The Washington herald., 1921-07-06
CRlSSINGER ASKS
LOCAL BANKS FOR
CONDITION REPORT
Controller Seeks Data as
Close of Business
June %.
-sB
OUTCOME IN DOUBT
AZ
Bankers Unable to Predict
Result Until Final Fig
ures Are in.
OUTCOME IN DOUBT

Controller of the Currency d. F.
Crissinger yesterday served on ma
tional banks and all banks in the
District of Columbia notice to make
q report of their condition as Of the
close of business Thursday, June 80.
Local bankers are somewhat re-
ticent in predictinsI whether hnai
returns will net Toss or gain In
deposits over previous figures which
included the period ending April 2s.
Since that time, deposits have SUI
fered greatly due to the payment Of
resl. personal and intangible taxes
ancf--the second annual installment
of Income and excess profit taxes.
anasnnusually heavy subscriptions
to the May and June issues Of Treas
urS.certificates-
Trust companies. from informa-
tion obtained yesterday, Will un-
doubtedly make the worst showing
of the three classes of institutions
inathe District. the National Saw
ings and Trust Company. American
Sseurity and Trust Company and
washington Loan and Trust showing
losses of approximately s5Q0,O0o,
$4,000 and 100000. respectively.
The National Bank of Washing
torn shows a commendable gain over
lasf"caIl, having total deposits on
June 80 of S7.25o,350.47. Franklin
National netted a gain of about
100000 with deposits of s3,23O,-
7se.f2; Farmers and Mechanics Ma
tional. Of Georgetown. a gain OF
over $4,000 with total deposits OF
SsI57,266.77, while the Potomac Saw
ings also shows a gain with w.
5Tas7S.29 in total deposits
The Merchants Bank reports total
deposits of S2,20s.04s.67. which rep
resents a gain over the previous call
of S26o.774.34. Security Savings and
Commercial Bank also reports a gain
OF -s76,o72.Io.
Mellon Calls for Funds.
Secretary OF the Treasury Mellon
Yesterday called on all national
banks having funds arising from the
last sale Of Treasury certificates and
short-term notes to pay into their
regional members per cent Of such
funds. which call will total approx
matafy ss2.OOO.Ooo.
Local Securities.
Trading in Washington issues was
decidedly dull on the local exchange
yesterday. Sales totaling $4,000
Washington Gas 5s were made. this
security opening at 76b and clos
ing at II. A small block of the
stock of this company was sold at
43I, while two shares of Railway
preferrel was disposed of at 81.
Call funds continued to rule at
per cent bid with per cent asked.
Personals.
Robert v. Fleming, vice president
and, cashier of Riggs National Bank.
returned to the institution yesterday
afternoon after spending the holi-
days at Cape May, n. II. Vice Presi-
dent Joshua Evans, jr-. is due to
arrive this morning.
Peter A. Drury. president of the
Merchants Bank, has returned to
Washington after an inspection of
his summer home in Loudon County,
Virginia, which newly acquired prop
ertyuwas purchased for $4,000.
Harry V. Haynes. president of the
Farmers and Mechanics Bank, of
Georgetown, is spending a vacation
with his family at Ventnor. n. ].
Market Opinion.
In their bi-weekly market sum-
mary, W. ]. wollman & Co, has the
following to say: Developments in
the last two weeks have been such
as to warrant a more hopeful view
of the security outlook. In the first
place, the market position has been
greatly strengthened by the extern
sive liquidation and the low level
of prices Our banking position has
shown great Improvement through
the reduction in commodity loans
and the lessened demand for capital
through the slowing down in busi-
ness With the exception of some
OF the proposed legislation which is
not likely to meet the appreciation
OF general sentiment in the country
the administration at Washington
has shown a helpful, practical and
progressive attitude. The formula
ton of the budget program in par
ticuizr has given rise to hopes OF