Evening star., 1921-09-13
bank DEPOSITS ARE
0vER$168,Q1D,QlD
Gain Between Calls, S1,145,-
H1-Heavy With
draWalS.
BY i. A. FLEMING.

III i. n. FLkMlNS.
Those who predicted very serious
loss in the deposits of local banks after
the last previous call of the controller
of the currency for a statement of
condition. basing their opinion on thet
decreased number of employees of the
government. that natural loss of in
crement during vacation time and the
heavy expenditures of the season, were
entirely wrong.
Bankers have expressed surprise
time and again that deposits have kept
up as well as they have.
The call of June 30 found the bank :
OF Washington with sl66.9g4.633 total
deposits. Between the two latest calls
Treasury certificates TO the amount of
sSza ,ooo,ooo were sold, on an Offering
of $300,000,000. We have passed
through July and August, vacation
months, and the banks of Washington
at the close of business September g.
had total depo@its of sl6S.1i0,354, a
net gain of $l,l45.741.
Three new banks-Internatonal Ex-
change, Departmental and Union
Laborers' Savinss-will he included il
the next comparison, but are omitted
in this.
The savings banks showed the
largest gain, $6s2.46l50, most of the
AiStitullois gains. W n4cu
may be taken as an evidence of thrift
and, furthermore, would seem 10 be
something of an argument in favor
of the theory that the thrift brigad.,
is employed.
The trust companies came through
the two months with a gain in de-
posits of 1894 .314. while the national
banks showed an increase of but
$6S,S96.
The reason for the relatively pool
the loss of the Riggs National. ST.
492,S21, which may be charged en-
tirely to the heavy purchases of Au-
gust 1st certificates issued by the
Treasury.
The bank has probably lost since
the call. as it purchased over s3.250.-
900 of the September - issue of GOV
ernment securities, largely for Gus
toners.
September Is Securities Sold
Secretary Mellon announces that the
combined issue of Treasury certifi-
Gates and three-year notes has been
oversubscribed.
No announcement has been made as
to allotment. but the first orders
placed were cared for and orders are
still coming in. Many banks have
been unable to secur.. d sufficient al
lotment for their customers and are
endeavoring to borrow from their
more fortunate friends.
That they are not succeeding Very
well is evidenced from the fact that
they are in the open market for the
certificates when issued.
and but little chance of any per-
manent advance in rates. these 81
per cent notes. with assurance OF
! market at all tires for cash and
a par borrowing value also al All
| times. furnish 2. desirable investment
70 Inv l. he lraa Ii .Fs.1z ffa
sell at a premium.
Calls for s1.9.oO0.Oeo.
| Secretary Mellon this morning
| called upon the national banks hold
! ing credits arising from the sale OF
August Treasury certificates to pay
! into their respective federal reserve
banks by Tuesday of next week
S129.00O.000. being 75 per cent az
| the balance held to the credit of the
! Treasury. Banks cannot complain,
| as they have had the use of these
millions since August l.
4 After Tuesday the banks will hold
| s43. 100000, proceeds of the August
| sale, at the rate which they pay on
government deposits. > per cent sub
ject to the call of the Secretary of
the Treasury.
On the Bankers Building.
John b. Larner, president of the
District Bankers Association. has ad-
dressed a letter to the president of
each of the banks in the city and TO
others who may be interested in the
proposed building to house the as
ISOLATION. and the various financial
and security organizations, as sug-
tgested by Mr.. Larner on his induc-
tion to office at the last annual con-
tvention of the bankers association.
| The text of the letter follows:
You have undoubtedly given some
v,cg1 1av fNrn 90 lA fsNV1 Of TD.a
proposed building for the Bankers
Association of the District of Colum-
bia, and are prepared at this time 10
express your opinion of its usefulness
and desirability.
For the enlightenment of the COM
, mittee and others, | am asking the
opinion on this question of the presi
dent of each of our banks. i am much
pleased at the expressions of opinionS
that have already been given me, and
ask for Mr.. Reeside, the chairman
of the committee. your hearty CO.
! operation.
"a reply will be very greatly appre-
ciated.
JOHN B. LARNER.
President of the District of Colum-
bia Bankers Association"
George W. White. president of the
National Metropolitan Bank. was the
first to make reply to Mr.. Larner's
letter Of inquiry, giving his enthusi-
astic approval to the idea of build
ing, properly designed. for the ac
commodation of the association and
its members.
Local Securities.
An unusual series of sales was
made on today's session of the local
stock exchange in the transfer of 100
shares of National Bank of Washing
ton stock. all at $50 a share.
The general market was quiet hut
steady, with sales of Capital Trac-
ton 5s at s7%. Capital Traction stock
at 81 to S6%, Mergenthaler at 1lsA
and Lanston at 72.
Personal Mention.
1t is definitely settled that Wash
ington's delegation to the American
Bankers Association convention in
Los Angeles in October will consist
of Mr.. and Mrs. George w. White. Mr..
and Mrs. B. F. Saul, Mr.. and Mrs
Joshua P. Evans and Tom Grant. who
is already in the west.
Mr.. and Mrs. White will leave to-
morrow afternoon.
S7,5OO,OO0 SECURITIES