Evening star., 1928-01-09
's7,297,6D7 SLUMP
IN DEPOSITS HERE
But Total Is Above Core.
spond:::s Date Last Year,
Tabulation Shows.
BY EDWARD c. STONE.


spending figures brought out in III
cali Of October 10. 1927. according t.
complete returns announced today. fol
lowing the controllers call sent on
7 Wednesday.
EefNTc the cali was issued il wa!
generally expected that there woul,
he a considerable decline over the Oc
toher report.
Tax Withdrawals were tho chief rea
sons assigned for the decrease. Tht
| intangible tax was given the larger
| share of the blame for the situation
| While the last income tax insta!lment
! figures prominently in cutting cowr
/ check accounts. About ST. .000, 900 alsc
| was taken from the banks in the
/ form OF Christmas savings checks
although it is estimated that more
! Than IS per cent OF this sum already
has Sone back on the books.
I Some Interesting Comparisons.
The national banks suffered The
heaviest declines in their deposits
showing ii decrease of S4S99. $50 !.
/ below the October 10 figures E.igh
! Of these hanks revealed falln. of
/ IN deposits against i've which ha,
+ larger deposits.
In the savings bank tahulation II
reported declines, while made gains
! The decrease fer the 10 banks
amounted to Sl.7l3.707.95. The larses
/ gam was made hy the Prudential
while the Departmental Bank ran sec
ond and the Bank of Brightwood
third.
The trust companies had $l.lS4.
1915 drop from the October call. O
the seven companies, however. onl,
three had decreases, while the othe,
four had gains. The largest gain wa.
| made by the Washington Loan &
| Trust. which was SS59.7ll.l4 ahead o
. Its 7lCures IN October. The Nationa
/ Savings n Trust also showed an ad
| vance during the period Of more thar
] $4,000
Total Deposits of Each Group.
The national bank group had tota
| deposits on December 81 of Sl34,l6S,
1860. compared with Sl3S,56s,752 =;
on October 10, the savings hank de
| posits totaled 356i3.52S.54. asains,
| SS1 1868 in October. and the
trust companies total deposits were
S.s,9So,1 i6.3+ al the end of the year
IN comparison with $Sl.lG4,Ss95a back
in October
Deposits of all three groups on De
cember 81 were S249, 9,7e3.27l.53. agains,
S-o1 .o6o.StS.15 on October 10
Local bankers assert that if a call
were issued today il would find nearly
all of this money hack on deposit.
deposits were very heavy during the
first week of January. several banks
having the largest daily deposits that
they ever recorded.
Banks Gain 10000, 900 i'm Year.
Comparison Of the deposits in local
hanks December 81. 1927. and on the
same date In 1926 show that these in.
stl'uuons nave made substantial
progress In the l2-month period. They
nave nane and held gain Of
81 600 900.
On December 81. 1926. the natiopa,
bank group reported deposits pf
$l26, 6,0s9.447.99. the savings hank rronn
had on deposit S34.i9e.1a7.3o. while ,be
must companies deposits totaled
S1s.sSl 1925. making a grand fo,al
ior all the hanks of $23s,gf7.ss454
! RACING this total beside the Deoen,ber
81 1871. figure of $349.1s3,a7i.5e. and
tne strides made by the local ins,it,J.
| lions are appar rent.
IodaYs bank analysis shows a gal,
OF about $4,000, 900 oyet the ro.,,rrs
made after the call of March 20 1907
pnt the figures are not up tn the total
deposits on June 80. 1927. bv nm.
proXImately $4,000 900. There was a
gam between the calls Of March and
June Of sI2.1si.703.s7: the March
nSares, Ike the December :l denosits
~ ving been hard hit by tax with.
dfawals. WIN
Treasury Announces New ussue
Secretary Mellon announces ,ha,
holders Of the Al. per cent ,hirs 10 a.
erty loan bonds will he asked on IT,
uary Is 10 accept in their stead Trsas
oFt notes bearing 3ix per cent inter.
est The notes will he of snecia,
issue. solely for the redemn,lon of
these bonds and no subscriptions viii
~ accepted The Liberties mature
on september -. To commence a
hoiders In view of the prernIuv a,
sIhTn the bonds are now selling. the
IIeahnry VIII accept them as Of Jau,,.
a!y - with Interest In fun 10 March
-. The new notes will mature on
December -. 1882, and viii be cali
able in 1880. N''''
Local Securities Steady To-day
securities were steady on the Wash.
ns ,oh st"ck Exchs nge when the
| tIsnihg opened today. Federal
an i,ahK stock sold At 33s. three
rn'n1S r'. aboVe the last sale. Mercha n, ;
t,aIln ,.a. rust changed hands at ISL
= rr@hheh insurance Go. came mn, a,
"a, I>anston al IG311. National Me-,
gage Investment preferred a, "a.
1917 p'is''en a'
many traders preferred bonds. RAN
*ay d. Electric General cs sold a,
Ip1 = ana the same corporations A.
al y! u Capital Traction S. moyed
81 I0is Chevy Chase Club siLs regis
/ tered $4,000 sale At 1918. while !
vi e10s Washington Gas &. SerIes A
soid at 1854 and a 500 bond OF ,he
same issue ~ i0G
Other Financial Notes.
The sa nitary Grocery 20. Inc re-
| ports sales for 1872? amounting I.
1f,9iS.j37. az compared with SIS.
! 3bl .s1e@i for 1896. or an Increase oi
lI.s3 per cent
MANY ba nkE in Washington are due
/ 10 hoid their annual stoekholders'
/ meetings tDniDrfow no far as can -
/ ifafnsd in advance. there will he vers
few changes IN directoraieg for thf
coming year
III" monthly bulletin Of The Dsr,rlci
isankers' Associaiion appeared today
II caiis special attention 10 the nea,
meeting 0f The association which VII
/ be held neat Monday evening ut tht
! Neg Willard. buffet lunch teinp
sdd@6 40 the 1s3at business routine
an effort is being inade 10 bring Oui
! "a te1ord Aid@tnteF attendance
s--a-r~--=---~~~
BALDWIN ORDERS GAIN.
hEW YORK. January IN
! Orders received by Baldwin l.ocofio
/ tlaEN 81. L