Evening star. [volume] (Washington, D.C.) 1854-1972, 1935-10-03
BANK LOANS Up
IN FIFTH DISTRICT
Total at Richmond Reserve
Increased $1,018,000
in Four Weeks.
BY EDWARD C. STONE.

in the fifth Federal Reserve district
increased their loans with the Reserve
Bank of Richmond by $l,018,000, de-
tails from the monthly review received
here today show Loans on stocks and
bonds rose by 1865 900, while all other
loans rose 1858 900, the report says.
The reporting banks decreased their
Investments in securities by $6,216,000
between August IA and September IL.
Aggregate reserve balances of the %
banks at the Federal Reserve Bank
rose by $18,585 900 during the month,
and cash in vaults increased by ST.
S25 900. Demand deposits rose by
S10,284 900, but there was small
decline in time deposits amounting to
$598,000.
The banks built up their reserve
balances at the Federal Reserve Bank
by $19,9l6000 during the past year,
and also increased their investments
in securities, chiefly Governments, by
$l2,532, 900. Cash in vaults rose by
S692,000. Aggregate deposits increased
S23 1888 900 between the middle OF Sep
TENDER last year and this, demand de-
posts gaining $40, 100000 and time de-
posts S2,543,000.
Deposits Above 1884 Mark.
Time deposits in % member banks
and aggregate deposits in II mutual
savings banks totaled $337,817,077 at
the end of August, 1885. lower figure
OF ho nd
of July this year, but an increase over
S327,095, 161 at the end of August,
1894. Mutual savings bank deposits
increased while time deposits in the
reporting member banks decreased, but
both groups of banks showed increases
in time and savings deposits for the
year, today's report states.
Aggregate debts in the reporting
cities declined s25 $4,000, or 90 per
cent, in the latest four weeks, COM
pared with figures for the preceding
like period, only IL of the % cities
showing higher figures. The cities re-
porting increased debts last month
were Asheville, Durham, Greensboro
and Wilmington, N. c.; Charleston
and Greenville, S. c.; Danville, New
port News, Richmond and Roanoke.
Va, and Huntington, w. Va.
In comparison with debts to indi-
vidual accounts figures for the four
weeks ended September IL, 1884, the
figures reported for the corresponding
period this year show an increase of
S84,260, 900, or 1913 per cent. Twenty
of the % cities reported higher figures
for the 1885 period, the three cities
which failed to gain being Charleston,
w. Va; Durham. N. c., and Norfolk,
Va, the review adds.
Building Gains Revealed.
Building permits issued in August
in 81 leading cities of the fifth reserve
district numbered 1923. compared
with 2123 permits issued in August,
1884, an increase of 23.8 per cent this
year, and estimated valuation figures
for last month totaled $4,570, 1923. an
increase Of 1913 per cent in COMPARE
son with valuation figures totaling
$3,268,252 in August last year.
Twenty-six Of the 81 cities showed
higher valuation figures for the 1885
month. All of the five largest cities.
Baltimore, Washington, Richmond,
Norfolk and Charlotte, increased. High
Point, N. c., and Clarksburg, w. Va,
made the best records in estimated
valuation figures in August, 1885, pop
ulation OF reporting cities being taken
into consideration.
Contracts awarded in August for
construction work in the fifth district,
including both rural and urban prof.
ects, totaled S23,273,287, compared
with s12,110,714 awarded in August,
1884. Of the awards in August this
year, S5,340,632, or 22.9 per cent, was
for residential work, while last year
residential contracts totaled S1,806,-
354, or l49 per cent of all awards in
August, the Richmond bank con-
cludes.
Heard in Financial District.
George L. Starkey, president of the
National Bank of Washington, will
leave washington tomorrow for a two
or three week vacation, part Of which
he will spend at Hershey Inn, at
Hershey, Pa, and the remaining time
taking motor trips in the mountains.
George w. White. president of the
National Metropolitan Bank, who has
been confined to his home several
weeks with Illness is reported to be
making steady improvement. He
keeps in close touch with affairs at
the bank and is expected back at his
desk before long.
Rolfe E. Boiling, president of the
Liberty National Bank, another Wash
ington banker who is i'll, recently left
Emergency Hospital and returned to
his residence at the Wardman Park
Hotel. He is reported to be gaining
steadily and is expected back at the
bank soon.
Hartman & Keech, members of the
New York Stock Exchange, announce
the admission of William j. Cunning
ham to general partnership in the
firm.
G. M. P. Murphy & Co. and Charles
D. Barney & Co., new stock exchange
firms with Washington Offices, took
part in the public Offering of 242, TOO
shares of H. L. Green Co. common
stock. q variety chain store organiza-
ton.
Brokerage Offices Crowded.
Even standing room was hard to find
in the brokerage offices here when
the New York stock market opened
today. War fears and rumors packed
the boardrooms with traders, specu-
lators and conservative investors In
a very lively market early selling was
fairly well absorbed. Boardroom OBJ
servers believe the market will be hot
and cold" as the European news comes
along, present trading being very
largely professional.
William c. Worthington, general
agent here of the National Life Insur-
ance Co. Of Vermont, reports a gain
Of % per cent in national business in
the first eight months of this year
and 16 per cent for August, a steady
gain which he thinks clearly reveals