Evening star., 1933-07-07
WASHINGTON BANKS.
IN GOOD CONDITION.

First Reports on Call Show
Deposits Are Well Main
tanned.
BY EDWARD c. STONE.
The controller Of the currency issued
O call today. asking for the condition
of all banks in Washington and all the
National banks in the United States
as of June 80, 1888, the last day OF
the Governments fiscal year.
First reports regarding the condition
of Washington banks, obtained this
forenoon. indicate that deposits have
been well maintained since the last
previous call, issued on December 81,
1882.
Deposits in the 20 local banks now
operating on full service schedules were
reported as follows, as of June 80, 1888:
Deposits.
Banks. June 80, 1888.
American Sec. & Trust. S34,414009 80
Blk. of Com. & Savings 1,484.8 80
Columbia National 49,. 3.4O1 ,2l6.7!
Liberty National ....... 3,793,94O.15
Lincoln National ...... 5,8ll, 37.91
McLachlen Banking Corp. 2,152,743.4 ~
Munsev trust Co. ...... ASH, ,952.32
National Bank of Wash. 8,532 5IO4b
National Capital Bank. 1852 O06 %
National Metropolitan e. 22,947 .343.21
Nat. Savings & Trust Co. 13,49o, 3I2 90
Riggs National .. 70,125, ,824.25
Second National ..... 5,466, ,487 w
Security Saw g. Comm. 5000, ,415. .29
Union Trust Co. ...... 8,OO2, w
Wash. Loan & Trust Co. 16,l59, ,42417
Wash Mechanics Savings 2,374, ,0OO 10
Morris Plan Bank ..... 1,458, ,4295 80
Anacostia Bank ....... 1.175,50757
Rast Wash. Savings. 500, 9,513.56
First Call of Present Year.
A glance at the figures shows that
the Riggs National had the highest
total ever reported on a call date.
Other banks noted substantial gains
over their last previous reports.
Today's call was the first bank state
ment requested by the Treasury De-
partment so far IN the present year,
the usual March figures not being called
for on account of the bank moratorium.
The law requires three reports year,
so that two more calls will be issued
befoe January l. The call today was
the first issued by Controller O'Connor
since taking office.
Local bankers today expressed salts
facticn over the present status Of the
banks in the Capital The banks would
have reported a considerably larger
total in deposits had not many with
drawals been made just before the END
of June to avoid payment of the in
tangible tax. Money on deposit in the
banks has to be reported in connection
with this tax. This always causes
switching into non-taxable bonds ana
results in many other temporary with
drawals Bankers said that call dated
today would find practically all this
money again on the books, making a
much larger total in deposits in the
local banks
The IL closed banks do not have to
file a report for publication. Because
of their efforts to reopen, however, the
Treasury keeps in extra close tcCch
with their financial condition. The
opinion was expressed today that be-
fore the next bank call many OF The
BANKS will have been reopened through
the consolidation plan or as separate
units. At the time they failed to get
licenses to resume unrestricted busl-
ness. there was S32 100000 in deposits
tied up in these institutions.
Complete reports on the condition OF
Washingtcn's banks on June 80 Will b2
published in few days, as required oy
the Treasury Department. THESE re-
ports will show that the banks here are
in an unusually strCng liquid position.
Fifth District Still Improving.
From the Richmond Federal Reserve
Bank come reports that employment
conditions improved materially during
the first half of June. Reports for the
full month will be out shortly. Coal
production also made marked gains in
May, which proved the reports of in
creased industrial production. Textile
and tobacco plants have shown espe-
cially good progress toward recovery.
The Richmond bank reports that re-
tail trade has been excellent during the
last week over practically the whole
district The weakest spot in this ter
ritory right now is construction. This
has declined steadily for the past two
years and has not yet shown any worth
while improvement.
The fifth district is entering the Sec
end half year with more confidence.
Each month is expected to show more
favorable comparisons with the same
month year ago.
1t is now clear that the improvement
In this Reserve area and all over the
country is due to actual gains in busi-
ness conditions more than to the de-
probation of the dollar on the world
markets. At least that is the view
many bankers hold. Rising prices are
considered the most important factor
in the advances outside of the stock
market.
Today's Trading on Exchange.
The Washington Stock Market
opened today with S100 Washington
Gas IS, series B, moving at 10315. Later
in the session three $1,000 sales in
Washington Railway & Electric As were
recorded at 8712.
In the stock division 10 shares Of
Mergenthaler Linotype changed hands
at 80 and Is shares of Capital Traction
appeared. on the board at 9. These
were the first sales in Traction since
the unanimous vote in favor of consoll-
dation with the Washington Railway &
Electric Co. and the Washington Rapid
Transit Co. The stock closed with
bid and 10 asked.
State and municipal bond issues sold
to the public during June totaled $685.
s56. 366 as compared with S53,977,276
during May, according to the Daily
Bond Buver. The total for June, 1882,
was s85 ,5B8.430. The total of all State
and municipal financing for the nrst
six months of 1898 was S407 ,866.370, as
compared with S523,116,103 for the cor
responding period of 1882.
Hobson g. Co., in the Tower Build
ing, are notifying clients that during
the past quarter Incorporated Investors
added over S4,500,000 worth OF common
stocks to it's holdings, II new companies
appearing in the June 80 portfolio.
Chase Continues Largest Bank.
Chase National Bank continues the
largest in the country with deposits OF
sl.408,3 ,337,158, followed by National City
with s1.134, ,750257 and Guaranty
Trust with ST ,087 62l ,195. The latter's
deposits were below $1,000 600 on
March 81 last.
Operating earnings of the leading
hon and trust conn