Evening star., 1934-11-04
$256,630,881 Total Dis.
closed by Controllers
Call of October II.
STEADY PICKUP CITED
IN CAPITAL BUSINESS
General Improvement in Conf
dence Reported to Have Attract
ed Funds From Hoarding.
BY EDWARD c. STONE.

An increase of S39, ,422,3O719 in
aggregate deposits in Washington
banks in the last II months was re-
vealed yesterday when complete fig
ures were compiled on the results
Of the controllers call of October IT.,
1884, by Audley A. P. Savage, auditor
Of the National Savings g. Trust Co.
The survey shows that total de-
posits in % Washington banks on
October II of this year aggregated
S256 ,630,881.35, while on the date
Of the comparable call year ago. Oc-
tober rs, deposits in the banks here
totaled only $217,208.57416.
The analysis further shows that
there was gain of s2O,478,45l. 80
between Controller O'Connors condi-
tion call of October II and the call
OF June 80 Of the present year. De-
posits in the local banks on June 30
amounted to 1886 l52. .42413, while by
October II they had mounted to the
above stated figure of well over
$256, 900 900.
Comparisons also brought out the
fact that aggregate deposits in the
% OoAAho 1ldNC IlOW passed Jno
total reported on the first call issued
atter the Wall Street crash in 1929.
and have nearly reached the figures
attained just before the break.
Ihe boom broke between the con-
trollers calls of October and Decem-
Der OF 1929. On October 20. 1929,
the local banks reported total deposits
OF $3.50 589, ,885.64. while on December
81 Of that year they stood at s255,-
7S3,3 .85. or about s1OOO,00O lower
tnan they are at present.
The review shows that deposits IN
washington banks now are almost
exactiy the same as they We're in
March, 1880. On March 81. that
year they totaled S256,87O,920.9 Bv
June 80 OF the same year they had
Climbed to s262,052, ,926.88.
Many Reasons for Gains,
Many factors are assigned in ex-
planning the Jump of over $4,000 600
IN deposits in the past three months
and more than S39.00O.OO in the past
year. A steady pickup in business is
given as one of the chief reacons,
retail trade here having scored sib-
stantial improvement so far this wear.
according to monthly rercrts. The
sum total OF money paid to depositors
in closed banks, which are still in
liquidation, has been another factor.
1t is reported by bank officials that
good deal Of money which had been
boarded in safe deposit vaults, has
come back into the bank vaults in
recent months. In fact, it is believed
the general improvement in confidence
has reduced the popularity of hoard
Ing until there is comparatively little
money now hidden away.
Growth in the Capitals population
has brought many new accounts TO
the banks, swelling deposit totals
Some bankers note swing back toward
thrift and savings. the sum total of
these savings adding a substantial
amount to deposits. There are scores
Of other reasons. In a nutshell, Wash
ington is steadily and rapidly work
ing out of the depression.
Mr.. Savages analysis shows that all
groups of banks, national savings and
trust companies, have shared in the
past three months advance Deposits
in national banks gained S12 ,925, ,486 40
over the June figures. Savings de-
posits were up $l,70l, ,745.80 and tlust
company deposits mounted $5,85l,-
22493 The deposits of individual
banks were as follows: