Evening star., 1921-11-07
NEW POTOMAC IS
!. MAKE NEW HIGH
Sales at 102-0ther Local
Bonds Firmer-MutuaI
= Savings Prosper.
By I. A. FLEMING.

An advance OF v OF q point IN the
sale price Of the recent issue OF Poto-
mao Electric refunding and improve
ment Is was tho principal feature OF
the days business on the local stock
exchange. This brought the price for
the bonds to 102. as compared with
ssh~ the issue price at which the
bonds were distributed by the pur-
chasing syndicate.
Other public utility bonds were
hrmer. Railway Is sold at 61t. the
general ss Of the Same company
brought s4N and Washington Gas IS
were strong at SO.
Washington Gas shares were firm
at 4s1s and 4sX. Capital Traction
brought ss1k.
Continental Trust shares were
steady at 100.
The typesetters were neglected.
with Mergenthaler stronger at 1874
bid.
Bankers' Association Committees.
The officers and the special commit
tees Of the American Bankers Asso-
citation will hold a three-day session
here, beginning December IL next.
VIII Go ON Dividend Basis.
With January 1 the Liberty, Ma
tional Bank. will go on dividend
on a per cent basis. This institu-
tton recently celebrated its fourth
birthday. having evoluted through the
savings bank stage into the national
fold
Reduce Interreserve Borrowing.
There has been a very large reduc-
tion in the borrowing between fed
eral reserve regional banks, as shown
by the latest statement. Richmond
has paid off sufficient loans to bring
it's borrowing down to S4,200.000. as
against $15.000.000 a week ago; Min
nrsapolis has has, liauidated SUFFICIENT
3e6.0o0 to $4,000: Dallas wiped out
$1.2O0,000, but both Dallas and At
lanta are still heavy borrowers, rep
resenting unliquidated southern cred
its.
Cleveland Federal Reserve Bank is
the largest lender, s141,232.0o Of its
money carrying credits outside Of its
district Boston has $4,000. 900 out
standing and Philadelphia $32,550, 900.
Mutual Savings Banks Increase.
Mutual savings banks in common
with savings institutions generally
have been prosperous during the last
few years.
D. r. Crissinger, controller Of the
currency. commenting on this fact,
has this to say:
notwithstanding tho unfavorable
conditions existing throughout the
country, these savings institutions
gained both in number Of depositors
-of the s.s reporting banks" he
continued. "all except twenty-six are
located in the New England and east
ern states. and the deposits in the
banks Of these two geographical di.
Of the total in all banks Of that class.
Tho deposits in these institutions
upon the date in question amounted
to $s.675,1s1. 900 credited to s,61s. csc
depositors. showing an average de-
In juno. 1920. deposits in these in
stitutions totaled s5.1s6,s45.0oo; the
number Of depositors 9,445,327, and
tho average deposit. $549.14.
TN the New England states the de-
creased ses.ooo. 900. Of which $4,000, 900
were in tho banks Of Massachusetts, !:
and the balance Of tho increase is shown
in tho remaining states. ranging from
about $1.4oo,00o IN New Hampshire to
nearly $5.ooo,0o0 in Rhode Island. The
graphical division was s500.01.
- Deposits In the savings banks in the
eastern states increased from $685.
000, 900 to $3,2s4, 900, 900, showing net
increase Of $25s.0o0.0oo approximately.
This increase was mainly In the banks
Of the state Of New York. wherein the
Increase was $250,0o0,0o0: With the
exception of New Jersey banks, which
lost approximately $4,000, 900. there
was an increase in deposits in the saw
ing banks Of each state in this geo.
graphical division.
There is but a limited number Of
mutual savings banks In other states.
one In West Virginia and one in Cali
fornia; three in Ohio, i've in Indiana,
seven In Wisconsin. and nine in Minne-
sofa. It appears that there was a gen.
eral increase in deposits Of savings
banks in tho states named, with the ex-
ception Of decrease of about 100000
in the banks in Ohio. and less than
$4,000 in the banks Of Wisconsin"