Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-12
WASHINGTON BANK
DEPOSITS DECLINE.
Savage Reports Decrease
of Nearly $4,000, 900
as Shown by Call.
BY EDWARD C. STONE.

off just $i3,soe, 53s7s from the tota
deposits on the call of october 4.
The compilation covering every banR
in the city had been expected Tor sew
eral weeks to show a heavy decnne
the stock market break being assigned
by bankers as the main reason Tor the
drop in deposits due to general business
rscsssions and withdrawal OF funds al
the same time to protect New YORK
and other investments.
Perhaps the most interesting feature
In the tabulation, which appears elss-
where in the financial section of The
Sunday Star, is the fact that every
savings bank in Washington. with a
single exception. reported decline IN
deposits since the october call. The
exception was the Prudential Bank on
Florida avenue. which recently con-
Quoted a special campaign for new and
larger accounts.
AS a class the national banks were
down $7947 .36195 in their deposits
compared with october 4. the savings
banks had a decline of $2,897. 700 90,
while the aggregate slump among the
trust companies amounted to $780,
1885
OF the IL national banks in the city
five showed a gain and seven reported
declines. Two trust companies increased
oepoSlIS Willie i've WciC Uoio" 1leh
october figures.
Total Deposits on Recent Calls.
Total deposits on the December 81
1929, call were S255, 783. 346, compared
with s269, 5S9.8S5 on october 4; 1884,
479,96S ON the June 90 call, and $685.
200.277 on March 81.
On December 81. 1928, Washington
banks had on deposit 1854. 1873. 1877,
in 1909
smashed all previous records with a
total in deposits of S274.232.831. On
the last day of 1927 local bank de-
posts amounted to S249, 760, 607, we'll
under the figures at the close of 1929.
Reports from MANY of the Federal
Reserve districts indicate that Wash
ington is no exception to the rule and
that most other sections of the coun-
try will show as large or larger pro-
portionate deposit declines. Some of
this money needed for a host of year
end purposes. has already found its way
back into the banks.
Hand-to-Mouth Buyers Acquitted.
If hand-to-mouth buying, headlined
feature of the postwar distribution
system, has increased marketing costs,
it has more than made up by reducing
capital tied up in inventories. This Is
sis of decade of hand-to-mouth buy
ing by DR.. Everett S. Lyon of the
Bookings Institution in this city.
Actual case studies showed another
compensation. If buyers make out
fewer advance orders, they buy more
uniformly throughout the year: If they
order in smaller quantity, they often
buy more in the aggregate.
Ingenious and frequently excessive
f.,N !, hear 70
back into the quantity-purchase fold
and have generally failed. Even steel
is on hsnd-to-mouth basis. Con-
sumner buying has been least affected,
but housewives do not stock their pam
tries as they used to a decade ago.
Dr. Lyon traced hand-to-mouth buy
ing back to 1889: the phrase Itself to
1863 A post-Civil War wave lasted to
1897. But present hand-to-mouth buy
ing is less risky, less costly. because Of
present speed and dependability of mod
ern transportation. Mass distribution Is
now on moving platform
Committee Chairmen Named.
President A. e. Henze of Was hington
Chapter. American Institute of Bank
ing. yesterday appointed the 1880 BAN
quet officers and chairmen of subccm-
mittees for the twenty-sixth annual
Willard, February %. Those in charge
will be:
Chairman-T. Hunton Leith. Security
Savings & Commercial Bank.
Vice chairmen-Frank M. Perley.
American Security g. Trust Co., and
Miss Lois A. White, Federal-American
National.
secretary-Miss Mabel v. Royce,
Washington Loan & Trust Co.
",
National
Decoration committee-Miss S. Wini-
fred Burwell, chairman, National Met
ropolitan.
Entertainment = Henry F. Kimball,
chairman. Central Branch, American
Security & Trust Co.
Membranes A. Soper, chairman,
Lincoln National
Publicity. Fred English, chairman,
Commercial National.
Seating-f. j. Roberts, chairman,
Riggs National.
Mr. Leith has served as chairman of
the dinner committee four or FIVE times
and Is nothing less than banquet ex-
pert. He is surrounded by members who
also have done great deal of institute
work most successfully. The new COM
mittee heads had a luncheon at the
Raleigh yesterday and started the plans
AOi q very SiaDOTdIe event.
Two Local Market Features.
There were two features on the
Washington Stock Exchange yesterday.
On another small turnover Capital
Traction stock sold up to 1922, a gain
of a full point over the close Friday
and an advance of ~ points from its
recent price of rs, the figure at which
n number of small lots changed hands.
,,rsv.1 fkn
week the Supreme Court granted the
Baltimore street railroad 10-cent fare
The other leading incident in yester-
Rays market was the sale Of 20 shares
" Washington Gas Light stock at 96l2.
This was the first time the local gas
stock has sold under 100 for nearly two
Fears. The stock last sold at los, while
The high mark for 1929 was 1872
reached at the time the lively contest
FOR control of the company by New
York interests was at its peak.
Potomac Electric per cent preferred
sold yesterday at Ill; TWO shares OF
Riggs National moved at Sic, and
rs shares of Merchants Transfer d
Storage common came out at lib. Peo-
Piles Drug Store preferred registered
1041a and Commercial National Co..
preferred recorded two sales at IS.
In the bond division. $4,000 Capital
IrScClOn oS sofa at WA, @l,0VU wash
lngton Gas IS, series A. moved at lOl ",
while $500 B bonds sold at 1852. The
Unlisted securities held at recent levels.
Lonsdale on Money Outlook.
"Our institutions stand ready to as
Sist, within their proper fields, prudent
business undertakings. While financial
conditions as a whole are strong and
snoney rates have eased, and no credit
krin0encv is in prospect q word OF
caution must be expressed concerning
arousing too much expectancy Of cheap
money" says John G. Lonsdale, presi-
dent of the American Bankers ASsccia-