Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-20
Business News in Retrospect
Action ON Various Bills affecting the Financial
Structure of the Nation Seems UnlikelyHt
This Session of Congress.
ice and Mr.. siddens doubled up with

office and Mr.. siddens doubled up with
A general doubling over the main
office placed many more, the central
branch had room to spare, in addition
to an apartment which housed per-
sonnet, auditors etc, and the problem
was solved at practically no cost, with
the exception of the real estate section,
one of the large entities Of the com
pany.
At his wits end, Mr.. Moran declared
his intention to spend some money, and
at once engaged quarters for the de-
partment in the Walker Building, south
Of the Union Trust Co. Mr.. Moran
then took day on for a needed rest.
Much Needed Investigation.
Investigation is the order of the day
and the Senate hasn't monopoly OF
it by any means.
Finance companies and automobile
corporations with insurance and bank
ing concerns have demanded and their
needs have produced several large firms
whose business requires careful delving
into the various lines Of commercial
and other business activities and that
have more than demonstrated their
ability to render valuable service to
their clients.
Financing of auto installment sales
is dangerous now that confiscation of
cars captured in the rum-running raids
has become such a factor that appeals
have been made to the Government for
the return of seized cars to those hav-
ing liens on them.
1t Is not likely that their pleas will
be granted, while the risk is sufficient
to make the investigation of would-be
buyers thorough before delivery of cars
Frequently the result has been to dis
cover the runner in his happy home, "
and only the deeper probe will uncover
him.
The insurance fraud is probably no
worse today than ever but 1t is bad
enough to keep companies and their
agents on edge all of the time. Some of
the most wonderful tales are told of
insured men and women alleged dead
long before their actual passing.
Bankers want to know more about
the men who are opening new accounts
and planning to do business with them
Occasionally they are able in this way
to check attempts to get the better OF
the institution.
Trust Company Earnings.
Reviewing the earnings of individual
trust companies, the New York Finan-
cial Age says:
THE Guaranty Trust Co. earned $24,-
921 900, or 31.8 per cent on its average
capital, los per cent on total capital
funds and 2.36 per cent on its aggre-
gate net funds. During the year divi-
dends amounting to $14,loO,oOO were
paid and the surplus profits increased
$139,957,0 900 to a total of $2O5 .O35, 900.
OF this increase $10,821, 900 was from
earnings and 1929, 10000 was premium
on increased capital stock and from
the absorption of the National Bank
of Commerce last May. The present
capital is 500, 100000 and the Guaranty
is one of the few large banks which
have retained the par value of their
stock at 500 q share.
THE Central Hanover earned $24,-
255,000, or 1912 per cent on its
average capital stock; paid dividends
cluded a stock dividend of the par
value of $2,500,000, but with market
value of many times that sum, and
with its additional earnings and the
absorption of the Hanover National
Bank increased its surplus profits by
SAL, 405,0 900 to the present total of $84,-
$4,000.
Other Trust Companies.
1.-THE Bankers Trust Co., with total
average funds of $563, $3.50, 900, earned
1929 900, or 2.54 per cent on total
funds. Dividends of $7,500,0O0 were
paid In the period and $6,798,00 added
to surplus, making that item $84,296,-
600, with capital of $25,000,000, as it
was year ago. The earnings to CAPT.
tai equaled 57.2 per cent and on COM
bined capital funds to IA per cent.
THE Equitable Trust, which is about
to consolidate with the Chase National
Bank, earned more than twice its divi-
dends of $6,045,000, the total net earn
ings amounting to $13,236,000, or 2.35
per cent on its total funds of $685.
28O, 900.
THE Irving Trust Co. increased its
surplus by $29,160,000 to total of
$84,198, 900 during the year, and in
creased its capital $10,0O0,000 to $780,
100000. Its net earnings were $12,16O,-
600, of which 100000 was paid in
dividends. Its total net earnings to to-
tai net funds of $538, $500 were in
the ratio of 226 per cent"