Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-07
RECORD IN BANKING
SHOWN BY REPORT.
Chase National of New York
Resources Gain $4e, 600, 900
in Six Months.
BY JOHN F. SINCLAIR
al D,snateh To The star.

Special Dispatch to The star.
NEW YORK, January THE re-
marka BILE record of the Chase National
Bank as shown in its statement for De-
cember 81 has been the talk OF wall
Street for several days.
Here's one bank whose total resources
have reached nearly $4,000, 600, 000-an
increase of little over S46 100000 since
the statement of June 80 last-an all
time world banking record.
But even more remarkable Is the
showing of its total deposits, which
amount to $2,o73, 000, 900, an increase of
1921, 100000 since September "a last.
The combined capital, surplus and I'M
divided profits Of this bank have reached
the stupendous total of $685., 000, 900.
For the last six months of 1880, when
bank earnings in New York, as well as
throughout the United States, were
badly shattered, the Chase National
earned $13,273, 900, equal to $1.79 share
on its 100000 shares outstanding.
Probably never before in banking his
tory have the New York banks-in spite
of the closing of the Bank of United
States and the Chelsea Bank & Trust
Co.-been in so liquid a position. A
study Of the December 81 figures show
this to be the case.
Bank Stocks Strong.
The stock market closed yesterday
with most of the leaders impressively up
for the day. One financial expert says
that it has switched from a low into
neutral. Whether it will now 20 into
high gear is another question.
The bank stocks especially were
strong, due largely to the clearing up
of the situation In the Manufacturers
Trust Co., and the strong support which
has come to it by the addition of Harvey
ID. Gibson, former president of the New
York Trust Co., and his powerful f1nan-
cial supporters.
Many of the wisest stock traders, how
ever, are on the Sidelines, especially
those in Florida, California and Europe.
They are waiting for a definite sign of
Improvement, which so far has not
shown very perceptibly through the de-
pressing clouds.
Sir Henry Armstrong.
When Sir Henry Armstrong, British
consul general Of New York, retires
from his ONCE to take it easy as we'll
to-do Englishmen are wont to after
quitting active life, he will be sorely
missed in New York
Sir Henry, now 10, has had a varied
and distinguished career. 1t covers a
wide range-from the army to the
stage, to business and to public life.
Born in Ireland, he early joined the
army, but quit after a few years, be-
cause 1t was a dull and uninteresting
life to him. So for several years he
became an actor. But this, too, he
quit.
In 1891 he landed In New York for
the first time. He was then on his
way to Mexico, but married an Amer
lean girl and lived in New York City
for more than 20 years. typical Brit
ish business man. A few years later
he became British consul in Boston
and was soon transferred to New York.
No Britisher has done more to make
cordial American-BritiSh relations than
this pleasant, agreeable, Woodworking
and extremely Shrewd Britisher, who
has negotiated many important busi-
ness deals in the United States for q
generation.
American business men will be sorry
to see him leave. They have come to
look up to him as q permanent. British
institution, like the Bank Of England
and Trafalgar Square. His place win
be dimcult to NIL.
Carrier Regulation.
Theodore D. Pratt, secretary Of the
Interstate Motor Carriers Association,
In a recent New York hearing before
an examiner of the Interstate COM
nnerce Commission, opposed the princi-
pie of regulating the common carrier
truck, for he believes that such regu-
Iation would protect neither the rail
carrier nor the common carrier truck"
Raiload presidents don't make q hit
with Mr.. Pratt.
ct is a fact, unfortunately for them
selves, that the nearest approach we
have to the feudal lord of past eras is
the railroad president" says Mr.. Pratt.
''For decades these presidents held the
power Of economic life and death over
communities and businesses IN fashion
very similar to the power of actual life
and death held by the barons Of older
DAYS; and it has given them a peculiar
slant on public property and the prop
erty and success and happiness of people
living in the territory which they serve.
They may we'll be said to have laid the
foundation for all the railroads
troubles"
But the railroad presidents are wor-
ried about competition. John Duffy
vice president Of the Lehigh Valley, told
the commission that IS motor bus lines
and 100 truck lines are operating In
competition with his railroad along its