Evening star., 1925-07-02
NEXT BANK REPORT
IS DUE VERY SOON
Losses in Deposits Expected
From Heavy June With
draWaIS-NOtes.
BY CHAS. L. SHAEFFER.

Blanks for reporting condition OF
banks in the District of Columbia
nave been received by the various in
stltutlons, and ii naturally follows the
call VIII be issued within a few days
AS a point of interest, il is recalled
the controllers Office has set the
summer reporting date as of June 80
FOR the last seven years. the break in
regularity coming in 1918 when June
70 was named by reason of the follow
ing date coming on Sunday
lnasmuch as June 80 marks the
close of the fiscal year, ii is held de-
slrable by Treasu officials. it is said,
10 have banks report their condition
as or this date in order that the con-
troller may submit complete statistics
IN his annual report to Congress
substantial decline in deposits
VIII undoubtedly be reported by
Washington institutions on the forth
coming call. Expenditures during the
latter half of June were unusually
heavy, as were temporary Withdrawals
to escape payment of the District
tangible and intangible tax. A ma
Jority of these Withdrawals have by
now probably found their way back
into the banks after a short duration
in the investment markets
Total deposits of Washington banks
on April g. date of the last call,
amounted to s232 .677.47717, the high
est sum ever amaSsed by reporting in
Stitutions.
S20,000,000 Paid Treasury.
Banks of the country are today
paying into the Treasury more than
$4,000, 900, representing proceeds Of
sales of Treasury paper
FIFTY per cent of the balance out
standing acCruing from the additional
sale of Treasury per cent bonds of
194454, and like proportion of the
outstanding balance of TD1925 per
cent certificates of indebt edneSS dated
March and maturing December Is
next.
Bonds called today aggregate s12.-
$4,000. and certificates total 50 9.7so-
300. The former We're issued to the
extent of S290,154,70O, and the latter
TO s219, 462 400.
Failures Losses Lower.
The half-yearly report of commercial
failure issued by r. G. Dun & Co.
with 10,785 for the first half of 1924,
but this years Indebtedness of S239.-
39S.450 fell much below the S304,459,-
$50 last year
Defaults for the second quarter
were 9.5 per cent below those for the
first quarter, but 63 per cent in ex-
cess of the total for the second quar-
ter Of 1924. The Indebtedness of s11o,-
916.610 for the second quarter was
less than the amount for the same
period of all years since 1920.
Gas Stock at New Peak.
Stock of the Washington Gas Light
Co. reached an unprecedented peak on
the Washington Stock Exchange to-
day, when 10 shares brought 63l4 in
the closing transa ction. Opening
strong a 90, il gained by fractional
advances to its record high on sales
of 80 shares.
Today's tone was huoyant Capital
Traction moved slightly upward to
par and half on sales of 80 shares.
and 10 shares of Railway preferred
was recorded at 81. Lanston was up
to SLY. and National Mortgage and
Investment, preferred. held firmly at
9i2 on sales of 100 shares.
Bonds were almost neglected $4,000
Gas 5s selling at 101 and 50 900 Poto-
mac Electric consolidated 5s at lOO1s,
Asks for New Financing.
The Rock Island Railroad today ask
ed permission of the Interstate Com
merce Commission to issue and sell
S4,5OO,OO0 in equipment trust certifi-
Gates, to purchase equipment TO a to-
tai value of 1924 $50.
Southern Railways Surplus.
The Southern Railways surplus of
S6.T92 900 for the first five months of
1925 is equal, after preferred divi-
dends, to S462 a share on the common
stock, against S5,41S.0O0. or S3.47 a
share. in the same period of 1924.
Bankers Planning Trips.
Washington will be practically de-
void of bankers over the week end,
the majority of whom are availing
| themselves of the two-day opportun-
lty to leave the ultry city. Practical
| ly all will HE to seashores and re-
sorts, one exception being W. w.
Spaid of W. B. Hibbs & Co. who
will visit his parents in Ohio His par
ents. incidentally, are aged So and
| SO years.