Evening star., 1933-01-06
GAIN IN CLEAR|NGS
FOR WEEK IS NOTED
Period Ending January a
Shows Increase of ST.
$4,000 in D. C.
BY EDWARD c. STONE.

7o5, 900 against s12,79o0 0o0 a gain of
$2,915,000 for the week, but decrease
of 325 per cent, compared with the
corresponding week year ago. The
gain over the previous week indicates
a large turnover of money around the
beginning of the New Year.
Clearings in At leading cities in the
United States, as reported to Brad
streets Weekly, totaled SIS, OBS, ,423,000
for the week ended January A, a gain
of 38.9 per cent over the previous week,
also due to the usual January l check
turnover.
Clearings in these cities were 25 per
cent lower than year ago In the same
period The rise. excluding New York
City, from the previous week was 24.6
per cent and the decline from last year
259 per cent.
CIearings in Baltimore revealed a
substantial advance, being $5l, ,79l 600,
against SAC. .4O6, 900 in the previous
week, and 3S per cent under last year.
Richmond reported clearings of $780,
OOO,O0O. against the much lower figure
of S23,6l3000 in the previous week and
only 3 per cent behind the same week
in 1881.
NorfoIk's check clearings totaled ST.
297 900. against S2,010000 in the prevl-
Gus week, and down 35 per cent from
last year Atlanta was another South
ern city to reveal good weekly gam.
OF all the cities in the United States,
St Paul was the only one to show
higher clearings than a year ago, the
gain being 1.5 per cent.
Gas Company Elects Officers
The annual meeting of the stock
holders of the Washington Gas Light
Co which was scheduled for February
l. 1882, and postponed eight times as
a result of the controversy with the
Public Utilities Commission over the
out-of-town ownership OF the COM
pany's stock, took place yesterday.
The present officers were reelected,
including Marcy L. Sperry, president:
E. ]. Boothby,. Robert D. Weaver and
George B. Frazer, vice presidents; Ed
ward T. Stafford, secretary; Hazel q.
THOMPSON, assistant secretary; Robert
C. Overs, treasurer; A. Gray Dawson
and Frank r. Holt, assistant treas
urers: Wilton j. Lambert, general
counsel, and Gen. William E. Horton,
assistant counsel.
The board of directors, also re-
elected. includes Admiral Cary T. Gray
son, Wilton j. Lambert, Marcy L.
Sperry, Corcoran Thom, Robert D.
Weaver, Sidney F. Taliaferro and c. II.
Pope.
Banks Report Higher Deposits.
washington bankers were much in
terested today in a report that New
York Citys big 10" banks, three OF
which are the largest in the United
States. from the standpoint OF deposits,
recovered S7l0,658,000 Of deposits in
the last half of 1882, bringing their ag-
gregate total to S6,914, ,476, 900, or within
S64 1903 900 of the total at the end OF
1875 978, ,779, 900. These 10 institu-
tions hold about 13 per cent of the total
deposits in all banks in the country.
Four showed gains in deposits COM
pared with the end of 1931-Chase Ma
tional. Bankers Trust First National
and Chemical Bank & Trust Co. Bank
ers Trust made the largest gain, with
an increase of about $64 100000 during
1882 while, compared with June 80, 1t
increased deposits by S73,000,000.
Chase National, National City and
Guaranty Trust, respectively, continue
to head the country's banking inStitu-
tions in size of deposits.
Insurance Stocks In 1882.
Insurance stocks during 1882 were in
clined to follow general security market
trends, although some irregularity de-
veloped in individual issues. Holt, Rose
& Troster report. Various issues closed
the year at higher levels, but were
counterbalanced by lower levels reached
by several other issues.
Opening January at 25.77, the Holt,
Rose g. Troster weighted average of 20
representative issues reached high OF
1882 on March g. Subsequently, the
list gradually settled downward to reach
the low of 1852 on July IL. Rallyins
In sympathy with other securities, in
surance stocks improved their market
levels and the averages closed December
81 at 1882, only 1.95 points below the
January 2 opening average.
TOday's Trading on Exchange.
Trading on the Washington stock
market today was confined wholly to
bonds. Business opened with $500
Washington Gas Light 6s, series A,
changing hands at lo01s, $1,000 NOV
ing at 1003s and $500 at l0OA.
Washington Railway & Electric As
opened with a 81 900 sale at 89l2. Four
more $1,000 sales took place, all the
higher price Of S9A.
Neither Capital Traction stock nor
bonds made any appearance on the
board today, despite yesterdays passage
of the street car merger legislation by
the House. 49,.
The issues in the unlisted department
were given their weekly attention today,
but no changes noted in quotations.
Heard in Financial District.
Robert v. Fleming, president of the
Riggs National Bank, who was con-
fined to his home a few days with the
prevailing heavy cold, is back at his
d.
7rd l. Hillyer, vice president of
II on Trust Co., who has been on
t vacation in the South is back
in e financial district.
Columbia Gas & Electric Corporation
has declared the regular quarterly
dividends Of rs cents in convertible
preference stock on the common stock,
Sl.5O on the S6 preferred stock, SIPS
on the SIS preferred stock and 81 .25 on
the SIS convertible preference stock, all
payable February IS to stock OF record
January 20.
The Open Market Policy Conference
of the Federal Reserve System has de-
cided that there shall be no change in
the SYSTEMS policy Of maintaining a
substantial amount of excess member
bank reserve. Adjustments in the sys-
tens holdings in the open market
account will be in accordance with this
pollcy.
Rail Prosperity Held Vital.
No outstanding business prosperity
will be possible in the future without
railroad participation, concludes the
Standard Statistics Co. of New York in
a survey of the present status Of and
the long term outlook for the carriers.
The survey says
1.-The Importance of the transporta-
ton industry to the economic welfare
OF the Nation has lately received wide
spread recognition, and ultimate cor
rection of the fundamental adversities
which for a long period (even prior to
the depression) have been operating to
weaken the status of the rail carriers
now seems a certainty.
U. S. TREASURY BALANCE.
E,a r3af fad