Business: Financial London

The figures as to bank clearings in London during 1924 are interesting when compared with those of Manhattan. Last year, the clearances of London banks totaled practically $200,000,000,000 —an increase of about 8% over 1923. Even so, however, this 1924 total is only 83% as great as the grand total of the Manhattan Clearing House, which was in the neighborhood of $240,000,000,000. Also, Manhattan clearances are only about half of those of the U. S., while those of London are probably 90% of those of England.

The greater concentration of banking in London...

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