Evening star., 1937-06-02
D. c. CLEAR|NGS
CONTINUE TO RISE
May Total Is Best Mark for
That Month in Last
Seven Years.
BY EDWARD c. STONE.

report of the Clearing House Associa-
ton, George H. Bright, manager, dis
closed today,
Clearines in May of this year to-
tailed l03997,33937 in comparison
with s94,295, 1921 in May year ago
This is a striking gain of S9,7O2, ,227 .06
and proves without question that busi-
ness in the Capital now is much better
than 1t was at the same time last
year.
In the first five months of the
present year clearings in Washington
reached a total of S527240,196.66,
against $446055 ,07689 in the same
period in 1886, or an increase so far
in 1887 of $Sl,l95,11 A gain of
such proportions shows clearly that
business in Washington in the first
half of 1887 will far exceed the high
mark reached in the similar six
months in 1886, AS there is nothing on
the horizon to indicate any marked
change in June in the general up
trend.
May clearings alone, in being the
best since 1880, compare with S113,-
055,037.2l in May that year. In the
previous year, shortly before the Wall
Street break, clearingS totaled Sl26-
36,l889l in Washington, an all-time
high mark for that month. BY May,
1881, clearings had dropped to $lO2,-
346,94955. In May, 1882, they tum-
bled further to S80,493,l ,l98.40, hitting
bottom in May, 1888, at SAC, 0,453, 1913 40
Then the present advance started
Cancelled checks in May, 1884, totaling
$61 ,662 ,074.95 and amounting to
s77,957, ,951.42 in May, 1885. Since
then they have mounted steadily until
they reached almost 1O4,oo0O00 in
the month Just ended.
Clearings in the first five months
of 1887 in this city compare as follows
with corresponding months in 1886:
1887. 1886.
January ----S1OO, ,083 S86,99O, SAG
February---- 92,192,37O 7S,O24 ,52l
March ---- 1l4,782,9l6 S6,355 ,679
April ------ 1l5,7l5 484 100, ,3S9 OLA
May - 1O3,e97 ,339> 94,295ll2
Extra and Quarterly Voted.
Directors of the Bank Of Commerce
& Savings have declared regular
quarterly dividend of 81 per cent and
an extra dividend of l per cent, both
payable July l to stockholders of rec
ord June 20, -clomas j. Groom exec
utive vice president and cashier, an
nounced today.
This is continuation Of the divi-
dend action taken last year when a
total of $40 in regular dividends was
paid and 81 in extra dividends, or
total dividends of s12 per share. Mr.
Groom reported a healthy growth in
deposits and estimated that earnings
for the first six months of 1887 would
be quite satisfactory.
The banks stock is listed on the
Washington Stock Exchange, the lat
est bid being s210 per share.
Record Bond Outing Seen.
President Thomas G. Montgomery
of the Washington Bond Club an
nounced today that about $50 reserva-
tions had been received for the an
nual outing set for the Manor Club
next Friday afternoon and evening
This will be the largest attendance of
actual members on record. 40 more
members have been added to the
roster during the past year.
The stock market session, sports,
and the annual dinner will feature
the occasion. The annual election of
officers is also on the program. The
Nominating Committee, of which
Kenneth S. Wales is chairman, has
already announced the slate for next
year. Clark Brown, of Brown, Good
~yn g. Olds, will move into the presi-
dents chair after serving a year as
vice president
Chauncey G. Parker of Auchincloss,
Parker 81 Redpath is slated to be vice
president; George NJ Ferris of George
M. Ferris & Co., secretary and treas
urer, and Frank M. Hall, Hall, Peters
& Bryson. member of the Board of
Governors. T. c. Montgomery. Wag-
Eamann, Brawner & Co., retiring presi-
dent, will also be on the governing
board for the coming year.
The Outing Committee includes E.
B. Olds. jr, of Brown. Goodwin 6s
Olds, chairman banquet, Charles c.
Allies, Brown, Goodwin e. Olds;
tickets, Myles H. Quail, of Y. E.
Booker g. Co.. putting, c. Bayne Mar
bury, Acacia Life Insurance Co.. golf,
Richard P. Dunn, Auchincloss, Parker
& Redpath, horseshoes, Frank ].
Rapee, Waggamann g. Brawner;
prizes, Donald H. Mcknew, of D. H.
McKneW g. Co.; stock exchange,
Harold C. Patterson, Auchincloss,
Parker & Redpath.
New Issues Offered Here.
The Washington Office of Mackubin,
Legg g. Co. is participating today in
new issue of Midwest Piping & Supply
Co. common stock, priced at $ll per
share
Johnston, Lemon e. Co. are partici-
pating an offering of 5000 shares OF
San-Nap-Pak Manufacturing Co..
Inc, common stock which was placed
on the market yesterday at $3.50
share.
New York City bank stocks yielded
little ground during May, according to
Holt, Rose & TToster. The II leading
issues declined 422a points from months
high of 67,66 on May to months low
of 62,e9 on May Is. A rally carried
the average back to 67.2l on May "a
and at the months close of 65.12 on
May %, half of the early months de-
cline had been regained
Insurance stocks in the New York
City market reached a new 1887 low
In May, but regained about half the
loss in rally near the end of the
month.
Market to Close Saturdays.
Governors of the washington Stock
Exchange voted today to close the eX-
change on Saturdays during June,
July and August, beginning next Sat-
Urday, June S.
washington Gas IS, 1858, sold at
1861 on the exchange today, Capital
Transit opened at 1914 and closed with