Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-13
WASH|NGTONBAN
DEPOSITS GREATER
Last Call Shows Increase
Amounting to More Than
S5,00O,O 900.
BY EDWARD c. STONE.

and october 4. deposits in Washing
ten banks gained s5,109, 947.73, accord
mig to a compilation completed yester-
day by Audley A. p. Savage, auditor OF
the National Security & Trust Co.
The bank analysis, which appears
elsewhere in The Sunday Star, also
shows that deposits are now within S4,-
642.s45.4 AZ of the all-time high mark for
the District of Columbia. This peak
was reached on the october call year
ago. when deposits totaled $274,232.-
AL 27 Deposits on the date of the call
a few DAYS ago were $3.50 $50 1854.
The reply to Controller Poles call OF
October 4 finds the local banks IN
splendid condition, much better than IN
many other sections OF the country
where quite large declines since the
June call will be announced. All three
groups. national banks, savings banks
and trust companies, reported substan-
tial advances.
The local national banks as group
showed a gain In deposits OF SS.oll,-
6T4.81 since June. Nine of the II ma
tional banks in the District had in
creaSes. Riggs headed the list with
jump OF over sS,ooO,OOo. me oIt ,U.
gains we're generous amounts. the Lin
colin National coming second with $685.
1897 and the National Bank Of WASH
ineton third in the list with $242 ,964.S8.
Savings Bank Deposits Gain.
There are now i6 savings banks IN
Washington. In this group 10 reported
increases in deposits over the last call.
The aggregate amount was $l.159 .69S.6l.
The Mount Vernon Savings Bank had
an increase of s275.122.i7. Next came
the Security Savings & Commercial
with an advance of $3.50, S28.49, the NC
Iachlen Bank with gain OF $780,
74o.51. washington Mechanics with
Sl07.sl467 and the Chevy Chase saw
ings Bank with $10l .257,24.
The trust companies as q group re-
ported gain In deposits since June OF
sI38.574.16. This was divided among
three of the seven reporting banks. The
tabulation shows gain by the Amer
lean Security d Trust Co. OF $780,
620.S7, by the Union Trust Co., OF $685.
563.G0 and by the Continental Trust OF
$l02, 821.30.
AS a group the nationl banks have
the largest deposits among Washing
tonton institutions the total amount on
october 4 being $3.50, 215,772.21. Trust
companies have deposits totaling S84,-
z97 .947 81 and the thrifty people in the
city who have savings accounts now
have. on deposits the sum OF $4O,7o6,-
2f788.
The tabulation indicates healthy
condition IN the business life of the
National Capital. 1t often happens that
banks reporting declines In deposits
between calls make up the full amount
of the decrease in week or two. Very
likely this has happened since October
4. The call came at an excellent time
and found the banks ready to turn in
some of their very best prosperity
figures.
Rapid Incdease in Phones.
Telephones in Washington are In
creasing rapidly. q net gain Of 2,347
having been added to the system last
month. Today washington is served
by 156,402,. or 6,042 more than there
were In service January !. In making
this net gain 10 was necessary TO install
90, SS2 telephones. while 23840 were dis
connected, officials Of the company
state. In 90 years Washington tele-
homes have increased 1874 per cent.
The increase Of 2.347 telephones in
September is the highest net gain made
in any single month. The next highest
increase in q similar period was in
December, 1927, when 2,279 telephones
we're added to the local system.
To keep pace with the rapid tele-
necessitates the constant placing of adj
ditional facilities. Such facilities, in
GLIDING equipment and outside plant
now being installed will involve ex-
penditures of more that $4,000.0O0.
These facilities which are necessary
to meet the demands of the public for
telephone service viii serve the numer-
Gus office buildings, apartments, stores
and residences now being erected
throughout Washington.
Exchange Honors Charles ]. Bell.
The washington Stock Exchange has
adopted special resolutions on the death
of Charles J. Bell chairman OF the
board of directors Of the American
Security & Trust Co. Albion K. Par
ris, chairman of the resolutions COM
nittee and a personal friend Of Mr..
Bell for great many years, prepared
the eulogistic statement.
The resolutions mention the fact that
Mr.. Bell was elected to the exchange
on January 9, 1883, and was member
continuously for nearly Al years. He
was elected and served as president,
but his greatest service to the exchange
was as a member Of the board of gov
enors on which he served for several
years.
The resolutions state that he was
regular attendant at the sessions and
that This amiability, courtesy and broad
sympathies endeared him to us and q
host of our fellow citizens
Hamilton to Address Bond Men.
Lawrence M. Proctor, secretary of the
Washington Bond Club, announced
yesterday that William Peter Hamilton,
editor of the Wall Street Journal, will
address the club at its opening lunch
con of the season next Thursday noon.
The luncheon will be held at the Carl
ton Hotel.
Members of the club are eagerly
awaiting this meeting. Mr.. Hamilton
is an author as well as an editor. He
has written many financial books per-
haps the best known being the Stock
Market Barometer" In his address
here this week he will take timely
!, topic. probably discussing both the
stock and bond markets during his re-
marks. Secretary Proctor has been in
communication with several other fin
d, ancierS for later attractions At the
o. November meeting F. S. Burroughs of
New York will speak. He is considered
Julius Klein of the Department of
Commerce will probably address the
{ club.
Franklin H. Ellis of e. H. Rollins
e. Sons is president of the club this
wear The vice president is Sidney
Thomas of Gillet g. Co. and MIR. Proctor
of Alexander Brown Il Co. is treasurer
49, ps we'll as secretary. w. w. Mackall,
Stein BIOS. g. Boyce, and T. Baker
Robinson of Y. e. Booker 81 Co. are
members Of the executive committee
;, The best year yet, is what the ot1cers
promise.
~ Seaboard Air Line Rights.