Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-04-15
BANK LOANS GAIN
IN 1928 is SHOWN
Deposits Also increased, &C.
cording to Federal Reserve
Board Survey.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Loans and investments of all banks
n the United States increased during
1928 by about $4,000, 600 600. or 81 per
cent. to total of SIS, 266, 600 900, COM
pllation by the Federal Reserve Board
shows. Increase was greater than that
which took place in 1925, but smaller
than in 1927, 1925 and 1924.
Growth in bank credit outstanding
vas at the rate of AZ per cent tor
,enber banks of the Federal Reserve
stem and SIS per cent for non-mem-
Ter banks for the year. Increase Tor
ne wear was principally in loans, as
Investments showed comparatively Little
mango. ..
Increased $685., 5000 during 1873,
which was considerably larger IMAM tne
,crease Of $3.50 ,000,0 In total pank
epositS which took place In 1927. De-
,>osits of all banks at the end OF 1928
,otaled $56, 766, 900 900, compared with
so. COG. 900 900 at end OF 1927.
Rediscounts and bills payable at the
c.,d of 1928 for all banks were $1,ol2,-
t.1). 600. against 1894, 100000 at the END
: 1927. Increase in this total by men,
,,sr banks was $499 900 900 in the year,
,,hile non-member bank totals snow
IN increase of $l20,o0o,ooO.
Clearings Stin Above Year Ago.
Bank clearings in Washington for the
~.eek ending April IL totaled $Si'uoS,-
100, which is a gain OF S3 per cent over
ne same period in 1928. Clearmgs,
However. we're below the previous week.
:, hen the total was $34,372, 900.
Clearings for the country as a Wnue
we're also below the record OF the pre-
,;ous week, but. like the washington
neck payments, were ahead OF uns
s.me week last year. In Richmond
aar,ngs amounted to SAC, 1881 900,
:ainst $44, $4,000 a year ago. Clear
us In the Virginia capital were also
) ghtly under the previous week.
q. Baltimore reported clearings OF $lOS.-
$4,000. These figures compared with
q better record Of $122,O52, 600 In the
,~evious week, but at the same time
we're 12.5 per cent ahead Of the CORE
s.,cnding period in 1928.
Gain Noted in Bank Credit.
In a monthly review issued by the
-,deral Reserve Board today q conSl0-
liable growth in the volume OF bank
edit is noted, chiefly because OF the
g,asonal demand from trade and IN
:,lstry, Security loans by banks have
;':own a small increase and bank IN
.ztments have declined slightly.
Security loans increased IN several
>stricts, including Chicago. Boston,
'liladelphia, Cleveland and San Fran
SEQ, while in st. Louis. Kansas CITY
II Dallas they declined. Investment
,ldinrs of reporting banks in all the
-tricts declined except Boston, Rich
-1nd and Dallas, while commercial
ms increased in all districts except
~ston.
Deamnd for funds to finance the trad
;14 in securities in the New York
-arket has continued large, but the
lily increase in brokers' loans has been
= loans By lenders other than banks.
lis class Of loans showed an increase
: about SITS, 100000 for the period Of
zen weeks ending March 81, while
rect loans by banks, including both
w York banks and other banks, de-
,ined by nearly $500, 200, 900.
The liquidation Of brokers loans by
= nks since the boards statement Of
:. 'nruary Z indicates an effort by the
inks to comply with the desire Of the
ard to restrain the diversion Of bank
edit into speculative channels. This
-uidation has been accompanied by
further rise in money rates, which
5 attracted funds from corporations
I'd individuals in this country and
>road.
The volume Of reserve bank credit
tstanding showed decline Of about
1000, 900 during the seven-week period
-lding March ~. due in part to gold
.-iports, the review says.
.. First Trading in New Listing.
First trading in the recently listed
real Estate Mortgage and Guaranty
-eferred stock took place on the Wash
7gton Stock Exchange today with a
!, ock Of 90 shares changing hands at
"a The market closed with 7X bid
and 73z asked.
The largest transaction on the board
r'as a 100-share block Of Mergenthaler
linotype at 1919. Later in the session
} shares sold at 1918. Riggs National
->ank stock again sold at SIS.
Odd lot sales in Potomac Electric
lower per cent preferred moved at
il3. Washington Railway & Electric
moved at 81 and small lot sale in
'tapital Traction was recorded at 98h.
title & Insurance Co. of Maryland
,mmon came out at 80. Chevy Chase
Dairy preferred sold at 1864.
In the bond division $4,000 Washing
TN Gas IS, series A. came out at 1921,
1000 Railway & Electric IS sold at
~, another 81 900 bond at Sc and
: 1000 Anacostia & Potomac River SIS,
So.
Heard in Financial District.
Peter A. Drury, chairman of the
lard Of the Merchants Bank & Trust
j., is attending his banking business
q new ONCE, on the n1ezzanine floor
erlooking the main lobby, having
,rned his former desk over to the new
resident, Rolfe E. Boiling -
Charles D. Boyer, cashier Of the Fed
= al-American National Bank, returned
few days ago from q two-weeks visit
White Sulphur, w. Va.
President r. Golden Donaldson and
30 other representatives Of the Com
F'ercial National Bank attended the
ederal Reserve Bank stockholders
Getting at Richmond.
Miss Nina M. Bruere, national presi-
;rent of the Association of Bank WoHn-
RI. and assistant secretary of the Cen
al Union Trust Co. of New York, will
idreSS the local club at the dinner
Meeting on April IS. Miss Bruere has
.ade o brilliant record in the banking
r,ofession.
Albion K. Paris, veteran financeer,
Ill address the Columbia Historical
1ciety on the history of the Washing
IN Stock Exchange at its meeting to-
i,l9rrow evening at the Cosmos Club.
Seasonal trade in this territory was
ven q substantial boost by the recent
rot wave, the Richmond Federal Re
rye Bank reported today.