The Washington times., 1928-03-28
MONTHS LOANS
SHOW BIC
GAIN
By RICHARD HATToN


From the middle of Febru-
ary to the middle of March the
loans and investments OF me1-
her banks in leading cities in
creased by 5000, 600, 900 reflect
ing a growth in the banks
commercial loans, according to
a summary of general businass
and financial conditions based
on statistics for the months of
February and March as con-
tanned in the Forthcoming is
sue Of the Federal Reserve
Bulletin.
The banks loans on securities and
investments showed little change for
the period.
The volume of reserve bank cred
1t outstanding increased somewhat
from February to March, chiefly in
consequence of increased borrow
ings by member banks, which in
part reflected further Withdrawals
of gold for export.
During the four weeks ending
March 81 conditions in tbs money
market were firmer; the rate en-
prime commercial paper increased
from 4 to Az per cent, and there
were advances in time rates on Sc
curity loans.
Production and distribution Of
commodities increased further in
February. while wholesale c1mmod.
ity prices remained practically I'M
changed. Commercial loans OF
member banks showed a larger
increase in February and the first
half of March than at the same
season in other recent years
Officers Elected
The following officers have been
elected by the Bank Women's Club
OF Washington to serve for the year:
Lois A. White, Federal-American Ma
tiOnaI Bank. president; Mary j. Win
free, Continental Trust Company,
vice president; Catherine M. Krieg,
Riggs National Bank, recording sec.
rotary; Esther Lau, Riggs National
Bank. corresponding secretary; Mil
bred Woodcock, American Security
and Trust Company, treasurer, ana
Mabel ". Royce, Washington Loan
AAu 40SA COMPANY AAASS0A Ae-AAs
The following were selected to
serve on the board of governors for
the year: Harriet M. Barrett, Riggs
National Bank, Judith M. Fishburn,
Commercial National Bank, Rose L..
Royce, Washington Loan and Trust
Company, and Alice Whitton, First
National Bank of Alexandra, Va.
Mrs. Helen Casey Hulse, formerly
with the Federal American National
Bank, was elected to membership,
bringing the total number of mem
bers to 81.
A meeting OF stockholders OF the
Great National Insurance Company
has been called by President Joseph
A. Burkhart for Friday evening at
o'clock for the purpose of discuss.
ing the question of increasing The
capital of the company from $780,
900 to $1,000,oO
A proposition win. also, be con-
sfdered to reduce the par value from
$50 to SO per share. Notice of the
meeting is signed by President Burk.
hart and the following trustees:
Spencer B. Curry. j. A. Councillor,
Wade Fl. Cooper. Charles A. Gold
smith, Charles w. Hyde, Frederick
n. Zihlman, Eli "A. Helmick. l..
Theunissen. J. Leo Kolb. Harry
wardman and Daniel G. Davis.
Replies received by the Central
Union Trust Company of New
York to a QUESTIONABLE addressed
to banks in all important centers
throughout the country reveal that,
generally speaking. business condi-
tions are not so good as last year
but there are encouraging features.
One of these is the improvement in
agriculture in several sections and
another, the fact that prices are
holding fairly well. The employ
ment situation is characterized as
troublesome and merchandising is
not uniformly good, with ten
dency toward increased slowness in
the collection of trade debts.
Baltimore, the first industrial and
commercial city in the United
States to take a census of it's un-
employed, finds that only 1913 OF
its citizens, male and female, are
actually out of employment. Balti.
more's population is $4,000, and
the number of it's people gainfully
employed is approximately 1000,
about 100, 900 of whom are engaged
in the manufacturing industries.
Fire Insurance
During the last eight years for
which figures are available, the
underwriting dollar of the large
stock fire insurance companies do.
ing business in the United States,
has been insufficient to cover
losses paid to the public, general
expenses of operation and taxes,
by more than one hundred million
dollars.
These facts were made public by
Ernest Sturm, chairman of the
board Of directors of the Contin
entail Insurance Company. following
an examination by the corporation
statistical department Of the bust
ness done by a group of about 800
leading stock fire insurance com
panies.