The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1910-11-27
WASHINGTON BANKS
VERY PROSPEROUS
Surplus and Undivided
Profits Demonstrate
Strong Condition.
By L A. FLEMING


The seventy-one days between the
close Of business September and
November 10. were prosperous ones for
the banks and bankers Of V-asbfna+or
nearly every institution adding ma
teTially 10 its undivided proats account
The period named covers the interim,
between the calls OF the ComnrroI1ar
o. the Currency
Inc showing made BY the hanks IN
dictate that large additions viii bs r7s-a
10 surplus accounts with the end %
the year, and It is also probable tba-
many shareholders viii come IN for
larger percentage OF. dividends in tbs
near future, or az least during 1911
Inc building I'D OF a surplus equal IN
the capital is a hobby with practica1Iv
the head OF every bank Some ind n
hard work, but they stick with a de-
termination that promises well for
eventual success, while others. fndf7g
accumulation easy. develop an anbf-
ton 10 further strengthen their most
ton
Sometimes this ambition DELAYS the
rea lizat1on OF the Shareholders sub5-
ton Tor a larger percentage OF return
on MS Investment, but he finds recon-
pense in the knowledge hat his So
c2r1ties are growing IN value and. ner-
maps IN the fact that his estate vv5f1
yield more for this Conservation 10
profits
The Riggs National has s7s.o17 m
divided profits; the Commercial
-'7sS; the Union Trust S200. 257-
second National. S52654- American
security and Trust, SI45s77- Arnerf-
can National. S37.TS4: Columbia NJ
tional, S47r20I; National CITY s4s Oo0.
metropolitan has added $4,000 10 zr-
plus and has SE4.36s undivided n-oe+s-
Rational Savings and Trust. sSO4.51s-
Union Savings. s2S.5I6. the WasFf1~-
-o7 Loan and Trust. $4,000. Ner-
chants and Mechanics. SzS.66T- Home
savings, S64,55s; Farmers and Ne
chanics's S165.445; Lincoln National.
S24,9I5; District National s24sSI;
Bank Of Washington. s109,10s. East
Washing ton Savings. $4,000. United
States Trust. S1SZ,712, and the Citizens
Savings. -S1S. as
These figures show plainly hat the
banking business in Washing ton. de-
spite the lack Of industries etc IN
IS extremely profitable O. NAV
also Judge wish reasonable certainty
what institutions Will add to rh4fr
The Riggs National Bank has q cant
IA OF Slooo.0e0- surplus Of $500
o0c. st its present earning capacftv
the S2-0eO-0O0 surplus cannot be very
Tar away Tt is the ambition OF its
directors TO have a clean 8, 600, 600
surplus making II a double gold
mark bank when the profits viii be
distributed 90 the Shareholders rather
than aCCumG lated In surplus account
The Commercial National wfl prob
ably carry something to surplus and the
Union trust as we'll The United States
Trust has not established a surplus as
Yet. but Is in position 10 do so from its
profits and probably VII take action
The Farmers and Mechanics the Home
SAVINGS American Security and Trust.
and the National Savings and Trust
are IN position 70 make additions 10 sur
Plus, although the latter Institution has
carried its undivided profits account 10
Iour-nfths . its capital without eStab-
fishing a E,1rDius account The National
Capital, Columbia, Farmers and Ne
chanics- and Riggs have a surplus equal
70 capital OF larger and the Surplus of
the American Security and TrIst. Union
savings National Metropolitan. Wash
inEton Loan and Trust, and Home Saw
ings Banks are rapidly nearing the cap
ital'ZatiOn Of these institution s
T. year 1910 has been one of the
most profitable IN the business. the loan
ing rate rarely easing below ; pei. cent,
with the bulk Of the loans bringing 81
and PEI cent.
The showing made by local banks, de-
spite the enormous volume Of dead
head business carried during the year
as in all other years the collection OF
fDuumerabie drafts without cost to. the
payee-the clerical work necessary to
the care OF thousands Of small accounts
etc. etc, Is certainly an excellent one
The feature Of thu bond market dur
Ing the past week has been the drop
ping OF Capital Traction 5 to a lower
level For years these niEil-ETsde bonds
have been pegged around II4d1I5- Ad-
NIT q q IN o
local list, yet the price level was too
high for a per cent bond in these
times Of high money rates and the cur
rencE- Of the country strained to meet
the demands The drop TO III was not
ACCOMPANIED by any heavy sales but
$500 changing hands. The holders Of
these bonds are probably wen satisfied
7-ith the income and the security The
decline was the direct result of the
HOaIatiOu, of the So S20.O0e Gas IS These
bonds are believed f. be amply. secured
and high grade inv stmeut- That they
sold at 195 20 10 and 10 IGSss was SUI