Evening star., 1922-01-04
EXPECT DECREASE :
IN BANK DEPOSITS
Holiday Withdrawals Are
Likely to Show in Decem-
ber Statements.

Due in no small part to Withdrawal
of funds for holiday purposes, indica-
tions point, from partial compilation
that deposits in Washington banks as
of the call of the controller of the cur
rency for December 81, 1921, will show
a decrease in comparison with the total
deposits reported September 6. the date
of the previous call issued.
Several of the larger national banks
reported marked Increases during the
period, while there were others that
showed decreases. The savings banks
in all probability will report losses as a
whole, and the same is doubtless true
of the trust companies. The Banking
Trust and Mortgage Company, which
opened for business December 10, re-
ported deposits amounting to Sl2S,0Ob
Full tabulation of deposits for all banks
will be issued shortly.
New Trust Company Under Way.
Authorization to proceed in the sub
scriblng of stock to the new Mer--
chants Bank and Trust Company
was voted at a meeting of the stock
holders of the Merchants Bank, called
by the president of the institution
Peter a. Drury, yesterday.
Holders of stock in the Merchants
Bank agreed to subscribe to the new
stock in amounts equal to the stock
they now hold in the old institution
Mr. Drury will be in charge of the
liquidation process necessary TO con
vert the present institution into the
new bank and trust company. He
said today that subscriptions to the
stock of the new concern have been
coming in rapidly.
New Directors Added.
At a meeting of the board of di-
rectors of the Washington. Great Falls
and Grangeville Highway Company
held at Mclean, Va. last night, Pc
ter n. Drury, president of the Mer-
chants Bank and Trust Company, and
+. E. White. president of the Peo-
pies Bank of LeeSburg, Va, were
added to the board.
Work of construction of the new
road between Washington and Lees
burg will be started as soon as the
weather permits, Robert n. Harper,
president of the company, said yes
terday. Mr.. Harper announced
further that the entire $4,000 bond
issue to pay for constructing the
road had been subscribed by resi-
dents of Washington and Virginia.
President willard Optimistic.
In a New Year letter to all stock
holders of the Baltimore and Ohio
railroad President Daniel Willard of
that corporation sounds an optimistic
note for the immediate future. He
says in part:
While the year which has just
ended has, no doubt. brought disap-
pointment and perhaps sorrow to
many, upon the whole l think we
have reason to feel thankful. The
Baltimore and Ohio. in common with
other railroads, and in fact with all
other industry, has felt the serious
depression in business, and for that
reason has been forced, temporarily,
at least, to curtail it's operations
whenever possible. In short, the Bal
timore and Ohio Company has been
forced by circumstances resulting
from the war to face the problem OF
living upon a lesSened income. just
as We have all been forced to do as
individuals.
las a nation and as individuals, we
are gradually regaining the habits
of thrift, economy and well ordered
industry which existed before the
war, and it is hoped this will be re-
fected in a larger and more profit
able business in the coming year,
and, l trust, with the continued CO.
operation of ail-ofiicers and en-
ployeS alike-that the Baltimore and
Ohio Company and all in its service
may secure a fair share of the pros
perity which l firmly believe the near
future will bring to us ALL"