Evening star., 1935-09-08
Substantial Gains Since
June Condition Call Are
Indicated.
D. c. EXCHANGE RESUMES
TRADING ON SATURDAY
Institute Students Here to Get
Diplomas-Brokerage Offices
Jammed to Doors.
BY EDWARD c. STONE.

are expected to reveal substantial
increase following the next condition
call issued by the controller OF the
currency. Such a call is now looked
for early in October. as one usually
comes about that time.
Both checking deposits and savings
deposits are said to have made marked
advances since the bank call issued on
the last business day of June. While
definite figures will not be at hand
until the next call, bankers in the
Capital have been much impressed
recently with the amount of money
that has piled into their institutions.
The old-time virtue of thrift con-
tinues to manifest itself as savings
deposits are being quietly increased
and many new accounts started. 1t Is
reported that the new depositors in
clude people in every walk in life.
Naturally, there are host of Govern
ment workers in the lists, but the
names of a lot of people appear who
are not connected with Uncle Sans
activities.
lllC SdIlkC SlIudtIOll ID bNA4lS
reported in other sections of the coun-
try. Rober. C. Glazier, president of
the National Association of Mutual
Savings Banks, commented during the
week on the stability of deposits and
the number of new accounts constant
1y being opened. A similar report
comes from the New York State Saw
1ngs Bank Association.
The June bank call in Washington
revealed a gain of $9.742 ,032 in de-
posits in the first six months of this
year and more than $30,000,000 in the
previous II months. The October ag-
gregate deposit figures will be awaited
with unslsual interest. 9.
Exchange Open on Saturday.
The Washington Stock Exchange
resumed Fall Saturday sessions yes
terday after the Summer suspension.
Business was practically nil. Just one
sale was recorded, 10 shares of Po-
tomac Electric Power 5l2 per cent
preferred stock selling at 113%
Volume Of trading for the week, how
ever, was satisfactory, prices in both
stocks and bonds being well main
tanned.
Members of the Washington Ex-
change turned much of their attention
to the New York Exchange yesterday
special comment being heard on the
advance in American Telephone to a
new high for the year, 143l4. New
high marks in General Motors and
other issues also drew comment. Sit
ting bulls" who have been awaiting a
more active stock market, are said to
have been standing up most of the
time during the last few Wall Street
sessions.
1t was noted here yesterday that
the directors of Safeway Stores, Inc,
which Is affiliated with the Sanitary
Grocery chair, have declared a quar-
terly dividend of so cents per share
on the common stock, payable October
! to stockholders of record September
10. Regular quarterly dividends of
$l,75 per share on the 7 per cent
preferred stock and $3.50 per share
on the 6 per cent preferred stock
were also declared, payable October
! to stockholders of record Septem-
ber 10.
Rewards for Junior Bankers.
Graduates in standard courses in
Washington Chapter, American In
stitute of Banking, will be awarded
at the Fall open meeting at the Will
lard Hotel, tomorrow evening. The
program has been arranged in CO.
operation with the national COM
mencement exercises and will be fea-
tured with radio address by DR.. Ru-
fus Won Kleinsmid, president of the
University of California. This ad-
dress will be made part of the local
program between $3.50 and 9 o'clock.
Charles H. Doing. president of the
District of Columbia Bankers Asso-
citation, will present the organizations
greetings and Dean Raymond B.
Dickey will make a brief talk. Prizes
will be awarded winners in the W. w.
Spaid golf tournament Dancing is to
follow the graduating program.
Members of the District Bankers
Association have just received printed
books containing the complete pro-
ceedings Of the last annual convention
held at White Sulphur Springs, w.
Va. All the addresses are recorded
in full, as are the reports of all stand
ing committees and summaries of the
work of the Fiduciaries, Safe Deposit
and Auditors Sections. Election of
officers in the association and in the
A. B. A, the member and guest list,
much other very interesting matter,
are included. The convention was gen.
orally considered to have been one of
the best yet held. The record is most
attractive.
Heard in Financial District.
The standing room only sign was
out again yesterday in the brokerage
Offices here. Business may want
breathing SPELL" but the brokers
don't. They want volume and they
had it yesterday. It was two-hour
Saturday session that will long be re-
membered.
The Treasury plans to run a series
of three lads" in national magazines
this month and next concerning its
''baby" bonds. This will mark the
first time the Treasury has advertised
United States savings bonds through
any medium except posters.
The Broadway Savings Bank, Balti-
more, has made available for depositors
an additional 10 per cent of the funds
withheld at the time of reorganiza-
tion in 1888, when rs per cent of de-
posts were made available and the
other IS per cent placed in special
guarantee fund.
Arrangements have been made for
the sale of New York Stock Ex-
change membership at $4,000, up
$4,000 from previous transaction.