
stronger on the Washington Stock EX-
change today on account of the revived
discussion in Congress regarding the
proposed merger of the street car COM
pany with the Washington Railway &
Electric Co. Two small lots changed
hands at ~. The stock closed for the
day with 7 bid and 8 asked, the bid
price having advanced from 5l2. 1t
was good 1,-;l day for for Traction even erad
ing for the session was confined to
Washington Railway & Electric 4S
which moved to the extent of two
81 900 transfers at 9712. The weekly
checking of quotations on the unlisted
issues took place, no changes being
noted
A. & p. Sales Are Reported.
Sales of the Great Atlantic & Pacific
Tea Co. for the five weeks ended July
2 were 86,062, 1874, compared with S99,-
342,O06 in the like 1881 period, de-
crease of 1873 per cent. For the 18
weeks ended July dollar sales were
off 1876 per cent from last year. Ton
mage sales for the five-Week period de-
creased 4 per cent and for the 18-week
period decreased Al per cent.
Thousands of holders of American
Telephone & Telegraph stock in this
city received the regular quarterly divi-
dend in the first mail today, 1925
share. at the rate of SO a year. The
report for the second quarter was also
received and read with great interest.
The July IS regular quarterly cash
dividend of 25 cents per share went
out to over 1860 stockholders of In
corporated Investors located throughout
the country. incorporated Investors
has paid a cash dividend regularly, be-
ginning in June 1926, and at the pres
ent rate since October, 1929 Sales
in June amounted to over $4,000 shares
This is the largest number OF shares
sold during any month OF 1882, the
Washington Office reports.
Heard in Financial District.
An issue of s75,OOO,OOO of 91-day
Treasury bills is being offered by the
Government They will run from July
20. Bids will close Monday afternoon
Wholesale commodity prices con-
tinued their increase in the week ended
July 9. showing gain of 06 per cent,
according to the Bureau of Labor Sta
tistics.
The Virginia Gas Distribution Cor
poration. a Columbia Gas & Electric
Corporation subsidiary. has purchased
the Staunton and Waynesborc, Va,
properties of the Consumers Utility Co
and will substitute natural gas for the
present artificial supply
Boston reports that the New England
Trust Co. has declared an extra divi-
dend of S5 and the regular semi-annual
dividend of $40, both payable August l
to stock of record July l. similar
extra dividend was paid six months ago.
Richard A. Norris of the Lincoln Ma
tional Bank president of Washington
Chapter. American Institute of Bank
ing is preparing to name committee
Chairmen for the coming year, and as