Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-07-16
NATIONAL BANKS
HAVE BIG ASSETS
Deposits Over twenty-five
BiIIions-Great Prosper
ity of Nation.

The banking resources OF the ohi'eo
States as shown by the compilation
of the returns of all national banks
in response to the call OF the con-
troller of the currency for state
ment as of May 4. 1920, Indicate the
great distribution of wealth and the
wonderful prosperity of the Amerl-
can people.
Nav there were deposit accounts
In the national banks numbering the
unprecedented total of 20.3SO.350. or
an average of one deposit account for
every five and one-half of our popu- :
iation The state banks and trust
companies have millions of deposit
accounts. also. SO that the enViaoie
record shown by the national banks
must be materially increased to do
Justice to the well-to-do-ness of the
American people.
Pennsylvania, the greatest industrial
state IN the Union. led all other states
with s2.589.697 deposit accounts to the
credit of her people: New York. llli-
nois and Ohio. the Big Four, follow
in order. these four being the leaders
in industrial effort through the field
of production.
Individual deposits in the banks May
were s22.o3S. 1000 being the high
est point ever reached save IN Decem- =
Der. 1919 The gain of wealth in
year as indicated by wealth in ma
=.
and May IL, 1919, was $1,70l ,l2S. 600.
Total deposits May 4, individual bank
and United States deposits. were S16.-
s24.543.000. The ratio of loans and dis
counts to deposits was 12-o1 May 4. as
compared to 62.2s per cent May II,
1919 Conservatism was being put in
force May 4.
Response to Conservatism Urged.
During the period between Febru-
airy IS and May 4. 1920. there was a
reduction IN the bank holdings of
government securities of $S3.623.000.
a liberal response to the urge of the
reserve board; between May IL, 1919.
and May 4. 1920, there was a reduc-
ton in bank holdings of these Secu-
rites OF s1.656. $4,000. and of this
amount s7o4, 100000 were old bonds
held to secure circulation.
Bonds and securities held by the
banks other than governments were
valued at s1.s35.ooo.oo0. a reduction
in one year of $4,000. Capital.
surplus and undivided profits of ma
tional banks totaled, May 4. $2,613.-
068, 900.
Personal Mention.
John A. Nevius is visiting A NJ.
Nevius of the Riggs National Bank
Local Securities.
Capital Traction stock sold rather
freely on today's session of the local
only price.
A few shares of Lanston sold at ~
and an odd lot at IL =.
Railway preferred was steady at
41ss. with the demand gradually alb
sorbing the supply.
Bonds were entirely nominal
Bankers Associations Meeting.
This afternoon at 4 O'Clock the Dis
trict Bankers Association will meet
at the New Willard. in the Gridiron
room. for the purpose of discussing
and, if possible, agreeing upon a plan
of action in the matter of the pro-
posed District tax on the income from
government securities held by the
banks
The late Mr. Darlington. acting
as counsel for the association, recon-
mended the payment of the tax on the
interest from government IS under
protest The office of counsel of the
association is now vacant and may be
filed today
OmciAls Chosen.
At meeting of the directors of the
Continental Trust Company held yes
terday afternoon, Eppa L. Norris. who
has been with the corporation for
seven years, was chosen it's treas
urer.
Directors of the Exchange Bank of
Washington yesterday elected Ernest
Gerstenberg assistant cashier of the
bank, to succeed Samuel L. Stead,
whose resignation is effective August
/. Mr.. Stead resigned to accept a po-
eition with the state banking COM
mission of Michigan