Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-04-03


Father expected a 81 y
falling off. a.
The total deposits ROllin A. wilbur.
in local banks re-
ported on this latest call by Controller
John w. Pole shows a substantial gain
over the call issued on February 28,
1928, the first call issued last year:
Between the calls of october 5 and
December 81 last year there was 6e-
cline in deposits OF $8939, ~; 1ns
increase of more than $4,UOU,Uuu Oh
this last call shows that nearly nail
of this loss has now been regained.
National Banks Lead Groups.
The tabulation, which appears else
where in today'S financial section, SHOWS
that the national banks had the largest
increase in deposits OF any OF the three
groups. The gain amounted 10 $z,z4I,-
las .46 over the December 81 fgureS.
Seven national banks reported increases
and five had lighter deposits.
In the advances an increase IN the
Riggs Nationals deposits Of $2,467,-
826.76 played the largest part. The Co
lumbia National came second IN tne
group with gain Of 1927, 653.44, foi-
lowed by the Federal-American, with
Capitol was next.
Today's analysis shows that the saw
ings bank group made the second
largest gain In deposits between the
december and March calls, an advance
of $962, 636.02. Seventeen OF the ~
savings banks in the city reported larger
deposits. The largest increase was
made by the Park Savings Bank, with
the Mount Vernon Savings Bank
Mechanics was third in the list, with
the Northeast Savings Bank fourth and
the Security Savings & Commercial
next.
The trust companies took third place
In the list as a group, making gam
in deposits of $500, 1884. Five OF the
seven trust companies had larger de-
posts than on December 81. The
American Security & Trust Co. had
the largest gain, with the Merchants
Bank g. Trust Co. second and the
washington Loan & Trust very close
third.
Comparison of Last Two Calls.
The national banks reported a group
total in deposits of $140,837, 530.45, in
comparison with $138, $50, $500 follow
ing the call of December 81.
The savings banks had deposits Of
$40, los, 76491 in their vaults on March
81 as against $50. 143, 1899.
The trust companies reported total
gain of $87, 256, $3.50, while deposits in
this group on December 81 totaled
$50, 45O, 098.86.
Total deposits in all banks In Wash
ington on March ~, 1929, amounted to
$265, 200, 277.86, against the deposit total
on December 81, 1928, of 1854, 1888, 611.74.
The call of March q was little later
than the first call of the year usually
comes. In recent years 1t has come
more often the latter part of February
or quite early in March. This time the
call came after heavy Withdrawals for
tax payments and local bankers are
naturally much pleased with the highly
favorable results.
Wilbur Optimistic on Outlook.
Optimism over the outlook for gen.
eral business, with reservation or two,
was expressed by Rollin A. Wilbur,
president Of the Investment Bankers
Association of America, before the
Southern Ohio Investment Bankers.
lone reservation would make ap-
plies to the possibility Of overextension
in the use Of credit for speculative pur-
poses" he said. II do not think such
over.extension probable, but it exists as
a possibility, if we everyday our pros
perity. Good economics require that
we use sound Judgment in speculation
and investment, that we confine our |
capital commitments to enterprises !
shown by careful investigation to be
sound and constructive - enterprises |
which can be expected to increase COM |
munity buying power and, consequently. |
to raise the Nations standard of
living"
Mr.. wilbur said he could not recall |
In his experience so long a period Of
IrG Sell,
except during the abnormal World War
period.
FederaI-American Co. Reports.
The Federal-American Co., which has
both preferred and common stock list
ed on the Washington Stock Exchange,
has sent condensed financial state
ment as of March 80, 1929, to stock
holders. Among other items the COM
pany reports total resources Of $l.7S5,-
866, including notes receivable, mort
gage loans and other investments
amounting to 81. 1872, 6e3.
The company's present liabilities in
clude accrued interest and accounts
payable, $1O,140; accmrued taxes, ST.
90l; dividends payable, $18, 800. and
deposits awaiting investment, SHOOTS.
The company has 100000 in prefer
red stock outstanding. common stock
earned surplus of $206, 479, and an nn-
earned discount and general reserve of
$1l8.069.
The company places its total net
worth and reserves at 1855, 1853. and
its total liabilities, net worth and re-
serves, at $i,7s5,886.
Local Securities Unchanged.
Quotations on the Washington stock
Exchange were little changed from yes
terday's prices but the market was more
active. The largest volume Of trading
was In Capital Traction, which opened
with 10 shares selling at 1894. After
call 10 and 40 share lots moved at
Potomac Electric Power s per cent
preferred opened at 1i2 and closed at
lli3z for two shares. Twenty shares
Of the 5ik per cent stock came out at
1O7sa. A sale Of 10 shares Of wash
ingtcn Gas Light was recorded at lis.
Thirty shares of Railway q Electric
preferred changed hands at 97H and
10 more at 971s.
Riggs National appeared on the
board, 10 shares selling ut 672 and 5 at
SIS. A single share Of American Se-
curity d Trustssold at 463. Five shares
of Detrict National Securities preferred
moved at 1917, is Of Federal-American
Co. preferred at 102 and 5 OF Merchants
Transfer b Storage preferred at Ill.
In the bond division $1,000 Potomac
Electric consolidated IS sold at l01;
$4,000 Washington Gas IS, series B, reg
istered 1045z; $1,000 Capital Traction
IS changed hands at 1914, and the mar
ket closed with 81 900 Railway q Elec-
trio As selling at 861k.
The only stocks on the list now selling
ex dividend are Riggs, American Sc
curly, Union Trust, Federal Storage
and American Telephone, great
change from last week.