The Washington herald., 1913-04-11
five millions
gain IN YEAR
Local Banks Have S., 565, 900
More Deposits April 4 Than
on April Is, 1912.
WALL STREET IS SLOW
Washington Stocks Firmer-Dayton
Depositories Get Government Funds
Without Interest.
BY d. A. FLEMING.


During the past year, taking the near
es: comparable dates of calls by tile
Comptroller, as of April IS 1872 and Aprll
T. 1918, the banks of Washington IN
creased their total deposits by over
s5565,00O The comparisons are mace Us
noring hundreds of dollars and cents Ak
each date in even thousands only.
In this showing the national panks
take precedence, increasing ueposI's
s35l9OO0: the trust companies gam Dut
s4i1.Oo1. and the savings banks with one
exception, gamers, show an increase OF
81 $4,000
Some very important changes are motel
H. the trust company section. ana AIS"
IN the national bank compilations. M"st
a. these are eXplainable.
Four new banks report in the 1913 list,
the Federal National, Washington and
SoHthCrn Bank. and the Seventh ana
North Capital Saving Banks. These IN
situations have aggregate deposits OF
SIGl9ooo and they had to draw from
other institutions to "a very large extent.
The Commercial National was heaN*
loser. and so was the United States Trust
Company. while smaller sums were taken
from other banks. The tniGn trust
rnadc heavy gain and the RlsSs Ma
tional passed all records, furnishing
81 So 900 of the increase. The National
SEAllES ana trust NblHl'dllN- hN'f''NN ~
loss II the last sixty days, gets in on
the plus side of the ledger
The saving trend of the people is shown
hy the statement of the savings bankss
with ST. G2l.coo increase.
Money Faster.
The local monetary situation has easei
ND materially. Easter. next to Christ
mas is the largest shopping season, and
;hc retail merchants have reduced their
loans at the banks very materially.
Then. too. the large amount of cash
in the banks and the inactivity in builf-
ing and real estate Is making money
easier. Collateral loans, > per cent; other
rates sash to occasionally per cent.
Wall street.
With the orenine yesterday the mar
ket showed a lirmer tone, advanced
fractionally and then turned rather soft
hut without serious losses and with some
modest gains.
The Pennsylvania $40 100000 Increase IN
capital stock and the $50 900 bond is
sue of the St. Paul Company were fac
tors known before the session opened.
hut seeping into the minds of traders
and investment operators came the
thought that if these good properties
needed millions that other corporations
in the same line would also need more
millions-coming on top OF millions ana
millions of short term notes and ma
turing issues of various kinds Kind
Of endless chain of capitalization WIN
the day of settlement arar on
Il will take another display OF in
side force to carry the market to higher
levels at this time-the tariff disturbance
and it's effect of American business as
vet uncert ain, being another factor suS-
costing a slowing up of pace and begin
ming to encourage the bears, also bit
chastened by their recent losses. But
the movement toward higher prices may
come speedily as an aid to the marketing
of securities.
All the leading stocks showed slight
oranges as a rule. although early in the
session they were 5-Sal Ia better; mid
way i'm the day off fract1onally from
Wednesdays closing and. at the close.
generally l-SaI-i better or lower. At one
time Union Pacific was practically a point
higher. closed is off: Reading at high
was 1-2 better at low IA and at the
close - net gain. Pennsylvania loss 3-S
net on the days operations. Steel COM
mon was up IL and lost the gain.
There were more important changes in
the minor stocks, but they were generally
in fractions.
Local Securities.
An improved feeling was shown,
better investment demand attending on
the loosening up of the money market,
and on the excellent earnings of local
utility corporations
The features of the session were Rail-
way preferred and Washington Gas. The
former sold at 81 to 81 H. and clos
with 81 Ia bid; the latter at Sc, with
one sale at So Is at which price stock
offs, nj ha sloSa with & hid
Railway common was held at 90, with
~ IL bid.
The only sale in Capital Traction
shares. ten ut l23 H. indicated a better
tone with more offered at the same
figure.
Mergenthaler brought e19, Lanston was
offered at So with 81 1-2 bid.
National Metropolitan Bank stock sold
at a00a201 at the close. the bid was 2O3,
and 20 asked Bonds were not offered at
all freely. and We're held very strong.
Sales at 40 for Traction IS, and So 5-S
for Railway As.
Good Earnings.
The month of March witnessed some
thing like business hesitation. Brad
streets say, although the volume of
business for which permits were issued
was larger than either i'm January or
February.
The total expenditure of 120 cities ag-
gregated s1l2l.l45 as against s70.5S9 36S
in. March last year. and s56,O02, AS n
February, 1913. There is here shown
gain of q percent over February, but
4 gain of only seven-tenths of / per
cent over March last year OF the 40
cities reporting, IS show gains, while 81
show decreases. as compared with March.
1912 For the first quarter of the current
year the expenditures aggregate $751;
N2.9S3, a gain of ~ per cent. this fol-
lowing a gain in the first quarter of
1872 of only 1.5 per cent over the like
period of 1911.
Good Earnings.
Gross earnings of the United Railways
and Electric Compay, of Baltimore. for
he year ended December 81 were SSH
1873, an increase of S545 49, The total net
income was A7oS, 12S, an increase of $780,
% Directors declared a dividend of 2
Der cent upon the common stock, an in
,rease of one-half of 1 per cent over the
preceding payment.
Following the announcement that hold
Ars of the per cent notes of the United
Railways and Electric Company, who
he common stock at Is before the close
Of the transfer books at p. m. today,
will, in addition to receiving the interest
On the notes up to that time, also be en-
titled to the dividend declared on the
stock Wednesday and payable on the
9Th of this month, many holders have