Evening star. [volume] (Washington, D.C.) 1854-1972, 1924-10-20
Gain of $13,501, 1898 Is
Shown by Banks From
June 80 to October 10.
So INSTITUTIONS NOW
SERVING CAPITAL AREA
National, Savings and Trust De-
partments of Finance Share Pros.
rerity, With Few Exceptions.
BY CHAS. T.. SHAEFFER.

District banks of deposit estab-
lished a new high record on October
10. last the date of Controller Henry
NJ Dawes periodic call for statement
of condition. reporting total deposits
of s2l4,53s.064.5s. gain of sl3,5ol,-
1856 over the previous call issued
on June 80, 1924.
National banks of the city, num-
herring 13. possess more than half the
money in the District and reported,
collectively. a gain of S9,3oi, ,l9l.4o
with only two members of this class
showing a loss. Savings banks. num-
bering -, report total deposits or
s3U,710 SU3S7 as of the latter report
ing date. gain of Sl.S22, ,52l.6o with
only one reverse. while the seven
trust companies accounted for S'o,-
al2,00455 of the total and $c.3io,-
2S5 60 of the gain. Three institutions
Of this class failed to show gain.
Call Came Opportunely.
The call was timed advantaseously
for District institutions. october ~
found the Christmas Savings clubs
maintained by majority OF local
banks at or approXimatinS near their
peak while the prevailing low money
rates in New York City and other
money markets OF the country result
ed in abnormal balances carried with
local correspondents, thus arailing
themselves OF the two per cent IN
teryst rate paid here. Then, too, the
Treasury Department has issued only
, a minimum number of calls tor re-
uIyrnent OF funds credited to the Gov
-rnmeut which has further augment
ed the sum total
Tn. Riggs National Bank led the
national bank section. as well as all
classes. showing d gain OF s3.17S. .64o.O2
over the previous call. The District
National was second with gain of
sl32y3lS.33, which change was dis
counted to certain extent by the
absorption of the Standard National
between calls. By this absorption
the District received deposits IN the
neiehborhood of $4,000. The Ma
Of sl,326, ,2S1.5s, and the Commercial
National gained $1.25S,3s2.42.
Leads Savings Bank.
Tue Washington Mechanics Savings
Bank led the savings institutions with
"A gam of SiU6.9li.O1, but, ike the
District, this gain WAS discounted to
the extent of about $4,000 III de-
posts OF the Peoples Commercial and
savings Banks which was absorbed
recently 10y the former institution
The actual leader of the savings
bank group was the Mount vernon,
with a gain of SiU3.2So.S2. followed
by the Potomac Savings, with gain
of s2lO377.s6 and by the Citizens Saw
ings, with an increase of 15l,20l.43.
The gain of the International Ex-
| change, S26,547.06, is significant in
! that this institution, one of the So
ca,led smaller group, has never re-
ported loss since inception, three
years ago.
The American Security and Trust
Company led the trust company d.
vision with IL gain of s1.140,j1I.26,
followed by the National Savings and
Trust Company with gain of S1,lo3,-
3SGU7, and by the Union Trust Com
pany with an increase of 1927 1,SSl.s9.
In a statistical report on page y de-
post data on every institution is pre-
sented. 1t was compiled by Audley F..
Savage OF the National Savings and
Trust Company.
ON October 10 there were AZ banks
; functioning in the District field, ex-
| elusive of branches. The 13 national
banks maintain eight branches, the
savings banks two, and the trust
companies six. Thus the District has
So banks scattered throughout the
territory.