Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-06
CREDIT BANKS TOP
old LOAN RECORDS
Advance $110,0OO,0OO in
Year to Market Associations.
Ample Funds for Farmers.
: BY EDWARD C. STONE.

DL EDWARD ~ GAONEs
The Federal intermediate credit
banks during 1880 extended to agricul-
ture the largest amount of credit in
their history, the volume of both loans
and discounts being greater than in any
year since the banks were organized.
Loans to cooperative marketing asso-
Citations aggregated nearly $4,000, 900,
including original advances of over $685.
100000. Total discounts amounted to
more than 500, 100000. including origi-
nal advances of nearly $70,000000. or a
substantial increase over 1929, which
was the record year up to that time.
The outstanding discounts and loans
on December 81, 1880, aggregated over
$3.50, 100000. While these amounts es-
tablished new records, the banks are IN
a position to extend credit in much
greater volume, and the Federal Farm
Loan Board is advised that they are
constantly endeavoring to MAKE LneiL
facilities available to assist IN meetlng
the credit needs of the farmer
To meet the increased demand 1or
funds. the intermediate credit banks
issued S197, 925, 900 of debsntures our
ing 1880. the largest volume IN any ons
year in their history. Their outstano-
ing debentures on December 81 amount
ed to $102, 1000.
Trust Department Assets Intact,
Oficial assurance comes to Washing
ton bankers that the trust 1epartnene
assets of the Bank of the Unltcd states
of New York has not been attecteu Oh
unmarried by the failure of that instltu-
tion The trust department assets OF
the failed bank are placed at approx
YnateIy 500, 900, 900. Notwithstanding
that the bank itself is closed and its al
fairs in the custody of the State BANK
ing authorities, the trust department.
continues to function and is m'etln3 an
its obligations to beneheiarles cash
balance held by the banking depart
Ynent to the credit of the trust depart
rnent and amounting to S670,668, was
covered by a check drawn IN tavor OF
the trust department by the bank SUI
perintendent within five days attel the
bank closed its doors Income Que on
trust and custodian accounts lave oeen
promptly met to date.
Examination by the State banking
authorities revealed that all bonds and
Investments and assets of the trust de-
nartment were kept separate and are
not involved in the complicated banking
and loaning operations which brought
about the downfall of the bank ana
which are now the subject of invest-
cation.
Enters Real Estate Field.
Arthur B. Dickinson, well known in
the local financial district, has been
appointed assistant general manager OF
the Strathmeade community develop
nent. which has made extensive add
tons to its executive staff.
Mr.. Dickinson, long a resident of the
District. goes to his new position from
the washington Offices of j. w. Selig-
man & Co.. where he was associated for
years with Frank p Morse, local head
Of this firm of investment bankers.
Prior to the Seligman connection, Mr..
Dickinson was also associated with Mr..
Morse when the latter represented Red
mond & Co. in washington.
Consolidated net profit of Stanley 90.
of America, over SO per cent of the
stock of which is owned by Warner
Bros. Pictures, Inc, for quarter ended
November %, 1880, was $3.50, 582 after
depreciation, interest, Federal taxes, etc.
This compares with net loss of $780,
GAL in preceding quarter and net profit
of Sl,179,976 in quarter ended NoVena-
Der 80, 1929
The daily average volume of Federal
reserve bank credit outstanding during
the week ended March 4. as reported
by the Federal reserve banks, was S921,-
100000, an increase of 100000 conn
pared with the preceding week and a
decrease Of S242,000,0 compared with
the corresponding week in 1880.
Brightwood Banks Assets Grow.
Raymond L. Schreiner, president of
the Bank of Brightwood, announces
that the institution now has assets of
1000, 900. Starting In business in 1922,
the bank took in Just over S23,0 900 in
deposits on the opening day. Since that
time the institution has moved into a
fine home Of its own at 1913 Georgia
avenue northwest, and deposits have
reached $864,000.
In addition to Mr. Schreiner, who is
cashier as wei as president, the other
officials and officers include G. L. Os-
born and Barton W. Perry, vice presi-
dents: c. ]. Sincell, assistant cashier;
Charles H. Gaskins, G. J. Sincell, r.
Mason WEIGH, e, H. Ankeny, f. L. Bull
lard, John r. Ertter, George w. Langley,
Samuel Moore, Joseph Nicholson, c. l..
Osborn, Barton w. Perry, d. F. Swab,
I. c. Towson and John Wischausen,
directors.
Trading on ID. c. Exchange.
Potomac Electric Power So per cent
preferred opened trading today on the
Washington Stock Exchange, selling at
1897, the same as the closing price.
Washington Railway g. Electric pre-
ferred moved at 93Iz.
Two bank stocks appeared on the
beard, District National selling at 207
atAu " aoAAAA6VOA oSoiA O AAhSb ~ cS
440.
A small lot Of Merganthaler Limo
type sold ex-dividend at 86. The re-
manning trading was confined to Gas,
Railway 81 Electric and Potomac
Power bonds, at recent prices.
Heard in Financial District.
I. A. Fleming viii arrive at his Wash
ington home on Sunday March IS,
after a Winter spent in Florida Pop"
has been at Hotel Indialantic Mel
bourne Like all other Florida sojourn-
ers, he has been greatly disappointed
in the weather that has prevailed dur
ing most of his visit The sunshine for
which Florida is so famous has been
very rare in recent weeks.
Kari w. Corby, partner in w. p.
Hibbs Co, has returned from an ex-
tended visit in Florida. w. w. Spaid.
partner in the same firm, is in New
York for few days.
A. L. Baldwin, prominent IN the local
Insurance field and former president
the District of Columbia Under
W..ers' Association, is passing two
weeks at a Florida resort.
John A. Reilly, former manager OF
the Washington Association of Credit
Men, has commenced his new duties as
one Of the vice presidents Of the
Federal-American National Bank e.
Trust Co.
President Hoover has signed the bill
amending the second Liberty loan act
so as 10 permit the issuance of an adj
ditionaI $4,000 900 900 Of bonds, to take
care of Treasury refunding operations.
Mackubin, Goodrich & Co, through
their Washington Office, have distributed
the annual report of the Houston Oil
CO. OF Texas. Favorable comment has
been made upon the progress of the
as Indicated Nv he phrapVf
signed by E. II. Buckner, president.