Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-02

to rediscount at Roland s RobhIns
the Reserve bank
in order to strengthen their cash posi-
tons.
Calls Conditions Normal.
In his opinion the marked increase in
rediscounted paper in late November
and early December was an unusual
development at that season, and the
decline between December Is and jan
uary Is was return to more nearly
normal conditions.
During the month under review,
Mr.. Hoxton said, 1.-THE Reserve bank
decreased its portfolio of open market
paper by S4.412,000, but increased its
holdings of Government securities by
$4,000 900. The several changes in as
sets resulted in a net decline of 3d.
10000 in total earning assets during
the month.
1.-The volume of Federal Reserve notes
In actual circulation declined seaSonally
list month, being $15,672,000 lower in
January 16, 1881 than in December 10,
1880. No change of Importance oc-
Cured in member bank reserve deposits
during the month.
The changes in the items. including
rediscounts held, open market paper,
Government securities, total earning
assets, circulation of Federal Reserve
notes, members reserve deposits, cash
reserves and reserve ratio, with others
of less importance lowered the cash re-
serves of the Federal Reserve Bank OF
Richmond by $5,523,000 between De-
cember Is and January Is, but the
ratio of cash reserves TO note and de-
posite liabilities combined rose 1.6O
points.
Comparisons With Previous Year.
"a comparison of the condition flg-
IIres as Of January Is. this year, with
those for the corresponding date year
earlier showed reductions during the
year in total earning assets and member
bank reserve deposits, but the clrcula-
ton of Federal Reserve notes, cash
reserves and the reserve ratio were all
higher on the 1881 date.
at should be understood, however,
that the figures mentioned reflect the
condition of the bank on the report
dates only, and are not necessarily the
highest or lowest figures that occurred
between the dates used:
"Rediscounts for member banks
totaled $6,586 900 less on January Is,
1881. than on January is, 1880, and
open market paper held showed a de-
crease Of 81, 49,, 900 in the same period,
but these declines were partly offset
by an increase of $7,35e.000 in Gov
eminent security holdings. The net
decrease in total earning assets was
S3,579 600. The circulation of Federal
Reserve notes on January IS this year
was higher by $4,196,000 than at the
middle of January last year.
Member bank reserve deposits oe-
clined S3,222 900 during the year Under
review, lower reserves being required
on reduced deposits in member banks.
The total Of cash reserves Of the Fed
eral Reserve Bank Of Richmond on
January IS, 1881, was higher by
1888 600. and the ratio Of reserves to
note and deposit liabilities combined
was higher by 3.65 points than the
corresponding figures on January 10,
1890" Mr.. Huxton reports.
SpeciaI Saul Committee Named.
President Lanier P. McLachlen of
the District Bankers Association APP
pointed a special committee today to
represent the association at the tu-
neral of B. r. Saul. The committee
includes Robert v. Fleming, Edward
j. Stellwagen, John B. Larner, George
w. White, H. H. Mckee, John Poole,
Corcoran Thorn, Howard Moran and
Frank j. Stryker. The president OF
the association will also attend the rites
President McLachlen has called a
special meeting of the association Tor
4 o'clock next Friday afternoon for the
adoption of suitable resolutions on the
death of Mr. Saul. The Resolutions
Committee is made up Of H. H. Mckee
Robert ". Fleming and Corcoran Tnom
Mr.. Sauls death caused wide ex-
preston of sorrow in the financial dis
trict. He had been seriously i'll for
such a long time. however, that his
closest friends had feared the outcome
He was a fayorite IN financial circles
and will be greatly missed. Never toe
busy to put himself cut to help a
friend" one banker said Of him today
Robbins Joins Wright, SIade.
Wright, Slade & Co., the New York
Stock Exchange house, which has Offices
in the Mayfiower Hotel, announces that
Roland S. Robbins has become men,
Der of the Washington staff.
1t happens that Mr.. Robbins Is bet
ter known as theatrical manager than
as a financier, although he has been
for some time connected with the
washington Office of Eastman, Dillon &
Co He was manager Of Keith's Theater
when vaudeville was at its height. and
packed houses were the order OF the
afternoon and evening. He managed
the theater here for some Is years
making a host of friends during that
long service. At one time during this
period President Wilson was one OF
the regular weekly patrons.
Edward r. keenan,, formerly engaged
in the real estate business in this city
has also joined the Wright, Slade staff
DuBose, Eastman, Dillon CO-Manager.
William j. DuBose has been appointed
co-manager, with Arthur Foraker of the
Washington Office of Eastman, Dillon &
Co. according TO announcement made
today.
Mr. DuBose has been with the local
office ever since the New York Stock
Exchange firm opened for business here
in 1925. He has wide circle Of friends
in the financial district. During the
past year he has been assistant manager
Of the Office so is already familiar with
his new duties. e
Arthur Foraker, who has not been In
his usual health for some time, is plan
ming to take a months rest.