Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-04
DEPOSIT DECLINES
ONLY MODERATE
Comparisons Made With
April Collaborating Bill Dies.
Farm Bonds Sold.
BY EDWARD c. STONE.


troller of the Currency Macintosh
asking for the condition of local banks
| on June 80 revealed only compare
lively small decreases since the call
of April 10, many of the Withdrawals
| being reported as made for tax rea-
| sons. Seventeen of the tWenty-four
| banks reached before closing time yes
terday showed decreases in their de
positS. Just q few comparisons Will
| show the general trend.
| Riggs National on April IL reported
, deposits at $3S,147, 1927 and on June 80.
| S42, 1929, 932: American Security x
| Trust had S30e77,60l on April II and
| s29. S3S.055 on June 80; the CONNER
| cial National reported deposits OF
s15.426,45I on April IL and S14,S69,559
| on June 80: the National Metropolitan
| had SIG, 147, 400 April II and Slo,390'-
O51 on June 80; the ral-Amerlcan
| reported sl224s.507 April u and
S12 .004,55S June 80.
The National Savings Trust co.
reported S11,260,351 on April u ana
ali O24341 on June 80: Washington
Loan & Trust had $143s9.593 on April
70 and S13,795 1876 on June 30; Union
Trust reported S7,1s4,67l on April II
and S7,140.339 on June 80; Natiofal
Rank of Washington showed S9.Voo'-
699 on April IL and $S,375,2S6 on June
| so.
While some Of the figures are only
aDproXimate, they show that the lotal
| bank deposits for the National zap
| ital will be smaller on this call. The
complete figures, covering an t,le
| hanks in the District, together with
| further comparisons, soon Will De
available.
McFadden Bill Again Expires.
Local bankers deeply regret the ad-
iournment of Congress without Inc
massage Of the McF'adden banking Dill.
| This measure has been considered the
most important banking matter before
Congress since the founding or the
Federal Reserve system, and DEFINITE
action was hoped for during the SEES
sion Just closed. While there was
bitter opposition on the part OF some
Washington bankers to the MEASURE
| investigation revealed that the ma.
iority Of the leading financial men Oh
the city were in favor Of Its passage.
| The amendment relative to the re.
newal of the charters Of the Federal
Roserve Rank was one of the chief
obstacles which delayed action upon
| it until the bill died natural death.
Secretary Mellon was ANXIOUS LOT
Congress to vote the renewal or the
Federal Reserve charters at this time.
While they have eight years 10 run,
Mr.. Mellon declared that the renewal
| of the charters now would dennltely
settle a very important issue and pre-
vent any uncertainty regarding II
| from later interfering with business.
Many Washington bankers We're
anxious for definite acton on tiie
measure even If it should be defeated,
ha mixing phase Of the bill settled once
and for all. AS the McFadden bill now
stands. two Congresses have strug-
gled with 1t without avail and much
; OF the time given to discussions OF lts
merits and defects has been lost:
whether the bill will be reintroduced
at the next session of Congress re-
mains to be seen.
Judge Bundy Oldest Director.
1udee Charles S. Bundy. who cele-
brated his 95th birthday on Friday, is
thought to be the oldest active bank
director in the United States. He Is
director in the Park Savings Bank,
and attends every meeting or the
hoard. While there are number or
other bank directors in other cities
who are we'll over 80, they are not,
according to reports in banking pub
lications, regular in their attendance
at the directors meetings
He takes as much interest in the
meetings Of the directors of the Park
Savings Bank as does any member or
the hoard. Keeping right up with the
times on all financial matters, Judge
Bundy is always ready with excelient
| advice.
His associates on the banks board,
who presented him with cane at
their meeting Friday, are hoping that
his health will continue to permit him
sessions.
Bond Issue Oversubscribed.
| The forthcoming issue Of $4,000
Farm Loan Bonds of the Potomac
Joint Stock Land Bank had been over
al, oscribed before a public ofterlng or
advertisement of the bonds was made.
George A. Harris, president OF the
hank. announced there would not like
Iv he any more of the bonds available
until about September l.
This bank paid its regular per
cent semi annual dividend on July !.
The total resources of the bank are
now in excess Of $5,000,0o0.
C. & p. Stock Drive Booming.
During May most of the Chesapeake
g. Potomac telephone localities made
some Roadway in the campaign to
make more of subscribers sharehold-
ers in the business, and during the
first five months Of the year 47.6 per
cent of the years quota of purchasers
! was obtained.
Salisbury, Nd. continues the only
city to have completed it's quota. and
even though the 100 per cent mark
| was passed some time ago, stock is
still being sold there. Lynchburg, Va,
last years leader, is close to the goal,
| while Martinsburg and Petersburg
also are going strong.
Several cities made considerable
Roadway during May, among them
Newport News. Norfolk. Clarksburg,
Morgantown, Bel Air, Annapolis and
Charleston.
Local Bankers Back Caution Move.
One Of the most important resolu-
| lions passed by the local bankers at
the Hot Springs convention related
to the selling of automobiles on the
instaliment plan. The convention
went on record as favoring the rule
adopted by the National Automobile