Evening star., 1922-03-22
THRIFT PRACT|CED
BY D. c. RESIDENTS
Gain in Deposits Of Loca!
Banks Since May I, 1911 7,
$60,748,6O8.
BY 1. A. FLEMING,

The American Bankers Association
officials wish the cause of thrift kept
constantly to the fore as one of the
most useful and best aids to the fur
nishins of the great volume Of money
that will be needed when the return
or prosperitw, or at least normalcy, shall
again bring into activity the great
manufacturing resources of this country
In the forward march or growth in
thrift Washington has not been one OF
the followers, it has been a real leader
Washington wage earners and even
those with good incomes have been in
creasinS their deposit lines and ouI
bankers are ready to finance their share
of any increased business demand.
When bankers serve notice that they
are ready to make loans to other than
their own customers, on approved Sc
curity, they are seeking business.
In 1917 when the needs OF the govern
nent. donning its war armor. spread
broadcast the seeds of thrift, when
bankers forgetting self, accepted small
PAYMENTS weekly o: monthly on liberty
bonds, they educated the country, and
the lesson of economy and accumula-
ton has not been lost.
The showing of local banks on May
I. 1917 was as follows: National
banks. deposits, s56.116.612: today they
hold $9i,690,240, or rather did March
40. gain of $3S,573,62S.
Savings banks had on deposit May
j. 1917, S14,99O,124 and on March 10
S29.65O,S5S. a gain of $14,607,734, and
Ill all fairness the savings banks must
be given credit tor the holdings of the
Home Savings Bank at the time it
and it's branch business were taken
over by the American Security and
Trust Company, say $10,0OO,O00 which
would give the savings branch of
banking credit for a gain OF $24,607-
1874
Trust companies in the same COM
parison held s57,455,S4S March 10 of
500 May 1 1917, the gain. after de-
dUcting the S10,000,000 accredited to
savings section as in the Home Saw
Ings when the transfer was made, of
S7,567,23
The total gain for the banks of the
city for the fve-year period, May l,
1917, to March 10, 1922. was $60,74S-
COS. record of thrift that is a cred
1T to Washingtonians; a record that
mas enabled thousands to acquire
their own homes. and many to rise
from comfort to a condition approach
ing attiuence.
Repetition of such record would
be a grand thing.
U. 5. Steel Earnings.
During the year 1921 the United
States SteelCorporation earned S2.24
a share on its common stock in addi-
tion to the 81 a share on the pre-
ferred. But the company officials
considered that the common share
holders were possessed of large in
terest in the great surplus accumDlat-
ed through years of great prosperity,
when full earnings were not dis
tributed, and thought nothing of TAX
Ing some S14,000,000 out of the sur
plus for the benefit of the common
shareholders to make up the needed
per cent for the dividend.
The company paid the United States
taxes to the amount of $24,446,945.
of December 81. of which $131,462,6 ,691
included cash or its equivalent, in
Guiding government bonds, etc.; $116-
S56,843 cash subject to check and
$6.924,O00 time deposits.
Net earnings ling. were ,sn oos s55:e57,ss2: as
and the company's pay rolls contain
ed the names of 191,70O persons, as
compared with 267:345 at the close of
the preceding year.
Sale of Equipment Trusts.
The director general of railroads
announces the sale by the govern
ment of a total of equipment trust
certificates to date of 1921 ,OS0, 500,
plus accrued interest.
Potomac Gs Wanted.
Potomac General Electric 6s were
in good demand on today's session of
the local stock exchange, 99k being
bid and continued to the close, despite
some transactions at that price
Stocks were only moderately active
and fairly firm at 95 for Capital
Traction. 694 to 60 for Railway pre-
ferred and 80 for Lanston.
Quotations on the non-active stocks
were only slightly changed, as will
be observed by the bid and asked
quotations.
From yesterdays official sales
sheet. the record of: the Stock Ex-
change, sales of $1,000 Refunding and
Improvement Is of the Potomac Elec-
trio Company at 1863, Railway As
at 6SA and Potomac General Manu-
featuring 6s at 9912 were omitted