Evening star., 1928-06-01

600 on April Is to
s72.27o,ooo on May EJ MeQusde.
Is and reduced
the ratio q. reserves TO note and de-
nosit uabili les combined from 1858 per
cent at the middle Of last month to
$3.50 per cent at the middle OF May.
Abundant Bank Credit Reported.
Reserve bank credit CONTINUES In
larger amount that at this time iasI
veax. On May Is. 1927. rediscounts for
member banks held by the Federal Re-
serve Bank of Richmond totaled ST.
CIT 600. but on May Is of this year,
rediscounts held by the Richmond bank
amounted TO S43.593. 900. an increase OF
approximately 56 per cent. The ctrcula-
tion of Federal reserve notes oecilneo
during the year. however, falling from
se6 sri coo on May Is last year TO ST.
os4 600 on May Is this year, a decrease
of Il per cent.
ssNember bank reserve deposits. on
the other hand, rose from S6I,76I .OO0
last year 10 SIS, $4,000 this year. IotaI
earning assets Of the Richmond oank
rose from SAB $50 600 at the middle OF
Mar a year ago 70 s65.O59,OOO on the
corresponding date this year, -.
saTf1e greater demand for cTedit tn4s
wear is reflected in a decrease In the
Richnond banks cash reserves from
eo7 fTf 600 on May Is, 1927, to $72,zIo.-
00o on May IS, 1923. and IN oeclne
t,ev-eey1 the game date In the ratio OF
reserves TO note and deposit haoliles
combined from 7o.76 per cent TO 5o-oO
per cent.
Fewer Building Permits Issued.
sR,,ildinz operations as reflected IN
eatT permits issued declined IN April
this year Ia comparison with Aprh'
1927. but very large amount OF m
6ugtvsaI construction located oulslue
city limits or IN small towns Drougn'
the total Of construction Work pro-
xSSe6 for In Aprif far above last year
figures. a.
the present situation. the most I'M
r,ortsrt ig the iateness OF the year :
frrn DEVELOPMENT. Much rain and
exceptionally cold weather during the
late Winter and Spring delayed plant
inv and retarded termination Of reed
and Growth Of plants go
wholesale and retail trade wa
smaller in April this year than last
due probably TO the occurrence Of one
less business day"
Record Attendance Assured.
II was announced at the once Of Law
renee A. Slaughter. chairman Of tnt
TRANSFORMATION committee for tbs
bankers convention, that more thar
22S reservations had already been re-
eeived This means the largest attend
snce get.
Y j Nc0uade. general convention
chairman, calls attention 70 the fac
xfas. tomorrow is the very last day fol
making reservations. Many bankerI
ere planning TO take the trip who have
not yet sent IN their reservation re.
guests. The COMMITTEES must know q
once the exact number going. IL as.
should be kept in mind that the Is
the capacity Of the hotel has beer
Thomas w. Brshsny, chairman O
the entertainment committee. was Dacl
from New York today wei pleased wiz
the success In obtaining talent Tor 10
Nfontsuk event The Broadway PRO
feassonzi talent secured viii be kept
dark secret.
Saturday Night Closing Arranged.
TIE Washington banks which cIoset
On Saturday nights last Summer VII
x.srt the same pTogram again this year
Yenazsr on this schedule during the res
q June, Sysy, August and Septenber
Eouse Of tie banks are planning 70 TAX
srdsYsduz1 action ard not reopen oi
Saturday rights neZt Fal, The tnsst
tztsosas entering into the closing agree
s9ens aaeiu1e:
Lsnooln National, Franklin National
Esnk Of Commerce IL EaysngS, Eec1rft
GSs4nxs e. Commercial District IA
ssozaa. Nanrn street branch: America
Security G Tr1e$ Co, central az
SoszSnEest branches: Seyeptn Stree
Szyangs. riggs National Seventh stree
branch: Mount vernon Savings, Wash
srgto1 Loan ~ TEaSs Co, and IN
mssnyazl Bank ~ Washington. tn
United States Savings ESgk viii put IN
rev e1ossfzS sche1ule IN operstton ~
ggne 70 ard continue Il until 6eps<mD>
IS
Vice President Barr u the internz
aSeKzs EXCHANGE Bank announced toda
4aas fsas restitution viii z3so 50sn IN
Sumner closing group, beginning 70
FaoYoy evening,
Riggs Rank gtack CIinbs 10 szs.
Essg9s Rational EsKk stIck seoged
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