Evening star., 1935-11-05


had been forecast in the financial
district for some time. Riggs Ma
tional reported the highest deposits
on any call in its history. Several
other banks made similar reports.
Third Call of the Year.
Under the law the controller is
REQUIRED to issue at least three calls
q year for statement of condition.
He may issue as many more as he
deems necessary.
Today's call is the third this cal
endar year. indicating that national
banks will report four times 1t has
been the practice to time one call at
the end Of the calendar year. This
supplies the Treasury with data for
comparative purposes.
The November / call came at
particularly good time for the banks
here to make brilliant showing. The
Government pay roll on the first Of
the month caused the usual grand
rush OF Federal workers to deposit
their checks.
Deposits during the last Of October
are always high, partly on account of
the Fall trade pickup. This trade
advance was much larger than q year
ago, according to reports from the
Richmond Reserve Bank.
Insurance on all deposits up to
$4,000 is also assigned as most i'm
portant reason for the big advance in
bank deposits. The insurance plan is
given credit for the notable return in
confidence and at the same time has
brought large sums Of money back
into the bank vaults.
Today's report will be most graft
flying to Washington bankers. Their
only regret will be that they cannot
put the increased funds out at more
satisfactory interest rates.
Today's Trading on Exchange.
Washington Gas SIS, 1858, were In
the best demand on the Washington
Stock Exchange today Of any issue on
the board Five 81 900 separate sales
ware recorded at los. Washington Gas
IS, 1860, came out in 81 900 transfer
at 118.
Washington Railway g. Electric pre-
ferred stock figured in two 10-share
and one flve-share sale today at LOT.
There were no sales in Washington
Railway & Electric common stock,
which jumped into the linelight last
week when the North American Co.
announced plan for putting out new
stock in the place of this issue. The
bid. however. moved from $500 a share
to $3.50. None was offered at any
price, yesterdays $500 asked price not
appearing today.
Stockholders of Emerson Bromo-
Seltzer. Inc, have been called into
extraordinary meeting November ls
at the Offices Of the company in Balti-
more TO consider merger of the Emer-
son Drug Co. Of Baltimore and Emer-
son Bromo-Selzer, Inc. The proposed
merger has been approved by the
board Of directors of both companies.
The "A" stock is listed on the Wash
ingtoa Exchange.
Heard in Financial District.
A special feature of the American
Bankers Association convention at
New Orleans will be series of con-
structive customer relations confer
ences which will serve as a clinic for
the consideration Of experience and
practice in this field. Several deyel-
opments have occurred during the
year in the Nationwide customer re-
lations program of the association. it
Is stated, which will be discussed for
the frst time in a national Way at
the coming convention.
Charles w. Smith, attorney and GER
titled public accountant of Baltimore,
Will address the auditors section of
the District Bankers Association at an
open meeting this evening at the Ham,
1lton Hotel on the Social Security
Act" Dinner will precede the address.
The meeting date was moved up from
November IA to accommodate the
guest speaker and also for the con-
venience Of the delegates to the New
Orleans convention who will be away
next week.
Theodore E. Gero has become a spe-
cial agent with the Mutual Benefit Life
OF New Jersey, being associated with
II. Lawrence Choate, general agent for
Washington. Mr. Gero, a native of
Massachusetts,, has resided in WASH
tngton since 1918. He is a graduate
Of the Benjamin Franklin University,
class Of 1885.