Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-06

total resources n
reaching the sum John W. Pole.
of $172, $4,000.
AT the time the report was drawn up
the six trust companies had $1o,40o,00o
in capital demand and time deposits OF
SIC. 339, 900, while total resources
amounted to S1OA, 100000.
The group of % savings banks has
total capital Of S2.753, 900, demand and
time deposits totaling $40 $4,000 ana
total resources of $47, 424,000.
The "a building and loan associations
hold demand and time deposits amount
ing to S64,480,000 and total resources
OF ST. ,629 600.
Thus the various banking institutions
have combined capital in the sum OF
S23. e28. 600. demand and time deposits
totaling S3O6, 1894, 900 and aggregate
total resources of 1896, 1913 900.
Other Facts Presented.
Controller Pole also presents many in
teresting figures concerning earnings,
expenses and dividends Of the local saw
ings banks and trust companies. In tne
six months ended December 81, 1929,
seven local trust companies paid out
S612, 900 in dividends, while in the SIX
months following, ending June 80, 1881,
six local trust companies paid out the
larger sum of S618,000 in dividends.
The % savings banks paid $4,000 in
dividends in the six months ended De-
cenlber 81, 1929. against $131 900 in the
first half of 1890. These same banks
and trust companies had larger earnings
in the first half of the fiscal than in
the last half, but showed a reduction IN
expenses during the six months ended
June 80, 1880, the controllers report in
dicating more careful management.
For the year ended June 80, 1880, the
national banks in Washington paid out
81 .331 600 in dividends and made net
additions to profits totaling $1,670,000
The controller presents vast amount
of information supporting the reports
from many local bank officials, which
state that the banking institutions here
are in an excellent position and have
very little cause for complaint over last
years depression.
DR.. Friday to Address Bankers.
DR.. David Friday, widely known econ
omist. has been secured as guest speaker
for the open meeting of the District
Bankers Association, to be held at the
Willard on Monday, January 26, Presi-
dent Lanier P. McLachlen announced
today.
DR.. Friday is now connected with an
important investment advisory concern
in New York, but has lived in Wash
ington good deal and has many friends
among local bankers. He will speak on
the Outlook for Prices, Profits and In
terest Rates in 1881" The economist
gave this address before the leading
bankers of Philadelphia few days ago,
his remarks creating tremendous In
teTest.
DR.. Friday is native Of Michigan.
He was professor Of economics for
many years, and from 1921 to 1928 was
- ri 81
College. He is an expert on taxation,
member Of the American Economic AS
ISOLATION and the National Tax Associa-
ton. He is a member of the Phi Beta
Kappa Scholarship Fraternity.
The committee in charge of the COM
ing nesting is made UP Of Edward j.
McQuade. vice president of the Liberty
president of the Federal-American Ma
tional Bank & Trust Co., and w. w.
Spaid, partner in W. B. Hibbs 81 Co. A
similar meeting was held last year and
very largely attended. DR.. Irving Fisher
OF Yale being the speaker. His address
was on the New York stock market,
which at that time was cutting up as it
never had before.
Local Market More Active.
There was considerable more activity
on the Washington Stock Exchange to-
Washington Gas, Georgetown Gas and
Potomac Electric Power issues
In the stock division, Capital Trac-
ton was bit stronger. The market
opened with small sale at 401s and
closed with 100 shares selling at 40l2.
MeTgenthaler figured in several small
sales, opening at 1854 and closing at
a6ss. Potomac Electric 5l2 per cent
preferred moved at lob, Barber g. Ross
common at IL and Federal-American
common at 27i2.
One bank stock appeared on the
board 10 shares of American Security
& Trust changing hands at 345.
Heard in Financial District.
Controller John w. Pole, Robert ".
Fleming, president of the Riggs Ma
tional Bank, and John Poole, president
of the Federal-American National Bank
SS Trust Co. are to address the January
meeting Of the Board of Trade at the
Willard Thursday evening. The meet
ing is to be known as bankers night, Z"
the arrangements having been made
through the special efforts of the head
of the District Bankers Association,
/. p. McLachlen.
Chairman Aubrey o. Dooley of the
Institutes Educational Committee, an
nounces that Washington Chapter is 70
have a course in real estate during the
last half year. It is 10 be conducted by
John A. Petty, executive secretary OF
the Washington Real Estate Board
Many other leaders in the real estate
field here have bsen secured to give Spe-
cial lectures during the course.
The Federal Reserve Boards condi-
ton statement Of weekly reporting
member banks in leading cities on De-
cemher 81 shows an increase for the
week Of s396,000.000 in net demand
deposits. and decreases of $4,000 900 in
time deposits, Sl6l 100000 in borrow
ings from Federal Reserve banks and
S29 600 900 in loans and investments.
7. w. Woolworth December sales Al
per cent below December, 1929. at S42,-
3i9770; u months, of As per cent al
$3.50 233,552.
Sears Roebuck December sales de-
creased 22.4 per cent from like 1895
period. 10 s39,075, 1888: years sales de.
crease ia per cent, TO $500, 1892, lot.
Effective January /, the Consolidated
Bank & Trust Co. and the Commercial
Bank g. Trust Co, both of Richmond
became one, using the name and tht
banking house of the former. The banl
has capital and surplus OF $135,000.
DECLINE IN SILVER.