Evening star., 1934-01-23

dSO' SdpIldl VI tllS &3{4
first 100 is S1,163,-
$4,000 as COM William d. Hoover.
pared with ST 325,-
$4,000 year ago. Surplus and un-
divided profits of the first 100 totaled
$l,3l7,056,000 as compared with ST.,
621 ,296,000 a year ago
Through purchases of preferred stock
and capital notes by the Reconstruction
Finance Corporation the Government
had capital interest in 10 of the first
100 banks totaling S2l8200000 at the
year end. This figure has been ex-
panded two or three hundred million by
additional sales of notes or preferred
stock to the large banks of the country
made after the year end.
No. 100 on the list is the Crocker
First Federal Trust Co. of San Fran
cisco with deposits of s42,272. .329. No.
200 on the list is the Bridgeport City
Trust Co., of Bridgeport, Conn, with
deposits Of S1S,295,34 Only 278 COM
mercial banks or trust companies in
the United States have deposits of more
than S10.000,000.
Feature of the years roll call of the
Nations great banks was the National
Bank of Detroit, which placed twenty
third, with deposits of S189 693, ,074,
after opening as an entirely new insti-
tuition March "a, 1888.
w. d. Hoover's 25th Election.
William D. Hoover, one of Washing
tons leading bankers, was reelected
president of the National Savings g.
Trust Co. for the twenty-fifth time at
the annual meeting of the directors
the other day. He first took charge
OF the institution in January, 1909. For
seven years before that date he had
been connected with the trust company
as attorney and trust officer, being
elected to the latter position in 1902.
Under his guidance the bank has
made enviable progress. Before be-
coming a banker, Mr.. Hoover was vice
president for five years and director
of the Real Estate Title Insurance Co.
Born and educated in the Capital. he
IS a graduate of the Georgetown Uni
the District of Columbia Bar. How
ever, he never entered private practice,
preferring to be associated with cor
porations.
Mr.. Hoover is director of the Nor
folk & Washington Steamboat Co. and
the Terminal Refrigerating e. Ware
housing Corporation. A thirty-third
degree Mason, he also is member of
the University Club, Metropolitan, Law
yers'. Burning Tree Country and other
clubs and attends the Episcopal
Church. He is a cousin of Herbert
Hoover, although several times re-
moved.
Bankers Agree on improvement
General stability of business activity,
an increase in the aggregate volume of
employment. considerable increase in
income of wage earners, a large increase
in the income of farmers. and an in
crease in net profits of large corpora
tions during the second and third quar-
ters of 1888 are the outstanding fea-
lures of the Federal Reserve Boards
January bulletin on business conditions.
1t appears, therefore, the board assert
ed, that trade and industry enter upon
the year 1884 at considerable higher
level of activity than that which pre-
vailed in the early months of 1888"
Washington bankers are in full agree
ment on the improvement reported by
the Reserve Board. So far as this
city is concerned, economic and busi-
ness conditions were much better at the
beginning of 1884 than at the start of
1888
Latest reports indicate that trade is
holding up we'll in this territory. Bank
deposits are said to be larger than on
December 80, the date of the last call
partly due to the fact that all de-
positS up to S2,500 are now protected
by insurance Civil Works Administra-
tion pay roll expansion is another vital
factor
Institute Banquet Omitted.
The annual banquet of Washington
Chapter, American Institute of Bank
ing, which has been held every year for
the last % or 20 years around Wash
ington's birthday anniversary. will be
emitted this year, according to chap
ter officials.
The annual dinner will be given up
In order that the institute may con-
centrate all efforts on the national con-
vetion which meets here next June. 1t
was decided in chapter circles that 1t
would be better to forego the big an
nual dinner, save the expense and con-
serve all energy for the convention.
In years past this dinner has been
. highlight of the season in chapter
affairs National officials always at
tend. the national president usually
being the leading guest speaker. De-
spite the depression, the chapter din
ner was held last year as usual and
proved great success. Some of these
banquets have been attended by nearly
OUU ulclIlUelS dllu SutSCS
Gossip in Financial District.
@. Bowie Chapman, manager of the
Washington Office of Laidlaw g. Co.,
will leave the Capital tonight for a
short vacation in Florida. He had
planned to pass several weeks at Miami,
but the recent sharp increase in activ-
ity on the New York Stock Exchange
may interfere with his previous inten-
tions.
John R. Waller, president of the In
ternational Bank, jackson place, has
returned from a short business trip to
New York. He found sentiment greatly
improved in Wall Street. there being
much enthusiasm over the outlook De-
serted brokerage offices are again
crowded with customers.
Hans Klehmet, vice president Of
Gillet & Co., Baltimore. visited the
local Office today He also attended
the session of the Washington Stock
Exchange where he was extended the
privileges Of the floor.
Robert c. Jones, head of the invest
ment firm by that name, has returned
from vacation trip to Florida.
Today's Trading on Exchange.
Capital Traction stock sold at Is on
the Washington Stock Exchange today.
Norfolk & Washington Steamboat stock
moved at IS for three shares. and Wash
ington Railway & Electric preferred
came out at "a.
Mergenthaler Linotype registered 26
on two 10-share sales. Fourteen shares
of Real Estate Mortgage & Guarantee
preferred sold at l, the market closing
with l bid and l y asked.
In the bond division. two 81 900 sales
in Capital Traction IS took place at
81 and $500 Washington Gas SIS, 1860,
changed hands at l0324