The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1912-12-05
Local Financial Matters

| showing there are practically no COM
plimentary deposits
OF the trsut companies so far report
! ing the Union Trust Company reports a
Gain OF sS6-575 The National Savings
and Trust suffers from the fact that
when the previous call was made 1t had
$4,000 Arlington Hotel money in its
vaults. This money has since been trans
ferred, and the net loss OF the old in
stitution is SIS, $50. indicating an actual
gain, provided the Arlington money is
eliminate dfrom all consideration.
The Continental Trust Company loses
SlSS,eA deposits practically all Of which
may be accredited 10 Withdrawals for the
account of Southern and Southwestern
ban,- credits.
The total money deposited in the saw
iugs banks of the city is Ss,164,4e5. as
compared with ss.9OO.l62 on the occasion
of the last call. September l.
II was expected that the savings de-
posIts would show a gain. the savings
habit having been given an impetus dur
ing the last few months.
Most Of the loss that was sustained by
national banks and trust companies rep
resents aid extended to outside banks In
crop movement expenses.
Tonight is the night of the John
Moody lecture on stocks and bonds be-
fore the Washington Chapter. American
Institute of Banking. No man in Amer
lea is better fitted to discuss this sub
ject than Mr.. Moody. Mis- Manual OF
Statistics is recognized authority. He
should draw the largest audience that
has attended any OF the chapters lee
lures.
Potomac Consolidated IS were freely Of
fered at 1Oo7-s and ten 81, 900 bonds found
a buyer at this figure. While there was
some little investment OF money in bonds
the stock market continues to move
within the narrowest Of ranges.
Those who have stocks seem in no way
disposed to get rid of them, while the
cumulative desire is equally lacking.
In the fractions, Capital Traction is
showing its best form. with holders ask
ing higher prices. No sales of Washing
ton Railway and Electric, IS being the
best bid for the common, and IS for the
preferred, with asking prices little
higher, rs for the common 30 for the
preferred.
Quotations on national bank stocks in
dicated to . points difference between
the bid and asked prices, precluding
transactions.
Secretary MacVeagh has called the at
tention of Congress to the fact that in
our restricted ana lntldsllC SSS
TEN there is danger Of a panic.
II this possibility has at last ,dawned
on the gentleman who presides over the
''massed millions in the vaults. 1t would
seem wise that he should see to 1t that
some Of the money finds its way speedily
into banks of the country, to relieve the
present stringency
That there is a stringency is admitted
not only in Wall Street but elsewhere.
The old antipathy to Wall Street is not
specially important. as the scarcity OF
the commodity of exchange Is not the
result of stock operations so much as
by reason of the necessity for the move |
ment to market OF nearly ten billions
worth of crops of all kinds.
Therein lies the usual annual recur- |
rency of shrinkage. Secretary Mac
Veagh has no reason TO wait for the
of Congress. He has the
power to give relief; his predecessors
have given it.
Moreover. It does not sound especially |
panic possibilities. even IL he sees them
in the inelastic currency of to-day.
The Ripley Apartment House in X
Street, between Fourteenth and Fifteenth
Streets Northwest, recently constructed
by Harry wardman, has been sold by
& Luchs for about $500. The
buyer is said to be Mrs. Catherine Wet
more an out-of-town investor.
The apartment site has sixty feet 'front.'
age and 100 feet depth, and is said to
Weld about 5000 a year in rentals. The
building contains twenty-eight apart
nents, and Is thoroughly modern and
lp-to-date.