Evening star., 1934-08-09
CAPITAL CLEAR|NGS
SOAR IN HALF YEAR
Increase 10 Per Cent Over
1888 Mark--Exceed
National Gain.
BY EDWARD C. STONE.

Bank elearfngs In Washington dur
Ing the first six months Of the current
year scored TIE substantial gain Of
10 per cent over the corresponding
six months Of 1898. the total Of $685.
ess 500 compared with t3o2.125 ,se7
reveals. This Is Just above the ma
tlonai average gain in clearings Of
III per cent.
The notable increase Is OF par
ticular interest. as comparisons Of
percentage charges are being made in
other cities covering the same period.
While Washington chalked up an en-
viable figure in the half years bank
elearings. yet many strictly Industrial
cities hung up much more startling
Cancelled check records.
During the sic months Philadelphia
recorded practically the same buzt-
ness progress as washington, the City
OF Brotherly Love reporting 1T per
cent higher clearings than q year
ago. Baltimore made brilliant show
ing with a 399 per cent gain. In a
list compiled by Dun a. Bradstreet
Omaha made the most surprising
progress Of any city in the country,
clearings having mounted 57.1 per
cent above the 1888 FIRST half year
mark.
Richmond attained commendable
business Improvement. reporting an ad-
vance Of 1877 per cent in clearings. At
the same time Atlanta reflected the
great improvement in the cotton stu
alton with the amazing upturn Of ASA
per cent in clearings. the Georgia city
now standing next 10 the top OF
the prosperity LIST based on back check
activity.
Conservative boston gained but lis
per cent, New York was up i44 per
cent, Chicago 81 per cent, Louisville
80 per cent. New Orleans 42.8 per
cent and Dallas AZ per cent. Cleve-
land had a 20 per cent comeback and
Cincinnati q rise OF % per cent. How
ever, these cities In their industrial
tumble fell very much farther than
Washington. hence the more extended
upswings
Since the above half-year compari-
sons were figured, the Washington
Clearing House returns for the first
seven months Of 1884 have become
available. The seven months gain
over last year was 1877 per cent, while
the Improvement in July alone, over
July, 1888, was considerably better,
72.9 per cent.
Registration Action Due.
Chairman Joseph p. Kennedy OF
the Stock Exchange Control Commits
sion states that blanks for the regis
tration of exchanges will be sent out
beginning Monday, this being the first
step In the Governments control OF
the big securities markets. Chairman
Kennedy says that no decision has yet
been reached regarding the exemption
OF the smaller exchanges from regis
tration requirements. In this class is
the Washington Stock Exchange and
the later ruling Is awaited with wide
interest here.
The chairman does not favor max
ing the registration of various stock
issues too strict. In other words, he
opposes any action that might cause
the delisting OF any securities. SO
far no threats of the kind have
reached the commission, Mr.. Kennedy
says. The commission will meet to-
morrow to consider the regulations
which are expected to be sent out next
Tuesday. The exchanges have until
September is In which to complete
registration.
E, Burd Gruhb, president of the
New York Curb Exchange, conferred
with the commission yesterday over
the new regulations. After the con-
ference he took the same position as
held by Richard Whitney that the
proposed rules are fair and reasonable.
Meem Starts on Vacation.
President Harry G. Meem of the
washington Loan a. Trust Co. left
the city today for a vacation trip
which win include Niagara Falls and
points OF interest in Canada and New
England. He will conclude his vaca-
ton with visit at Atlantic City and
return to Washington early in Sep
tember.
Harry Wheeler. who has been con-
nected with the brokerage Office of
w. B. HibbS & Co. for several wears.
Is taking his annual vacation. He
now Is at q Summer resort in New
Hampshire.
1t was reported in the financial
district today that the greater portion
OF the new $2,35O,000 State of Mary
land Is already has been resold. The
credit rating of the State of Mary
land Is said to have been an i'm
portant factor in the demand for the
new issue.
The new offering of $4,000. 900
four-month IIa per cent debent,,reS
OF the Federal intermediate Credit
Banks has beer oversubscribed Az
times and the books closed.
Capital Traction Advances.
Capital Traction stock advanced
into new ground today on the WASH
ington Stock Exchange when it sold
AT ISIS, up 70 from the last sale
and l y from transactions completed
about 10 days ago. The days sales
totaled 20 shares. The stock closed
with % bid and 2315 asked.
City q Suburban IS came out in
$1,000 transfer at IS. UNCHANGED
from the last previous sale. WASH
lngton Gas IS, series B, also an
peared on the beard today, $500 NOV
ing at l03 4. compared with a small
sale yesterday at 1o3 The only other
sale for the day was in Carpet Corp,
70 shares changing hands at el3. 1t
Is food-distr,buting concern and
the stock pays 81 year dividend.
It was announced in the financial
district today that Senator Thomas
OF Oklahoma will make an address
at the Chicago Fair next Monday
on Money" II is to be Agricultural
week at the fair.
The banks, trust companies and
stock Exchange in Baltimore will be
closed next Saturday, August II. in
connection with Baltimore City's cele-
bration OF the States tercentenarv