Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-07-13
LOCAL BANK CALL
SHOWS S5,1SO,OD5
GAIN IN DEPOSITS
Official TabuIation Reveals
Increase in All Three Groups
Since March.
NATIONAL BANKS ADDED
MOST FUNDS TO BOOKS
Information for Controller Pole In.
dicates Greater Efforts Here
Toward Thrift.
BY EDWARD C. STONE.

condition of all the banks in Washing
ton on June 80, 1880, the date of Con-
troller Poles recent call, reveals that
total deposits were SIS, ,005.95 larger
than on the March 81 call.
According to Audley A. P. Savage,
auditor of the National Savings & Trust
Co., deposits on June 80 were $685.
050,926.8s, in comparison with $685.
87o,S20.93 on March 81, proving the
above increase of more than $4,000, 900.
Comparison with deposits a year ago
on the same date is also interesting.
Total deposits in local banks on June
80. 1929. were $264,479, 938.05, or only
$2,429,011.17 more than they are now,
in spite of the present unsatisfactory
business conditions and the low stock
market. Hi.
A comparison in deposits on March
81, 1929, and March 81, 1880, or three
months ago, reveals decrease on March
comparison of deposits on March 81,
1929, and the call of June 80, this
year, shows a decrease of but 6,149,-
350.98. Thus it is important to note
that while the other comparisons show
decreases, the figures called for a few
Odyo dSO ny SIlOW d
pickup since March 81 which is highly
satisfactory.
All Groups Show Gains.
All three groups, national banks, saw
ings banks and trust companies, made
gains over the call of three months
ago. The national banks made the best
advance. The figures show that the
national banks as a group added So
1923, 988.21 in deposits. The figures in
this list were given particularly good
boost by Riggs National and the Ma
tional Metropolitan.
The trust companies came second in
lifting their deposits between calls. AS
group they reported an increase of
$997,534.39. OF the trust companies,
American Security was the most sue
cessful in raising the deposit total.
The savings banks were not far be-
hind the. trust companies. The citys
savings institutions reported an increase
in deposits of 1855, 48335 since March,
In this group the Park Savings Bank,
Security Savings & Commercial, Bank
of Commerce & Savings and the Wash
ington Mechanics made especially good
records.
It is an interesting fact that deposits
in the banks always increase in times
of business depression. Less money is
wanted for business purposes, less
money is being spent, the public feels
the need of greater thrift and the
money piles up in the banks. This is
assigned by local bankers as the chief
reason for the increase at this time.
Elsewhere in The Stars financial
section is printed Mr.. Savage's complete
tabulation Of the banking situation here
so far as deposits are concerned. 1t
Is an interesting financial picture we'll
worth looking at carefully.
Yield. May Check Bears.
I'VE are inclined to the view" says
the United Business Service, that the
situation in business, deplorable as it
is, hardly warrants so pessimistic an
attitude as is reflected in the recent
1iquidating movement.
"A 50-to-60 point decline from the
average level Of stock prices in late
May seems no more warranted than did
the 45-to-50 point advance which was
staged in the opening quarter. Just
a sit appeared early in April that things
were being overdone on the upside, so it
appears now that poor conditions are
being overemphasized on the down.
side.
However, with quotations for many
OF the highest caliber issues now down
to levels where income return furnishes
incentive to buy for investment account,
such stocks are less likely to be the
object Of further bear attack"
LonsdaIe Virginia Schoolboy.
Many people will be surprised to know
that John G. Lonsdale, president of
the American Bankers Association,
went to school in Virginia. In his re-
cent speech before the Virginia Bank
ers' Association, at Hot Springs, the
noted f1nancier said:
1T affords me immense pleasure to
"a q ri Nf hi crNln a1Ny
OF Virginia bankers gathered here today
to discuss the perplexing things to
which the banking world has fallen
heir. Virginia, the mother of States,
always has possessed fascination for
me. I love its rugged and picturesque
mountains. its forest-clad slopes, its
beautiful valleys and winding rivers,
and above all its generous hearted
people. 1t was not by chance that a
part of my early education was obtained
at the Episcopal High School near
Alexandria, under the watchful care
of such sterling gentlemen as Mr.
Blackford and Col. Hoxton. A visit
to Virginia, therefore, brings me among
friends and homefolk."
Women Control Vast Wealth.
The tendency of men to provide SUBJ
stantial estates in the form of life in
surance or other property for Their
death, places vast wealth under the
control of women at the present time
According to the Federation of Wom-
ems Advertising Clubs of the World
more than 81 per cent of the million
aires of the United States are women
which is startling to those who have
visualized the typical millionaire as a
grabbed MD gentleman with govt and a
sour disposition.
Statistics show that 20 per cent OF
the estates left by men are left tt
women, and that women leave theil
estates to other women in "a per cent
of the cases noted. One reason for this
prepondCrance to women Is that mer
provide for wives and daughters BY
leaving them estates, while they safe
guard sons by starting them In business
Insurance Gains by Leaps.
A life insurance company which re.
quired 40 years to roll up its frs
billion dollars of insurance in forc'
has increased its business by an a6d''
tional billion three times within thu
past five years. The. most recent ne
increase of a billion required LITTLE
more than a year and ashalf Of time
The total insurance in force with the
L. ~ .