Evening star., 1927-10-13
DROP IS INDICATED
IN BANK DEPOSITS
First Figures on Today's Call
Show Moderate Declines.
Taxes Factor.
BY EDWARD G. STONE.

Controller of the Currency Joseph
w. Mcintosh today issued call for
the condition of all Washington banks
at the close of business on Monday,
October 10.
Figures obtainable today from the
leading banks in the city indicate that
they will report decline in total de-
posits at this time in comparison with
total deposits on the date of the last
call, June 80.
The loss in deposits will be of only
moderate proportions and is con-
sidered by bank officials to be largely
seasonal.
Riggs National reported deposits on
~October 10 of $42 2,276, ,049.33, which is
decline from the June 80 call of
$2,537, ,273.s3.
The American Security & Trust Co.
reported deposits on October 10 as
$50, ,S42. 1866, a decline of 1886, 1903. 29
from the last call.
Deposits of the National Savings
& Trust Co. totaled $11,197, ,430 on
October 10. these figures showing a
decline of $133.503 from the June 80
returns.
The National Bank of Washington
showed moderate gain over the June
report on deposits. The Washington
Declines Outweigh Gains.
The above returns are sufficient to
Indicate that more of the local banks
will report declines in deposits than
gains. One back that will report an
extra good gain is the Security Saw
lngs & Commercial, which includes in
the October figures the deposits of the
old Central Savings Bank, that bank
having been absorbed since the June
80 call.
The majority of local bankers will
not be surprised to note falling off
in deposits in the Capital. Payment of
September taxes caused some pretty
heavy Withdrawals from many ac-
counts.
Washington merchants have also
been stocking their shelves with Fall
goods which had to be paid for when
purchased. That lowered many of
their accounts sufficiently to make a
marked impression on the city's total
deposits.
In short, the June call of the con.
troller caught local banks at q par
ticularly favorable time, while the call
sent out today finds them in not quite
as good a position, following a rather
quiet Summer season. Bank officials
said today that they considered busi-
ness conditions here as just about nor
NAL, the lower bank deposits reflect.
ing no serious slump.
Local Stock Trading Broad.
Broad trading at strong prices was
recorded on the Washington Stock
Exchange following the Columbus day
closing.
Washington Gas Light climbed an
eighth of a point to a new high mark
of 81 Is. Potomac Electric Power 6
per cent preferred was strong at HOY,
while the 512 per cent stock was
market leader at 105ss Railway and
Electric preferred sold at 9SB.
Ten shares of Riggs National Bank
stock sold at sos, Sanitary Grocery
preferred came out at 102, Lanston
opened at 1914 and dropped to 107,-
and FederalAmerican Co. preferred
came out at 101. Capital Traction
moved up to 107.
There was considerable trading in
the bond division at strong prices. In
the unlisted department two shares
OF Raleigh Hotel Co. stock were sold
at 100as.
/ Insurance Funds Well Placed.
An outstanding feature of the re.
view made by the Department of
Commerce of insurance company in.
vestments during the last four years
Is the large reduction in the holdings
of Government bonds. Forty-one COM
panies whose assets represent 80 per
cent of the total assets We're used by
the department as basis for the
study.
While Government bond holdings
hxy l.,
utility investments were increased by
$550,000,000, railroad securities by
$471 100000, and farm mortgages by
1858 100000 Almost half of the as
sets of the companies are invested in
farm and real estate mortgages. OF
$10,9S2, 100000 of investments, the
mortgage holdings accounted for $4.-
500. 000,0
Although the actual investment in
railroad securities is greater than four
years ago, the relative investment is
somewhat smaller. In 1923 railroad
securities represented "a per cent of
insurance investments, but 1927
figures show only 20 per cent in rail-
road securities.
While policyholders in sound insur-
ance companies never worry how their
money is invested, yet they can but
be reasSured by this report showing
the high-class securities in which their
money has been placed. Safety has
still been one of the chief factors In
the marked investment changes dur
ing the last four years.
In and Out of the Local Banks.
Chairmen of the various District
Bankers Association committees are
preparing reports of coming activities
to be presented at the Fall meeting of
the whole association next Tuesday
afternoon at o'clock, w. w. Spaid
presiding.
Such marked interest in a class in
public speaking was displayed at the
institute last evening that class will
be formed at once under Prof. Charles
S. Richardson of the University of
Maryland.
James A. Soper, chairman of the
educational committee at the institute,
reports an enrolment of 400 students,
not including those now enrolling in
the public speaking course. This is
a gain of more than so students over
last Vnar'G all-fiTna rnoOrI