Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-04

amounted to $685.
600. During the
same period the -
banks further in Charles A. Fuller.
creased their in
yestments in bonds and securities, tnls
item rising by $527,000. and the aggre-
cate reserve balance of the SO 1nstltu-
fions at the reserve bank rose by $685.
0OO Cash in vaults increased Sf83.O0O
Deposits rose during the period under
review, demand deposits gaining 81 ,3I9
600 and time deposits rising S3,4on'Ooo'
The reporting banks increased thelr re-
discounts at the Federal Reserve Bank
of Richmond by $476,o00 between Au-
gust Is and September 10.
The 1880 figures show some inter-
esting variations from the 1929 figures.
Loans outstanding show an aggregate
decline of S47,817.0o0 during the year,
security loans declining $19.783,000 ana
oil other loans receding $28O34.oO0. ON
the other hand, the reporting banks
show material increase in deposits. De-
mand deposits rose 8,456,000, or %
per cent, during the year, and time
deposits increased S16733,000, or 7 per
cent, an aggregate deposit gain OF
SOS. 600. This decreased demand for
local loans coincident with an increase
in deposits was reflected in reduction
of S23558,000 in rediscounts at the
reserve bank and an increase of S29,-
100000 in investments OF reporting
member banks.
Larger deposits this year also made
necessary an increase in the reporting
banks reserve balances at the Federal
reserve bank. this item rising by
S2,552, 900 during the year Cash in
vaults declined 81 $4,000 between Sep
tember IL. 1929, and September 10,
1880. chiefly due to the fact that the
introduction of new currency in July,
1929, caused a material increase in
vault cash. while the bulk Of the old
notes were being gradually retired.
Gas Appliance Sales Up.
Gas appliance sales by the Washing
ton Gas Light Co. for the month of
September have broken all records with
a. total of $4,000.
This amount. according to the re-
port made by President George A. G..
Wood, Is nearly three times the total
sales made this time last year and al
NEST $4,000 more than the August
record. which had broken all previous
records.
I'VE believe this increase in the sales
OF gas appliances II convincing evidence
of returning prosperity" Mr.. Wood said.
In accordance with the expansion
program of the company, gas mains are
city. Mains are now being laid from
Twenty street and Pennsyl-
vania avenue southeast to the 1900
block on Twenty seventh street; from
Michigan avenue and Upshur street to
the 1400 block on Michigan avenue
northeast; from Fourth and Concord
streets to Third place and Longfellow
street northwest; from Twenty-fourth
and Quincy streets to the 5000 block
on Twenty-fcurth street northeast;
from the 1900 block on Evarts street
northeast to west of Seventeenth street;
from Seventeenth street south of Doug
las street to Charming street northeast
Bank Of Commerce Officers.
All officers Of the Bank of Commerce
& Savings were reelected yesterday at
the annual organization meeting of the
board of directors. They are Maurice
D. Rosenberg, president; Joseph San
ders, vice president: Irving Owings,
vice president; John M. Riorcian, exec
utive vice president; Thomas J. Groom,
vice president and cashier; Oliver Ex-
line. assistant cashier: Francis Robey,
assistant cashier; Joseph H. Milans,
secretary; Dr.. Clarence A. Weaver,
a auditor.
The annual meeting of the stock
holders was held in Alexandria week
ago when an excellent years business
was reported
Transit Company's August Report.
The August statement of the Wash
ington Rapid Transit Co. Just filed
with the Public Utilities Commission
shows deficit in net income for the
month amounting to S6,795.49. against
S6,434.25 for the same month a year
ago. an increase of S361.24.
For the eight months of the current
year a deficit of S16,739.12 is regis
tered against a surplus of S1,07le2 for
the corresponding period last year, max
ing a ne. deficit of S1T,811.04.
Financial District Notes.
Charles A. Fuller, well known in bank
Ing and real estate circles, took up his
new duties this week in the Washington
Office Of Eastman, Dillon g. Co., stock
brokers Mr. Fuller was born and rear
ed in Washington, is a member of the
board of governors of the Chevy Chase
Club and has made some unusually fine
golf records.
Norman E. Towson, assistant treas
urer Of the Washington Loan & Trust
Co. is the author of an article in this
months Trust Companies Magazine en-
Responding TO Public Demand for Safe
Investment Guidance" The writer
deals with the advantage derived from
the investment department Of the
modern trust company and is highly
interesting.
Bank ciearings in Washington for tho
week ending October were S26, GOT 600,
against $20.a5s, 900 in the previous
week. Clearings we're % per cent below
the corresponding week in 1929