The Washington times., 1928-03-07
LOCAL BANKS To
REPORT GAIN
By RICHARD HATTON

T. While the Comptroller Of the Cur
ifency sprang a surprise upon Wash
flhgton banks yesterday in asking
for q statement Of condition as OF
February 80, the institutions were
ready 60 make their returns accord.
ing to the law, and in some cases
figures were Immediately available
although no action by the Treasury
Department was expected until near
the end of March. BY issuing the
call as of February % the Comp
troller shortened the interval since
the last call to an extent which
has not occurred in several years.
Considerable interest has been
manifest in banking circles in re-
gard to what would be shown at
the next call" and this interest
Immediately burst into fiame Wnen
the word was flashed yesterday
that the call had come. Complete
figures are not yet available' but
enough information has been OBJ
tanned to indicate that in virtually
ali cases local banking institutions
win report a gain over the amounts
reported on December 81, 1871.
Riggs National Bank will report
gain az 50 ,261, III over the figures
OF the last call, while the National
Metropolitan Bank will show an
increase Of 1885,, 1863 and the Ameri.
can Security and Trust Co., gain
OF $1.O77. 891. The District Ma
Ai0nal Bank is among the leaders
with q gain of 81, 153,196 the
National Bank of Washington VIII
report an increase Of $5cO. 600.
Back From Palm. Beach
President Ezra Gould of the Wash
ington Mechanics Savings Bank has
returned from a months vacation
at Palm Beach, Fla.
According to the Magazine OF WAN
Street, 1t is now a question WnetneI
the high prices prevailing have NOT
sufficiently discounted prospects o.
tcontinued cheap money. Business,
aays the magazine, lis showing signs
az recovery and will undoubtedly
increase its requirements for credlt.
At the same time, the loss in gold
exports has reached sufficient pro-
portions to have narrowed the creolt
base. IL business is to secure plen"
tifuI funds, the Federal reserve
Board viii either be compelled 70
embark on q policy Of credit initiation
or take steps to withdraw credit on
Z partial scale from the securities
markets. The latter seems the more
likely possibility. In that event,
money would not be so plentiful kor
market operations and the ERECT
- - IN q.
sues.
"From the Ionger-range viewpoint.
there are no indications Of credit
stringency and 1t would seem that
money VA remain cheap for Pc
Rod Of years. Thus the general
outlook for the securities markets
continues favorable though. or
course, business conditions will have
In be considered as a factor or
equal importance.
'In any case, the market is not
likely to lose its newer charac-
teristic of independent movements.
Securities viii move accordingly,
regardless of any general trend
which might be established. Hence,
from the investors viewpoint, 1t
remains highly essential that they
limit their commitments to, first,
securities representing industries en-
joying both present and prospective
favorable trade conditions; and, Sec
ond, to those representing com.
panies in strong earnings and
financial position"
Bank Debate
The following committee win have
charge Of the interchapter debate
to be held in the quarters Of the
Washington chapter, American In
stitute OF Banking. on March 16;
James A. Soper. cashier Lincoln
National Bank; T. Hunton Leith,
Security Savings and Commercial
Bank; Miss Lois A. White, Fed
eral.American National Bank; Miss
Helena D. Reed, manager Of per-
sonnet, Lincoln National Bank, and
Frank NJ. Perley, American Sc
curity and Trust Company.