Evening star., 1914-09-27
FINANCIAL-LOCAL AND OTHERWISE.
By I. A. FLEMING.

When the National City Bank Of new
York decided to open . branch bank in
Buenos Aires they took the first Inn
portant step In the direction of the ex-
tension of the commercial trade Of the
United States with South America.
Yesterday the men whose business 1t
win be to manage and look after tho
bank in the Argentina capital left New
York city for London. whence they will
sail for their future home. .,-
In the party were ]. H. Allen. who will
be the active manager Of the bank, and
needed supply Of clerks. The CONNER
cial agents will keep the manager In
formed on actual conditions in his ter
ritory. Mr.. Allen was formerly man
ager of a large banking business in
Haiti, and understands South American
customs.
For weeks the National City Bank
has been preparing for this expedition,
leaving nothing undone that might
make for the success Of the enterprise.
The bank clubroom has been given
over to the new Institution. and the ex-
pedition goes we'll equipped for com.
sires shall succeed.
Capital Traction Company.
To those who were familiar with the
inside details of the operations OF the
street railways of the District the
fact that the directors of the Capital
Traction Company thought 1t wise to
reduce their dividend distribution was
no surprise. The only wonder occa-
stoned was that this action had not
been taken earlier. Statistics for the
year 1913 show that general ex-
penses." which are nothing more than
and amounted to $20S.21263. while
maintenance Of way and structures
cost but 1852 per cent, or $l36,s6o:15.
and maintenance of equipment III
were within little more than $4,000
of the total of maintenance of way
and maintenance of equipment to-
gether. Any increase in maintenance
would have made the dividend un-
only about $4,000 and much Of the
years betterment had to be charged to
capital account. Liberal general ex-
penses" are sometimes subject to
pruning. and this seems to be one spot
in the proposed sometime resumption
of the heretofore usual per cent dis
tribution. Salary items furnished
large percentage Of the general ex-
penses. totaling $55.700.
Bank Statistics.
Interesting statistics have been COM
piled from the completed statement Of
all the banks of the city and District
made to the controller of the currency
in response to his last call.
Capital stock Of the eighteen savings
banks, six trust companies and twelve
national banks totals SlS,357, ,645. dis
tributed as follows:
National banks. -:.-.-:............ $6.I25,WO
Farmers and Mechanics ........... $4,000
Savings banks ..................... 1,5SO,64o
Surplus and undivided profits, less ex-
penses and taxes paid. toal $14,924,-
1854, as follows:
National banks :.....:...........$o .$o,o409Z a
Farmers and Mechanics .......... 41s,27s.5l
Trust companies ................. l,S26O6
savings oenks ................:. o'<So'seoSV
Total capital, surplus and undivided
profits, $33.2S2, 1914.
Individual deposits Of the institutions
total $69,306,217.7S, as follows:
Farmers and Mechanics' ........ 997 .3s7 Is
Trust companies .ZS,O4S,9oZS %
Savings banks l,ols,voo.EI
Total loans and discounts were $685.
5O,22S.42, as follows:
Farmers and Mechanics ........ 50, ,934.57
Trust companies ................. Z3.O3s, ~
Savings banks ........,........s. S'SLosode.<S
In the Matter Of Reserves.