Evening star., 1934-01-05
Deposits in Local Banks.

WASH. Loan q 1IuSI IO,ZUO 900
Wash Mechanics SaTngs... 2,518,764
Il was reported in the flna ancial dis
trict today that since December 30. the
date of this CAL. deposits in the banks
here have scored further increases. Two
main reasons are ascribed as the cause
one the guarantee of all accounts up
to $500 and tho other the fact that a
good many small sums of money are
understood to be coming out OF
boarding
Controller O'Connor's call not only
asked for the condition of all natIoHa!
banks, savings banks and trJ cr-
panies in the District, but alSO Included
credit unions These credit unions were
established by an act of Congress sew
eral months ago. They are Crganiza-
tions in some of the Government de-
partments where certain emp'oyes are
delegated to handle savings funds Tor
their associates.
Fine Six-Month Sales Record.
Surprising improvement in buying
power during the last half OF 1858 Is
reported in the fifth Federal Reserve
district by the Bank of Richmond.
Fall trade was better than for several
years, the review says. Better condl-
tions were especially notable in the
Carolinas. which had suffered more
than the Virglnias and Maryland.
Time deposits in % reporting men,
Der banks and aggregate DEPOSITS in
II mutual savings banks in Baltimore
totaled S3l1, ,7O6,039 at the end of
November, the report showed figure
lower than either S314.431,540 re-
ported at the end of November last
year
In discussing employment. the re-
port said that calls for relief from
charitable agencies and public well
fare departments are about as heaVy
this Winter as last The condition
ton of surplus funds which the work
erS had saved to tide them over
periods.
Higher cotton and tobacco prices
were the chief reasons for the COM
plete change in the business picture
New Bond Issues Lower
New State and municipal bond is
sues reported approved by voters dur
ing the month of December totaled
$l66.245,650 as compared with S224,-
586 .O32 during November, according
to the Daily Bond Buyer. December
totals for previous years were ST.
85l 900 in 1882. s13479,811 in 1881
and SlO,461 100 in 1880,
entire year 1888 was S507.l2l 176 as
compared with S132.195.642 in 1882.
S474469 522 in 1881 and S626.0593 337
In 1890.
The greater part of last months
total is accounted for in a single item,
Sl7O.OOOOOO by the voters of the
State of California for the Central
Valley water project. Other large
items were S3.OoO.OOO City of San
Francisco, Calf; S2,000,000 Davidson
County, Tenn. Sl,520,000 Phoenix,
Ariz, and S1,OO0,000 Springfield, Mo.
Today's Trading on Exchange.
Several small transactions in Capital
Traction stock were recorded on the
Washington Stock Exchange today, all
made at 14l2. Railway & Electric
preferred came out at 83l2. Washing
ton Gas IS, 1858. figured in $1,000
sale at 30, and Washington Gas IS,
1860, moved to the extent of $500 at
1O3l4.
The First National Bank of Balti-
more declared an extra dividend OF so
cents per share and the regular quar-
terly dividend of so cents both being
paid January 2 to stock of record
January 2.
James Fogarty, newly elected
president of the North American Co.,
has often visited the washington oftlceS
of the Potomac Electric Power Co. and
the Washington Railway g. Electric
Co He already has many friends here.
Securities issues filed for registration
under the security act totaling over
Sl9,0OO,00O are published by the Fed
eral Trade Commission. Approximate
ly S4,OO0O00 of the total amount is
involved in proposed reorganization
plans.
In no case does the act of filing
with the commission give to security
the commissions approval or indicate
that the commission has passed on its
merits, or that the registration state
ment itself is correct Effective dates
of these statements will be announced
later