Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-08-20
NATIONAL BANKS
GAIN IN DEPOSITS
Total as of June 80, Was
$19,924,8 65-Big In
crease Shown.
| MERGENTHALER NEWS
MERGENTHALER
By I. A. FLEMING.

At the close of business June 30.
1919. the national banks of the coun
try held demand deposits to the
amount of $s,s0e.1e2.0oo and certified
checks, cashiers checks, etc, amount
ing to s4s2. 900. while the time de-
posits totaled $2.7S4.94o.ooo and gov
eminent funds were held to the.
amount of $56s.7s3,ooo, with due
from other banks and trust COM
panies' of 81. 8ss. 900. a grand total
Of deposits OF $15.s24.Se5, Indicating
an increase of $21 ,069.000 over the
May IL, 1919, showing and $f.szs. 1885,
600 greater than at the close OF bust
ness June 20 1913. $780,.
This wonderful increase in deposits
Of national banks. repeated IN almost
trust companies. Is but another indi-
cation Of the vast prosperity OF this
country, despite the era of industrial
unrest and public utility depreciation.
The loans and discounts OF national
banks at ne Close az hnw;n June
$3.50, O17.00o increase.
National banks were carrying U.s.
|171.912,000 of the various issues OF
liberty bonds and victory notes. and
s1.o55.1 Treasury certificates.
thus helping materially to finance the
government.
Total resources of national banks
June 80, 1919, were $20,7s9.550.000. an
increase of $685.. 100000 in less than
fifty days.
Exchange Very weak.
Foreign exchange continues very
weak. England will not borrow and
quotation in New York this morning
when it sold to $4.14. Francs decline
to sh francs to the dollar and lire to
81 to the dollar
Reports are that the French gov
eminent, urged by the weakness In
francs. is negotiating. with the aid
slot. 900, 900 to $500. ooo. geo in the
United States. With a view of sta
bilizing franc exchange.
William B. Hibbs of w. b. Hfbbs &
Co. left today with Mrs. Hibbs for a
two-week vacation, going direct to
Bar Harbor. Me.
While MS friends admit that he
spends much time at his Leesbure
! farmhouse. Mr.. Hibbs himself declares
that this is the first long vacation he
| has taken in midsummer for twenty
| Ave years. He also admits that he
may return before the expiration of
! the designated period. In the mean
time, as usual, w. w. Spaid will be
in control of the business and once.
Elect E. J. McQuade Director.
Edward 8. McQuade. president Of
the local Mergenthaler Stockholders
| Association and treasurer Of the LIB
erty Savings Bank. was yesterday
AFTERNOONS elected a director of the
Mereenthaler Corporation. succeeding
the late ID. ". Murphy. The family of
the late director urged upon the Mer-
| gentfaler Corporation the adtisability
| Of electihg Mr.. McQuade as Mr.. Muir
phys successor and the local organi-
1 zation gave its Endorsement to hts
candidacy.
Mergenthaler Dividend.
| Directors of the Mergenthaler Cor
dividend Of ~ per cent. payable sep
TENDER 80. to shareholders of RECORD
of September 3.
Local Stock Market.
| washington Railway and Electric
| shares were a little better today. The
/ preferred stock sold to so and was
held at SOY at the close, with - the
1 Official bid. The common stock was
| nominal, but the bid was advanced
| to 20.
! Capital Traction sold at s5h. but
| held firmly. A number OF sales OF
Washington Railway and Electric
Gfaphophone Company to Move.
Because of labor conditions in
| Bridgeport. 1t is stated that the Co:
| lumbia Graphophone Company, VIII
| remove its Bridgeport plant. which
gives work to 5000 employees else
hTe proposition largely to increase
the shares of common stock. OUT
standing, without pa v1lue. has been