Evening star., 1926-04-22
GAINS IN DEPOSITS
TOTAL S4,29D,925.4l
National Banks Make Biggest
Contribution to the
Increase.
BY EDWARD e.. STONE.

BI EDWARD &. STO\F.
Complete figures covering the an,
dl'ion OF every bank in Washington
pH APil II. the da e of the control.
Ter last call. have now been coInuiled
ana SNOW that the exact amount hv
"hich the local banks exceeded ai,
i. doIhieF records in deposits vas St
-?o'SZo4l. The national banks made
lhe largest contribution toward this
TOTAL the increase in this group ha~-
liiS Deen $J,S3H.561.63. Next came
me. .fe savings banks with a gain Of
SSO6,SO8.Sl. While the trust compauics
recorded Il loss as d groun Of $354.
445.03.
1t Is important 10 note that the
,phsolldatlon of the Citizens Savings
Iank with the Merchants Bank and
iIust Co, came shortly after the
call OF December 81. and this action
meant transferring approximately 81
100000 from the total of the savings
bank group to the trust comDauv
group. The substantial gain, in spite
OF this transfer. makes the showing
OF the savings banks in Washington
especially gratifying TO the officials
IN charge of those banks The fac
that the call was not issued quite
as soon as it is sometimes. played
some part in the record deposit totals
but prosperity in Washington during
the past three months is considered
by bankers to have been the main
factor in the increase.
The complete report compiled iv
Audley a. p. Savage. expert stats.
tician. appears elsewhere i'm today
financial news. 1t includes the ft"r1re
for the call of December 81
Local Stocks More Active
More activity was noted ON ti.
Washington Stock Exchange toda
the warm weather having driven ava
Spring fever and put more pep i
local traders and investors. Potona
Electric Power preferred again led tl"
market in volume of trading. u share
changing hands at 100, the same pric,
as recorded Yesterday. Washington
Railway & Electric preferred came or-
at 903s on two small lot sales Ma
tional Mortgage & Investment pre-
ferred brought S1,.
Two bank stocks appeared on the
board during the session. The firS'
transactions covered two sales. total
ing Is shares. of Union Trust Co
stock at 225. This sale was followed
by the transfer of so shares of Wash
ington Mechanics Savings Bank stock
at so.
In the bond division Potomac PoWec
Cons. 5s sold at 10012; Washington
Gas 6S recorded one sale at 1893
while Potomac Electric Power genera
and refunding rs registered l07 on o.
81 900 turnover.
Capital Increase Approved.
Stockholders of the Security Savings
ard Commercial Bank met Yesterday
E 1,
directors to increase the capital stock
from 100000 TO $500 600 Under The
plan approved by the stockholders
$50 900 will be in the nature of Il stock
dividend of one share for each foui
shares now held. and the right to sub
scribe for the other $50 600 Will be a l.
lowed in the same proportion at $500
per share. Arrangements have been
made for adjusting fractional rights
The new stock and rights are for the
stockholders of record as of April 81
julius l. Peyser. the president. an
nounced today. 1t is understood thai
the new stock has already been over
subscribed. The increase in capita
has TO be approved by the Secretary
of State of West Virginia. as this
bank was chartered under the laws
of that State. Yesterdays meeting
was presided over by John Il. Gallo
way.
Local Retail Trade Improving.
Local merchants are expecting to
see marked improvement in retail
sales now that the weather has
turned warmer. Spring goods have
been dragging for this season of the
year because of the late Spring
Clothing men see a revival in sales
tOf nd
| Although thousands of new hats ap.
peared on Washington streets around
| Easter. millinery dealers report sale
| have not been as large as were eN
pected. They, too. expect to see
goods move much more rapidly now
| But perhaps the happiest mer
chants in the city right now are the
| ice dealers and the ice cream men
| They have been long awaiting the
| opening of the Summer rush. Oil
| dealers said today that while there
| has been a decided let-up in the de
| mand for fuel oil for heaters in resi-
| dences and office buildings. vet they
expect no slump in their business, as
the demand for gasoline has sudden
| ly picked up with the arrival Of the
| motor season. Hundreds of autos
which have been in storage all Win
| ter now are being put into service
Hotel and sightseeing business Is
| reported as excellent on account oi
| the D. A. r. convention and the
great number of other visitors now
| here.
Life Insurance Increasing.
The amount of ordinary life in
surance purchased in the Unitec
i States in March was well ahead oi
the corresponding month last year
according to figures issued today by
the Life Insurance Sales Research
Bureau of Hartford, Conn. During
the month $3.50. .669 900 of new busi
ness was paid for by companies haV
ing in force So per cent of the total
life insurance in all the United States
legal reserve companies. which is an
increase of 1915 900, or 12 per
cent, over the sales of March, 1925
This figure includes the sales of OF
dinary life insurance and not the
sales of group or industrial insurance
| This is the highest record made in
any month. with the exception OF
last December. December Is generally
United States for life insurance sales
March sales were only . per cent
below the December figure.
Every section except the East South
, Central shows a gain of per cent
or more in sales over the record Of
year ago. The highest gain mad"
In any of the nine geographical sec
tions is "a per cent in the south
Atlantic States. This section com
prises the following States: Dela
ware, Maryland. District of Colum
bia. Virginia. West Virginia. North
Carolina, South Carolina, Georgia and
Florida.
The following five States show