New records in daily clearings and deposit gains are being established by the banks and trust companies of Los Angeles. More than three-quarters of a billion dollars in clearings is the record established by local banks for the eight months of the present year ending August 31, which is the greatest showing made for this period in the history of the Los Angeles Clearing House Association.

The clearings aggregated $756,980,000, a gain of $139,480,000 as compared with the first eight months of 1911. The reports made by trust companies, State and savings banks in response to the last call of the Superintendent of Banks shows another gain of $3,634,000 in deposits over the record breaking returns of last June. Aggregate deposits of local banks and trust companies, not including National banks, are $107,327,000. During the eight months of the calendar year the building. permits issued in Los Angeles represent a valuation of $21,511,000, which is equal to the total valuation of building permits issued for the entire year of 1910. It is estimated that the total for this year will reach $30,000,000.

Los Angeles Trust & Savings Bank Expands

There are few trust companies located in the Pacific Coast region which are able to exhibit such a large ratio of continued growth as the Los Angeles Trust and Savings Bank. Its growth is along strictly trust company lines as clearly defined by the State laws. The well known conservatism and excellent management of the bank is attracting an ever increasing patronage. A new branch bank was recently established by this institution at the southeast corner of Grand avenue and Pico street, in the heart of a thickly populated residential and business district. A. D. Everill is in charge and J. A. Hawkins is assistant. The entire building was leased and handsome banking quarters fitted up. This branch serves a growing need for such facilities as the Los Angeles Trust & Savings bank is enabled to extend.

The All Night and Day Bank and the Merchants' Bank and Trust Company of this city have been consolidated under the title of Hellman Commercial Trust and Savings Rank. The consolidated institution has a capital of $1,000,000. Marco H. Hellman is president and Emanuel Cohen, cashier.

New Orleans

Financing the Cotton Crop

Owing to the demands of active business and the increased demand for funds the interior institutions are making an unusually heavy demand for money. The cotton crop will meet the most sanguine expectations and bankers are inclined to extend loans to farmers in order to enable them to hold their cotton until market conditions improve. In Texas there is a concerted movement among bankers to extend loans on a low basis of interest. The situation in regard to cottton is such that there is every promise of high prices and a great increase in wealth from this source. It is also significant that the cotton growers command exceptionally large resources and are inclined to hold their stores until market conditions are entirely favorable.

New Orleans Banks and Trust Companies Make Excellent Reports

The latest statements rendered by the banks and trust companies of this city are most gratifying. The Hibernia Bank and Trust Company reports total deposits of $15,946,000, loans and discounts of $11,269,000, cash $3,905,000, bonds and stocks of $2,941,000, capital and surplus of $3,000,000 and undivided profits of $356,000. The WhitneyCentral Trust and Savings Bank reports total resources of $4,787,000 and loans and discounts of $3,408,000. The Whitney Central National Bank reports aggregate resources of $24,071,000 and deposits of $11,607,000. The New Orleans National Bank has total resources of $6,435,000.

Canal-Louisiana Bank and Trust Company

At a recent meeting of the directors of the Canal-Louisiana Bank and Trust Company B. F. Yoakum was elected a director. Mr. Yoakum is chairman of the board of directors of the Frisco Railroad.

The directors also decided upon a plan by which the book value of bonds held and the value of the bank building on Common street shall be reduced to the actual market value. By this means it is proposed to increase the surplus.

The Minnesota Loan & Trust Company, Minneapolis, has been given the agency for the farm mortgage business of the Equitable Life Assurance Society in Minnesota, North Dakota and South Dakota.

A. H. S. POST, President

WILTON SNOWDEN, Vice-President J. R. WALKER, 2nd Vice-President

Improved Style Check Journal

The Germania National Bank of Milwaukee is using a style of check journal which they consider an improvement over the check journals heretofore used. It shows a total of each individual account, the aim of which is to save time and space in posting-it is necessary to post only the totals of accounts.

The check journal is designed for use with a special adding machine. The Germania National Bank uses a machine with two sets of adding wheels which act independently of each other, like two distinct machines under one keyboard. One set of adding wheels accumulates the totals added on the other set, or if desired, the machine can be used for two separate kinds of figures at the same. time, getting separate totals.

Here is how they use the new check journal: The checks are first sorted into individual accounts, and a journal sheet of five or six columns is inserted in the paper carriage of the machine just like a sheet in a typewriter carriage.

The items of the first account are then listed consecutively on the first set of adding wheels, and a total of the account is taken. The machine prints the total and at the same time automatically transfers it to the other set of adding wheels to be accumulated into the grand total of all checks for the day.

The checks of the next account are then listed on the first set of adding wheels, a total printed and transferred as before. Where an account has but a single check, it is not necessary to list it in the usual way. Instead of this it is listed directly on the second set of adding wheels, the machine printing a sign after it to designate it as an item to be posted.

JOHN MCHENRY, Treasurer

T. H. FITCHETT, Sec's and Asst. Treas. C. I. REYNOLDS, Asst. Secretary

As stated above, the special advantage of this style of check journal is that it saves time and space in posting. For instance, if there were fifty checks under one account it would be necessary to post only one item-the total. The check journal furnishes the detail.

The Germania Bank does not enter the names of customers on the check journal, but any bank that wants to do so, can, of course, use a little different form and fill in the names. Account numbers can also be filled in opposite the first item in each account on journal sheets like the one used by the Germania National Bank, if desired. This makes it easy to find any item in the check journal. After all the items have been posted from the journal sheets, the sheets are filed in loose leaf binders and are always accessible for ready reference.

What Is the Cost?

The Security Trust Company of Rochester, N. Y., is distributing a brochure in which a strong argument is made of the fact that the law in New York fixes the same fees and commissions for executors or administrators, whether trusts are executed by individuals or trust companies. Emphasis is placed on the advantage that patrons of trust companies obtain without additional cost-advantages which cannot be offered by individuals acting in fiduciary capacities.

There can be no doubt that the people are becoming more appreciative of the value of trust company service, its greater economy, safety and perpetuity. In New York State the fees and commissions defined by law are most reasonable.