Evening star., 1924-04-11
GAIN OF $104,551.69
IN DC. BANK DEPOSITS
Total Shown March 81 by A In
stitutions Placed at
$1sS, ,543, ,se3.5O.
GOOD RECORD FOR SAVINGS
General Survey of Local Finance
and Trade.

Deposits of the forty-four District
banking institutions amounted to
$ls8,543, ,s63.50 on March 81, last, a
gain Of S104.55I69. as compared with
the previous condition asked for on
December 81, 1923, an official com
pilation of statistics made public by
Audley p Savage Of the National
Savings and Trust Company this
morning shows.
A most creditable showing by the
savings banks of the District was
wholly responsible for the net gain
shown. These twenty-three institu-
tions, only six of which reported re-
serves, totaled an increase in deposits
of $1,100, ,54435, which was offset by
net decrease of $S70.910.67 in de-
and by a loss of S125, ,081.99 reported by
the seven trust companies.
Reporting Banks Reduced by Thnee.
The number of reporting institu-
tions was reduced by three for the
current call the Exchange Bank of
Washington having been absorbed BY
the Merchants Bank and Trust Com
panv, the Terminal Commercial and
Savings by the Commercial National
and the American Commercial and
Savings by the Security Savings and
Commercial. A deposit line of $1,2I4,
964.94 was involved in these trans
actions, wsich, of course, was like
wise absorbed
The National Metropolitan Bank led
the entire group in reporting gains,
showing an increase of $1,27715e.41-
In the savings bank group the Sc
curity Savings and Commercial was
in front with a gain of $326T131S,
fr-hi Ia h. No. t.. nj T,.t1u
Comany led the trust company d.
vision with s260.591.35.
Statistics appear elsewhere in this
issue.
Guaranty Company Formed.
Announcement was made this morn
ing of the formation of the Mortgage
! Bond and Guaranty Corporation, in
corporated under the laws of Vir-
ginia, for the purpose of making con-
! struction loans and purchasing first
| trust notes secured by improved in
! come e-producing real estate which
| is advantageously located" The
| firm has an authorized capitalization
| of $4,000, 900. equally divided into
per cent cumulative preferred and
common stock, both with a par value
! of $40.
! The company. which is located at
141S / street northwest, is Differed
| by Harry a. Kite, president; Apple
ton p. Clark. jr, and Hugh A Thrift,
] vice presidents: W. J. Waller, treas
urer, and Frank T. Morse, secretary.
! The stock is being offered by
Hughes & Co.
! Building and Loan Election.
! DR.. Seneca B. Balm has been re
elected president of the Mount
Pleasant Building and Loan Associa-
! ton at it's annual meeting. H. K.
/ Hobart was named vice president, and
| other officers were again chosen as
! follows: Harley V. Speelman. treas
urer: C T Clayton, secretary: G.
! Carroll Dimond and w. a. Buscher.
! assistant secretaries.
Reports submitted to the board
! showed the association to be in
/ healthy condition as the result of
! large increase in business during the
year, and indications are said to point
| TO even greater prosperity in the com
| ing twelve months.
Feature of Today's Market.
Selling of stock of the American
Security and Trust Company was
easily the feature of todays restrict
| ed trade on the local board. This
| issue sold 20 the extent of $50 shares
at 3O2 and 3o24s, representing slight
| decline from the previous close. Sec
| ond National sold to the extent OF
| forty-five shares at 160.
! National Mortgage and Investment
| preferred advanced fractionaIy to
/ s%4. at which figure twenty shares
changed hands. Washington Gas IS
. sold to the extent of 81 900 at slightly
: above par, and Capital Traction stock
| brought 93H. Gas Light was un-
, changed at 1875.
Personal Mention.
Edward l.. Hillyer, vice president
| of the Union Trust Company, is en-
! route to Europe for several weeks
| vacation.