Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-02
Deposits Are Large.


THE banks are bullying with money
and should show good gain in deposits
ovver the June figure one banker SAID
today. They may even make new all
time high mark, although that is mere
Euesswork he added,
1t is known that savings deposits III
Washington banks are now near to the
highest total on record. They nave
mounted pretty steadily ever since
4he Wall Street crash of two years ago.
Bankers SAYS they are still holding up
splendidly
There is also understood to be large
amount of money in the local banks
which is awaiting permanent investment
when local investors consider that the
business corner has been reached. In
the opinion Of many, that time can1ot
be a great way of.
When the leading business ana
financial barometers actually turn up
ward this money will be sWltcheo
RAPIDLY into what are considered the
best investments. Just now. however,
this large total of reserve. funds is
doing important work in keeping local
bank deposits right around the largest
aggregate sum on record
If the call is dated after October /
all the dividend money that was re-
ceived on that date will be added TO
the sum total of deposits, as will other
funds which came in around the nrSt
of the month.
Doak Finance Farley Speaker.
Secretary Of Labor William M Doak
has accepted an invitation to ADDRESS
the coming national convention OF the
American Association OF Personal
Finance Cos. on October 81 at the
United States Chamber of Commerce
an tStqhil1Zpd
Income-the Credit Base.
Francis G.. Addison, jr., president OF
the Security Savings & Commercial
Bank, and Philip P. Colt, manager,
trade association department OF the
United States Chamber Of Commerce,
will make addresses of welcome, Jonn
j. OConnor. manager, finance depart-
ment of the Chamber of Commerce, VIII
discuss Personal Finance and General
Business" and DR.. Frank M. Surface,
assistant director, U. S. Bureau OF For
eign and Domestic Commerce, will speak
on Business Charts the New Course.
About a score of prominent speakers
from other parts of the country are also
on the program. The general theme OF
the meeting is Consumer Credit and
Personal Finance" Three round-taole
luncheons will be held at the Mayfiower.
and as last year, large amount oil
sightseeing and other entertainment has
been arranged
More than l 900 leaders in the per-
sonal loan field are expected at the SEES
sions.
Lanston Again Market Leader.
Sales in Lanston Monotype stock
again overshadowed all other transact
tons on the Washington Stock EX-
change today.
Yesterdays sales of over 500 shares
were followed by a turnover OF 400
shares during todays session, the close
being stronger than the opening.
Lanston opened at 10, at which figure
IFS shares changed hands, the largest
sale being a block Of 80 shares and
the smallest 10
The stock then advanced to 70l4,
to Il and p, and only one more sale
was registered at 10 during the session.
One sale was made of 80 shares at 10
and so shares sold at 70l4 the remain
ing transfers being made in smaller
lots with fractional changes in prices.
1t was stated by members OF the
exchange that most of the sales in
Janston stock, perhaps all OF them,
during the past two days have been
made in connection with an estate now
being settled Members of the exchange
also expressed satisfaction that the
market had been able to absorb so
much of the stock in the past two days
without a further drop in the price
Only two other issues appeared on
the board today. One hundred shares
of District National Bank stock ex-
changed hands at 1876, the largest sale
in this issue in many months.
Two f1ve-share lots of Potomac Elec-
trio Sig per cent preferred came out at
107 Union Trust, American Security
3iryrre of orr no CT
being quoted eX dividend
The first Saturday session of the ex
change since last Spring will take place
tomorrow.
Heard in Financial District
The Washington Loan e. Trust Co.
has sent to depositors and others
complete program of all events in con-
nccticn with the George Washington
Bicentennial Celebration in 1882 It is
q most attractive and convenient little
booklet.
Work of renovating the main Office
Of the American Security e. Trust Co. is
progressing very rapidly. 1t will require
several months and when completed
connection will be made with the bank
ing Offices of the new adjoining office
building
Local brokers were very much hap
pier today when the Stock Exchange
opened much stronger than for several
days, many stocks showing substantial
gains. The big question was whether
the advances would hold. Board rooms
were again crowded
Outstanding indebtedness Of Virginia
counties decreased S2028462 in the
fiscal year ended June 80, 1881. COM
pared with the preceding year, although
the cities increased their Indebtedness
during the same period by $17l.126
Washington clearing house figures for