BANK CLEARINGS IN U.S.A.

Dominion, Volume 9, Issue 2712, 6 March 1916, Page 8

BANK CLEARINGS IN U.S.A.

Factors which were influential in the United Statos In connection with bank oleari'ngs during ' 1915 rcflcctcd faithfully the general trade conditions which prevailed throughout, tho country. Tho statistics show that never before in the history of America wore the clearings as large, the year being fittingly concluded by a record-breaking total for the month of December. The total for the entire year was £37,215,946,349. while that for December aggregated £4,033,498.900, tho showing for the twelvemonth exceeding by 7.8 per cent-.' that of 1912, heretofore the premier period, while the month's aggregate reflected a gain of one-half of 1 per cent, over October, the previous highest point. Payments on account of great foreign bond flotations, coupled with record municipal bond issues, heavy transactions in stocks, high prices for commodities, and the establishment of oredits with which to pay for war materials. . whether foodstuffs or instruments of destruction, all combined to raise tho volume of bank clearings. The uplift was sufficient to unable New York to establish a now high record, with a total of £22.040,878,527, thus passing a point that had stood for nine years.