Evening star., 1932-11-15
BANKS RESOURCES
HIGHER SINCE June
Controller Also Reports Gains
in Deposits Over Record
of Previous Quarter.
BY EDWARD C. STONE.

b1 EDh AEsO ~ OAONE,
The 60s5 reporting national banks
IN the United States, Hawaii and
Alaska had resources of $22, ,565, ,995, 900
on September 80, an increase OF $196,-
284, 600 over the previous quarter, but
q decrease Of $780, 900 over the
corresponding quarter in 1891, the con-
troller of the currency reported today.
Loans and discounts including re-
discounts, on September 80, amounted
to S9,919 ,662 900 and showed decreases
for the 3 and IL month periods OF
$S62, 2,O14,0Oo and $2,560,273,oO0, re-
investments in United States Gov
eminent securities of 1862, ,669, 600
showed an increase Of 1910, ,003, 900 since
June 80, 1882. and an increase OF S373,-
@02, 900 since September 29, 1881. Other
bonds and securities held, amounting
to SO, ,7S0, ,623. 600, showed decrease OF
$63, ,363, 900 since June 80 and a de-
crease of $599, 900 in the year.
Deposits Higher Since June.
CAPITAL stock paid in totaled $685.
2a2 OO0 which was $5,751 600 less than
n June, 1882, and $93, ,142 900 less than
In September, 1881. Surplus funds OF
81 .2O5. .93e 900 and net undivided profits,
excluding reserve accounts, OF $685.
3s4 600, total of 1874, 1923 600 showed
decreases in the and IL month periods
of S47,623,0O0 and $4l1, $4,000. re-
spectively.
National bank notes outstanding
amounted to STAB. .o80, 900, in compari-
son with S652, 10000 on June 80 and
1881 500 600 on September 20, 1881.
Deposits on September 80, 1882, ag-
Rregated $l7,917,00o, showing an in
crease since June of $221, ,oo4 900, but a
decrease in the year of $685., ,467 900.
The percentage of loans and discounts
to total deposits on September 80 was
56.l0. in comparison with 1888 on June
80 and 81 "a on September 29, 1881, the
troller states.
Reserve Board Leaders Meet.
Federal Reserve Bank governors and
agents discussed pending banking leg
islation in Congress and Federal Re
serve policy at a meeting yesterday with
the Reserve Board.
This was the first meeting in two
years Of Reserve Board governors, agents
and board members. While no statement
was issued, there was consensus OF
opinion that the Glass-Steagall pro-
visions allowing the substitution Of
Government securities for eligible
paper as collateral for Federal Reserve
notes should be continued beyond the
one-year limit. There is some quetSion
as to whether the board will ask for
continuance at the present time or
wait until the middle of the Winter.
The conference also discussed branch
banking legislation and the Glass Dill. |
While the desire of some that the Re
serve diminish somewhat its holdings OF
Governments was noted, the feeling was
that this policy should be unchanged SO
rs to give every opportunity cheap |
money viii allow for promotion OF bus
tness recovery. 1t was considered pos
aible, however, that some of the January !
uaturities of Governments may be al |
lowed to run off without being replaced, |
but there will be no substantial selling |
of Governments in the open market, the /!
Woll Street Journal believes.
Secretary Mills attended the meeting |
and discussed the Treasury position.
Insurance Address Is Lauded.
Local insurance men today were
praising the address made before the
District of Columbia Life Underwriters
Association by Charles G. Thompson,
head Of the national organization. |
President Thompson stated that per
capita life insurance in the United
States Is ahead of every country in the
world He declared that life insurance
is the greatest preserver of individual /
rights in the universe. He spoke c. The /
high type of men in the insurance field |.
and praised the educational program.
He said that too much stress could
not be put ON the value of the local
underwriters associations and noted the /
rapid increase In membership in the 1
past few years. In conclusion, Mr.. |
Thompson outlined the three major I
periods of development in life insurance, !
adding that at present there is a dis I
tinct trend toward retirement insurance I
and protection through legal reserve /
policies.
John Dolph, district manager of the
Metropolitan, stated that the Stupen- I
dous sum of S4,140 100000 was distrib- |
uted by life insurance companies last |
year.
Today's Trading on d. C. Exchange.
On the Washington Stock Exchange !
today two $1,000 sales in Washington
Gas IS, series a, were recorded at 99H /
and one $500 sale at 99%. Five shares |
Of Potomac Electric Power per cent
preferred stock sold ex dividend at
1l0h. Twenty-Five shares of Washing
ton Railway & Electric preferred
changed hands at 81.
Consolidated sales of Safeway Stores, !
Inc, system for four weeks ended No
vember 5, 1882, were $16,361 ,30l, COM
pairing with $17,2l9, ,692 in the preceding
four weeks ended October 8, last. For
the A weeks ended November 5, 1882, !
sales totaled S194, 1913, $685. Number of
stores in operation were 1885,
For the first time in several months
commodity prices were decidedly higher
during the latest week The whole
sale price index of the National Ferti-
lzer Association advanced from 500 to
60.5-a gain of six fractional points.
Banks in the Detroit area will dis
tribute approximately $4,910,O00 this
month to Christmas savings club depos-
itors. This compares with S5.625,128
distributed last year. The First Ma
tional Bank will make the largest dis