Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-08-19
IMPORTANT GAINS MADE BY
OLD-TIME NATIONAL BANKS
Comparison of capitalization and Book
Values With Figures 80 Years Ago Is
Given-Treasury Transfers.

profits of s755,52s. and book value OF
s31A.22.
Farmers and Mechanics National had
capital, surplus and profits December |
1893, OF s476.334. made 1878 per cent
on capital and ass per cent on capital
surplus and profits
June 30, 1928. the same bank had
capital. surplus and profits OF sS02, 500
| The book value was s31949
December 1, 1898 the National Cap
| ital had capital, surplus and profits
of $285,425, on which it earned ITO
per cent: on capital alone. $40 per
cent The book value was s148.40 a
share
June 80. 1928. the same bank had
surplus, capital and profits of S491 1874,
and book value per share of SEAS 90
| December |. 1898. the Riggs National
had surplus. capital and profit of
$658,594, OH which 1t earned 37.39 per
| cent. on capital alone 2877 per cent
The book value per share was $155.60
June 80, 1928, the same bank showed
/ capital. surplus and profits Of SIS ,081 ,935 !;
book value was $203.2S.
| Bank of Washington. on December /,
| 1898. had combined capital. surplus and
| profits of S499.7l6. on which 1t earned
$50 per cent, while on capital alone 1t
earned 1928 per cent. Book value,
| S256.10.
June 3, 1928. the same bank had
combined capital. surplus and profits
of $2,302,592. and book value Of
| $2l929 share
Second National figures show capital,
surplus and profits as Of December /.
1898. 1928. 499. on which IT made 4.63
per cent, while on capital alone 1t made
e al
June 80. 1928. the same bank had
and book value of sI74.92 a share.
Thirty years ago the Lincoln Ma
tional had capital, surplus and profits
of s240.731. on which it made 3.38 per
cent on capital and 28l per cent on
capital, surplus and profits. Book
value, $117.70.
! June 80, 1929. the same bank had
81 .025,244 capital surplus and profits
with book value OF s256.31.
| Other statistics are of equal interest
| System Transfers Millions.
| Millions of dollars daily is transferred
| between the banks of the country over
| the leased wires Of the Federal Reserve
| system. Almost instantaneouSly bank
| in one part Of the country can transfer
IuItQd VI LIE EISQlb VI Udf1k
hundreds of miles away Although the
general public hardly knows of its en-
| istence. the leased wire system Of the
Federal Reserve would make IL pos
sible for a hank TO Withstand shocks
which would have meant serious trouble
| years ago wl1cr slower methods OF
communication prevented prompt re-
| course to out-of-town resources.
Nowadays when bank in New York
wants to transfer funds to Richmond,
| for instance. it notifies the Federal Re-
serve Bank of New York that 1t wishes
10 make the transfer The Federal Re-
serve Bank of New York over the leased
wire to Richmond. passing through the
| Federal Reserve Board at Washington.
notifies the Federal Reserve Bank at
Richmond to credit the bank there
with the sum named and charge TO its
account. Hundreds of transfers of this
character are handled daily and at the
end of the day The accounts of the
various Federal Reserve banks With
settlement fund OF the Federal Reserve
system.
Workers Buy Insurance.
More light on the sources of the big
life insurance sales for 1927 comes from
| the Phoenix Mutual Life. which has
Just finished its third biennial study Of
the life insurance buyer.
Bankers, brokers or other persons en-
gagged in finance and insurance as part
rer, manager or salesman bought one
out of every l5ia policies sold by the
country in 1927. Statesmen. generally.
acquired out of every II policies
issued One out of each six policies
issued went TO an executive In a manu-
featuring or commercial enterprise.
once workers were the most numer-
Gus buyers of all. for they took one out
OF every four policies issued.
The automobile salesman was the
least active buyer in the salesman
group. for he bought only six-tsnths Of
per cent of the issued policies, in con-
trast 10 the salesman for the manu-
featuring enterprise who acquired four
times as many Statesmen for CONNER
cial houses were still bigger buyers, for
they took 3.5 per cent of the policies
Farmers, dairynen, nurSeryrnen and
horticulturists bought "A per cent of
the total number.
Professional people. with lawyers and
doctors in largest number. constituted
10 per cept OF the buyers while the
serni-professionsl group, with a large
number of teachers. made up another
per cent