Evening star., 1903-07-02

Twenty-Five shares of Washington "as
stock were sold on the stock exchange ID
day, which is a large block OF the oas's
Of recent transactions. The price. too. 1r'm
the same view point was large. as II VILE
64H.
A president of one OF the national banks
of the District said today that the of11c"fs
OF the bank had under serious considera-
ton the policy OF announcing that the pahR
would nay interest on all accounts excefs
live accounts.
'If we decide to do this he added. we
are going tc treat all depositors alke. 10
a certain extent we are driven to DO TINS
because of the competition Of the trust
companies. which pay Interest on tneir ue
posits 1t seems to me that this departure
can be made without risk. for The reason
that in the event We are unable to place
our money to better advantage, we can at
least add it to balances in banks IN other
cities and get 2 per cent interest In that
way we won't lose, even II we dont make
money.
There is a sentiment among bankers In
decided opposition to the national banks
going into the field OF the trust companies
or of other institutions which pay interest
on deposits.
s.The two classes of business. said a well
known banker "are entirely distinct. the
trust company is obliged to have large
capital but 1T can loan money on real es-
ia te and on long time. Whereas the ma
tiouai bank with its more limited capital
makes short-period loans and is limited to
commercial paper and collateral loans.
eff YOU examine the statistics of the two
classes Of institutions here you will find
that in proportion to capital the national
banks of this District have more deposits
than the trust companies. What Is more.
the percentage of earnings of the banks is
greater
THE great peril of the proposed change.
in my opinion. will be to bring about
large increase in the bank balances held in
such city as New YORK. III Is peneved
by some that the greatest menace to the
financial security of the country lies In
the policy of the out-of-town banks plac-
ing their money in banks of larger CEN
ters The immense aggregation of money
in one place leads to all sorts of schemes
to employ 1t and one of the results is
the practice of making loans on specula-
tive securities. Then when this money Is
called in there occurs what Is known as
Wall street panic. The increase OF bank
balances beyond the legitimate needs to
meet drafts. etc, is not conservative bank
ing and is liable to be unsafe"
According to a statement of the condition
of the Union Savings Bank on June 30 the
total deposits are 1924 .065.24. an increase
in the past two years of s.Oo,Oo0. The total
resources are S1Or2,374.39 The capital is
$50, O,0O0 and the surplus $4,000.
The buoyant tendency of the temperature
market was today recognized by at least
one member of the stock exchange. who at
tended the daily session without his coat.
There was no attempt to convey the i'm
preston that it a shirt waist or any
other tangled device.
They wore shirt sleeves without disguise,
and the men who were sweltering in coats
and those who sought to have the appear
ance Of being cool by wearing crash suits
looked with envious eyes at the coatless
man. He didn't even wear q pair of gall
luses. but hitched his pants up with a belt
He looked as natural as IL he had been
seen in Georgetown.