Evening star., 1923-04-06
DEPOSITS IN BANKS
/. BREAK D. c. RECORD
Unofficial Total of Deposits
Put at s1e7,0OO,O Gain
of Eight Millions.
BY I. A. FLEMING.

Washington has more millions of
dolla"s in the vaults OF its banks, ma
tionaI. savings and trust companies,
than ever before.
A call for a report OF condition at
the close Of business April 3 was made
by the controller OF the currency this
morning.
Preliminary reports have shown suf-
ffcient gains TO insure the wiping out
Of the previous high mark of de-
posits SISS. .9S4 .664. of May j. 1872
April .. the high mark in deposits
was judged. from preliminary reports,
sl97 600. 900. perhaps higher.
The president of large national
bank. asked as TO the, source OF the
deposits. made this reply: Every one
who ever had money has more than
ever before. and those who never had
any before have money now.
Good Wages Factor.
Another bank executive said: Con
slider the wages that are paid in the
building industry and in every me-
chanical shop: stop for minute and
watch real estate and automoolle e
activity. consider the bootlegger. who
now has $1,000 10 $1,000 each, and IN
some cases $4,000. who never kne"
IL
1t also must be remembered that
the present call comes Immediately
after the payment of the first install
ment of the income tax, N some
cases all Of it; that taxpayers OF
Washington have paid 80 per cent
of their 1929 taxes, checks having
been sent in for the amount. proba-
bly, s5500,000, last November.
on the banks side they have in
their vaults a large part of the Jan
uary disbursements as yet uneN-
pended: they have practically all OF
the millions distributed with April
interest and dividend payments and
some of them have the proceeds OF
the most recent sale Of Treasury
certificates. for Secretary Mellon still
has $500. 900, 900 in the banks of the
country.
Riggs Bank Leads.
! The Riggs National Bank has the
| largest deposits and the best gain
, s2s.20O, 900 deposits and s3.5oo.00(
| Trust Company is close second. with
| s26.359,49S deposits and s2,430,00C
| gain.
Some of the larger national banks
| lost through the settlement of court
cases that were responsible for heavy
\ withdrawals.
other banks generally reported
good gains. The Federal
with S11.0os,329 deposits. gained
| s64S.259; the Liberty National. with
| s2.459,73o deposits, showed s441.10i
| increase; the Union Trust Company
s6.499.17S deposits. s6Ss,060 gain
| Farmers and Mechanics National
! s2.900.o34, gain s15S,026; the National
| Savings and Trust Company gained
| s351.652: the Security Savings and
| Commercial. s214.901: National Banl
/ of Washington. deposits of sS,150,424
! gained s64.43S: Bank of Commerce
| and Savings gained $65.441.
Columbia National gained s95,.
544.O4; Lincoln National, with $685.
! S6S deposits. gained s65,S9S; Pc.
! tomac Savings gained s65,SsS. Second
+, National gained s179,270. Park Saw
! ings. s2.60S.263. a gain of sS12.s21
| Northwest Savings Bank, with s725,-
s1e deposits. increased $l23,372
Washington Loan and Trust showed q
gain Of s646.775, and the Munse9
| Trust Company a gain of s33.956.
! The smaller savings institutions are
likely TO keep up the percentage o.
! increases shown by other banks.
These figures are subject to som,
adjustment, but the official totals O
| Individual institutions will vary yer!
little from the preliminary figures.
The losses will aggregate less thar
/ 100000 all told.