The Washington herald., 1908-05-31

The accompanying. statement showing
the strong condition # the financial IN
stitutions OF the city is compiled from
the official reports Of the banks and trust
companies. submitted in response 10 the
call Of the Comptroller Of the Currency
on May % last Washington has. subject
10 the supervision of the government
eleven national banks. thirteen savings
banks. and five trust companies, and the
figures are OF these institutions.
The statement shows not only that the
banks have abundant resources for all
the local business needs. but for much
greater expansion Of trade and industry
than now prevails
Assets Mere Than S9O,OOO,OOO.
The aggregate assets of the banks sum
up more than SsO.OOO,OOO- These assets
include all items reported upon, one item
being the value of the banking house.
furniture. and real estate owned by the
banks. amounting approximately 10
S7.OOO.OOO This item. however. is more
than offset in the commercial value OF
the securities Of the banks, which In
most instances are far beyond their face
value. at which they are reported.
For example. the stock of one Of the
national banks is quoted on the Wash
ington Stock Exchange at six times its
par value. and the shares Of only one
financial institution are at the present
time quoted below par. 1t is fair to say
therefore, that the banks Of Washington
are equipped with financial assets Of
more than $50. 900, 900. as the basis of the
commercial prosperity OF the District
That means $500 for each man, woman.
and child in the municipality. reckoned
on the basis Of 100000 population.
AS further proof of the stability Of
the hanks. the item of bank buildings
and real estate, all OF which has real
value equal 20 its appraised value IN the
reports submitted TO the Comptroller, IS
almost exactly equal 20 the surplus OF
the financial institutions, namely: $780,
100 II there is now added to this un-
divided proRts Of $1,6s5,5S0. 1t is seen that
the financial institutions are far within
the safety line on a basis Of S9o,OOO,OW as
sets.
Deposits show Large Savings.
The banks and trust companies have
individual deposits OF 81. .465, 6O5.96. They
have in addition government. deposits o.
s41s5.422. &c. There is also due to othel
institutions $4,412. SASS equivalent to de
posits. These items sum up to $6OOi3.
S7O1O. or $500 per capita, on the basis o
100000 population. over against thi
volume of deposits. representing the saw
ings OF the people. is the item of loan
and discounts. S4S.5l7, ,75l39, showing
margin Of safety between the two whic
can challenge only admiration for tn
management OF the local financial In
stitutions.
Better than all, the statement show
a substantial increase in deposits owe
that submitted at the call of the ComI
troller last February.
A matter Of some interest is the amour
Of money carried by the banks, OF Gel
tain denominations, charged TO the az
count of money reserve. For eXamph
the financial Institutions carry Sl01,1O9
gold coin. Si2192 in silver dollars, S.l57
73O in gold certificates, Sl,195,S0 in silvt
certificates, $75,O79.59 in silver fraction;
currency, and s15sOO.54 In nickels an
cents Possibly the most striking thin
with reference to this money reserve
the few silver dollars in circulation
washington w nllt lDe NaullS VI Il
Treasury Department are fairly burstin
with them. only about $4,000 of the
are carried by the banks. In the Capit
City. at least. the silver dollar is not
popular coin.
Recent Changes I'm Banks.
Within a short period a number
changes have taken place among Il
financial institutions. all Of them pro-
ably In the direction Of greater strengi
and larger facilities for doing bushes
It is little more than year since Il
merger Of the old Bank OF WashingtC
and the Central National into the ne
Bank Of Washington. a step which h
more than proved its wisdom. in tn
the directors have already determined
submit 10 the decision OF the stockholde
the question Of increasing the capi;
stock TO S.OOO,OOO. which will probat
be brought about within the next Il
months
Recently the Traders National Ba
has been acquired by the Merchants a
Mechanics Savings Bank. the charter
the national bank surrendered. and
two institutions united into a stro
savings bank with 10000 capital
More recently still the National c
Bank has gone through process sir
lar to that of the merger Of the
Bank OF Washington and the Cent
National. The stock OF the National c
Bank has been purchased by capitsli
affiliated with the Washington ExchaI