Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-03
WASHINGTON BANK
DEPOSITS LARGER
Gains Shown on Controllers
Call Despite Year-End
Payments.
BIZ EpWARp c. STONE.

BY EDWARD c. STONE.
Substantial gains in deposits in Wash
ington banks on December 81, in COM
parison to the last controllers call on
September 30, 1929. and also over the
figures OF December 81 year ago, were
indicated today.
Controller Pole issued a call today
as of December 81. asking for the con-
dition of all banks in the District of Co
lumbia and of all national banks in the
United States
First figures obtained showed an ex-
cellent increase in local deposits in the
past three months, the reports being
particularly gratifying in face of heavy
payments in connection with the Christ
mas savings club funds, the usual extra
Withdrawals for holiday shopping and
other year-end demands and withdraw
ais for the December Is tax payments.
The American Security & Trust Co.
reported deposits of $50, 487 PAT on De-
cember 81, compared with S29,S85. 619
in September, gain of over 1901 ,000
Riggs National reported deposits of
$53,923 ,961, gain of $2,130,000.
The Washington Loan 81 Trust Co
reported a substantial gain, as did the
National Savings & Trust. Other banks
also reported gains, and those that re-
ported falling of in deposits since
the last call ascribed the slump to the
heavy Christmas savings payments
which they made.
Fifth District Bank Deposits.
Further details from the latest re-
port of william M Hoxton, agent of
the Federal Reserve Bank of Richmond,
state:
Twelve mutual savings banks in
Baltimore reported total deposits at the
n1n If
amounting to $198,623 ,483, a slightly
lower figure than s198,704, 801 of de-
posits at the end of october this year,
but a higher figure than S187, 526, 1872
reported for November 80, 1929.
Time deposits in 81 regularly re-
porting member banks totaled $245,-
$4,000 on December 10, 1880, in COM
parison with time deposits aggregating
s256, 1925 006 on November IL this year
and 1898, LOT 900 on December IL, 1929.
Some decline in savings and time
deposits occurs in most years during
November and December, due chiefly
to Withdrawals for holiday shopping,
but the decrease reported for member
banks between November IL and De-
cember 10 was larger than usual.
During the month between Novem-
Der IL and December 10 total loans
and discounts held by the 81 report
ing banks decreased by $6,672, 900, loans
on securities declining $2,975, 900 and
commercial and agricultural loans de-
cltning $3.697 600. A decrease in loans
at this time Of year is seasonal, espe-
cial1y in commercial and agricultural
loans, sales of farm products and Fall
chants in funds with which to liQui-
date at least part of their obligations.
Data on Wholesale Trade.
Wholesale trade in the fifth Fed
eral Reserve district was poor in No
vember, large majority of 81 report
ing firms in five leading lines showing
smaller sales than in either October
this year or November, 1929. Part of
the decrease in comparison with Octo-
Der was seasonal and part in COMPARE
son with November, 1929 was due to
lower price levels this year, but the de-
clines last month we're greater than can
be accounted for by these two inf1u-
ences. In cumulative sales since jan
uary /, all five lines show lower figures
than in the same period OF 1929, drugs
making the smallest decrease. with 81
per cent, and dry goods the largest de-
crease, with 17.2 per cent.
Stocks carried by the reporting firms
decreased in November and at the end
of the month were lower in all lines
for which data are available than at the
eUO OF november, 1879.
THE percentages of collections in
November to accounts receivable on the
first Of the month, we're lower in ali
lines than the percentages in October,
and were also lower in all lines ex-
cept shoes than the percentages in Mo-
yember, 1929.
Contracts awarded in November for
construction work in the fifth district,
including both rural and urban pros
49,, ~
pared with $22, 870, 261 awarded in No
vember. 1929, and $33, Alb in No
vember, 1928, according to figures COL
lected by the F. w. Dodge Corpora
ton. OF the awards in November this
year, $3.T21, 005 were for residential
work, compared with 1886, 361 for this
type Of work in 1929
Insurance Speaker Secured.
A. r. Jaqua, assistant editor Of Dia-
mond Life Bulletins, Cincinnati, has
been secured as guest speaker for the
next meeting of the District of Co
lumbia Life Underwriters Association,
John H. Snyder, the president, an
nounced today. The meeting will take
place next Thursday noon, starting with
the usual monthly luncheon. Mr.. Jaqua
Is said TO be unusually interesting and
will take for his subject, Life Insur-
ance as An Investment"
The Underwriters Association is now
making special preparations to take
part in the Thrift-week program on
Insurance day
The May sales conference is also en-
gaging attention, as this is the most
important event of the kind booked for
1881 in Washington
Financial District Notes.
W A. Spaid of W. B. Hibbs g. Co,
Is spending a few days in Savannah,
Ga. He is expected back Monday.
A number of bankers will be among
the guests entertained at luncheon to-
day on board the S. S. Southland. The
luncheon is given by Raymond Riordon,
president Of the Raymond Riordon
School Corporation, To the officers and
directors of the Norfolk g. Washington
Steamboat Co. The Riordon School
Of Highland, n. Y, has chartered the
Southland and shortly will embark the
entire student body on the vessel for an
extended cruise to historic points on
Chesapeake Bay and its tributaries.
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