Evening star., 1935-01-22
ROLL CALL LISTS
SIX BANKS HERE
Capital Institutions Rated
Among 800 Largest
in Country.

Among SUU LdTYeSl
in Country.
BY EDWARD c. STONE.
Six Washington banks were listed
today as among the 300 largest COM
mercial banks in the United States,
by the American Banker, in the
papers annual copyrighted roll call,
compiled after a study of the deposits
of 1920 of these institutions. The
banks in the Capital, listed with their
rank and deposits as Of December 81,
1884, include:
= Rires National Bank, SO 3" 3":t nG2 ,fs
100 American Sec. &, Trust Co 3SSI1.459
49, Natl Metropolitan Bank. :442o.55I
80 Wash; Lean X trust CO. i3'9,nti '332SS
@5S Natl Savings & Trust Co. l3.66o S"S
For several years Riggs National has
been well inside of the first 100 largest
banks. ranking siXtieth in the list IN
1888 and Seventy-fifth in 1882.
The year 1884 represents the great
est deposit gain ever seen among the
Nations banks in single year-S4,-
00,O00000 being added to the totals
of the first 100 banks alone, boosting
deposits to the near-reCord t1gure OF
1892 ,329,827, which is higher than
the 1929 boom year total. and within
l per cent of the $50, 100000 peak
figure for the first 100 banks reached
at the end of 1880.
Deposits in Sharp Rise.
This gain of deposits in a single
year. according TO the American
Banker, is indicative of the tremendous
deposit money imitation which is
taking place, due to the twin forces
of the dollar devaluation and Federal
budgetary deficits.
The usual infationary effect of
huge increase in the money supply
was negatlved in 1884 by the DISPOSE
ton of business men and other de-
pOsitors to pile up large idle cash
balances and concentrate them IN
banks under the protection Of Federal
insurance rather than risk them in
business or investment.
Total deposits in the Nations COM
mercial banks jumped from S33,000.-
100000 to S40OOO,O0O 900 during 1884
it is estimated. These figures are eX-
elusive of Sl0,000000.000 in mutual
savings banks.
The year-end figures show that the
first 10 banks in the country now have
total deposits of S9623, ,93l, ,596 or more
than "a per cent of the Nations COM
merCial banks deposit total. The first
25 banks have deposits of Sl4,750,-
693. $50. or 81 per cent of the Nations
total. The first so banks. with deposits
of Sl8.296 .52O.57O have 46 per cent OF
the Nations gross. while the 100
largest banks constitute SIS per cent.
Quarterly Dividend Voted.
Directors have declared a quarterly
dividend of 40 cents per share on
EmerSon's Bromo Seltzer "A stock,
payable February l to stock of record
January "a This is the same as the
payment three months ago. The
company'S "A stock is listed on the
Washington Stock Exchange, with l8
bid and 81 asked.
1t is announced in the financial
district that Richard Whitney, presi-
dent of the New York Stock Exchange,
will make three short addresses over
the radio in the near future, in the
exchanges goodwill campaign. The
first one will be January 30, at 7:30
pm, on The Investor and the Sc
curities Market"
The Federal Reserve Board an
nounceS that NJ j. Flemming. deputy
governor of the Federal Reserve Bank
of Cleveland since 1920. has been
elected governor to succeed the late
E. R. Fancher. The new governor has
been with the reserve bank since it
opened in 1914 and got his early
banking training in Pittsburgh.
Governors of the Investment Bank
erS' Association favor continuing the
investment code after June 16, no
matter what Congress does to the N.
R. A. President Ralph T. Crane al
ready has appointed a committee to
make plans for such continuance.
Y. E. Booker is chairman of the Code
Committee covering Washington and
nearby States.
Will Advertise for Loans.
The financial advertising outlook for
1885 is encouraging, according to first
returns of a survey being made among
members of the Financial Advertisers
Association by A. R GruenWald, chair
man of the General Research Com
mittee for the association, which IS
composed OF the leading commercial
banks and other financial institutions
of this country and Canada.
Twenty-four per cent of the report
ing members will increase their adver-
tiSing appropriation for 1885. 64 per
cent report plans at least to maintain
the same advertising space as in 1884,
While only 4 per cent report that ad-
vertising expenditures will be de-
creased
A feature of the research report is
the indication that one-third of the
member banks plan to advertise for
loans
Today's Trading on Exchange.
Riggs National Bank common stock
sold at 2l3 on the Washington Stock
Exchange today, II shares changing
ownership This is the same as other
recent sales, also the high mark for
the present year.
First sales in today'S market we're
in Potomac Electric Power 6 per cent
preferred stock, at Ill. The same
corporations 5l2 per cent preferred
stock was also strong, small sales being
recorded at 112.
Potomac Electric Power bonds we're
strong. $1,000 IS. 1858. moving at
11012, the days only bond sale. Cap
ital Traction 5S, which figured in an
exceptionally large turnover of more
than $4,000 total sales yesterday,
recorded an $4,000 sale today at 81
and closed with 902i bid and 81 =
asked.
officials of the exchange report the
very interesting fact that there are a
great many more bids for issues than
can be filled at the prices offered.
Holders of many of the leading bonds
and stocks are not willing to part