Evening star., 1915-03-08
BANKERS MUST REPORT
ACTUAL NET DEPOSITS
Ruling of Controller of Currency
Eliminates Complimentary Ac-
counts and Checks in Transit.
Call for Showing of Banks at Close
of Business March Railway
Preferred Strong.
BY I. A, FLEMING.

BY I. A. FLEMING.
The controller of the currency toda.
issued cali for a statement of th
condition of all national banks and o
all banks in the District at the clos'
of business, March 4. Responses viii
furnish opportunity for comparison
with the exact date one year ago, E
'call'' having been made at that time
4 new and important order has beer
promulgated by the controller thai
will make for large decrease in the
aggregate deposits of the banks of the
country.
Hereafter. beginning with the replies
to the present Call" 1t will be obliga
tory on the part of cashiers to make
oath as to the amount of net deposits.
Heretofore. so-called complimentary
deposits between banks have beer
counted by both institutions and also
deposits for the account of collections
in transit. a New England banker
counting as deposits checks sent from
Washington banker for collection
and the latter likewise accreditins
checks sent to him for collection or
Virginia points as deposit account.
Local bankers are Of the opinion that
the new ruling in the matter of COM
plimentary deposits. sometimes re-
ferred to as padding deposits is en-
inently proper and should have been
made long ago, while they hold that
some little injustice. is. perhaps. likely
20 result from that part of the order
which covers checks in process of col
lection.
decreased deposits as compared with
December 81. 1914. the date of the last
previous call, and a material increase
as compared with March 4, 1914.
National banks. with the exception OF
four institutions. have repaid their en-
tire quota of District tax money to the
government. and the four that have
been given further time to make re-
payment have returned so per cent of
their holdings. Then, too, the govern
ment has withdrawn other funds from
depository banks; Panama cash and
Red Cross funds have been taken out
Tor use. The total tax money deposited
with the banks was $4.0Oo,000.
Trust companies and savings banks
may show some increase in deposits,
but the aggregate deposits will proba
bly, be less than on December 81. 1914
An interesting comparison will be
made when the aggregate reports of
all banks has been tabulated in the
matter of overdrafts. The order of the
controller of the currency in this mat
ter was promulgated after the previous
call Unauestionably the report will
show a large reduction in the aggre-
gate overdrafts, but not a general
elimination.
Capitol Refining Company.
The annual meeting of the Capitol
Refining Company was held Saturday
March s, at South Washington. Va.
where the plant of the corporation is
located.
Officers were elected. as follows: ]
g. Dold, president; f. K. McFall and
!. G.. Cownie. vice presidents; j. ]. Dol.
phin. secretary; ]. p. Dold, treasurer
]. L. Carson, assistant treasurer, and
Leo z. Harlow, assistant secretary. The
above officials were also elected direc-
tors of the corporation.
The business Of the company in 1914
is said to have been very satisfactory.
Washington Securities.
ON the Washington Stock Exchange
Hallway preferred was the main fea-
ture OF the afternoon session. all of
this issue offered finding ready sale at
s4i=- The only other feature was the
advance of Graphophone common stock
10 81. A few shares of Washington Gae
sold at 72A, and a small bond of the
Washington Railway and Electric Com
pany at IL.
Treasury Statistics.
Treasury disbursements for March )
exceeded the receipts by s362, ,23s, in
creasing the excess disbursements over
receipts for the fiscal year to that date
to s101,175.s44, as compared with ex-
cess disbursements for the previous
fiscal year to the same date of $780,
5SS,711.
Financial Notes.
But s26,oo0,0oo emergency currency
remains outstanding.
Charles NJ. Schwab, president of the
Bethlehem Steel Company, declares
that prices for steel products are at the
bottom and will not go lower. He is
also of the opinion that the outlook is
brighter than it was with the advent OF
1918.
March lA the governors of the
regional banks will meet in this city
70 complete regulations for the clear
ance of checks for member banks
There was decrease of $533,o00 in
the net operating income of the Nor
folk and Western Railroad Company
for the first seven months Of the pres
ent fiscal year.
Foreign governments war loans have
now passed the $4,000. 600, 900 mark. the
actual total of loans being S6T240oo.-
600
Bank clearings for the week ending
March s. one day estimated, total 81
S1s.837,239 for New York city; 1921.
11o,245 for Chicago, sI4s,o37,ss6 for
Philadelphia, s132,9sS, ,929 for Boston
Baltimore and s2l.562,223 for New Or
leans