Evening star., 1928-12-31

3 sarding the increase in bank deposits
during the 10 months. The last call o1
- the Controller of the Currency fo- the
condition of all banks in Washington
was dated October 3.
,n On that date the local banks reported
total deposits amounting to $274,232,-
@ i331.27 against a total Of S264,578,875.21
/, on June 80. the date of the last previous
,e call. and smashing all former records
for deposits in the banks in this city.
+'" Some Amazing Bank Figures.
Further comparative figures reveal an
amazing increase during the present
year of more than $24,o00,000 over the
call issued on the last day of 1927
Since December 81, 1927, this increase
has been steady. The first call in 1928
came on February % and brought to
light a gain of Sl0,554, 1860 over the
December 81, 1927, call, while the call
of June 30. 1928, showed an increase
over the February figures Of $4,26l,-
S7097.
In these splendid advances all three
banking groups shared in the prosperity,
national banks, savings banks and trust
companies. But while bank deposits
have revealed such gratifying increases
in the past year, bank officials say they
have encountered some disappointing
8 handicaps in making profits. The main
drawback has been the high rediScount
prevailing at the Richmond Federal Re-
serve Bank during most of the year.
This rate has been so high that borrow
. ing from Richmond has left the banks
: seeking such loans pretty narrow
margin of profit.
- Bankers do not expect quite such a
good showing following the call to come
from Controller Poles Office in a few
DAYS. Yet most of the banks expect to
report some gain over the surprising
figures of the october call. And the
many extra dividends declared during
the past few days indicate that profits
have been well maintained in this last
quarter.
once again the Christmas savings
: clubs have played an important role in
the banks of Washington. The banks
distributed between $4,000 and
'Se,000,O00 in Christmas savings Decem-
3ber l.. Much of this commendable sum
was returned to the banks in permanent
savings, far more was turned over to
the merchants during the yuletide shop
iping, while the remainder was used to
meet instalment payments and in
countless other ways.
Thrift Spreads Over Capital
This Christmas fund was saved by
S3.178 Washington residents. The num-
ber represented gain of per cent in
,gclub depositors over 1927 and OF IL per
cent in the amount subscribed, COM
.pared with 1927. A glance back over
the last four years shows the Christmas
savings club idea has spread like wild
fire all over the Capital. The Nation,
as a whole. saved $550,000,000 in this
way In 1923.
OF equal interest are the figures
showing the number of checks passing
through the Washington Clearing
House Association in 1928. These fig
cures are supposed to indicate in more
9or less accurate manner the business
5pulse of the community.
Bank clearings in this city this year
twill doubtless eclipse all former records,
.fand that by a generous margin. Octo-
+ioer was the banner month, all preVi-
sous monthly records in the history OF
1.-THE Washington Clearing House being
smashed to splinters. Judging by the
9clearings for the first II months OF
1.-The present year, clearings for the full
fyear should make long trail into new
high ground.
~. At this writing the December sum-
finarieS have not yet been announced
sbut the clearing house totals for the
first IL months of 1923, compared with
those Of the corresponding period in
1927, are as follows: