Evening star., 1938-02-28
CLEARINCS DROP
HERE IN MONTH
$84,231,245 February Total
Below Year Ago and
Previous Month.
BY EDWARD C. STONE.

feDTudry were OH IlOQeTdlely 1TOII
the same month year ago and the
short month also disclosed the usual
modest decrease from January, ac-
cording to the monthly report made
this noon by the Clearing House As
sociation.
Clearings in February this year to-
tailed $84,23l ,245.06. in comparison
with $92.192, 2,370.58 in February, 1887
decrease of S7.96l, 1852.
Bank clearings in the Capital in the
first two months of this year totaled
$l77,667, ,363.93, as compared with
$l92,754, ,454.46 in the corresponding
period a year ago.
January clearings amounted to S93,
436, 1887, against slightly more than
$l00,000,000 in the opening month OF
1897. Today's February drop had
been anticipated as the weekly figures
revealed small decrease each week
Bank Stock Values Cited.
According to recent compilation
made by Johnston, Lemon g. Co. the
book value per share of Washington
bank stocks. as of December 81, last
was as follows:
American Security & Trust Co.
$245l9; Anacostia Bank, $29910;
Bank of Commerce & Savings
$35509; City Bank of Washington
S2196, Columbia National, $33864;
East Washington Savings, S2433;
Hamilton National, 1921; Industrial
Bank of Washington. $17.79; Liberty
National, $l76.64; Lincoln National
$309.03; McLachlen Banking Corp
$l12.38; Morris Plan Bank, $500,
Munsey Trust, sl720l; National Bank
of Washington, S163l5; National Cap
ital Bank. Sl9832; National Metro
politan, $3l664; National Savings &
Trust. s306.43; Riggs National
s256.42; Second National, Slll16; Sc
curity Savings & Commercial s212 38;
Loan g. Trust, $348.7l.
The Bank of Commerce & Savings
paid the largest dividend, $3.50, dur
ing 1887. American Security & Trust
paid $40, and Riggs National paid $40
including a 81 extra. Washington
Loan g. Trust also paid $40 during
the year.
The National Metropolitan paid 50
including a So extra, and the Lincoln
National disbursed So in dividends
while several other banks paid SUBJ
stantial amounts during the same
period, the summary shows.
Arundel Earnings Higher.
The Arundel Corp of Baltimore,
which does sand, gravel and con-
tracing business and has a good many
stockholders in Washington, reports
for the year 1887 net profit of S813,-
724 after depreciation, depletion, Fed
eral income taxes, etc, equivalent to
$l.68 a share on 483,S51 shares of
capital stock, excluding 8,7O5 shares
held by company. This compares with
s63l,116 or sl.30 share in 1886.
Joseph v. Hogan, president, told
stockholders that ncompleted con-
tracts on company's books as of jan
uary l, 1888, represented value of
$7,185,543. which compares with
s8.366,779 as of January l, 1887, and
with $6,2l6,46l AS of January l. 1896
Total construction work completed
during the year amounted to SILL
294.699. He also said that sales of
sand. gravel and stone during 1887
showed an increase of 1913 per cent,
commercial Stag showed decrease of
2l.85 per cent and free mixed con-
crete showed an increase of 4485 per
cent
Says Words Would End Slump.
The right sort of words alone would
restore prosperity to this country,
Maj. L. L. B. Angas told the House
Banking and Currency Committee,
testifying on the Goldsborough bill.
Words could cure this slump he
said. If I were king I would say
that profits are too low in this coun-
try and wanted to see profits up
would say that prices were too low
for fixed net charges and I wanted
to see the general price level raised"
Maj. AngaS explained that if this.
IN substance. were said, combined
with the threat of imitation, which
threat could be made good by the
one who threatened, and business
knew this to be the case, it would
give the kick" necessary to bring
back prosperity.
Attend New York Banquet.
Washington's large delegation at the
annual dinner of New York Chapter,
Ty,c sc
day night, included:
Francis G. Addison, jr., Bank of
Commerce g. Savings: Wilmer J.
Waller, Hamilton National John A.
Reilly, Second National; Mrs. Myrtle
P. Lewis, Liberty National; R. Earle
Haycock, Riggs National; William H
Laushlin, George M. Fisher, Ralph
Endlcott, Washington Loan & Trust
Co.; Paul j. Seltzer, American Sc
curity & Trust Co.: j. Earle McGearv,
w. B. Hibbs & Co.; Joseph R. Fitzpat-
rick. Second National; Earl M. Amick,
I. j. Roberts, H. T. Bisselle, D. J..
Callahan. jr., Riggs National; James
A. Soper and Richard A. Norris, Lin
coin National.
Today's Trading on Exchange,
Opening of the weeks market on
the Washington Stock Exchange TODAY
was featured by sale of 100 shares
OF Capital Transit stock at 8A.
This compared with the last previous
sale at 8. The market closed with 81
bid and S12 asked, very small spread.
Washington Gas IS, 1888, sold at
10412 on the exchange today and there
was sale of Carpet Corp. at 81, same
as the last previous sale.
Heard in Financial District.
Mariner S. Eccles, chairman of the
Federal Reserve Board of Governors,
will give an informal talk at the
weekly luncheon at the National Press
Club Wednesday noon.
Harry G. Meem, president of the
Washington Loan e. Trust Co.. has
returned from a short trip to Rich
mond.
Marshall O. EXniciOs vice president