Evening star., 1923-06-18
Large Sums Believed Left
Here, But Figures Show
Almost No Change.
STORES REPORT LITTLE
DIFFERENCE IN BUSINESS
Theaters Suffer, But Hotels, Hack
ers' and Lunchrooms Thought
to Have Done Well.


friends who were in Washington
during their recent convention, un-
doubtedly left a considerable amount
of money here, but the banks of the
National Capital fail to show it.
Comparison of total deposits of f1f-
teen prominent banks of the city for
June 10, with deposits as of June l.,
show a total grand loss in deposits
of s705.5s3.95.
This loss in bank deposits was ac-
counted for by some bankers as the
natural result of intangible and in
come tax payments, the payments
having been made few days prior to
June Is.
Gain Over 1922.
Hotels, hackers, restaurants and
street car companies got the Shrin-
ers' money, in the opinion of many.
but what they obtained from the
visitors is not reflected in the bank
deposits.
Clearings of the local banks, June
to June 16, inclusive, which includes
the period of Shrine activity. show a
gain of S4,711.969.66, as compared
with the same two weeks during 1922.
skeeks. 1929. $47.99O.122 go; for the
two weeks of 1922 s43.278.152.94.
The amount of money left here by
the Shriners, however, would not
show in the clearings. because the
merchants of the city would not cash
checks for strangers.
stores Differ In Opinions.
IT is admitted that some of the big
downtown department stores were
agreeably surprised by the amount
of business done during Shrine week,
although other stores do not seem to
he as enthusiastic. I'VE noticed their
presence" said the financial head of
one big store.
OF course, the Shriners spent money,
but maybe they took some away with
them, too. 1t Is certain that in some
sections of the city business houses
did not do normal amount OF busi-
ness, owing to the fact that all the
residents were down town most of
the time during Shrine week.
Movie House Suffers.
One motion picture house, it is un-
dtrstood. in the western part of the
city, which normally does an excel
lent business. only took in s35 the
first night of the big week" The
second days receipts were s25. The
third day it closed.
THIS instance, while extreme, shows
perhaps the way the wind blew in re-
gard to spending on the part of the
Shriners. The bank deposit state
T.ents do not show any gain in de-
posits, in fact, just the reverse.
This is accounted for, as pre-
viously stated. by the intangible and
income tax and also, according to
some bank officials. by the fact that
persons of the business world COM
ing into the bank during the Shrine
week expressed the belief that busi-
ness was "in mighty poor condition"
generally.
Figures by Banks.
Total deposits of the banks sought
by The Star today follow. One bank
asked that its name be not used and
that its figures be not used except
in the aggregate, SO neither name
nor figures for that institution fol-
low. Its figures, however. were used
in arriving at the total grand loss
in deposits.
Total deposits:
Potomac Savings Bank-.Tune 1,
s3,062, ,245.06: June Is, $3,0s3,136O5;
gain. s3O,S9O.9s.
National Savings and Trust Com
pany-June /, s10,054, 900; June Is.
s9.S8s. 900; loss, sl66.OOO.
:25;s4I; 900; June Is, s2s.sa2 900; loss,
Second National Bank-June l.
sa7S9,ooo; June 15, s4.s61,OOO; gain,
Washington Loan and Trust Com
pany-June /, S11,953.S87.72; June 15.
$11.939. .256.94. Loss, s14,6307S
American Security ooa and Trust Com
S26,031.019. Loss, SS6S.347
Columbia National Bank-June |.
s2,S54,00o; June 15, $2,943.OOO. Gain,
Farmers and Mechanics National
Bank-June l, s3.023.717; June Is, So
10S,592. Gain, S20,60O.
Commercial National Bank: June
s12,423.S73; June Is, s12,6O5,S07. Gain
s1S2,434
District National Bank: June 1.
s6,44S.l53; June 10, s6,991,2O9. Gain,
S54S.O56.
Federal American National Bank:
June l. s11.356.000: June 15, $11,141,-
600. Loss, s2l5.000.
Liberty National: June /. s2.43O.-
697,76;, juno Is. s2,437,7sO,sS. Gain,
Merchants June Jun l.; A,sa5,s27.24;
National Bank of WashingtonNJune
I, $7,5I6,703.1S; June Is, s7,557,95O.12
Loss, s1S.753.06.
Calls Convention Improbable,
r. Golden Donaldson, president Of
the Commercial National Bank (whose
bank showed gain in deposits on the
18th over those on the 1st, declared:
1.-The reported loss is not neces-
sarily indicative of the Shrine con-
vention. believe. however, that
large conventions are not profitable
Too much preparation is made in an
ticipation of large amounts of money
to be spent. l talked with a promi-
nent motion picture manager and he
said a few days before the con-
vention arrived business fell Off
During the convention there were so
many sights to see that very few
attended his theaters. After the con-
vention everybody was tired out
and the movies were not patronized.
Hotels, too. lost, because three or
four days before the arrival of the
Shriners they could not accept any
reservations. The regular, steady.
profitable business was sidetracked
for the convention, and 1t was this
business that paid. Large gatherings
are not beneficial. The lunchrooms. /
am told, made a lot of money. Our
bank has had a steady increase of