Evening star., 1922-11-11
FEDERAL-AMER|CAN
: GAINS IN DEPOSITS
Increase $261, ,000-Merg-
/ ers Are DesirabIe-NeW
York's Record.
by 1. A. FLEMING.

:, Since the merger of the Federal Ma
.fional and the American Natiohai
blanks, the combined institution has
.hncreased It's deposits by some
,isa6l, 900. with steadily increasing
SIientele from day to day.
- The large official roster of the banh
! aIas its hands full caring for the busl-
t,ness as it develops. Not only mas
There been big increase In new
!: business. but the merged institution
;ihas held practically the entire depos-
! its of two participating banks
J. There Is in this record of the Fed
,eral- American much food for thought
ion the part os other institutions. The
Increased power of the feaerAl-
f.Nmerican for caring for the business
needs of the public, increased pusl-
;.ness and Iessened overhead charges
,might be repeated over ana over
tagaln. 49,,
:, New York city has been setting
!twouderlul merger pace, personahty
.ibcing buried for tn" gooo Oh tao
Thanks involved.
Il The Bank of America aosorped the
Franklin Trust Company and theh
took over the Atlantic National BANK
National city Bank took over the
Second National.
took over the Lincoln National.
chase National took over the Net
rnpolitan. while Chatham and Phoe-
nix National acquired New YORK
County and Union Exchange.
The Seaboard National absorbed the
Mercantile Trust Company.
Also. within the last eighteen
months three large banks gave up
their charters as national Dahks-
Liberty, Bank of New York and
Irving.
The Interpretation is that the New
York charter appeals to the three
banks named as preferable TO the ma
tlonal charter.
system have practically the same
privileges as those in 1t, through u
member banks service.
The much discussed privilege Of
starting branches is a point OF real
importance, permissible for New fork
state banks and may yet be denied
to national banks.
In Washington in the last hfteen
years there have been but three con-
solicitations - the Federal-Amertcan
with the District National and the
merge of the Union Savings with the
Continental Trust-really two mer-
gers and one sale.
can serve its clientele; the more SEN
sible mergers the better-where
banks that can hold the business are
involved.
, The building committee of the Fed
eral-Americ.u Bank has been hold
ing meetings practically every day
for a week talking over situations
land conditions rs tney develop, con-
sider ring plans and trying to decide
whether the bank should stay where
it is today with remodelfng OF that
buildirS or build a new home on the
former location of the Federal Ma
tional
No decision has been made up to
date.
Personal Mention.
NJ T.. Allies will be at his desk at
tho Riggs National on Monday.
Thomas 7, Lawler, secretary of the
International Bank Is mafing tour
of inspection OF the Iowa banks in
which the International is financially
Interested.
Chemical National Bank.
:, block of 80 shares of Chemical
National Bank stock is offered for
sale a $3.50 a share.
This institution has paid dividends
without interruption since 1S49. In
1907 the capital was increased from
$500. 900 to s3,000.0 900. stock dividend
of S2.700,00O being made. When the
Citizens National was absorbed the
capital was increased to $4,500. 900.
The bank has deposits of S131,000.-
600 and $4,000, 900 surplus and undf
rided profits. 1t pays "a per cent
dividend
Local Securities.
The week closed with compar arative-
1y light trading in local securities.
Washington Gas shares were soft
at 55i5 to 55 LanstOn sold sparingly
at 19l:. Capital Traction brought
l04it to 104 for a very few shares.
Potomac consolidated SIS opened at
90 and sold off to 95S,. Metropolitan
5s. 9S.
a sale of Firemen's Insurance stock
was reported at II.
After the Consummation of the big
Railway common transaction locals
may be more active.