Evening star., 1934-10-26
One More Bank in List.

The number of banks operating in
Washington has been increased by one
since the June call. The Industrial
Bank has been added to the banks
now operating on 100 per cent basis
1t had been reported for some time
that aggregate deposits in the banks
here were growing steadily. Today's
report, however, exceeds all expecta-
tons.
Bankers said this noon that better
business conditions were the main
reason for soaring bank deposits. There
has been nothing else in recent weeks
to cause such boost.
The figures covering Washington
retail trade have been showing ad-
vanceS every week since the last bank
call. Bank clearings have also revealed
marked gains in comparison with the
same periods year ago. The number
of telephones put back in service and
the number of telephone calls have
also been increasing rapidly lately. as
have postal receipts.
All these favorable factors are re-
f1ected in the advance of over $780,
100000 in bank deposits here.
National Gains Anticipated.
1t was also expected in financial
quarters here today that the national
bank call will reveal huge gains for
the Nation as a whole. The esti-
mates today were placed between
$500,00000o and $1,000, 900, 900.
There have been bank calls every
Autumn since 1914 with the exception
of 1918 and 1926. While the law re-
quires three calls, four are usually
issued. The June call is meyer omitted,
as it comes at the end of the Govern
ment fiscal year.
1t was said in the financial district
today that the June tax bills always
cut down the amount of money in the
local banks. The decrease due to tax
causes was made up largely by the
middle of July. The gains since have
been based almost wholly on business
improvement, bankers said The
growth in population here was also
mentioned as a factor.
Collections Report Made.
Collections in Washington's retail
stores during September made an
average showing, being 24.3 per cent
of the receivables due the first of the
month, the Federal Reserve Bank of
Richmond states. Richmond collec-
tions were 81 per cent of bills due,
Baltimore stores took in 246 per cent
of their receivables, group Of stores
in other cities collected 26.2 per cent,
while the average for the whole dis
trict was 249 per cent.
The number of times stock was
turned in Washington stores between
January and September 80 was
2.793; in Richmond, 2.82; in Balti-
more, 2.48; group of other cities, 2.456,
and 1885 times as the average for the
whole fifth district. The number of
times stocks were turned in September
was reported as 0.3333 in Richmond,
0.2S6 in Baltimore, OBS in Washington
and O.316 as the district average.
The Richmond bank also reported
the stocks on hand in 81 department
stores in this area, compared with the
end of the previous month. Stocks in
Washington stores were 10 per cent
higher at the end of September, 10
per cent in Richmond and 10 per
cent IN balClmOre, ana IL pei CeuL al
the district as a whole.
Store Stocks Smaller.
Stocks of goods on hand at the end
of September this year compared to
September 80, 1888, showed drop OF
l8 per cent in Washington, II per
cent in Baltimore, 10.9 per cent in
the whole district, but were IA per
cent higher in Richmond.
\ AS already noted, sales in Washing
con department stores were 15.9 per
cent higher than in September year
ago and 1872 per cent higher for the
first nine months of 1884 than they
were in 1898. Sales in this city were
ahead of the September average for
the whole area and also ahead in the
nine months average, the report
showed.