Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-07-09

best gains during the period betweeI
the June and February calls. theS
banks having an increase in deposit
of $4,26l ,S70.97. All but two of tn
trust companies reported gains. tn
National Savings 6, Trust heading tn
list. with an increase in deposits sine
February of $3.535l15.5l. The Wash
ington Loan d Trust was next in line
Savings Banks Make Fine Showing.
The savings bank group came mex
in advancing their deposits between
calls these institutions as a whole scor
ing gain of $l426.7S1.l2.
The Washington Mechanics Saving
Bank headed the list with an increaS
IN deposits of over $4,000. Park Saw
ings followed pretty closely with al
advance of 1922 ,9S4.40 and then cam
the United States Savings Bank witt
gain of S206, 606.44
Several other banks in this grou
are shown in the analysis to have mad
substantial gains. Only four saving
banks out of the % In the city failed
reveal increases between the last tw
calls
The gain of almost Sl,500,000 indi
Gates that only small proportion @
savings bank depositors have followe
t1lG QduSSAUuS lOuSC Va tdhulS SANhlS
bank money and putting it into tn
stock market.
National Bank of Deposits Of.
i The national banks as a group di
not fare so well as the others. Min
out OF the Is had lower deposits Of
June 30. Extra heavy Withdrawals a
the end of June pulled their deposit
down temporarily until the group tota
was off over $3,000.O00.
In several local banks this decreas
has already been made up since Jun
80. OF the four national banks report
/ ing gains during the period. the Com
/ mercial National had the largest in
crease and the Liberty National cam
second.
4 Before the call came many nationa
| bank officials predicted decline In de
/ posts because of withdrawal for inter
est and dividend payments and othe
special needs for mid-year funds. Tn
i showing Of the banks as whole, how
j ever, is highly gratifying and the pea
I deposit total for all time indicate
steadv business growth In the city dur
I ing the past year.
i Fleming Elected 10 Directorate.
4 Robert v. Fleming, president of tn
Il Riggs National Bank and the Distric
Bankers Association. has been electe'
to the board of directors Of Investor
of Washington. an investment trus
of the management type. THIS com
pany, organized by group OF local ant
out-of-town men, commenced opera
tons here In February. The ofdcer
and directors include: Newcombe Baker
director, secretary Investors Equit.
Corporation. New York; Frederic A
Delano. chairman of the board, forme
vice governor Federal Reserve Board
Il John r. Dryden, president and direc
Il tor, capitalist: J. S. Flannery, counsel
u McKenney & Flannery: r. v. Fleming
| director, president Riggs National Bank
Edward p. Herman, secretary. Childs
| Jeffries g. Co, Boston: Coleman Jen
nings, director, Riggs National: Charlie
Carroll Morgan. vice president, treasu
rer and director. manager bond depart
ment @. Mp Murphy & Co.: Graysoi
Mp. Murphy director, senior partne
g. MP. Murphy g. Co.; B. w Thoron
auditor, c. Mp Murphy a. Co.: Wins
low B. Van Devanter. vice presiden
and director. manager washington ofiic
Guaranty Co.. and William II. White
IT,, attorney, Cuthell, White, Hotchkis
81 Mills.
Appointed General Agent Here.
Harold D. Kraft has been appointed
general agent here of the State Mutua
Life Assurance Co. of Worcester, Mass
He has already assumed his duties, sue
ceeding ]. A. Mari, who has relinquish
ed the position in order that he ma!
devote more time to his persona
clientele. He had been at the head o
the ONCE for many years and win re
main In the city.
Woman Wins National Honor.
Miss Catherine M Krieg, who wa
recently appointed TO membership OF
the Women's committee of the Ameri
can Institute of Banking, Is one of tn
most energetic young woman banker
in Washington. The national homo
was the second conferred on her In re
cent weeks. the other being awarde,
second prize tn connection with the an
nual essay contest conducted by tn
District Bankers Association. the re
ward for which Is a trip TO the bank
ers' convention. Miss Krieg Is an ac
tive member OF the Bank Womens Gu
of Washington and employed In tn
Riggs National Bank.
Trading Active on Local Board.
The heat seemed TO pep up tradin
on the local Stock Exchange today
both stocks and bonds. Washingto
Gas Light was one Of the feature
closing at 96 after opening at 95T
Mergenthaler sold to the extent OF q
shares at l0024. Sanitary Grocery pr,
ferred made LIS first appearance
some time, selling at 1927 and II
Railway 6 Electric preferred moved
9ss4.
Bank stocks were we'll representa-
Riggs coming out at 535, Second Ns
tion1l at 270, and National Bank
Washington al $40. same as the la
sale. federal-American Co. preferre
i registered l04 Chestnut Farms or,
| ferred i04, and Peoples Drug Stor,
4 preferred i07ia Railway ~ EIectr
1 moved up to 977s at the close
III The varied and quite heavy Dor
trading was around recent levels, u
days largest transaction being WASH
i ington Gas 6s. Series b, with Anacost
H. Potomac r.. n. IS close second.
i Noted In Financial District.
III Thomas w. Brahany. partner
Crane, Paris H. Co. leaves here h
morrow on his vacation for Buffal
where he viii take the boat to Dulut
He will do considerable motoring In Il
West and return 10 Buffalo by boat
III The Federal Security 81 Mortgage G
Il will open its new home at 1922
H street northwest 10 the public tomo
4 row from 10 am. to o pm.
HI The prices OF commodities adyanc
two-fifths of per cent during the we
ended July Z. according TO the Who'll
II sale price index compiled today by d
National Fertilizer Association. II
advance was due largely 10 grains feed
and livestock, certain foods, tankai
ground bone, alcohol, hides and coffs