Evening star. [volume] (Washington, D.C.) 1854-1972, 1924-06-30
LOCAL BANK CALL ID
DUE IN FEW DAYS
CIearings Break Records for
June-RaiIWay Preferred
Higher-Notes,
BY CHAS. p. SHAEFFER.

Forms have been received locally
Tor the reporting of condition Of all
local banks, and it is expected that
request for this information will be
made the latter part of this week or
the hrst of next, dating as of the
close OF business. June 80, the end of
the fiscal year
Opinion varies in local circles as to
the condition of bank deposits, the
concensus being there will be a de-
cline shown. This will be occasioned.
1t is said, by the Withdrawal of huge
sums toward the end of the month,
in order to defeat the personal prop
erty tax, which subjects bank de-
posits on June 80 90 assessment. 1t
was explained that these funds are
withdrawn toward the end of the
month and placed in tax exempt Sc
curities for a few days. the interest
on the investment compromising the
holder for what bank interest he
might have lost.
A perusal of bank statistics in past
years substantially bears out this
theory, some of the larger institu-
tons showing a decline of several
millions of dollars during a three or
four day period. This decline was
quickly made up with the beginning
of July, statistics show.
The reporting blank. in substance.
is similar to the preceding one. but
additional information on branch Of
noes is asked for. In it the controller
asks for the number of additional of
fees operated by banks under author
ity of the controller of the currency
act and under the federal reserve
statutes.
Indications point to four calls this
year.
Brokers' Commissions Raised.
Nominal increases in brokers' com
mission charges will be put into eff
feet here tomorrow by the leading
firms of the city. The new rates will
be:
minimum charge on each individ-
ual trans action where the amount
involved is SIS or more with the ex-
$3.50
A. charge of $3.50 per thousand on
all bonds, when the commission ex-
ceeds the minimum above stated, re-
CARELESS of the date of maturity ex-
cepting liberty bonds or other obIi-
cations of the United States.
A charge of s1.25 per thousand on
liberty bonds or other obligations of
the United States, with a minimum
charge of $1.2S for each individual
transaction.
On subscription rights or on ind-
vidual purchases or sales, where the
amount involved is less than SIS,
minimum of 81 shall be charged.
The new schedule is applicable to
& Co.: F. B. keech & Co.: Fenner &
Bean, Hartman & Co.. John L. Ed
wards & Co., Munds & Winslow. Red
mond & Co. and w. B. Hibbs & Co.
Bank Clearings Break Records.
Bank clearings in June broke all
previous records. the total of s103.-
10000 reported in check exchanges
peak reached in May, 1928, when SOL
40S,0SS passed through the local as
sociation.
Clearings for the corresponding
month of last year amounted to
s101 .20S.121. and last month they to-
Banker Wins Golf Fame.
George H. Keesee. cashier of the
| Federal Reserve Bank of Richmond,
! has joined the hole-in-one club. ne
! eotiating the intricate third hole OF
the Country Club of Virginia in a
solitary effort; The hole in question
| is 206 yards long.
Mr.. Keesee achieved prominence at
| the recent convention of the District
! Bankers Association at White Sui
phur Springs by turning in the low
est score of the Washington dele
| cation.
Personal Notes.
| Percy B. Mccoy, formerly of the
selling force of Crane, Paris & Co.
will join the sales organization OF
| Graham. Parsons & Co. tomorrow
morning. Mr.. Mccoy is the son Of
the chief justice of the District Su-
preme Court.
! Judge Mary O'TooIe and Mrs Jaap
ME Kafka, directors of the CitiZe ms
Savings Bank, will leave for abroad
July 5, the former visiting her homs
in Ireland. Mrs. Kafka goes to Paris
Large Surplus Reported
The report of the North America
| Company and subsidiaries for twely.
months ended May 81, 1924, shows Il
interest and preferred dividends. but
before depreciation, compared with
a surplus of $12,72S,342 before de
probation in the previous year.
There are outstanding $751; >
and 2,7s2,s16 shares of $40 par com
| mon stock.
| Railway Preferred Mt New Top.
| Selling of preferred stock of the
| Washington Railway and Electric
| Company reached new heights on the
| local board today when 645 shares
trade, a quarter of a point, to 1874
was the best advance the issue could
| register.
| Capital Traction stock was un
changed at 80 and fraction, as was
Riggs National Bank at 200. Mer--
| gentha1er brought l59 and Nationa
Mortgage anG Investment preferred
1875.
| bonds W.. .,stless.