Evening star., 1942-04-30
D. {. CIearings Set
Record for April
And -Four Months
Lotest Report Shows
Volume Far Above
Peaks of 1929
By EDWARD C. STONE.

Peaks of 1929
BY EDWARD c. STONE.
Bank clearings In Washington IL
April shattered all previous record
for that month in the Capitals his
tory and also set a new all-tim
high mark in the first four month
of the year, George H. Bright, man
ager of the Clearing House ASso
citation, announced today.
Clearings in April totaled Sl57,
760,113.43 against $l47.87l,745.6 il
April a year ago. a jump of So.
8SS,36782 This total was far aheat
of the famous year 1929 when Apri
clearings reached $129 800, ,050.37
causing wide comment and genera
surprise.
Bank clearings in the first foul
months of 1912 totaled $500 ,918,'
s8l l.43, todays report shows. agains
$685. ,180.98 last year, SHARP
increase of $85, 1903, ,700.45. Cancelled
checks in the like period IN 1872.
totaled $5O0,183,3l105.
The April report indicates thu
best business for the month or
record and also discloses very heavy
spending on the part Of Capita
residents, bankers said. Clearlngs
so far this year compare as follows
with the corresponding months In
l94l:
January s16s.s15.ss4 $132,1s7,2s2
February 13s.252. sos 1897 Dbl
March 15s,OeO,277 136,ss4.b5f
April 157,160.1I3 147,s71.74s
War Bond Buying Urged.
Our chief object right now is to
help place War savings bonds in
every household, as it should De
understood that this war must be
financed in a great part out OF the
income of the rank and flle OF cltl-
zens If havoc is to be avoided, Presi-
dent o. X. La Rogue of the Federal
Home Loan Bank Of Winston-Salem
declared after conference here
with the II other Home Loan presi-
dents, Home Loan Administration.
Treasury officials and the National
Housing Agency.
Every citizen has an individual job
to do If we are to win this war, ne
continued. We have all got to con-
tribute our money and our services.
No one can overemphasize the
necessity of regular purchase of War
bonds, not only in daily overtime
counter sales, but in weekly and
monthly payroll deductions and
through other group plans. Every
dollar raised from taxation and
War bonds helps to make unnec-
essary less sound ways Of financing
and guards against imitation.
The money citizens invest today
from their current incomes will
bring 4 threefold dividend-further-
ing the fight against the totalitarian
forces which seek to subjugate free
people everywhere, lessening the
immediate threat of imitation, which
would destroy the value of savings
and property alike, and providing q
reserve of privately held funds
which will provide a huge volume Of
purchasing power after the war Is
over, the bank oficial asserted.
Housing Loans Impressive.
Turning to housing. Mr.. La ROGUE
said that the $3.50 member institu-
tions of the bank system are CO.
operating in every way to produce
the homes needed for war workers.
A total of 81 400 900 900 was loaned
by savings and loan associations in
the bank system in war industry
areas in the 20 months from the
start Of the defense program up to
March /, 1912.
He added that nearly a half billion
dollars of this amount went directly
for the construction of new homes,
and that an additional 1854, ,000, 900
was loaned for the purchase of
existing houses. Another $50, ,000, 900
was loaned for home repairs, mod
ernization and conversion of existing
housing to provide additional units
The Federal Home Loan Bank of
Winston Salem, which Mr.. La Rogue
heads, provides a credit reserve for
406 building and loan associations
In Alabama. District of Columbia,
Florida, Georgia, Maryland, North
Carolina, South Carolina and Vir-
ginia.
Washington Gas Net Lower.
Due principally to increased taxes,
net income OF the Washington Gas
Light Co. in March totaled $50 ,879,
against $240,l59 in March, 194l, a
decrease of $40 ,280, according to the
monthly statement just filed with
the Public Utilities Commission.
Operating revenues amounted to
N,l70,948, an increase of $50, ,859
However, operating expenses in
creased $96,l82 over 194l to a total
Of 1891 ,450. causing reduction in
operating revenues Of 1892 Nom
operating income was practically
the same as last year and income
deductions were $6.112 higher.
The result of operations for the
first three months of this year was
a net income of 1868 ,253 compared
with s754.839 for 194l. The decrease
of SOL ,586 was due to higher taxes
provision for which was approxi-
mately sl53,000 greater than in the
same period last year.
The monthly report also shows gas
sales of ,375, 1872 M cubic feet for the
month, compared with 1,76l OH M
cubic feet for March last year
There were 179,863 meters in service
In the District of Columbia or
March 81, 1912, a gain of per cent
over last year.
The company expended approx.
mately Sll6,000 in March and 1885,
500 in the first three months OF thi'
year for extensions to its property
in Washington.
Firms Getting Up in Years.
Some of the Oldest member flrm
of the New York Stock Exchange
have Washington offices, accordini
TO the 1912 Year Book. just out
Alexander Brown g. Sons started II