Evening star., 1936-03-01
CLEAR|NGS REACH
HIGHEST FEBRUARY
MARKS SINCE 1882
Major Trade Barometer
Registers Rise Here De-
spite Weather.
RETAIL SALES RECOVER
PART OF RECENT DROP
Volume Of D. c. Building Permits
for Week Is Five Times Greater
Than in 1885 Period.
BY EDWARD C. STONE.

ocSPltc Vic TOuSIcSG WIlteT
weather known in Washington in the
past four of five decades, February
business was much better than in Feb
ruary Of last year, in fact, the best
since 1882. Bank clearings, which
show how hard the business winds
are blowing and in what direction,
scored a gain of $l8,o6s, ,240.51 over
February, 1885.
The Washington Clearing House
Association, Charles E. Bright. man
aser. reported yesterday that Feb
ruary Cancelled checks totaled S78,-
o24.521.28 in comparison with $780,
e56,281.30 in the same month last
year. Yesterdays report brought
clearings for the first two months Of
this year up to S165,015 5,07125, as
compared with S130, ,532, ,20470, a sub
stantial adavnce in January and Feb
ruary Of s34,4sl ,8e6.55.
With this start in the first two
months of 1886, bank clearings are
bound to make a fine showing in the
first quarter, far ahead of last year.
In the past few days substantial busi-
ness improvement has been reported
in this territory, which is certain to
continue as the weather improves and
Spring buying really gets under way.
February clearings are of partic-
ular interest in showing the steady
comeback since 1882 They almost
reached the February record that
year when bank checks totaled $780,
807,544. In 1888 Washington clear
ings totaled s61,012,252.58, and in
February. 1884, dropped to s49,0sl,-
924. Thus, the pickup in February,
1895, and 1896 reveals an entirely
new trend.
District Sales Improve.
In its weekly trade review of con-
ditions all over the United States. the
Department Of Commerce reported
Yesterday that retail trade in Wash
ington gained some of the ground
which had been lost in other recent
weeks on account of bad weather
Sales were ST. per cent better than in
the previous week and IL per cent
ahead Of the corresponding week In
1885.
While bank clearings were per
cent lower than in the previous week
this year, they were 229 per cent
higher than in the like period in 1885
The volume of new building permits
was three times greater than in the
preceding week and five times better
than last year.
Tourist business, as reflected by
visitors to the Washington Monument
was below the record of the previous
week. and the same week a year ago
The rest of the fifth Reserve district
showed some improvement over other
recent weeks due to better weather.
Clearings and bank debts were about
the same as year ago. Fuel dealers
reported the best business gains.
wholesale buying Jagged, the report
says.
La Sale Interest Ordered.
Paul B. Cromelin and John Walsh,
receivers of the La Sale Apartment,
south section, are preparing to send
out notices to noteholders that an
other installment of six months inter-
est will be paid to the holders of the
first deed of trust notes, series
executed by Harry A. Miller on
March S.
The receivers have been in active
management and operation of this
building for several years. They re-
port that the building is 100 per cent
rented. This is the sixth installment
OF interest that the receivers have
paid. The outstanding notes, con-
stituting the first deed of trust, are
held largely by residents of Wash
ington, the total series being in the
amount of 100000.
Notes should be presented for credit
OF interest at the Office of the receivers
6o6-A, La Sale Apartment, on or after
next Thursday, the notices state.
Bonds Reach Peak for 1886,
Trading on the Washington Stock
Exchange yesterday was considerably
more active than on most SATURDAYS.
City u Suburban SIS featured the
days business. with four $1,000 trans
fers and a $4,000 sale being recorded
1t SS, new peak for the present
year. They gained a full point.
Potomac Electric Power stocks were
IN demand in small lots. The 6 per
cent preferred opened at 1097s and
closed at ITO. ex-dividend. The 5h
per cent stock opened at 113 and
closed at ia, also ex-dividend. Real
Estate Mortgage & Guaranty pre-
ferred moved to the extent of 20 shares
at ~ and did better by opening at
~ and closed at ~.
Financiers Mourn Father.
The financial district was saddened
yesterday by the death of william J.
Father, for almost so years connected
with the Riggs National Bank. His
death from double pneumonia ended
Q remarkably long, successful and use
ful life. AS the years crept upon him,
Mr.. Tather had to take things easier
at the bank, but he was there every
day, an example of promptness, regu-
larity, and close application to duty.
Robert v. Fleming, president of the
bank. paid him a glowing tribute.
As the funeral services are to be
private, Charles H. Doing, president
OF the District Bankers Association,
refrained from appointing any spe-
cial delegation to attend. He said,
however, that Mr.. Father was held
in the highest regard by financiers all
over the city.
OF great interest to q host of bank
depositors in the city is the announce
ment that the Internal Revenue De-
partment will have special income tax |
experts in 10 of the city's banks for |
consultation by the public.