Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-09-14
BANKS OF THE DISTRICT
GRATIFYING SHOWING MADE BY
THE REPORTS.
Returns Received for the First Time
Regarding the Condition OF the
Savings Institutions.

The condition of the financial institutions
of Washington is given in the reports made
to Controller Ridgely. under his recent call
for a report of the business of the banks
mt the close of business September 4.
For the first time in the history of the
District, savings banks and similar institu-
lions made reports to the controller as to
the condition of their business, the law re-
Gently passed by Congress applying to these
institutions requiring such report.
There are thirteen national banks in the
District four loan and trust companies and
thirteen savings banks. The twenty-nine
Institutions show combined resources OF
$S1. 15S. 2S5; combined capital stock of ST.
402 394; individual deposits of the enormous
amount of s4SO99, H., and total loans ana
discounts of 45.42395o
The figures show that the thirteen ma
tional hanks have combined resources or
$45.942. 1863: the four loan and trust COM
panies, $50 s63. 1856, and the thirteen savings
banks. S5,353G2S
In individual deposits the loan and trust
companies and the national banks run
neck-and-neck race. The thirteen national
banks have on deposit of money belonging
to District people ST.. 1853 716; while the four
trust companies have an aggregate of WI
Ar, 66S. The savings banks have total of
s4.19l, T3s.
A Most Favorable Showing.
The figures make a most favorable show
ing for the District compared with a year
ago The savings banks were not then in
cluded in the statement. August -. 1900.
the call of the controller showed that the
four trust companies had totaf resources OF
soI ISL CO., while at this time the total is
$40 S6c,. 1856. Their loans and discounts one
year ago were S17,I11,2l6; they are now w.
SIO3l4 The combined capital stock is the
same as a year ago-S6,2O0,VOo. The COM
bined surplus fund one year ago was "
e00.0O0 and undivided profits so6i.i3l AT
this time the surplus account shows total
of 81 100000 and the undivided profits, $685.
.4l The individual deposits with the trust
companies one year ago aggregated Sloolo'-
PA: at this time they are S21 43i 66s.
There were twelve national banks one
year ago and thirteen at this time Inc
total loans and discounts of the twelve one
wear ago amounted to $40 1J9.150. At tn
time the total is So, 1S3,9lI. The total re
sources year ago were S31 400, iS4, while
they are now S45,A2. 1863. The combined
capital stock was SiS2I,OO, and at TINS
time II is SJ4020o0 The aggregate sur
plus funds were 3.195,OO0, and they are
now 81 1870 600, with undivided profits one
year ago footing up SIS3, 139, and at TINS
time sT56 900 The full amount of deposits
with the banks one year ago was S2i'sos'
Al while now the total is 81 4b? Ito
The loan and trust companies value their
banking houses. furniture, fixtures. etc, at
s. Io1 lis. the national banks at S2,U9I,o23
and the savings banks at S43f,O-o
The thirteen savings banks have total
loans and resources of $J,353,02S; total
loans and discounts of S3,369. 10 total PAID
in capital stocks of SSO2.394 total surplus
funds of S10i $50 and total undivided prof
Its of s45.S1O The aggregate individual de-
posts are 81. 191, 73S.
Views of the Controllers Office.
The controllers office is pleased with the
law requiring the savings banks to make
hint r iS he candid nniDiOn that
the law does not go far enough. 1t is al
most certain that the controller will make
recommends ms in his coming annual re-
port asking for further restrictions on
District savings banks if the Intention of
Congress is to be fully carried out.
AS the law stands the savings banks are
required to make reports as to their con-
dition when national banks are asked for
reports, and it is within the province OF
the controller to take charge of the banks
when they are found to be insolvent Ex-
cept in these two points, however, the
savings banks are not under the same re-
strictions as national banks, and do not
have to undergo the same careful super
vision.
In the case of national bank. if the
examiners of the controllers Office find that
the officials making unsuitable or IL
legal loans that are, likely to imperil the
Institution 1t Is within the province of the
controller to call the attention or tne~bank
10 the matter and have a change made. In
the case of the District savings banks the
controller has authority to make sug-
gestions pertaining to their business.
In one or two cases the banks are branch
es of outside institutions and send their
money away from Washington to the home
concerns for investment The controller
has no authority to make suggestions of
any sort pertaining to this or any other
practice.
So far the controller knows. the local
banks have no objections to further amend
ments To existing laws.