The Washington herald., 1913-08-13
District Bankers Repay
$SO0,000 Tax Money and
Lose $43S,027 More.
GAIN $5,4OS,OOO In YEAR
Wall Street Market Enjoys Continued
Boom-Local Securities Were
. Very Slow.
By 1. A. FLEMING.

terday, declared that il was not so muci
case of reducing bank balances, bu
that the great army of the government
employed and many others as well diC
not put their pay into the banks July
and Is and August l with the same
avidity and saving desire that they usu
ally did on other pay days, but carried
il away for expenses.
But there are many OF the moneyet
interests of the Capital that have beel
out of town, and between both Interest,"
Washington has lost in bank deposit!
during the period from June 4 to Angus
8. inclusive, siSS, 027.E
In fixing the cost Of the good old sum
mertime another s2,500.0oo might easily b,
added for the actual cash taken never
in banks. which returneth not
In addition to the deposits lost, as show
by comparative statement, the banks
have repaid to the government ss00,0ot
tax money, making the total apparent
loss. August 8. as compared with June l.
H,2s, o27.4I. to be exact.
There was a strong hint in the recent
communication TO bankers from tn,
Comptroller's Office. seeking information
as to the activities of the banks in as
sisting the crop movement. In the origi
nal text replies were asked with the
next CALL but this was erased and
August g." substituted.
"CaIIing, Habit.
The call came yesterday morning and
it was for August 8. Under the law the
Comptroller must call five times year.
There is no record of more than five
calls in the memory of the street, nor
is there records of four calls in but a
little over seven months.
Not until former Comptroller Murray
broke the record had there been calls on
Saturday pay day in the nation, and the
cash paid out on that day does not get
into banks again for several days.
All these exceptions We're repeated in
the call yesterday.
1t is likely that many big bankers will
be caught shy on their reserves. Chi
cago, New York. and other crop moving
centers will indicate this more plainly
than other national banks. Moreover,
VIII Street is enjoying a pretty little
boom these days.
With the call sent out yesterday by
Acting Comptroller Kane was an ex-
planatOry circular on the questions
asked by him about Thursday of last
week and which were published exclu-
sively in this column under the caption,
Secretary McAdoo Wants to Know"
The circular says:
rency has issued a call on the national
banks for a report of condition at the
close of business Saturday, August .,
1913. In addition to the regular form
of report in use by the department, all
banks have been requested to send in on
special forms furnished for that purpose
detailed statements of all money loaned
to other banks, as well as all money
borrowed from other banks in the form
If in
other manner.
Banks have heretofore been required
TO show in the reports of condition notes
and bills rediscounted for them by other
banks, and money borrowed on bills pay
able and other obligatios from other
banks, but have not been required to
show in detail loans made to other
banks. The new form will show both
sides of such transactions. SO that one
may be checked against the other, and
from standpoint Of practical purposes
will enable the Comptroller to more
easily determine what sections of the
country are in need of additional circu-
lation at stated periods of the year.
what banks accommodate their CORE
spondents in such sections and, in ad-
clifton, should also enable the Comp
troller to more easily ascertain what
banks borrow, in order TO meet legiti-
mate discounts and varying conditions.
and what banks should be listed as
chronic borrowers; that is, those which
borrow to reloan in normal times.
This amplification of reports of con-
dition is in line with the policy to OBJ
tain from these reports as much in
formation as possible to serve practical
as "ell as statistical purpose. With
this end in view. the forms used by the
department are being analysed and con-
sidereG"
The Banks Showing.
The statement of the national banks, |
trust companies. and savings banks is |
given below without comment as to the |
changes. They are evident to the reader. |
The total deposits of the banks of the |
District are s1, i29, 46l. Prosperity has |
been with Washington during the year.
for these figures show gain of over
s.. 900, as compared with the total de-
7 osits Of the nearest cali date last year.
l. The fourth seems to be u
favorite date, or has, up to this time.
Stocks Higher.
There is little question that between
now and September 2 the date when
right to subscribe to Southern Pacific
stock at 90. plus per cent dividends, is
Withdrawn from Union Pacific shareho,d-
ers, the Wall Street market will give
good account of itself.
1t was not this announcement that
started the whirl in the last fifteen mir
utes OF Monday. 1t was the fact that the
Dig fellows are in the saddle; that they
want this Southern Pacific stock trans
1erred once and for all in the interest
OF the desired complete divorce of South
ern Pacific from Union Pacific, and e
good showing is always a temptation to
investment They were pushing yester-
day; quit the old as the session wore on.
and Jumped over in Copper and S;nelt-
ing, and gave these laggards of a day
ago good advance, two points each.
News Geographic, crop gossip, Con-
yressional reports, Albany impeachment
Lonsons action, Balkan
news, weather reports, all the usual in
1uences that go to make an excuse for
he price movements on Wall Street did I
not count for anything.
Real Money.
1t was a case of real money back OIL
he list and of continued buying. ri
here was little reaction before thel
lose, so that full advances were notl
leld. throughout, il vas nothing MORE
han the profit taking OF wise trailersl
Who have seen the movement and who
re cashing in.
None of the gossipers whisper Standard, q