The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1926-07-13
BANKS reflect
PROSPERITY
~ RTGHARn HATTON

= T
ficfal bank statements IN Response
to the cali OF the Treasury De.
partment It Is apparent that pre-
dict10ns made in this column some
weeks ago have been fulfilled.
At that time there was some
pessimism regarding the state Of
Washington banks insofar as do
posts were concerned, and It was
generally predicted that there
would be a faliing-off noted when
the statements were published.
It was stated IN this column,
however. that the pessimists were
not basing their predictions upon
solid premises, and the result Of
q full publication OF the condition
OF all the banks now bears this
Deposits as Of June 80 for all
banks are reported to be $245. 1877
This Is gain OF $1,67s,421.4f
over the amount reported on April
IL. kvhtcn was S243, 763, S5O.S9. This
may be considered q credible show
ing when it Is considered that the
mfd-year call generally finds funds
more or less depleted through with.
draWals for dividend payments.
July taxes and other Obligations
and the large Withdrawals con.
sequent upon the vacation season.
Especially Good Gains
Especially noteworthy gains are.
registered by the Riggs National
Bank, the Merchants Bank and
Trust Company, the Fedetal-Ameri-
can National Bank, the Liberty
National Bank, the Mount Vernon
Savings Bank, the international
Exchange Bank, the Park Savings
Bank. the Central Savings Bank,
the Norris Plan Bank. the District
National Bank, the Farmers and
Mechanics National Bank, the
franklin National Bank, the Ana
costia Bank. the Bank OF Bright.
WOOD the Chevy Chase Bank, the|
departmental Bank, the East
Washington Savings Bank. the IN.
Qusfr1al Savings Bank, and the
Washington Mechanics SAVINGS
Bank.
On the whole, the result OF the
present call cannot DO taken IN
any other than q sanguine light as
indicating that the banks OF the
city are progressing and that their
progress Is the reflection OF gener-
ally good business and economic
conditions.
At least those who insisted that
the aggregate report OF all banks
would show a considerable loss Tor
TIE quarter ending June 80 have
not been sustained in their gloomy
predictions. and there Is now every
reason to estimate q stilI larger and
more widespread gain to be re-
ported when the next call for q
statement OF condition is issued In
Approximately three months.
Thoss institutions which reported
slight seasonal losses ct the present
call win have recovered their tenn
p0rary deposit decline and those
which showed 4 gain on June 80
viii. undoubtedly, register farther
advances In the next three months.
There e much Of encouragement
Ia the general showing made by the
statements just published, and It Il
evident that washington and its
financial institutions, trust cons
banks, are upon q solid and pros
porous footing and moving ahead ii
steady progress.
Regarding economic and financial
conditions In the United States, |
while some uncertainty prevails as
to the probable trend of business in
the last half OF the year, no tangible
justification for pessimism has fap-
peared thus far, says the National
City Bank Of New York.
Not everybody Is satisfied with
the volume or the profftableness OF
his business. but some OF these COM
plants must be discounted, as It
has been shown repeatedly that
even in- the best Of years there
always is somebody who either Is
not or thinks he f. not getting as
much business ae the others.
Retrospective Of the strike in
England. the bank expresses the
opinion that the outcome did much |
TO re-esfablish general confidence.
''On the continent. BoIshemisn has
exhausted itself everywhere except |
in Russia, and is ON the defensive
there against the spirit OF private
enterprise, which IL able to beat out
the state managed industries whers
ever Il has a chance"