The Washington herald., 1912-10-27
bank or banking institution under this


Other provisions relate to the holding
of lawful money on deposit with bank
or trust company supervised by the
Comptroller or the banking department
Of State equal to 10 per cent Of the
savings deposits and % per cent Of all
other deposits.
Section q That from and after the
LIST day of January. 1913 no company,
association. or corporation shall transact
q banking business or maintain q bank
ing business or ONCE where depositors
savings are received within the District
of Columbia, except organisations organ
lied under the national banking act and
corporations organized under act Of Con-
gress to provide for the incorporation
of trust, loan. mortgage, and certain
other corporations organized under this
act, and any person. firm. or copartner-
| ship now engaged in the business Of
private banking in the District of Cofsm-
bia, but no person. firm. or copartnership
not Incorporated under an act OF Con-
gress and now engaged in the business
of private banking in the District not
Incorporated by any act Of Congress or
that may hereafter engage in the busi-
ness of private banking in the District.
shall advertise or put forth a sign hav-
ing any word or words indicating that
such person or firm or copartnership is
a corporation formed under this act"
Attorney Darlington. at the request Of
Secretary Poole, expressed doubt as to
whether Congress can authorize two
thirds Of the capital stock to compel q
dissenting minority to abandon existing
charter Of such institutions. II the
courts should uphold the contention Of
minority shareholders II would not re-
suit In the annulment OF the law. but
would prevent "such institution from
continuing to transact banking business
or to receive deposits or savings within
the District"
All things considered. It looks very
much as II this were an ample subject for
consideration by men vitality interested
in banking.
The net earnings Of the District Ma
tionaI Bank, from September l, 1911. to
September 4. 1872. were M,1I. The net
funds Of the bank increased from H,7so.-
90l to s2090. .od.
The bank earned la per cent on net
funds, GIL on capital and surplus. and
7.46 on capital. or Lag per cent more than
its dividend.
The North Capital Savings Bank will
open for business next Saturday even
ing, November 2.
While not organized under the laws OF
tne tHc TtdSOh tHdt oaAA
desires more directors than the laws OF
the District permit. It will comply with
the requirements in the proposed bank
legislation mentioned above. in that 1t
will carry double liability for every
share of stock; that is. each stockholder
is liable for deposits. &c< to twice the
par value Of his shares.
The net earnings of the National Capi-
tai Bank for the year, September l, 1911.
to September 4. 1872 were $21 sos. Net
funds increased from 81. .350.Sss to s.. 11S. .3o9.
The bank earned l56 per cent on net
funds, AS per cent on capital and sur
plus. and 1o.75 on capital
The feature Of yesterdays operations
in an almost featureless market was the
strength of Gas. 1t was bid up from
IS 5-s, Fridays figures. to S. and some
sales were made at sS 3-S. None offered
at the close under S6 L.
The rest of the market was not worthy
Of comment.
The Washington Herald will endeavor
to answer legitimate questions regard
ing securities listed on the Washington
or New York Exchanges.