Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-07
GAIN OF S10,OD0,0OO
IN BANK DEPOSITS
Washington Institutions Show
Growth in Resources
During Year.
BY EDWARD c. STONE.

Further checking OF total deposits
In Washington banks, following yester-
DAYS call by Controller Pole, dated
September 90. shows that deposits in
the local institutions are now larger
than they were on the corresponding
date a year ago.
Deposits on September "a, 1880. ag-
gregated S265, 706, 200, while on Septem-
Der 90. 1881, deposits in the 80 local
banks Appropriated $275 ,462,l7l, this
gain OF around $l0,000000 rejecting
the sound position of these institutions
at the present time.
Had Yesterdays call been dated as
of September 80 ilSH Had of September
-, the showing VIC Nd have been even
better. as Government pay days all
wavs cause tremendous rush OF money
to the local banks.
Building Associations Growing.
The American Building Association
of Washington is seventy eighth in size
among the LOO savings, building and
loan associations in this country aff1-
lated with the United States Build
ing and Loan League.
Washington has five associations in
this class In addition to the Amer
lean Association there are located here
the Washington Permanent Building
Association. eighty-tifth i'll size among
the United States League members; the
Equitable Cooperative Bank, which Is
one hundred thirteenth in size; the
National Permanent Building AsSocia-
ton. which is one hundred twenty
ninth in size. and the Oriental Build
ing and Loan Association. No. 6. which
Is one hundred thirty-flfth in size
The Annals, scheduled for october
publication. is the encyclopedia Of the
building and loan business in this coun-
try published new each year. 1t is COM
piled by the United States League for
its LOO members all over the country.
Sixty associations, members of the
league. have assets exceeding $4,000,
900 and 80 have assets between FIVE and
ten million. Secretary Celarlus reports
Twenty-nine of the States and the
District of Columbia are represented in
the more than S5,0o0o00 building and
loan class.
Recovery Is Seen.
The business optimist in search of
figures to support a belief in recovery
will find his answer in the Building and
Loan Annals of 1881" says Mr.. Cellar
ius. 1T will be one of the truly opti-
nistic business books of the year. The
encoura cement found there will not be
the magic of fine phrases and inspira-
tional experts. 1t will be the simple
results of the statistics of our business
put down in black and white Sixty
associations. members of the United
States League, have more than 10000
600 in assets. Further figures show
that the total assets of the aSsocia tons
in the country have increased Sl28,-
964.939 in 1882 Even the hard boiled
peSs1rnist about business conditions will
have to admit the surprising prosperity
which has continued in our cooperative
home financing institutions, if he reads
the Annals carefully.
THE real reasons for our continued
success will be found by any careful
reader of these Annals. The whole story
of how an association serves the inter-
eSts of home owners and systematic
savers in its community in 1881. and
how II will serve these same classes in
1882. is told In the expert opinions Of
ATTORNEYS, State supervisors. advertisers,
accountants, secretaries. national lead
ers in the building and loan business,
economists and leaders in allied bust
nesscs."
Interesting Monthly Reports.
The Childs Restaurant Co. today re-
ported an increase of S28356 in sales in
September. or a gain of l.3 per cent
over September 1890. 1t was the first
increase in sales since April 1880.
The McCrory Stores Corporation re-
now AS they were a year ago at this
time September sales being 0.6 per
cent under last year and nine months
sales 0.5 per cent under the record of a
year ago.
Sales of G. c. Murphy & Co for
September revealed a gain of 10 per
cent and for the first nine months of
this year were up Is per cent, COM
pared with the like periods last year
Call If
per cent lower in September than in
the same month in 1880. For the nine
month period they are down IL per
cent.
F. w. Woolworth Co. sales we're off
slightly in September and are a little
behind for the first nine months of
1881, compared with 1890.
Trading on d. c. Exchange.
Today's trading on the Washington
Stock Exchange opened with 81 900
Potomac Electric Power Consolidated IS
selling at 1902.
The next bond transaction was in
Washington Gas SIS. $500 selling at 100,
followed by small sales in Washington
Gas 6s, series A. at lool4 and 100. After
call. four other sales in Washington
Gas 6s. series A, were recorded at par
Stock trading was confined to one
issue today. Potomac Electric Power So
per cent preferred. There was turn
over of 48 shares. in six transactions,
all made at 106 American Security &
Trust and National Metropolitan Bank
stocks have been added to the issues
now being quoted ex-dividend. Federal
Storage preferred has also been added
to this list.
Washington clearing house figures
for today: S4,502, 744.79.
Heard in Financial District.
Local board rooms were damned to
the doors today. following yesterdays
sharp advances in stock quotations. To-
days strong opening caused still further
interest in the Wall Street situation
Local bankers today generally were
enthusiastic over the action taken last
night at the White House to improve
the financial situation
The purchasing power of the dollar
has increased to S1.18 since 1925, &C
Cordlng to the Bureau of Labor Stats
tics. In terms of wholesale prices, how
ever, the buying power of the dollar
has increased to SLAB.
Prices pait farmers for their products
reached a new low level September 49,
the Agriculture Departments Bureau of
Agricultural Economics reported. The
price index was 70, as compared with
Is on August Is, and Ill September
IS, 1880.
Edscn B. Olds. treasurer of the Union
Trust Co. is taking his annual vaca-
tion S. w. Miller, assistant treasurer
OF the trust company has just returned
from his annual outing.