The Washington herald., 1922-05-13
USUAL BANK HOURS
TOBE MAINTAINED
NDISTRICT HOUSES
Clearing House Adopts
Resolution Creating
No Changes. /.

Washington Clearing House AS
ISOLATION called yesterday after
noon for the purpose of discuss
ing the alleged daylight saving
which goes into effect here Monday.
May is, a resolution was adopted
maintaining the usual banking
hours in the District of Columbia,
namely from 9 a. m until Q D. m.
and from q. m. until IL O'Clock
noon on Saturday. The daily
clearing house will meet as usual
for daily clearings, namely 10 a. m.
and D. m.
The matter OF early closing was
discussed in the light of the chaos
In which the Clearing House As
ISOLATION found themselves, and
due to their unsuccessful efforts to
have Congress pass a daylight saw
ings law which would include ad-
vancing the clock one hour and
thus solve the pending unfortunate
situation, the District banking fra
ternity will begin functioning on
Monday morning. next, in disor-
ganized surroundings.
The clearing house resolution
will apply to all members and as
sociate member institutions, COM
prising forty-nine banks.
Washington Bank Deposits.
Total deposits of fifteen local ma
tional banks, twenty-seven State
and savings banks, and seven trust
companies of the District of Column
bia aggregated s1s3.0S0,997.55 at
the close of business May 5, 1922.
according to statistics compiled by
Audley P. Savage of the National
Savings and Trust Company. This
amount represents a gain of s5,673.-
936-1O over the previous period end
ing March 10, 1922
National banks head the list, both
with respect to deposits and in
gains. reporting s95.544.926.72 and
S2.542,s1z.74 respectively. These sta
tistics do not include the Dupont
figures for the previous period
The seven trust companies of the
District report deposits of s61,167.-
330.ss, representing a gain of So
1ss,491.6S over the previous period.
Deposits of the Merchants Bank for
the previous call of March 10 are
not included nor is the deposits
of the Merchants Bank and Trust
Company (organized between calls)
on May 5, aggregating s5.e03. 666.45.
Savings banks had deposits of
s26.36S.73s.s5, representing a gain
of ss42,51.7s.
Condition of Member Banks.
Aggregate increases of s2s.OOo.-
900 in corporate security holdings
and Of s41.0o0,O0O in loans sup
ported by such securities, also a
further addition of s36.000,0O0 to
the investments in government Sc
curities, as against a total reduc-
tton of $4,000, 900 in loans secured
by government obligations and
commercial loans proper. are shown
in the Federal Reserve, Boards
weekly statement of condition of
May of 800 member banks in lead
ing cities.
Government deposits of the re-
porting banks fell of about s19,-
Oe5e5O, while other demand depos-
its (neD increased by $4,000. 900
ank time deposits $4,000. 900. Total
borrowings from the reserve banks
increased from s15s. .0OO, 900 to $780,
100000. or from IL to IL per cent
of the reporting banks aggregate
loans and investments.
Reserve balances, in keeping with
inc suOSNdnlldl increase IN deposit
liabilities of the reporting institu-
tions. show an increase of s2S.00O.- -
900, of which $4,000. 900 represents
the increase at the New York City
banks.
Recovery from the more burden
some demands which centered
around May 1 is shown by the COM
bined statement of the twelve Fed
eral Reserve banks. AS a result the
ration has advanced approximately
% of 1 per cent to 77.3. This
figure corresponds fairly closely
with the general level which has
prevailed since early in March. II
would appear. therefore, that the
expansion in liabilities which oc-
CURED around the LIST of May was
merely a temporary condition. Such
a conclusion is confirmed by the
easing in money rates which has
occurred since that time.
Local Securities.
Vigorous buying of Capital Trac-
tion SIS featured yesterdays session
on the Washington Stock Exchange.
Unusual trade. aggregating 800
face value, failed to weaken the
price of this security which hovered
at SIX and q. Gas 5s sold to the
extent Of $1,000 at 941z, and $1,000
Riggs Realty short 5s sold at 90.
In the stock list. 81 shares Of w.
r. & z. preferred sold at 69k to
e9X. the trend being upward. with
limited shares of the common SELL