Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-06-25
BANK DEPOSITS SHOW
MANY LARGE CHANGES
BY I. A. FLEMING.

Bankers this morning received the
expected call from the controller or the
currency asking for 4 statement OF
condition at the close OF business
June 20. Comparisons will be made
with the previous call. May 1 Oh TINS
year.
In the interim between the two latest
calls much has happened to disturb de-
posits-shifting from bank 10 pans 70
the tax collector. and back again 70
banks: the preliminary payments on ac,
count of the SiS.o00,aGp liberty loan anu
The Red Cross canvass have also caused
changes.
Some of the banks show excellent
gains, due to the fact that they nav <
received their full share of the District
tax distribution. the tota! paid in 10 me
banks between the dates May ana
June 20 being St,GOO.0oo.
Then. again. the manner OF payuea.
on liberty bond subscriptions bas not
been uniform. Some banks have mace
but the : per cent payments Obligatory
on June -. so that on very many SOY
and S1G0 orders. and some Tor hiutt,
larger amounts. they have received
much more than they have paid out
other institutions have made fun pay
ments on moderate subscriptions anu
have delayed on larger SUBSCRIPTIONS
until the .Sth inst, when Is per cent
payment is due.
inquiry at the banks disclosed esu-
mates of the amount of cash suoscrip
tons paid in al the time of the saie az
about % to - per cent. some OF which
still remains in banks.
On S10n bonds a bank had only TO
pay in So June 10. while in All cases
$40 was paid down. save IN the CLUBS
where $3.50 was contracted for month
". so that the cash payments on these
latter subscriptions would be but Stu
and many banks have received more
than they paid out for their depositors
Some Institutions paid all $50 and sloD
in, fIlt
TO paying the deferred interest between
June Il and June % at ~ per cent.
So badly mixed has been the prevail
ing condition that the direc, renec'ioh
on deposits cannot be estimated.
The trust companies generally lost,
the national banks generally gained,
the trust companies received no taX
money, hence their losses. But they VIII
not be called upon to commence repay
ment and future statements Will not De
affected thereby.
The American Security and Trust
Company and the Riggs National Bank.
the two institutions that contributed
through customers and their own sub
scriptions to the liberty loan over
s5.e60.o 900 to the liberty loan, show the
most severe losses
The Riggs National did not receive
any of the 100000 tax money. and
It's deposits sustained loss between
May 1 and June 20 of nearly $3.50. 64S
The American Security and Trust
Company lost s1,9S3.000 The National
Savings and Trust Company lost $685.
900 and the Union Trust Company
$S03.455.
The Metropolitan National Bank
gained $61S,440. the Federal National
s4s0,149, the Commercial National s226,-
80, the American National $30S,261 and
the District National deposits increased
$619.715.
The Home Savings Bank. the only one
reporting, showed a loss of S6l,966,
which may be clearly accredited to saw
ings withdrawn for liberty bonds, Ell
ther in full or partial payments.
The call, coming. as 1t did, on a Mon
day morning, found the banks espe-
cially busy. and many institutions had
not compiled their reports, hence the
few quoted.