Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-05
Great Increase Is Shown
Since Break in New York
Market.
b. C. EXCHANGE RESUMES
SESSIONS ON SATURDAYS
Institute Committee Planning
First Forum Meeting of
Winter Season.
BY EDWARD C. STONE.

Washington banks have added more
than $10,000,000 to their deposits since
the New York Stock Market crash late
last year.
These same banks also gained over
S3,500,00 between the controllers calls
of June 80, 1880, and September "a,
according to an official tabulation COM
piled by Audley A. P. Savage, auditor
Of the National Savings & Trust Co.
On the call of December 81, 1929, the
FIRST after the market break, the local
banks reported deposits of $255, 1884,
346.85, in comparison with total de-
posits on September "a last of $685.
706,200.93, the difference being a gain
Of exactly s10,077, 1882 On the call
Of October 4, 1929, just before the stock
tumble, deposits in Washington totaled
e269. 589, 1884
Deposits on June 80, 1880, the last
call previous to the one issued last
Monday by the controller, were $685.
o52,926SS, so that the gain in the past
three months in the Capital has been
Just $3,653,274.05.
Comparisons Made by Groups.
Elsewhere in The Stars financial
section the deposits on September "A
for every bank in the city are printed
The national banks as a group gained
q group added $569, 4073 81 to their de-
posits. But the trust companies as a
whole did not make as good a showing
their deposits being below the total
figure for the June 80 call
Savings deposits are reported as ex-
ceptionally large in the savings banks
and in the savings departments of the
national banks and trust companies
This is a situation that always prevails
in times of depression, thrift coming
rapidly to the front.
The call came earlier in September
than it ever has in the past. Had it
come early in october, it. is estimated
that the local banks would have had
very much larger deposits, with the
October l dividend checks on deposit,
as well as money placed in the banks
by people who have been out Of the
city all Summer.
As it is, however, local bankers are
highly gratifed with the latest bank
call figures, the report showing q sound
banking situation in the Capital.
ID. C. Exchange Open Saturday.
The Washington Stock Exchange re-
Sumed Winter sessions yesterday after
being closed since June
Trading was not what could be called
sensational Washington Railway d
Electric preferred opened at eelz and
closed with a five-share sale at 95.
Lanston Monotype came out at 114h.
while Merganthaler Linotype, the other
type stock. saw one sale OF but three
shares at 95.
Riggs National Bank stock figured in
O single-share sale at ATS. The remain
ing trading was in bonds, $4,000
Railway g. Electric As selling at 89h
and $4,000 more at the same figure.
The market closed with 5000 Washing
ton Gas SIS. series A, moving at 1929.
AS a whole. the first week in October
saw fairly active trading With prices In
most, issues holding around recent lev
els. Members, however, often express
regret that W. B. Hibbs no longer at
tends the exchange regularly. Mr..
Hibbs was for many years the most
active trader the exchange ever had.
On quiet days he often made q market
In q stock and his buy or SELF offers
are much missed. The active trading
carried on by the. late Charles j. Bell,
especially in local bond issues. has never
been equaled by any other member
since his death.
Institute Planning Forum.
The Forum Committee of Washing
ton Chapter, A. I. B., consists Of A. e.
Hence. chairman, W. B. Hibbs 81 Co.;
J. A Soper, vice president, Lincoln Ma
tional Bank; /. j. Roberts, assistant
cashier of Riggs National Bank; Harold
w. Burnside, assistant cashier of Riggs;
T Hunton Leith, assistant cashier, Sc
curity Savings and Commercial.
Plans are being made for the first
forum meeting. which will probably be
held on October IA in the Willard room
of the Willard Hotel. at which time a
talk will be given on some subject of
interest to all the banking profession
and which will be followed by a general
discussion.
Members of Washington Chapter will
rive an opportunity to display their
shT in miniature golf. A tournament
open TO all members of the chapter will
be held at Z pm. on Wednesday, Octo-
Der 8. The Athletic Committee consists
Of j. z. McGreary, chairman: K. Brig
field. W. H. Callan. G. P. Grau, jr.; L.
II. johnson and William Winstead.