Evening star., 1922-02-11
j. s. RESERVE RATIO
/ SHOWS A DECLINE
Now Stands at 76.1 Per
Cent, Compared With 1852
a Week Ago.

uue 10 an increase IN deposit ia-
bilities, combined reserve ratio for
the federal reserve system declined
OF of a point during the past week,
and now stands at 76.1 per cent. as
compared with 76.2 per cent a week
ago and 4s.6 per cent year ago.
There was a further gain OF
$s,So0,000 in gold, bringing the total
now held to $2.s21 $4,000. or gain
of $7ss,s74,ooO compared with year
ago.
Total bills on hand decreased about
$10.000,0o0 and amount to $917.7 1000.
Decrease was exclusively in CONNER
cial paper discounted. Bills bought
in open market and bills secured by
government obligations both in
Commercial bills now amount to
$4S1.55s. 900. which compares with
1888, $4,000 a year. ago. In other
words, commercial loans held amount
of to about one-third Of the CONNER
cial bills held year ago.
For the second week federal re-
serve banks increased their invest
ments in government paper. For the
week under review the increase
amounted to $36.6S4.000.
Deposit Increase.
Increase of $1s,o00.o00 in deposits
brings the present total up to $1.S5S,
$4,000. This is an increase of $44,-
O00, 200. compared with a year ago.
Federal reserve notes in actual cir
culation amont to s3.1ss.l7s:ooo.
week ago and $3,050.416.00Q a year
ago. At the peak there were S3,404,
$4,000 of these notes In circulation.
From this figure there has been a
shrinkage, therefore, OF $1,2SS,752,00O.
Places Loan ON Terminal.
The Washington. Baltimore and
Annapolis Electric Railroad Com
terminal. including real estate. build
ings and trackage rights. under the
jndenture securing the company's
first mortgage per cent bonds, ac-
cording to an announcement.
company in the neighborhood Of
$640,o00, have heretofore been free Of
the first mortgage lein. 1t Is pointed
out that this places the company III
a position to issue ard withdraw at
it's discretion. $1,000 par value Of
first mortgage bonds for each $500
expended to date upon the terminal.
Preliminary figures on last years
earnings of the company show net
income after operating expenses and
taxes of $790,499, as compared with
S6S0,0SS the previous year, dA
crease of about "a per cent.
After fxed charges, amortization
and miscellaneous expenses there re-
mained a balance Of $230,53O, as COM
pared with $236,62s in 1920.
Forum Dinner Success.
As each of the forum dinners, recently
inaugurated by the Washington Chap
ter, American Institute of Banking, is
held, the more apparent are their sue
ho 1o ot VTh1lTgdAv
the Madrillon. William Clabaugh, GER
titled public accountant, was kept busy
answering questions from the bankers,
and at the finish Of his address. which
Applied to Individuals" he was roundly
Congratulated by all present.
Made Cashier.
Charles v. Etzler. receiving teller at
the Metropolitan National Bank, has
been elected cashier Of the Anacostia
Savings Bank, and will assume his new
duties at once.
Bankers' Association Meeting.
Directors Of all member banks are
being invited to attend the special
meeting Of the District Of Columbia
at the Cosmos Club. In addition to the
address by Eliot H. Goodwin. resident
vice president Of the United States
Chamber of Commerce, there will be an
analysis OF an ADDRESS HiAoS " Hta1SIS
Coates, jr.. at the association conven.
tion on ':Audit and Auditing Department
for a Modern Bank.
Personal.
r. Golden Donaldson, president OF the
Commercial National Bank, has gone on
his usual winter vacation to Phoenix'
Ariz.
Ezra Gould, president Of the Washing
ton Mechanics Savings Bank, has re-
turned to the city, after a vacation
spent at Palm Beach, Fla
Phiuus Heads Forgery Department.
Robert 7. Phipps has been appointed
dena rfment Of the Maryland Casualty
Company, according to Baltimore an
nouncement yesterday:
MI. Phipps has had wide experience
in this line Of work, being FOR two years
New England representative OF the
Globe Indemnity Company in the same
denartment.