Evening star., 1936-03-31
CLEAR|NGS MOUNT
SHARPLY IN MARCH
$12,243,209 Added to Gains
Already Recorded by
Capital Banks.
BY EDWARD c. STONE.

CledrlngS IN Cle CdplJdl diNOullIeu W
S86, 1855. .87919 in comparison with STA
112,6697l in March, 1885, according
to the monthly report of the Clear
ing House Association, Charles E.
Bright. manager, made this noon.
Clearings for the first three months
of the present year totaled S251 ,370,-
950.44 against S2O4. .635 ,874.42 in the
first three months of 1885, jump of
s47 507602.
Clearings indicate the best business
In March for several years, as the
total of Cancelled checks in March,
1884, was only s62 209 .874.1O, and in
March, 1888, S32.644 ,947.37 The
March figures were also we'll ahead
of February OF the present year when
checks passing through the clearing
house totaled s76,O24.5218l.
Bank clearings so far in 1886 COM
pare as follows with the correspond
ing months year ago:
1885 1885
January ---- S86,99O,549 69,566, 1928
February - 76,024,521 60,956.28l
March - 86,355,879 74,112,66
Directors of the Liberty National
Bank have elected w. T Vandoren, for
the past 10 years connected with the
Office of the controller of the currency,
vice president and cashier. President
NJ F. Calban announced today. This
gives the bank two new vice presi-
dents, as J. B. Skinner was recently
advanced to similar position.
Mr.. Vandoren is a former national
bank examiner, so is already known
to many bankers in the Capital. He
has performed good deal of special
examination work in trust depart
ments in the banks here. Born in
HyattSville Md, in 1905. he is grad
uate of Central High School in Wash
ington and the American Institute of
Banking.
He has been actively connected
with some phases of banking ever
since he left school and will assume
his new duties at Liberty National to-
morrow His work as an examiner has
taken him all over the fifth Federal
Reserve district. A brother of the
late Mai. L. H. Vandoren. he Is mar
ried and resides in Silver Spring, Md.
Prudential Patrons Insured.
E j. Carlson. secretary of the
Prudential Building Association, an
nounced today that funds invested
with his firm are now insured by the
Federal Savings g. Loan Insurance
Corp, Government agency. up to
$4,000 on each account. The in
surance certificate has just been re-
Ceived from the Federal Home Loan
Bank Board.
The Federal Savings e. Loan In
surance Corp, created by Congress
in June. 1884. affords protection for
investors in thrift and home financ-
ing institutions. similar to that given
depositors in commercial banks by
the Federal Deposit Insurance Corp ,
with one material distinction. The
F. D. 1. c., organized in 1888,
insured bank deposits, subject to
demand withdrawal whereas the Fed
eral Savings & Loan Insurance Corp.
operates in the long term savings
and home financing field.
The Federal corporation has a
capital of 100000 900, subscribed and
paid for by the Government, and is
building up substantial reserve fund
from annual premiums paid by in
sured institutions.
Bond Firm in New Offices.
Lawrence NJ Proctor, manager of
the Washington Office of Alexander
Brown g. Sons. announced removal of
the Offices today from 734 Fifteenth
street to a suite on the fifth floor of the
Union Trust Building. 1t is under
stood that the building at the former
location is to be replaced by a new
structure in the not-distant future.
Alexander Brown & Sons claim the
distinction of being the Oldest invest
ment banking house in America, hav-
ing been founded in Baltimore in 1900.
The organization of the Baltimore &
Ohio Railroad was done largely by
Alexander Brown &, Sons, this financ-
ing starting Americas first rail line
In recent years the firm has been
very closely identified with one of the
Nations major financial operations, the
distribution of more than billion dol
lars worth of Federal Land Bank
bonds. The firm has membership in
the New York Stock Exchange and
the Baltimore Stock Exchange
Present partners are B. Howell Girls
void, jr.; Thomas Hildt. w. N. Stro-
nenger, Alexander Brown GrisWold,
Harry Swope and B. Howell Griswold.
3D. The staff of the Washington Of
flee includes Lawrence NJ Proctor,
Robert T. Norman, Josiah P. Huntoon
and Frederic S. Laise. all of whom
have had extensive experience in the
investment business.
Sanitary Bond Bids Asked.
The Washington suburban sanitary
district will receive bids April 8 on
s350,000 per cent water bonds The
bonds will mature in so years and
become callable in 30 years.
Members of the staff in the Wash
1ngton Office of j. S. Bache g. Co. in
the Washington Hotel will benefit by
the bonus plan adopted by the stock
exchange firm whereby not less than
Is per cent OF the 1886 net profits
will be distributed to employees after
certain deductions have been made
for the partners. Frank J. F. Thiel
80 uldAd5CI Vi IllC O1llCC ilCLC,
The National Dairy Products Corp.
S62, ,545. 500 334 per cent debentures
will be offered at 1O01s, according to
q statement fled with the Securities
Exchange Commission. The offering
Is expected next Friday.
Today's Trading on Exchange.
Capital Tranction IS were in excel
lent demand on the Washington Stock
Exchange today at 9012. Washing
ton Gas Light 6s also appeared on the
board, selling at 11712.
Washington Railway & Electric pre-
ferred came out at 110A and y on a
70-share turnover. Woodward &
Lothrop common stock figured in the
transactions today for the first time
In many weeks, 10 shares selling at
Tan chorac of Wa hin Otnp Gas