Evening star., 1932-08-04

~ E1t4t3S q
per cent Of total
loans a year ago.
This drop in loans c. II. Pope.
was naturally ac-
companied by a decline in deposits. de-
mand deposits decreasing S58.365,O ,Ooo
and time deposits falling $37,894,0O0,
tctal Of S96,259,000, or 16 per cent OF
aggregate deposits en- July 10, 1881.
Lower deposits brought a correspond
ing decline in reserve balances carried
by the reporting banks at the Reserve
bank. this item declining $6,129.000
during the year. Cash in vaults also
dropped S506 900 between July Is, 1881,
and July l3, 1882.
The 49 banks increased their invest
ments in bonds and securities by S2l,-
$4,000 during the year under review,
end also increased their borrowing at
the Federal Reserve Bank of Richmond
by S4,643,000.
Debts Lower in Half Year.
At another point in his review just
published, Agent Hoxton refers to debts
to individual accounts, stating that
comparison of the figures for the four
weeks ended July 13. 1882, with cor
responding figures for the four weeks
ended july IS, 1881, shows a general
decline averaging 24.6 per cent, every
ona of the reporting cities sharing IN
the decline in debts this year.
Total debts in the first half of 1882
amounted to S5,4s1 ,511 900 in the pa re-
PORTING fifth district cities, compared
with debts aggregating $6,972,272,OOO In
the first half of 1881, decline Of ST.
49O, ,76l ,OG0, or 81 per cent, this year.
In comparison with semi-annual
;,, totals for 1QS2
were the lowest for any year since this
bank began tabulating debts figures in
1924. and were "a per cent below the
total for the first half of 1929, the
highest year on the reserve banks rec
ord. Every one of the "a reporting
cities show lower debts figures for the
past six months than for the corre-
spending six months of 1881, the Rlch- g..
mend bank report says:
c. II. Pope Back From Vacation.
President C. H Pope of the District
of Columbia Bankers Association ana
vice president of the NIunsey Trust Co,
who returned this week from his an
nual vacation passed at Goshen, N. Y,
has again turned his attention to the
variouS banking problems confronting
the association. He presided at yester-
days weekly luncheon of local bankers
held ct the willard. At these meetings
timely matters of interest to banking
and finance are Informally discussed.
Mr.. Pope has already appointed the
chairmen of the standing committees
to carry on the associations work dur
ing the coming year. The full mem
herstip of these various committees will
be announced before long. The chair
men of the Safe Deposit Fiduciary, and
Auditors Sections of the Association
were also selected some time ago.
Mr. Pope was acting president of the
organization fer more than seven
months last year so is unusually tamil-
lar with the work which the executive
head of the association is called upon
to perform.
Traction Bonds Lead Market.
Capital Traction IS led trading on
the Washington Stock Exchange today,
when several good-sized blocks changed
hands. Today's market opened with
$4,000, two $4,000, $4,000 and $500 bonds
selling at At.
Washington Gas IS, series B, figured
in a $500 sale at 1902 and baby bond
transfer at 100la. Washington Gas IS,
series A, came out in one small sale
at 1914
In the stock division, 10 shares of
Pc.omac Electric Power per cent pre-
ferred appeared on the board at 110
and 10 shares of Washington Railway
& Electric preferred sold at 81.
August business on the local exchange
has been unusually good. Bonds have
been in the best demand and prices
have been well maintained. The much
better feeling in the bond market i'll
New York appears to be reflected in
greater interest in local bond issues.
ID. c. Insurance Men Honored.
Eight Washingtonians among those
just awarded the Chartered Life Under
writer certificate by the American Col
lege of Life Underwriters. according to
report received at Washington today,
are j. Hicks Baldwin, Edward S. Brash-
ears, Lawrence c. Crawford, Karl S.
Hoffman, John A. Maphis, Frederick T.
Mupsell, Troy w. Rodlun and Russell
Shelk
Washington men already having the
designation are H. Lawrence Choate,
James A. De Force, Carr S. Dow, H.
Cochran Fisher, Joseph A Mari. Frank
D. Roach, Earle w. Sapp, Dwight T.
Scott and Paul D. Sleeper. Certificates
OF proficiency held by men passing the
examinations but not in agency work
have been awarded to Richard Eugene
F. ington Morton H. wilmer has passed
/ all examinations and will be awarded
/ the c. L. U. certificate upon completing
three years of successful field experience
in life insurance.
The examinations, prepared by The
American College of Life Underwriters
and held in so colleges and univerSi-
ties throughout the United States, were
taken this year by 638 candidates, rep
resenting 142 cities and towns in 40
States, the District of Columbia, Brit
ish Guiana, Cuba and Japan.
Taxpayers Halt Bond Issues.
New State and municipal bond
authorization in July by the taxpayers
of Is communities located in IL States
reached only the very small total Of
SI.619.000, according to the Daily
Bond Buyer. Amounts Of bonds voted
in July in previous years were S12,387,-
600 in 1881, S14 sea, ,486 in 1880 and
S35 1895, ,654 in 1929.
The largest project approved was a
S5OO.000 Jefferson Parish. La, water
works district No. / loan. Other
large items were S298,OJO Pine Plains,
N. Y, central school district, and
5000 900 Verona, Pa.
Proposals to issue S677, 500 in new
bonds were defeated by the voters Of
seven communities in six States.
Heard In Financial District.
National Dairy Products Co. today
declared a quarterly dividend of SO
cents on the common stock, payable
october l to stock of record September
S. This places the stock on 81 annual
basis compared with $3.50 previously.
American Stores Co. reports for six
months ended June 80, 1882, net IN
come OF S2,555,558 after depreciation
Federal taxes, etc, equivalent to Sl.9a
stock. This compares with S2,729,894
or sl.s7 a share on 1,454,244 shares in
/. first half Of 1881.
! The Wilson Line. Inc. took no action
ut Philadelphia yesterday on the semi
annual dividend Of $3.50 Oh the S
.,,,,,,,Jotyve y1referred stuck due at thi.