Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-04

30, wnsn INC ag- Va -
gfcgatf amount
vas siiae0i 900,
and 6.340. 900
larger than on Tire
cali Of Septsn1ber
~ year ago. when
the total stood at Jshn W. Poi..
aIi3.sTs,o0o
savings deposits In this city two calls
back, or on March IS OF the present
year. were sit6.5oi 600, also consid-
erably lower inquire than Is shown by
the September returns.
Tire above figures are sufficient TO
prove that interest In piling up savings
Is undated In Washington that So
called "hoarding" has been practically
unknown here at afy time during the
depression and that the thrift complex.
III 1t may DO called that. is expanding
steadily
How Savings Are Divided.
Detailed figures from the controllers
abstract reveal that savings In the local
group Of IL national banks total 500. :
$40 600. tfat thrift accounts In the "a
savings banks amount In the aggregate
20 s26 .s2e 900, while the citys five trust
companies have In their vaults or out
Mt work s30.s50, 900. In the time that
has elapsed since the controllers cali
~ September a., it In safe to assume
that total savings In washington nave
now passed the si20,2is,oo0 inquire py
a considerable sum.
THE number of accounts, as evidenced
NV savings pass books, also reveals an
increase between the last two calls and
the corresponding call IN september 2
wear ago. There are now 235.37s say.
inos accounts In the local banks. Oh
these 110.052 are in the savings pank
-
1891 in the savings banks and 7S.Sl6
in the trust company savings depart
ments.
THE June call this year showed 325,-
O52 savings account pass books, while
the call a year ago on September ~
revealed 3i5,650. How rapidly the
number of savings accounts has grown
in recent months Is perhaps best pic
tured by going back to the March 20,
1881, call, when there we're S09,45l peo-
ple In this city having such accounts.
The Jump from that figure to 32S,37s Is
certainly notable.
The oft-heard assertion that people
become cautious when times are not
50 good and hustle to pile up defense
savings accounts Is proved beyond
doubt so far as washington Is con-
cerned.
Building in Fifth District.
Building permits issued by building
inspectors In 80 cities In the fifth re-
serve district In September totaled
2,B52. with estimated valuation amount
ing TO S6.O46,5 42, decrease OF 3.9 per
cent in number In comparison with
2 .96B permits issued in September, 1880,
but en- increase of SO per cent over
September. 1890, valuation figures, total
ing S5,663,58T, the Reserve Bank OF
Richmond reports.
Only IL of the 80 cities reported
higher figures for the 1891 month, but
washington showed an increase OF
nearly a million and a quarter dollars
and several smaller cities reported rela-
lively large increases. In proportion to
population, the best records for the
month were made by Clarksburg, w.
Va, and Durham. N. @.
Contracts awarded in September for
construction work in the fifth district,
Including both rural and urban projects,
totaled $40, 573,4l5, compared with only
&i2.545, 9S5 in August 1881. and $i6,-
162,532 in September. 1880. OF the
awards In September this year, $4,034,-
3s5, or only 1876 per cent. was for resi-
dental work, while last year residential
contracts In September totaled $6,496,-
Dat, or 400 per cent of all awards.
Ds ~ EsACnAHkC NAVEC fANNNN'
More activity was displayed on the
Washington Stock Exchange today fol-
lowing yesterdays holiday.
The opening sale was In Potomac
Electric Power y per cent preferred
stock which changed hands at 1867
Both type stocks we're out, LanStor
Monotype selling at the recent price 'oi
rs and Mergenthaler Linotype In small
lots at So. also unchanged from the las
previous sale.
Capital Traction stock appeared or
the board today on turnover OF onl!
IS shares, selling at "a fat, of y poini
from the last sale.
Washington Gas Light bonds. serie.
u, came out at lo2L; $500 Capita
Traction SIS moved at II, and S50(
washington Railway & Electric Is wert
IN demand at 8634,
Young Banker Scores Triumph.
Edwin c. Steffe of the Federal
American National Bank a. Trust Co
was showered with congratulations to
day for winning the finals in the Dis
trict Of Columbia radio addition con
test. He viii compete later in tn,
month for a share OF the SOS. 900 priz
offered by the Atwater Kent Founda
ton The young banker has a ricl
baritone voice and rare ability as
the District Bankers Association. a
Hot Springs. Va. Steffe scored an out
standing hit at the convention dinner
At the annual dinners Of the institute
OF Banking he has met with the sam
success as an entertainer.
Cleaned in Financial District.
The annual meeting of the Washing
ION Stock Exchange, which include
the election of officers and annual re
ports. takes place In about two weeks.
President Joshua Evans, ir. Of tn
District National Bank. will be bac
at his desk probably before the end c
the week.
Local board rooms were we'll file
this morning following the opening c
the New York Stock Exchange afte
Yesterdays election day closing.
Maryland's prospective yield OF 50
O0o. 600 pounds of tobacco this yea
compares with 1000. 600 pounds grow
in 1880 and a five-year average OF "a
432. 900 pounds,