Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-01-19
NATIONAL BANKS
INCREASE DEPOSITS
Only Institutions That Made
Gains Via U. S. Trust
Company's Losses.
BONDS MORE ACTIVE
ON NEW YORK MARKET
Local Traction Stocks Stronger.
Not Much Activity, But Bid
Prices Higher.
BY I. A. FLEMING.

ny the District banks in response to the
call of the acting controller OF the cur
rency that the national banks were the
heaviest gamers by the events of late
November. through the diversion of de-
posits from the United States Trust Com
pany. rather than the savings banks or
trust companies. although the latter, with
the exception of the United States Trust
Company. now a part and parcel of the
Munsey Trust Company, made slight in
creases.
The most notable gains in the national
banks were s6S1.457 for the Riggs Ma
tfonal, S316.372 to the National Metro
rolitan Bank, S177.79s to the Second Ma
tional. and more than 100000 to the Lin
coin National, The Munsey Trust Com
pany. proper. increased s150ooO, but the
statement of deposits of the corporation,
Including the absorbed United States
Trust Company, may be expected to show
d decrease in total deposits.
Some of the other national banks made
gains in individual. deposits. but lost in
totals. through shifting around of bank
deposits incident to the new year.
The savings banks held their own eX-
cellently, all things considered. and are
in a position to go ahead with steady
gains, now that confidence has been fully
restored.
At the annual meeting of the stock
holders of the National Savings and
Trust Company, held this afternoon, the
following board of directors was elected:
Woodbury. B-air. John c. Boyd, James
\ Buchanan, William A. H. Church,
Wa ter C. Clephane. Will am V. Cox,
William E. Edmonston, George Howard
George w. Gray, William D. Hoover
Regina d S. Huidekoper. Thomas r.
Jones. Q: H ?. johnson. Victor kauf-
mann, Edward Mclean. Samuel Mad
dox. William F. Quicksall. Frank W.
Weaver and Henry K. Willard.
The only change in the ticket was the
election of John c. Boyd, filling va
cancy.
Immediately after the election the d.
rectors met and organized, re-electing
the old officials.
William D. Hoover. president; Wood
bury Blair, first vice president; Frank
W. Stone. second vice president; George
Howard, treasurer: Charles E. Nyman,
secretary; Charles c. Lamborn. assistant
ireasurer, and Frank Stetson, trust
officer.
Col. Owen T. Reeves. national bank ex-
aminer of Chicago former v of this city,
in commenting On the qualifications which
an examiner should possess. says: "A
itan may be as skillful in figures as the
hest accountant to be had in the land: he
may work in the district assigned to him
ear in and year out without friction Of
any kind: he may be called good fellow
by every banker in the district and at
the same time may be actually the poor
est examiner that ever had a commission
m his pocket. This is a strong statement
and you will want me to explain. 1t Is
because he may lack the very first and
indeed, the paramount qualification. and
that IS the courage to tell the bank.
whether it be one-man bank or a bank
directed and controlled by its full board.
that it is doing wrong when 1t Is doing
wrong, and it must do right, whether it
wishes to or not. He must have the la
Dor in his body first to find out the actual
facts. and then, when the facts are
found, he must have confidence in his
own judgment, SO that he cannot be
swerved from his insistence that wrong
things shall be righted no matter how
plausible the arguments against him, or
how specious. and glowing and rosy the
future may be pictured by the board.
THE bank examiner ought to have the
instinct to scent disaster while 1t is yet
afar of, and correct all bad conditions
as the 1rishman says. before they get
bad at ALL "
Bond houses feel greatly encouraged at
the improvement in the bond market It
has not been as radical some would
IKE 10 have It appear, but there has been
distinctly better feeling that may be
termed a gentle reawakening Of the In
yestment demand.
We're larger than those of any week since
March 80. 1912. Last week the total was
SIS 600, comparing with the cores
ponding week Of 1913 81. 1ss, 900. and the
-ame week of 1912, $e5. 7sS, 900.
Ii is fact that an immense supply Of
bonds must come on the market to meet
maturing obligations during the first six
months Of the year. But for this the bond
market today might be expected to
broader materia ly. and yet it is acting
most encouragingly to bond houses gen.
orally, there being no large issues in the
hands of underwriters just at this
moment.
Then. too. bond prices have been low,
never so low for years. and conservative
investors have been encouraged thereby.
Junior issues, which have heretofore
been neglected, are said to be attracting
some attention.
The only feature on the local stock ex-
change was the STRENGTHENING Of the bids
FOR street railway shares, both Capital
Traction and Washington Railway and
Electric. The latter displayed the best
strength. being Influenced by the good
showing made in the annual statement
made public Saturday. The common
stock. which has been slow and has eased
As low as IS since the investigation of the
commission into the payment of the extra
dividend on the stock. and has gradually
recovered in the neishborhood of SO. was
back to a strong 90, S9Sa9O, on small
sales, and 80 bid. with nothing offered
under o. The preferred stock sold at 90
and c'osed with SO bid and 81 asked
Capital Traction was not pressed to sale
the bid Of 1l3 failing to bring out any
stock
Pending certain negotiations now under
way the local market is likely to move
rather slowly. The case OF the proposed
merger OF the Washington and George
town gas companies has not been pre-
pared for presentation to Congress as yet
and until something definite is determined
the stock Is likely to remain slow but
steady. No unusual developments are
expected at the annual meeting Of the
Washington Gas Light Company early
in February.
Investment and other operations in trac-
lions are likely to be restricted not only
by the limited offerings. but by the delay
in the utility comm ssicn in fling its re-
port in the Washington Railway and
Electric Company's matter.
American Security and Trust stock sold
at 295.
Bonds were neglected. There is a good
oyer-the-counter demand from investors
but not much business on change
Eugene F. Thompson. of the firm of
Crane Paris & Co. was elected q