Evening star., 1914-09-26
CITY NATIONAL BANKS
HOLD 25.99 RESERVES
Individual Deposits, $28, 35,11s.99
Other Interesting Statistics of
Their Condition.
BY I. A. FLEMING.

| By !. a. FLEMlNG.
The legal reserves of the twelve ma
tional banks of Washington, reporting
| to the controller of the currency as to
| their condition at the close of business
March IL. averaged 25.99 per cent of
deposits, or O.99 per cent above the
actual requirements Of national bank
| ing law for reserve cities.
| The Farmers and Mechanics OF
Georgetown, reporting separately to
the controller, shows reserves Of 1883
per cent.
| Lawful money in the reserve in the
twelve banks aggregated $5,104,7Ss.26;
| the per cent redemption fund held by
the treasurer for the redemption of
circulation, $307.025, and cash with re-
serve agents, s2,55S,419.25.
| Individual deposits aggregated $751;
S35,11S.99; United States deposits, $3.-
771.s25.4s; postal savings deposits in
the banks, s132,120.O5.
| The Farmers and Mechanics National
Bank of Georgetown reports $SS,261
| lawful money, $13,750 in 5 per cent re-
demption fund, $217, 7,649.44 due from re.
$997.
Total loans of the twelve banks. $780,
56S.2S2.75; for the Farmers and Me-
chanics'. $s79,s34.57.
/
tional banks is given as s6.725.0
Georgetown bank, $252.O00. Undivided
| profits of the twelve, $696.67S.47; of the
Georgetown bank, s12O.27S.51.
| Surplus report shows national banks
| In the city reporting $4.S4s.250 and the
Georgetown bank s298,000.
Signs Of Prosperity.
From many sections of the country
| come evidences of decided improve
| ment in the business situation. It is
| not confined solely to betterment In the
| money market, where the efforts of
the government have been specially
| directed, but is general and has even
extended to the cotton situation. where
the most depressed conditions. calling
for countrywide aid. have prevailed.
1t is expected that spinning operations
here and abroad will be greatly en-
larged in the immediate future. Steel
and iron are showing some improve
ment. the placing of large foreign or
ders having much to do with recover
les, while construction work promises
early resumption.
An evidence of improving conditions
Of no small importance is found in the
condition of the metals markets. not
precious. Tin, which advanced to 72
cents pound, is again back to 80
cents; antimony was 81 cents, has been
down to and Is now 10a11 cents a
throughout. These metals enter into the
composition of all white metal alloys.
babbit, solder and type metal Anthony
Is also around normal prices. Austria,
are the best markets for antimony,
which is also used in smokeless pow
der. so that Chicago is now the best
open market for it. Tin comes from
Wales, Holland. Singapore and the
English Straits Settlements.
" In Washington.
In our own local security market
members Of the exchange report a very
good demand. steadily increasing, for
high-grade stocks and for nearly all
Of the bond Issues. Mergenthaler is
said to be quoted a little under last
Washington Gas is likewise of a lit
tie. Capital Traction in the few sales
made has demonstrated the fact that
the cut in the dividend was practically
discounted. Traction, Washington Gas
and Railway 4s and Potomac and Elec-
trio bond issues are wanted at steady
figures.
There is no reason why there should
shares This is a profitable season for
banks. The average Of loans for the
last few weeks has carried at least a
six-per-cent rate, and most of the Dis
trict institutions have their surplus
funds well placed, and are also using
emergency currency to their profit.
Another Indication.
Another indication. and a strong one,
comes in the overdemand for the New
York city short-term notes. Subscrib-
ers to small amounts have generally
secured full allotment. to round lots
only partial subscriptions. while those
who indicated issues that they de-
sired, 1915, 1916 or 1917. were told that
they could not be accommodated, but
were given the chance to take Wnat
0ey could get.
The quotations. on these bonds are
about as follows: For 1917, 102h bid;
for 1916, 1O1 bid, and for 1915, 100A
bid; asking price. V higher than bid.
1t seems rather strange that $4,000, 900
of these notes were subscribed for by
London, which might reasonably be
considered another indication of bet
ter times. unless some of our smart
ders would receive preference, placed
their commissions through brokers on
the other side.
Financial Notes.
New York city banks gained $11,300.-
900 in operations with the Treasury
Department during the week.
Omaha grain traders have asked the
interstate commerce commission for a
10 per cent reduction in freight rates
on grain entering Omaha. Rather Pc
culia- action in the face Of the condi-
tion OF weston roads.
Twenty-three roads reporting aver
age weekly railroad earnings show q
| loss of 6.26 per cent.
American Shipbuilding Company
passed It's dividend.
Extensions from october 2 to Novem-
ber have been made on the second
payments on Southern Pacific subscrip-
| ton rights, amounting to 81 cents Q
share.
Clafiin Company reorganization plans
propose payment of s cash, S6 per cent
| in three-year collateral trust notes.
Mercantile Store Company to handle
the retail business and H B. Clafin
| & Co. the wholesale.
| Jersey Central earned 20.s6 per cent
| on its capital stock, decrease of
| little less than per cent
THE COURTS.