Evening star. [volume] (Washington, D.C.) 1854-1972, 1916-03-14
BANK DEPOSIT GAINS
MAY Be S4,5OO,0OO
National Institutions Alone Increase
Their Totals Between December
81 and March Z. So, 163, $3.50.
Some Later Returns-Better Demand
for Bonds-Higher Prices on
Favorite Issues.
BY I. A. FLEMING.

Banks of the District gained, IN the
interim between December 81. 1919 ana
March I, 1916, dates of the two latest
calls of the controller CT the currency
over $500, 600. with the chances Oh 'he
increase being nearer $4,5Oo.ooo
National banks in the aggregate have
gained in the same period S3,l63,9to.
unprecedented in the records OF the
CITY. The savings banks have gener-
ally increased their deposits, whlie
four of the six trust companies MADE
good gains and only one sustained
loss
Heads of many financial institutions
Were asked this morning for an expia-
nation of this remarkable increase IN
deposits Many We're unable TO give
any theory. Others credited the
growth of the heavy January diSburse-
ments on account of dividend and IN
terest payments on stocks and bonds
and to the heavy payments of interest,"
TO depositors III savings banks trus.
companies and savings departments OF
national banks
Some part OF the increase must be
accredited TO country banks which, I'M
able to use their funds to advantage
at home. have increased their balances
with local bankers for the per cent
interest which is allowed.
The president of one national bank
accredited the increase at least par
bull market and the failure of the de,
velopment of the January rise on W an
street mad caused many traders IN the
New York list to liquidate and their
money had found ITS way pack iito
the banks.
Another president gave credit to
members of Congress and other we'll
TODD people returning TO Washington
after the holidays.
Still third declared that outside
corporations doing business in Wash
ington were carrying larger balances
here for the reason that interest rates
here are very stable. not varying as
they do in the larger cities. and that
these CORPORATIONS were very generally
demanding interest on deposits.
Whatever the cause, the fact remains
that large gains have been made and
that Washington bankers showed
larger deposits at the close OF bust
ness March I. 1916. than at the date
of any previous call.
More than this. between the dates
specified the national banks have re-
turned to the government about s62o 900
tax funds, the two installments OF 10
per cent each in January and Febru-
airy completing the payment of the
900 tax money.
typographical error in this column
yesterday gave the Riggs National
Bank credit for an increase of $4,000,
the actual gain being SS2T ,651.66.
The Du Pont National Bank the
baby of the bunch. shows deposits of
SISc.UbU ne Lincoln .NdliOildi DAMN
gained in the interval between the two
latest calls Sl67.1s2: the Commercial
National, s553,13S; the American Ma
tional, siss.41s: the Columbia National.
s1J5.34l: the Washington Loan and
Trust Company, S401 ,016; the Munsey
Trust Company, little less than $780,
900 and the Home Savings Bank. SILL
900
Securities More Active.
There was a decided improy ement in
the demand for local securities. espe-
cially for bonds. and higher prices pre-
vailed. In all probability bankers COM
peted with investors in the purchases.
seeking to find partial employment for
their heavy line of idle money.
Potomac Consolidated IS were in ex-
cellent demand and moved up Il point
to 100. while Capital Traction SIS sold
to the amount of s10.500. face value. a
1914, a new high for this movement
on this issue.
Typesetters We're firm at 1861 for
Mergenthaler and "a to 70i2 for Lam
ston. the close on the latter being 20
bid and 707s asked.
small lot of Capital Traction. ex-
dividend. sold at s5a.. stock being Of
fered at 81.
Railway and Electric common. nomi-
nal at SAX bid and SSh asked while
the preferred was offered at 50 and 81
bid.
Commercial National gank sold at
1874
II was the best market in bonds for
many days. with indications Of AN i'm
provement in the near future in stocks
also.
Dividends Declared.
The Capital Traction Company viii
pay the usual IA per cent quarterly
dividend to shareholders of record