Evening star., 1922-03-17
BANKS. NOW HOLD
LARGEST DEPOSITS
s18t,796,e36 the Record,
Compared With $170,836,-
12O Previous Top.
BY I. A. FLEMING.

1SSCOIU OepCSllS III thG ~
Washington are shown by the COM
pilation from reports made by the
various institutions in response to
the call of the controller of the cur
. rencyfti for a statement of condition
as of March 10.
At that time local fiscal institutions
held sls1.7sS,s36. as compared with
s17O,SSs.l20.61 at the close OF business
February %. 1891.
fore. A study Of the table published
elsewhere will show that. with very
few exceptions. the various institu
tions made gains. The Commerclai
National lost relatively shani
amount, incident to the changes III
officials as of January 10.
Tho Washington Mechanics Savings
Bank showed a loss, rather than tne
usual steady gain, readily chargeaoie
to the "furlough" of SO many mechah-
tcS from the navy yard.
The new banks showed some prog
ress toward better days. the LID
erty National, now a yeariing. rapid
~ approaching the two-m1ilion"doliar
mark. The Banking Trust and Mort
gage Company, after many changes
in personnel, dictated by wisdom and
good advice, makes a creditable snow
ing.
The battle for the blue banner OF
leadership between the near neigh
bors. the RIGGS Natlonai & anu & .ne
American Security and Trust Com
pany, continues unabated.
The former still holds the lead, with
the latter a good second. both max
ing big gains during the latest CONF
parative period.
counting for. increased deposits.
January. February. and March dis
bursements figure in the accruals.
There has been an enormous amount
of cash invested In this city during
the last two months The stock and
bond markets have attracted inves-
tors and the public is once more In
the stock market. which might be
taken to presage some reaction in the
near future. although sentiment is
very favorable at this time.
Real estate has just experienced
material betterment, especially when
cash is available.
One thing is definitely established
by the record deposits. general bust
ness is not good.
While the public utilities seem to be
coming. into their own. more aud
more under earnings, reduced costs
and high court decisions. general
A slight decrease in the ratio of
reserves of the federal reserve
banks shows a little more borrow.
ing, but the reserve system Is sun
slutted under 1856 reserve.
If general business was active the
large deposits would be working
for the owners interests in trade and
money would not be loaninE on Wall
street at 3 per cent on call and
Treasury certificates be so largely
oversubscribed.
Banks Declare Extra Dividend.
Shareholders in the old reliable
Farmers and Mechanics National
Bank will welcome the announcement
that the directors have declared an
extra dividend Of per cent, payable
April I to shareholders OIL recoro
Directors of the Security Savings
and Commercial Bank declared the
regular quarterly per cent DIVIDEND
in succession declared an extra
distribution of 1 per cent.
Both are payable March 81 to
shareholders Of record March 70.
Banking Trust and Mortgage Go.
Important changes are announced
in the personnel of the official roster
of the Banking. Trust and Mortgage
Company.
George B. Fraser. who has been
with the company since its orsanlza-
tion as vice president and chairman
of the board. retired. and the direc,
tors elected Frank H. Edmonds, locai
business man. well known and with an
excellent record, and c. +. Burton OF
the Guaranty Finance Company OF Bos'
ton as vice presidents. ana II: Raiph
Burton and Bruno Bagnoli as directo.s:
James William Bryan, chairman or
the advisory council announces the
addition of the following to the coun-
eli: Messrs. c. w. Easterday, Filippo
Baldi, ]. NJ Drysdale, w. H. Orlngs,
p NJ. Reifkin. cloyd Tavenner, J. II.
WIZ: ai.tpe,ts Ps; G. AND ND Fsaei Fssnk Geraci 1 '
Directors Of the bank gave dinner
to the advisory council on TUESDAY
night at the City Club, at Wnich time
the. council was advised .;n OF tne m
and all agreed to work for the con-
tinued growth of the bank. The
greatest harmony prevailed.
Local Securities.
Trading on the local stock exchange
today was little less active. the fail-
ing of Of business In IN tans.en I1,ssf cama ama
pany shares, leaders in activity yes
terday, being responsible therefor.
Lanston sold only to the extent of
two shares. which is not criterion OF
with the bid price 79 and the asking
Bonds attracted considerable atten-
ton and were decidedly firm. Gas 5s
brought 90 and the ~ per cent notes.
1861 Chesapeake ana fotoinac
Telephone 5s steady at 81.
Stock fractions were confined al
most entirely to banking shares.
Commercial National stock was the
most active selling at 1.35 and then
1.36.
Federal National sold at LII.
few shares of American Security and
Trust Company stock brought 2.S2h
and an odd share 2.34.
Successful Sale.
The, Guaranty Company Of New
York city announces the successful
sale of $4o,000.000 Dutch East Indies
sinking fund IS, guaranteed oy tne
KINGDOM of the Netherlands. DOCKS
,fSr subscriptions being closed yester-
saks 4 Co. Bonds.
Crane. Paris G. Co. are offering
part Of $3.500.000 per cent gold
honds. of Sake &. CO., secured by
closed mortgage on New York plant,
leasehoid, building and equipment.
The company has made no bank
OF its S8.363.36S assets arc in cash
and government securities.
/: Personal Mention.
". ". Spaid of W. B. Hibbs & Co.
is spending the week in New York.
He Will return Monday.
Doubles Its Capital.
The chesapeake and Potomac Tele-
phone. Company yesterday approved
An amendment to its charter for the
doublfnk Of its capital stock to $780,
eo6, ,eNS.s Action also was taken to re-
tire the $50 par value stock for shares
with q par value of 500 each.
The company will begin expending