Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-02
D. c. BANK DEPOSITS
AT NEW HIGH MARK
Last Controllers Call Re-
veaIs Gain of $14,972,84S.
Figures Given.
BY EDWARD C. STONE.

smashing all previous records.
An official tabulation completed this
noon by Audley A. P. Savage, auditor
of the National Savings 81 Trust Co.,
reveals gain over the last call on De-
cember 81, 1880, of $l4,972,S48.7l.
Deposits in the local financial insti-
tutions on March 25 last reached the
sum of 1921 ST., 925 "a, while the highest
previous total on record was attained on
the call of october 3, 1928, when the
banks were carrying 1914, 232 ,831.27 in
deposits. the former high mark now be-
ing broken by $7.745,094.67.
Another interesting comparison is
with the corresponding call year ago.
The call came on March 81, 1880, and
against the figure just reported of 1921, :
977.925,94, an increase in the past IL
months Of SIS, lot 0o5.ol.
National Banks Head Gains.
Today's complete compilation shows
that every trust company in the city in
creased its deposits between the last
two calls. The national banks had the
largest aggregate increase, S9,796, 542 ID,
although the trust companies were not
very far behind, with $5,6S9, 1926. The
savings banks lifted their total deposits
by S487, 1927.
AS noted on the day the call was an
nounced, the largest gains by individual
banks were scored by Riggs National,
with S5,447, 204.40; American Security
g. Trust Co., with a gain OF $2,S75, 476.-
So, and Washington Loan 81 Trust,
which had an increase Of $1702,938.26:
However, the complete tabulation, which
appears elsewhere in today's financial
section of The Star, presents picture
which shows that many other local
banks also made a brilliant showing.
While local bankers are naturally some
what pulled up by the striking increase
in deposits, present interest rates TAKE
away a lot of the JOY.
If call money rates were higher than
the prevailing / u per cent the bank
ing situation in this city would De
ideal But on the other hand, II call
money and other interest rates were
climbing it is more than probable that
there would not be as much money In
the banks. How to invest 1t TO ao-
vantage IS the big problem-one OF the
hardest puzzles bankers have faceo In
years.
Mortgage Bankers to Meet.
A forward view into the financing Of
real estate will be the central theme OF
the Mortgage Bankers Association
convention to be held at Dallas, Tex,
october 81 to 90.
Trends in Mortgage Banking" was de-
cided at a meeting Of the Associations
BOARD of Governors in Chicago. Ac-
cordjng to j. B. Sleeper of Topeka,
Kans.. president of the association, the
convention will bring together 500 Of
ficials of insurance, banking and mort
gage companies, offering an oppor-
tunity to study from every angle the
future development OF mortgage lend
ing
''First mortgages on city real estate
and farms are fundamentally the same
conservative investments that they have
always been" he stated. ON the whole,
they have stood up. remarkably well
during a severe testing peFaod when real
estate operations have expanded to an
extent never before imagined possible.
In our field of finance, we have wit
messed over the past 10 years q number
of changes in organization, policies ana
methods. Out of the investment and
banking groups that will gather at Dali
las in October, 1t will be helpful to sum-
marie and evaluate experiences of the
past decade and plan together the poll
cies which will assure sound mortgage
banking during the next era Of business
prosperity"
Today's Trading in Exchange.
Bonds drew most attention during
today's session of the Washington Stock
market.
The market opened with 81 900 sale
In Washington Gas Light bonds, series
A, at 1917. Smaller sales were then
recorded at fractionally lower figures.
After call, there were five more sales
at 1917, while one $1,000 sale was re-
corded at 102.
Washington Gas IS also appeared on
the board, 81, 900 selling at 1852. Wash
ington Gas B bonds also moved in mod
crate transactions, closing at l0412.
There was 81 900 sale in Capital Trac-
ton SIS at 1914.
The first stock sale was IS shares
of Carpet Corporation at 2212. TINS
company recently put out an excellent
annual report and there has been more
activity in it during the past few days
than noted for some weeks.
Columbia Sand g. Gravel recorded
small sale at e4l2 and 10 shares OF Cap
9tal Traction changed hands at 34ae.
The Board Of Governors vote TO close
the exchange tomorrow, Good Friday.
All tickers in this city will be silent
as the New York markets will also be
closed.
Financial District Comment.
The Riggs National Bank has pub
lLSleQ cdlplliSL SALICr tllC COAAtiOlAS .
call as Of March Is, which shows total
resources Of 1908 900. The bank
established a new all-time high mark In
deposits.
Standard Statistics has just pub
lished review Of the American Ice Co,
which has carried on business In Wash
ington for many years. The company
now has 30 manufacturing plants and
extensive storage facilities and Is con-
stantly expanding. Coal and fuel oil
have become important factors in its
Winter business.
Carroll Glover Of the firm Of Glover
g. Father is on a short trip TO Europe.
Mr.. Glover is wee chairman Of the
beard of Riggs National Bank and
former president Of the Washington
Stock Exchange.
The Pittsburgh &, West Virginia Rail-
way has been authorized by the Inter-
state Commerce Commission to issue
S4.7OO. 900 short term notes up to June
80, 1888, and to pledge as collateral Sc
curity in this connection, $4,000 600 OF
the roads first mortgage series D bonds.
Hemphill, Moves g. Co., which main
tains q Washington Office, announce the
opening of an Office in Harrisburg, Pa,
under the management Of Henry M.
Gross.