Evening star., 1933-07-25
riggs GOTH IN list
. Of FIRST l0OBANKS
Nationwide Comparison
Based on Deposits Report
ed at June 80 Call.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Riggs National Bank now ranks
eixtieth place among the first 100
largest banks In the United States.
according to . comparison Of the big
gest financial institutions tn the eoun-
try. based on deposits.
The Washington institution stood
seventy-fifth In the list on December
81, 1892, when the last comparisons Of
deposit totals were made. On that
date the banks deposits amounted to
$62, ,191 .662. while on June 30. 1888. de-
posits in this bank had climbed to $70,-
l25,824. e.
The American Banker has been pub
fishing the names Of the banks In the
first 100 class. The first IS were listed.
then the next Is and now the banks
from SO to 100 have been announced.
Other banks which are nearest TO
National Bank, Atlanta, Ca; California
Bank, Los Angeles; First National Bank
Philadelphia; First National, Pitts
burgh: United States National, Port
land. Oreg; Commercial National Bank
& Trust Co.. New York: Peoples Pitts
burgh Trust Co.: Merchants National
Bank, Boston, and Marine Midland
Trust Co., New York.
The Jump from seventy fifth position
TO sixtieth since the controllers call at
the end of 1892 Is one of the best gains
scored by any bank In the list.
S14,70o,e 100 In Lie Insurance.
Residents Of the District Of Columbia
annually invest approximately l4,700,-
600 in life insurance and annuities, It
Is disclosed in . report from the Lin
coin National Life Foundation, Fort
Wayne. Ind.
Prom insurance statistics for 1882
1t has been determined that the average
man invests Z cents out Of every dollar
he earns in either life insurance or an
nuities," the report explained,
District of Columbia residents, num-
bering 4s6, ,869, or almost four-tenths of
! per cent Of the total population of
the United States, had m estimated
total income In 1882 Of 1911 ,000, 900.
BY directing cents out of each Of those
dollars toward life insurance, they In.
vested $14,700, 900 IN this single chan
mel"
Hundreds Thfong Takoma Bank.
Oficers and directors Of the Citizens
Bank and the Citizens Building, Inc,
Takoma Park, were hosts last night to
several hundred vihtors who inspected
the new bank building 1T the corner
Of Carroll and Laurel avenues
Heading the receiving line was Luther
c. Cannon, president OF the Institution;
the other ofncers and directors assisting
including Lawrence v. Lampson. vice
president; Stanley T. Mcneil, secretary;
H. ]. Carr, cashier: G. r. Wilson, as
sistant cashier, and Directors Clarence
3. Smith. Wade H. Atkinson, Peter
1ovneer HAnvu Alliances TSs,il n~r.
her, Alexander Sterling, H. H. Votaw,
p Pope. Harry I. Houston, Thomas
Manley, John D. Miller, C. C. Pulver,
Matthew Trimble. jr., Z. L. Richmond,
w. B. Williams and Alexander Nc
Kenzie.
An orchestra furnished musical
selections throughout the evening and
souvenirs Of silver paper back memo
randum books were distributed to the
guests. The bank of1cials escorted their
guests through the various parts Of the
bank and the ofnces and stores adjoin-
ing. Many banking ofncials from the
National Capital called Nduring the at
home" and extended hearty congratu-
lations.
30,55s,1o5 in $500 Banks.
Information relating to the number
and size Of deposit accounts IN men,
pcf Ud1lAc, COucCbCO W -tIle COuLkOuSI
of the currency for national banks and
by the Federal Reserve Board for State
member banks, Is OF May Is, 1888,
show that the total number of licensed
member banks was $500 and their total
deposits were $23, ,542, ,307 900. Alto
gether they had 30,556,lo5 deposit ac-
counts
OF these accounts e6.sG were in
amounts Of $2.500 or less, the average
being $lS9. While the number Of ac-
counts Of more than $2,500 was rela-
lively small, constituting only $50 Of
the total number, the amount of funds
held in the larger accounts constituted
76.3% Of total deposits Of the banks.
Accounts Of over $4,000 numbered
less than $4,000, and constituted small
fraction Of the total number Of ac-
counts, but these accounts averaged
1921, 900 and In the aggregate held 45%
of total deposits Of licensed member
banks.
Today's Trading - Exchange.
Business was more active on the
Washington Stock Exchange today
tomac Electric Power 81 per cent pre-
ferred which sold ut 10SK.
Washington Gas Light stock came
out on the board today for the, first
time In some weeks, three shares
changing hands at 60A. Mersenthaler
Linotype appeared during the session,
10 shares selling At 20.
Woodward q Lothrop preferred moved
on two small sales ut lot and Potomac
Electric Power 5h per cent preferred
came out again at m advance to 1881.
It closed at 108Ez.
In the bond division, Potomac Elec-
trio Power IS sold on . $500 turnover
at 108 Washington Gas Light Is, series
Later 81 900 moved at 1oSN and 81 900
more at 104.
Heard in Financial District.
Fnncis z. Robey, assistant cashier
of tho Bank of Commerce & Savings,
is on his annual vacation and now Is
on a motor trip in New York State.
Later he viii 60 to Ocean City, Nd.
The strong opening Of the New York
stock market again today brought cheer
to the crowds In brokers offices here
when the tickers started OF at II
O'Clock. Following yesterdays strong
close many overnight advances were
noted.
Secretary of Agriculture Wallace has
estimated that the total volume Of the
first wheat benefit payments to farm
ers around September will be about
sec. 900 600
This will represent about two-thirds
of the amount to be paid to farmers.
The other third viii be paid next Spring
when the farmers give proof that they
have fulfilled their contracts by re-
ducing their acreage in an amount
specified by the Department Of Agn-
culture up to 20 per cent.
The campaign to sign wheat farmers
to acreage reduction contracts will COM
mence about August l..
The amount Of 1irst payment per
bushel Of the domestic allotment Of
each farmer will be 40 cents. The Sec
ond will be from to 10 cents,
Commodity Prices Slump.