Evening star., 1936-04-30
CLEAR|NCS RECORD
SET IN CAPITAL
April Total Hits Highest
Level for That Month
in Five Years.
BY EDWARD C. STONE.


sl00, ,389, ,014.14, and scoring gain of
s22,941 ,059.80 over April, 1885, accord
ing to the report of the Washington
Clearing House Association, Charles E.
Bright, manager, made this noon.
Checks Cancelled by the clearing
house during the first four months of
this year totaled 1851 ,759. .964.58, in
comparison with clearings of 1882 ,083.-
e2S76 in the like period in 1885,
jump of ST. ,676. 1882, the best mark
for the four months since 1882 and
almost equal to the figures for that
year.
In crossing the slO0,O00,0OO mark,
April clearings were far ahead of the
other months of this year. Clearings
60 far in 1886 in the Capital compare
as follows with the corresponding
months in 1885:
january ---- Ss,99O,549 500 .566, 1923
February ---- 76,024,52l 60,956,28l
March --- 86,355,879 74l12.669
April --- 00.389,0l4 77,447,95
As bank clearings are considered one
of the very best barometers of business
conditions. today's figures present a
most striking picture of how rapidly
Washington is getting away from the
depression.
Bankers Laud Spring Council.
The Washington delegation attend
Ing the A. B. A. Spring Council meet
ing at Hot Springs, reached home
early today Headed by Robert v.
Fleming, president of the A. B. A., the
bankers from this city included George
o. VaSs. Victor B. Deyber. Wilmer j.
Waller. Joshua Evans, jr.; Francis G.
Addison. jr: Frederick P. H. Sid
Gons and E. E. Mountjoy, deputy man.
ager of the National Bank division
and Washington representative of the
association. President Fleming and
the other Capital financiers were most
enthusiastic over the three-.day ses-
sion, which they consider one of the
most important and interesting yet
held 1t also was the largest.
Philip A. Benson, president of the
Dime Savings Bank of Brooklyn and
head of the Bankers Association Saw
ings Division. reported a reversal in
the downward trend of savings de-
posits which started in 1881. Savings
increased nearly billion dollars the
past year and the number of saw
ings depositors increased 1,750,000, he
said at Hot Springs.
Tom K. Smith. first vice president
Of the association, and chairman OF
the Committee on Banking Studies.
said his committee was making a sur
sey of Government lending agencies
and the postal savings system to de-
termine if they are in competition
with banking services.
Burglaries and hold-ups of member
banks decreased so per cent in the
three-year interval, l932-l935, James
e. Baum told the executive council.
The Economic Policy Commission
reported that even with continued
business recovery the levels of bank
interest rates may be expected to con-
tinue at low levels, intermediate be-
tween present rates and those con-
eidered normal, for some time yet,
unless there is Federal action to re-
duce reserves or a general price rise.
The report was made by Col, Ayres.
One of the best business reports
was made by Fred I. Kent, his IA
sniliarity with figures astonishing his
hearers.
C. & P. Phone Net Higher.
Operating revenues of the Chesa-
peake g. Potomac Telephone Co. in
March totaled s886,373, against the
lower figure of 1929, $780, according to
the monthly report filed today with
the Public Utilities Commission Oper-
eting expenses also climbed-S639.044,
against 594.370-leaving, after taxes,
a net operating income of S177.706,
compared with S173,945 a year ago.
incorporating income was better
than last year Interest deductions
called for S13,091, against S25,2S0 in
March, 1885. leaving balance before
dividends of s165555, in comparison
with S148.588 a year ago, or an i'm
provement Of S16,967.
In the first quarter of 1886 net
earnings totaled s529,036, against
s454, ,406 in the like period year ago,
Or gain in the three months of STA
$50. Operating expenses showed
marked increase, but expenses also
climbed.
Operating revenues for the first
three months of 1886 were $2,635,351,
as compared with s2,458,634 for the
three months ended March 81, 1885.
Operating expenses, including inter-
fst. amounted to s2,106,315, as COM
pared with s2,0O4,228 for the first
three months of 1885. Taxes for the
first three months of 1886. amounted
to $214,344. as compared with $184,-
e14 for the same period in 1885.
Washington was served by 204,978
telephones on March 81. 1886, as COM
pared with 1924 on the same date
in 1885. This was net increase of
1929 telephones over the number in
service at the end of March, 1885
Telephone users in Washington made
22,929,000 calls in March, as COM
pared with 2l,210,000 during the same
month in 1885.
Franklin to Pay Out S250,0O0.
AS noted elsewhere in today's Star
the old Franklin National Bank is soon
to make another dividend payment to
depoSitorS. The amount will total
S250,000, and is 25 per cent of the re-
manning deposits due and 834 per cent
Of the original deposits. Depositors
will receive their money at the old
Washington Savings Bank, Tenth
street and Grant place, and not at the
Franklin branch of the City Bank, 1t
was announced today.
Some securities sold lower on the
Washington Stock Exchange today in
q busy sessions trading. Mergenthaler
Linotype dropped to 401a on a 40
share turnover. Capital Transit again
moved at IA. Riggs National Bank
common dropped from 280 to 277 on
two five-share sales.
Lanston Monotype commanded so
and Washington Railway & Electric