Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-12-31
THE DISTRICT BANKS
LARGE INCREASE SHOWN IN
THEIR RESOURCES.

"The banks and trust companies In
Washington during the past year have
had a large growth said Mr.. John JOY
Edison, in an interview on general business
conditions. 1.-THE resources have In
creased 50, 7190O0, making total of $685.
6s0,O 0O as shown by the last report to the
controller of the currency. This, OF
course is exclusive of savings and private
banks, which are not under the supervision
of the controller and do not report TO
that office. They. however. have prospered
and have shown, I have no doubt, pro-
portionate advance.
THE increase in deposits in national banks
and trust companies amounts TO $3.654 COO,
making an aggregate of S46o9J,OO the
loans of the same Institutions have in
creased $61S, 900. making total of S3S.116.-
600. The surplus and undivided profits
amount to S6,6S1, 600, an increase of $bS4O0
These figures show satisfactory and pros
porous condition.
Manufactures and commercial enterprises
have not materially increased, and this
growth in financial strength may be at
trfbuted to the reflex action of I'M
precedented national prosperity; second. by
the growth in population of the District of
Columbia. which since 1900, shown by the
last census has been 5000. and, third,
wonderful increase in the number of peo-
pie who do a banking business, that is, to
the extent of opening accounts and draw
ing checks on the same. People in the past
few years have been more educated than
ever before to the great convenience and
desirabilty of conducting their business,
however small or large in volume, and pay
their current expenses through bank.
Would Mean Stride Forward.
Should manufactures locate here, as
indicated in the recent action of the Firth
Stirling Steel Company, we would see ire
mendous stride forward in banking and in
all branches of business, followed by other
benef1cent results, such as the opening of
fresh avenues of employment and oppor-
tunities for careers In Washington
Perhaps it is interesting to state that
the amount of resources of the national
banks of the District exceed the similar
resources in either New Hampshire, YER
mont, Delaware North and South Car
olina. Florida Mississippi, Arkansas,
North and South Dakota, Montana,
wyoming, Oregon, Utah or Nevada.
They are also greater than those of
the cities of Albany Brooklyn. Louisville,
Columbus, Detroit or St. Paul The District
of Columbia also exceeds many of these
states and cities in population, in some in
stances six or seven times over. One may
compare the wealth of the District with
some of these states by noting that in the
lowest of them, Nevada, the national bank
resources amount to only s., 2G65Go, with
Florida next with 81, 625, 900 Thus we see
sixteen states, almost third of the Union,
that fall below the District in wealth and
many of them in population.
The expansion of the country in acquir-
ing Porto Rico, Hawaii and the Philippines
and its immense increase in population have
all had great effect on the development of
Washington, the capital Not only has this
increased its population but has increased
its business. AS the country grows, which
it is certain to do, all the indications are
that Washington will grow, and we will
make greater progress than ever in all d.
rections. 1t will be greater in the next
twenty-five or forty years than it has been
since the civil war
Washington is unlike any other city In
the country. It's growth and progress are
eoincident with the growth and progress of
the nation. In connection with the growth
of the capital city the point has been
reached when a great public building, that
Will be suitable for the inaugural ceremo-
MES, for conventions and for other public
purposes has become an absolute necessity
Il should be designed of ample proportions
and on classic lines. Sufficient funds must
be. and no doubt will be, provided. Com
missioner Vests active and philosophical
efforts should be appreciated, and the citi-
zens of Washington should give him their
most cordial and substantial support"