Evening star., 1915-03-09
BANKS MAKE BIG GAINS
IN DEPOSIT ACCOUNTS
Trust Companies and Savings 1nsti-
tutions. in Their Increases, Re-
fleet the Season of Economies.
No Lie in Local Stock Market
Financial News-Railroad Earn
ings and Gossip.
BY I. A. FLEMING.


From advance statements OF deposits
by many of the trust companies and
national and savings banHs in the Dis
trict. following the call of the controller
issued yesterday, 1t is evident that the
aggregate deposits OF these institutions
has increased materially during the in
terim between the close of business De-
cernber 81. 1914, and March :. 1915, the
interim between the two latest calls The
most severe losses have been sustained
by the national banks, and is accounted
for almost wholly by the fact that re-
payments of tax money and other special
funds Of the government, the Red Cross,
etc. have been made to such an extent
as to more than offset the natural in
crease in deposits.
According to the officers of the Ma
tiona1 Savings and Trust Company
January, February and March are the
three greatest saving months in the
calendar. The Christmas and New Year
holidays mark the end of 'he gift sea-
son: the vacation period is a stimulus
in savings. and accounts to the credit
of savers are steadily increasing dur
Ing these months.
Nearly all of the savings banks have
made satisfactory Increases in de-
positS. the trust companies have had
big months during January and Feb
ruary. partially due to the fact that
money has not been as largely en-
ployed as usual. and the gains of these
institutions. with that of two or three
national banks, more than Offset the
losses sustained by national banks
generally.
In the national bank list, so far as
information is at hand. the RIGGS Ma
tional gained $435.471. having 10 gov
eminent funds n the Treas
ury. the Columbia gained s147.236: the
Farmers and Mechanics increased it's
deposits by s74.41!. and the Franklin
by s6s,357; the National Capital gained
S2I.452
Losses were sustained as follows: BY
the American National. s64.oo6: Com
mercfal; s6l5.Sl3: District: sss: s:41a: Fed
eral. $36.152: Lincoln. s74.5s3: Metro
politan. $so.172; Second. $39o7s. and
National Bank OF Washington. Sis. 49,.
The trust companies made good gains.
ty and Trust Company. s105.20S: Ma
tional Savings. s16s.e45; Washington
Loan and Trust. s21..s20 and the Union
Trust. $150.30
The Home Savings heads the savings
banks. with an increase in deposits of
Si61.935: Security and Commerce shows
S60.596 increase. the United States Saw
ings gained S34. while nearly all of
the list made more or less important
increases
1t is probable that the final returns
to the controller of the currency may
show some variations from these fig
made their returns 'old style" not
having classified their deposits with
reference to the changes required.
which were referred to in this column
at length yesterday afternoon.
Large Cash Resources.
Washington banks have large
amounts of idle cash in their vaults.
Some Of the institutions are holding
larger reserves than they were re-
quired to under the national banking
act. and practically so per cent larger
than required by the provisions of the
federal reserve law. The Riggs Ma
tional. for instance. Is carrying $685.
616 in cash and reserve. or about 30
per cent reserves.
1t is proba BILE that business condi-
tions are such that the full employ
nent of financial resources is not avail
able to the banks
In the matter of overdrafts, reports
indicate a general reduction in the
aggregate. as might be expected. as
a result of the recent order by the
controller of the currency.
Treasury Statistics.
Disbursements for March exceeded
the receipts by S10o.924, making the
excess disbursements over the receipts
for the fiscal year to that date s101,-
216,769, as compared with excess dis
bursements for the previous fiscal year
to the corresponding date of $780,
S56,l1s.
Financial Notes.
steel coropration is said to be work
ing to about 63 per cent capacity. the
entire Homestead mills being operated
Tor the first time in two years.
Liggett & Meyers Tobacco Company
has declared an extra dividend of per
cent on the common stock. payable
April ] to shareholders of record
March 10.
The Loose -Wiles Biscuit Company,
one of the big Industrial corporations,
has Just pa ssed the dividend on its sec
ond preferred stock. Heretofore diri-
dends have been maintained at Ia per
cent quarterly. Officials state that the
dividend was earned, but that bust
ness conditions do not justify it's pa.
3aent-
Wabash gross earnings 'or january
decreased s57.43l but the net increased
sl30,si2.
The Pennsylvania railroad system
earned $1,000. 600 a day IN 1914, and
PAID OUT xs5V,UUV a Gay In wages, q
matter of $4,000 less daily than la
1912. The average return last year to
the owners Of the capital stock of the
company wac az per cent
Operating income Of tn. Chicago
Milwaukee ano ST. Paul Railroad Com
Ia::y for the seven months OF tie
fiscal year ending with JANUARY, 1915
-.as s1s.23s2S9, a. compared with s15-
,sJ,5o6 for the same period III the pro
,iods fiscal ieAr.
The Great Northern Railroad Com
rany made an Increase Of sasiOl ii, 5rs
net income for IN. sevel months OF ,fte
fiscal year ending with January. while
Northern Pacific. the other Hill road
lost Si.s23.o 500 in operating income a.
compared with the results or the pre
Tious seven months in the 1914 fiscal
year.
Local Securities.
There was an entire absence Of acr,ci,..
in the standard issues OF stocks and bonds
on tcday's session. Of the Washington,
stock Exchange. Quotations show little
change Sales OF Graphophone common
were made at so. a. sharp advance. and of
the preferred stock Of the same companv
at SO. little Washington Gas sold q,
12Iz
There was a report on exchange ,h.,
the directors of the Graphophone Com
paiy mad declared Il dividend Of ia nor
cent On the common stock The ru.nor
could not be confirmed
CHICAGO LIVE STOCK.