Evening star. [volume] (Washington, D.C.) 1854-1972, 1918-05-14
LOCAL BANK DEPOSITS
SHOW LARGE CHANGES
BY 7. A. FLEMING.


The controller of the currency has
called for a statement of the local imam
cial Institutions and Of all national
banks as at the close of business May
TO-
Banks of the District show many sat
isfactory gains, but a group of national
banks that have been favored Win
very heavy shipping board deposits have
lost severely through the withdrawal OF
funds to the credit of the board. anu
all banks have lost much of their de,
posits, even those which show gooo
gains on account of taxes paid
The Commercial National. i'm the IN
term between the two latest calls. dis
posed of its two branch banks at Fan
ANA and CriStobal, and with the FUR
Their loss of shipping funds sustained
total loss in deposits of 81 .369.3s2. This
loss more than offsets the gain of many
institutions, nine reporting this morn
ing showing s3.os4,330 gain.
The Federal National lost $1.346.soo
and the Metropolitan National $2,O36,-
2S6, both being largely attributed to
loss of government funds. The Riggs
National led the list with gains. show
ing s1.773,000 gain, this bank not hav-
ing received any government or ship
ping board funds on deposit.
The Home Savings Bank will prob
gain of s4sS.265.
Trust companies reported generally
showed gains. but the American Security
and Trust Company showed loss. UNI
questionably due to tax money with
drawals.
The following are 1.-THE deposits of
the banks named at the close of bust
ness May 10. and loss or gain in COM
srIson With the report of Ms5ss
loss S53O,5.6. Columbia, Sc,S69. Pol !;
gain. s2a6,67G Commercial National.
S11,O5s.6ss: loss, s435a.3s2. District,
ss:sao:ssa: loss Ste ; .o"' , dupont g.
O31.10O: loss, S1.34690O. Metropolitan.
S9,172.151: loss, s2.036.2S6. Lincoln Ma
tional. 1881 .913: gain, s:13,6i'. Riggs
National. s19.5oo.ooo: gain. $1..I3,o 900;
$11.ss1,17s: loss. s594.s42. Continental
Trust. s3.359.945: gain. S61,51S. Ma
tional Savings and Trust, $s.132.46S !:
Trust. 50. 64s.27o: gain; ssas.5ee. Home
Savings Bank, ,2ss.269: gain. Sass
267 Liberty Savings Bank, $191.S07;
gain, 500, 732. Merchants Bank, $780,
123; gain, $1S2.1S2
the Merchants Bank from 100000 to
100000 has been consummated. Pay
ment of the S3Oo.OO1. additional stock
Preparations for remodeling the
banks new quarters are being made.
File Strenuous Protest.
The New York Clearing House Assoc
citation. comprised of the largest banks
In that city has filed a strenuous pro-
test with the Senate against the pas
sage of the measure IS. 1850 calling for
government guarantee of deposits of more
than 5000 in national banks.
The protests declare that such
measure would be putting a premium
on incompetence, and that the guar
antee would be made good at the ex-
penSe of the conservative bankers OF
the nation. Moreover. there is no call
Tor a measure of this character, ac-
cording to the New York bankers. 1t
is one of the measures introduced by
Senator Owens at the request of the
controller of the currency.
Bond sales at today's session Of the
local stock exchange was confined to
Washington Gas 5s at SO.
Capital Traction shares sold at S5h;
Railway common at so, American Sc
curity and Trust Company stock at 225
and Mergenthaler at ITO, with one ten
share lot at 110h.
Tax Money Problem.
Up to 2:15 o'clock this afternoon, W.
T. Galliher. president of the American
ter Of obtaining redeposit of tax money
from the Treasury Department, had
not been Informed regarding the final
disposition of the problem.
The matter has been taken up by
Treasury officials. Secretary McAdoo
has not acted on the proposition, al
though the bankers are still hopeful
of getting the 100000, the usual re-
deposit.