Evening star., 1933-08-03
D. c. BANKS HIGH
N AREA RANKING.
YMee Are Listed Among Ten
/ Largest in Fifth Federal
Reserve District.
BY HAROLD ROGERS.

Three Washington banks are nsted
among the 10 largest commercial banks
"a the fifth Federal district, according
to a survey conducted by the Rand NC
Nally Bankers Monthly Magazine.
The banks are the Riggs Natlonai
Bank, the American Security and irust
Co. and the National Metropolitan
Bank. The table was computed by the
magazine based on the figures from
banks statements submitted June 80,
in response to the last call OF the Con-
troller of the Currency.
The 10 largest banks in the fifth dis
trict, ranked in order OF their oeposltS,
are as follows:
First National Bank, Baltimore Slo4'3o9'46o
Risgs National Bank. -o,,ssoA
First WAsnehs snd Merchants ere National .oao,,,,
Bank, Richmond, Va 43'-sl'4''
Winston Salem, N. O.. 4l.666'S11
American Security & Trust Co, ,,.,. ooo
s'ase ro fisnie1 Riebmond ianA o....... 295ol.112
Maryland Trust Co, Baltimore. GOODWILL
AmsIaSa1n AGhaT1otte ifps' S. o' e3,5e6,717
National Metropolitan Bank 90 oa-a4a
Washington ........'... ~-''' ''
In commenting on the table the mag
azine explains further that the re-
opening of some banks to operate with
out restrictions is likely to change the
list somewhat by the time OF the next
call"
The largest reorganization OF banks
here is the Hamilton National Bank
proposed merger. which expects, &C
cording to present prospects. to nave
deposits to start with more than Sll,.
600 900. which represents so per cent OF
the deposits in the eight member banks
OF the merger.
Steady Progress Made.
Progress is being made steaoily on
plans to open the Hamilton Bank, put
no date has been fixed for the opening.
Efforts also are under way to reopen
the Franklin National Bank alone, out
side of the merger. According TO ON
cial information, considerable WORK re-
mains to be done before this bank can
reopen. Several problems are SAID sun
to be faced by the Franklin. but none
of them is believed to be insurmount-
able. National bank examiners now are
at work in the institution making an
other examination to determine now
much the condition of the bank may
have improved since it was put in the
hands of conservator March IA.
Negotiations still are under way be-
tween the Washington Mechanics SaV-
ings Bank and the Mount vernon SaV.
ings Bank for a merger under terms OF
the so-called Spokane plan, but no final
decision has been reached in the mat
ter The Mount Vernon Bank still Is
in the hands of a conservator. while
the Washington Mechanics Savings
Bank is operating 100 per cent.
The Treasury Department IS IN the
market again with another Offering OF
9l-day bills, to be sold next Monday IN
the sum of about S75,000,00O to the
highest bidder The bills will be dated
August 9, and will mature November .;
The proceeds will be used to retire an
equal amount of similar securities,
which fall due on August 8.
Rail Credits Liquidated.
The Railroad Credit Corporation,
which was set up by the railroads to
administer funds derived from emer-
gency rates granted by the Interstate
Commerce Commission under ex parte
1O3, now is engaged in liquidatlng It's
affairs and on August IS will make an
other repayment to the participating
carriers, the corporation announced to-
day.
The first distribution to the partici-
pating carriers was made on July IS.
1885, at which time they received 4
per cent of the amounts they have paid
into the corporation of S2,989,771, OF
which amount 81 ,221 1892 was paid In
cash and the remaining $l,767,879 was
credited on the obligations of carriers
indebted to the fund.
The second distribution to be made on
August Is will amount to l per cent of
the amounts that the participating car
riers have paid into the corporation,
or S742,4
This will mean that when the second
distribution has been made. total OF
$3,732.17 will have been repaid to the
participating carriers.
The National Coal Association, from
incomplete car loadings reports, est1-
mates bituminous coal production in
the United States for the week ended
July 20, as about stats 900 net tons.
Production for the corresponding week,
1882, 4,637, 600 tons; 1881, 6,884, 900 tons.
The report of the Bureau of Mines
shows production of 6.965.00 tons for
for the week ended July %, 1888.
Heard in Financial District.
Myles H. Quail, a member of the
stock exchange here. is convalescing at
home from a recent illness and is ex-
pected to be back soon at his office
with Y E. Booker & Co.
Arthur D. Marks, jr, and Samuel s.
Kaufman have joined the general in
surance agency of Wolf g. Cohen. Inc,
with offices in the Homer Building
which was founded in 1878. The firm
recently was incorporated. with C. B.
Narkle. president; w. Olive Murray
vice president; Samuel S. Kaufman
treasurer, and Arthur D. Marks, jr., sec
retary
Marks and Kaufman are natives Of
this city and graduates Of Central High
School Mr. kaufman, after gradua-
ton from high school, joined the Wolf
g. Cohen agency. Mr.. Marks began his
business career with the Acacia Mutual
Life Insurance Co.. after graduation
from Syracuse University.