Evening star., 1922-09-18
BANK DEPOSITS TO
SHOW BIC GAINS
BY I. A. FLEMING.

The belated call from the Office of
the controller of the currency for a
statement of condition of all national
from all banks, came this morning, the
date for statement being set at the close
of business September Is.
While only a few preliminary re-
ports as to deposits have beer
received from local banks. sufficient
is known to warrant the statement
that there will be a big increase in
deposits as compared with June 80,
the date of the last previous call.
This too, in spite of the fact that
the vacation season during July anu
August has been attended with large
spending. that thte Treasury Depart
ment has taken in millions of dollars
from the investing public and millions
more have gone into other invest
ments.
But Washington is getting the
money in large amounts from some
source. getting its share of the mil
lions that are accumulating in banks
these days.
The National Savings shows a gain
OF $4,000; Lincoln National. $345, 900,
Riggs National $500, 900: Metropoiita y
National. S1.543,o0o, and the Fedora;
National, $1.47S.3S2. while the Ameri-
csan noe nSecurity ana Trust ADDS nearly
Some losses are also shown. but
they will not Offset but a small part
Of this $4.4s3.oe0 gain.
Vice President and Manager.
The Merchants Bank and Trust
Company has been fortunate in Sc
curing the services OF J. L. Sherwood
one Of the leading residents of Brook
land and probably it's best known
citizen. as vice president of the bank
and manager of the new Brookland
office, to be opened October /.
Dividend Declared.
Directors of the District Nationa'
Bank have declared a regular quar-
terly dividend of per cent payable
September 80.
Branch Banking.
In a recent letter to Senator Nc
Cormick, Controller Crissinger said:
There are twenty-five states thai
authorize or permit state banks to
lave branches. / am not authorizing
the establishment of branch banks
but I am permitting national banks
in states where state banks are per-
mitted. to have branch banks, agen-
cies. to establish additional ofices
where 1T Is necessary to meet the com
petition of state banks that have lit
branch offices.
Continued acQuiescence with this
condition is bound to disinteRrate the
national banking system.
ITO meet this situation, I am, with
out hesitation, granting, where proper
showing can be made. such additiona.
offices as will permit national banks
to meet the requirements Of these
progressive times and meet the COM
petition mentioned.
state bank constituents should re.
member that the national banking
system has been the backbone of the
financial system of the United States
the backbone Of the federal reserve
system because out of $4,000 state
banks there are only 1850 in the
Personal Mention.
A. 8. Galley. cashier Of the Lin.
colin National Bank, has return ed
from a wonderful vacation in Can.
ada. Canada is described as all o, K
1t has been a popular place this sum
mer.
c. r. jacobson, cashier Of the Ma.
tional Metropolitan Bank, has ended
his stay on the shores of Chesapeake
bay.
Frank Harmon. treasurer Of the
Merchants Loan and Trust, has re-
turned from q mountain-dew trip In
West Virginia
Local Securities.
Business was fairly active on the
local stock exchange. but there was
very little change in quotations
Firmness was evident throughout the
list.
Railway common firm at 56h: Capt..
tai Traction sold sparingly at 102h
one sale at 102K. and Gas shares, al
59h.
The typesetters were nominally un.
changed.
Traction IS were very firm at s9h
and Potomac general IS at 100.