Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-11-06
D. c. BANKS GAINING.
IN SAVINGS TOTAL.
Deposits in 40 Institutions of
Capital Were 93,743,OOO
on September "a.
BY EDWARD C. STONE.

1880, figures, according 10 an analysis
%of the banking situation just completed
by John w. Pole, controller of the cur
Tency.
An abstract from the reports of con-
dition Of national banks, savings banks
and trust companies in the District of
Columbia at the close business on Sep
TENDER "a shows that deposits EVIL
denced by savings pass books exclusive
= of Christmas savings, totaled $93, 743. OoO
On the June call these same deposits
aggregated $50 500 600 and on October
4. 1929, they amounted to $85. 1884, 600.
These figures show the substantial gain
Of $1,000, 900 since october of last
year and a gain of So ,234 900 between
the September and June calls of the
present year.
Gain Of Nearly $S,OOO,OOO.
It has been generally supposed that
savings had been mounting during the
past year, but the fact that these ac-
counts have gained nearly ,$S,oOo,o0o in
the IL months will be highly gratifying
On September "a the IL national banks
had !$44,735,000 in their savings de-
partments, % savings banks were car
rying $21 $4,000 and the trust COM
pa1y savings departments had $685.
600 in savings on their books
The number of savings accounts
however, is not as large as it was a
year ago, but larger than on June 80
of this year. The national banks have
94,599 savings pass books out, the saw
1ngs banks show 1874, 572 pass books and
= the trust companies report 96,4T9 saw
ings pass books outstanding. This
means that the three groups of banks
had $50 savings accounts on the
date of the last call, compared with the
smaller total of 312,1 on June 80 and
the larger number, 335,l18 on october
4, 1929.
- Thus while the total number of peo-
pie in Washington carrying savings ac-
counts has dropped since the New York
stock market crash of last Fall, the
amount of money in the various &C
counts has increased
AS noted shortly after the last call,
total deposits Of all kinds in Washing
ton banks on September "a amounted
to $685., $50 900, compared with $751;
$4,000 on June 80 Of this year and
$269, 557 600 on the corresponding call
Of october 4, 1929.
Bankers Publish Biggest Bulletin.
The monthly bulletin of the District
Bankers Association has made its APP
pearance and contains great deal of
interesting matter regarding the re-
cent convention of the American Bank
CAo <AooONA0bAOA 0k O3CfCAoAANs
c. Addison, jr., representative from the
local association on the A. B. A. e&-
ecutive council, presents a most COM
plete report in the bulletin and Robert
w. Fleming, at the request of President
McLachlen, has reviewed many vitality
important matters that came before his
attention during the sessions. Mr..
Fleming is a member OF the executive
council of the national bank division.
The bulletin also contains an I'M
usually complete history of the Ameri-
can Bankers Association. 1t reviews
the last meeting of the local association,
the work of Washington Chapter, A. !.
B., and a special report on recent
meeting Of the District Bankers Adj
vertising Committee. This committee
recommends the regular Christmas
Savings Club campaign on the same
lines as in previous years, the drive to
start on Saturday. November 90. and
erA on January is, 1881.
It Is the largest edition of the bull
letin ever put out by the association.
The first article relates to plans for the
next annual convention in June.
New Bank Director Elected.
At the regular monthly meeting of
the board of directors of the Washing
ton Loan e. Trust Company yesterday
afternoon, Charles Parker Stone, presi-
dent Of Stone e. Fairfax, Inc. was
elected to the board. Mr.. Parker has
been prominent in the real estate bust.
ness in Washington and vicinity for
many years. He is the son Of one of
the founders of the firm and became
president when his father retired from
active business.
Exchange Elects Parker Member.
The board of governors of the Wash
rn1N knIa al 0fn cd
Chauncey c. Parker, jr., to member
ship. Mr.. Parker is a member Of the
newly established investment banking
firm of Auchincloss, Parker & Redpath,
IN the National Savings 81 Trust build
ing. He is a Harvard man. Is a former
manager of the local office Of J. A. w.
Iglehart e. Company and was afterward
connected with the Washington office
Of the National City Co. He takes the
seat on the Exchange formerly owned
by James NJ. Green.
Annuity Sales Gain Sharply.
The Fidelity Investment Association
reports gain of more than 80 per cent
in volume of business for the nine
months compared with the correspond
ing period of 1929, according to H. G.
Harris, manager of the Washington
Office. For the third quarter of the
year the increase was more than Al
per cent and for the month of Sep
TENDER it exceeded 80 per cent. The
figures follow:
1880. 1929
September go. SO, 900 $4,780,000
Third quarter :. 100000 $500. 900
Nine months -. 37,126.oo0 26,528.ooo
The association has paid out $lI $780,
900 TO contract holders in the last eight
years, according TO D. A. Burt presi-
dent, and now has resources OF |
$24 1854 1884
Equitable Elects Officers.
The annual meeting of shareholders !
of the Equitable Cooperative Building |
Association was also held Yesterday |
Here there were no changes all officers |
and directors being reelected. They /
president; John b. Larner. first vice !
president; Gilbert H. Grosvenor, second !
vice president Walter S. Pratt, IT.. !
secretary. Directors: Ralph P. Barnard I
Frederick " Coville, John Joy Edison, |
Gilbert II. Grosvenor. John B. Larner, !
Robert L, Lewis. Harry G. Meem. !
Walter S. Pratt, jr., Frederic B. Pyle.
Trading on ID. &. Exchange.
- Trading was rather quiet on the
washington Stock Exchange today.
Forty shares Of washington Railway &;
Electric preferred changed hands at
e3l4, 20 Of Columbia Sand g. Gravel
preferred sold at IS, Mergenthaler
registered COS and 100 shares Of Ma
tional Mortgage & Investment preferred
moved at S. Potomac Electric per
cent preferred sold at 1902 Bond trad
ing was confiIfed. to Washington Gas
issues at recent prices.
Ine local banks maintaining Christ
mas Savings Clubs have decided to
} MAKE the annual payments to members
on december l. This means that about