Evening star. [volume] (Washington, D.C.) 1854-1972, 1940-01-31
D. C.; Bank CIearings
Soar $1O,712,586
During January
Total $l07,l37,093,
Highest for Like Period
For Past Nine Years
By EDWARD C. STONE.

away 10 SplellQlU SUdTG III Jllc III 81
month of 1910, were the highest of
any January since 1881, and, as one
of the best known trade barometers,
indicated further substantial i'm
provements in business activity in
the Capital.
Clearings in January in the Dis
trict totaled $107, 137 ,09317. in COM
parison with 500 424,5O6 in January
1899, sharp increase of $10,7l2,-
$685., Manager George H. Bright
of the Washington Clearing House
Association, reported this noon.
Clearings were still farther ahead
of January, 1888. when the total
stood at $93,436,11S87 The lowest
point for clearings in the past 10
years was in 1884, when the figures
dropped to only SIS, 737 ,297 ~, today's
report revealing total of nearly
double that amount.
In making the best January record
in the past 9 years, today's clearingS
of more than SLOT 100000 compare
with $109, 76434 in January, 1881.
With the exception of June, october
and December, 1889 today's clear
ings were better than the other
months last year. They also furnish
the first denite indication of business
conditions here in January.
Bank clearings in Washington in
the full year, 1899, registered gain
of S59,432,31175 over 1888. Clearings
in 1899 totaled $1,206, 088 ,02907,
against S1,146, 655, 1872 in 1888. With
the exception of 1887, that was the
best record in eight years. 1t is
evident that the sharp upward trend
which developed late in 1889 is being
carried into 1910, as had been FORE
cast.
AnacOstia Joins Loan League.
The Anacostia Building Associa-
ton was admitted to the District of
Columbia Building and Loan League,
bringing the membership to % asso-
citations at the January meeting at
the Raleigh Hotel yesterday. Ana
costa Building, established in 1924,
is headed by Albert Lindstrom with
Frank M. Dent, vice president;
James C. Wood, treasurer, and
Walter B. Hartman, secretary. A
member of the Federal Home Loan
Bank System and the Federal Saw
ings and Loan Insurance Corp, the
association lists assets of $4,000.
Horace Russell, general counsel of
the United States Savings and Loan
League, and Morton Bodfish, ex-
ecutive vice president of the body,
were guests at the luncheon yes
terday. Mr.. Bodfsh paid high
tribute to the record of achievement
of the local league.
Martin A. Cook, general chairman
of the Banquet Committee, said that
all committee chairmen are func-
tioning successfully and the greatest
turnout since the event was begun
seven years ago is looked for at the
Mayfower, March %.
Agency Captures Sixth Place.
j. E McCombs, general agent of
the Berkshire Life Insurance Co.,
announced today that his agency
ranked sixth in the entire company
for the year 1889 on the basis of
new paid life insurance. The agency's
production was almost SO per cent
ahead of 1888. A great deal of credit
he said, must be given four new men
in the agency, John Humphrey, jr.;
Robert Adams, Edward NJ Cooper
and Lafayette Franklin, jr. Mr.. Nc
Combs predicts that 1910 will be a
fine insurance year, basing his fore
cast on the fact that business in his
own Office in January was triple
January, 1899.
The dollar volume of retail financ-
Ing of new passenger automobiles
was 249 per cent higher in Deem
Der than during the same month of
1888. and 1914 per cent higher than
December, 1887, according to the De-
partment of Commerce. AS COM
pared with November, 1889, there
was an increase of lit per cent
George j. Schaller, president Of
the Reserve Bank of Chicago, has
been elected to the Federal Reserve
Boards Open Market Committee,
for the seventh and eighth districts,
the alternate being William Nc
Chesney Martin. president of the
Federal Reserve Bank of St. Louis.
Sales of Wholesalers Rise.
Sales of 2,608 wholesale firms
representing all parts of the country
increased "A per cent in December
over the same month in 1888, the
Commerce Department announces,
sales amounting to SLIT $4,000
During 1889 as a whole, sales of
2276 wholesalers, amounting to
$1,956 ,218000 were CT per cent above
the year 1888 Of SO kinds of bust
ness, 80 recorded increases during
the year. metals heading the list
with a 20 per cent gain.
Collections on accounts receiv-
able during December 1899 for 2,184
wholesalers showed little variation
from the same month in 1898 and
was up slightly from the previous
month in 1889 In December 1899,
rs per cent of the outstandings were
collected during the month.
Housing Funds Held Ample.
A vast majority of bankers
throughout the country believe that
housing problems in their localities
can be solved adequately by private
capital, according to survey of real
estate conditions contained in the
February issue of Banking Maya
zine, official publication of the
American Bankers Association.
The survey brought replies from
zoos bankers to the question: do
you believe that the housing prob
lem in your area can be solved ade-
quately on a sound and profitable
basis by private capital?" OF the
total replies, 1,704 were affirmative
149 expressed doubt, and only 2l5
were negative.
In the magazines real estate
survey, published in January. bank
ers in every section of the country
except the Pacific Coast States. ex.
ae%a te