Evening star., 1935-01-20
Peoples and PepCo Pre-
ferred, With Washington
Gas 5S, at New Peaks.
DEPOSITS OF HAMILTON
CLIMB TO $16,421,OOO
Bank President Compares Year
End Total With $9,627 900
at Close of 1888.
BY EDWARD C. STONE.

Prices of both stocks and bonds on
the Washington Stock Exchange were
strong when the market closed the
week yesterday. So far in 1885 the
local market has given an excellent
account of itself.
Peoples Drug Stores preferred stock
inquired IN the first sale yesterday, ap-
pearlng on the board at 112. This
is a new high mark for the present
year.
Potomac Electric Power per cent
preferred stock came out at Ill on a
small sale. the quotation being un-
changed from other recent sales and
also at the high point since the turn
OF the year. Potomac Power 5l2 per
cent preferred also sold at its 1885
high mark yesterday, 11114, on a light
turnover.
In the bond division, WASHINGTON
Gas IS, 1858, registered a $1,000 sale
at 1O2, gain of q since the last sale,
likewise new top on this move. The
same corporations SIS, datei 1860, sold
Friday at Ill, while the B bonds moved
at 103, making strong finish for
these securities.
Capital Traction SIS made good
showing during the week, several
sales taking place Friday on an ad-
vance to 81. In the last few sessions
Washington bank stocks have also been
considerably more active, some at ris-
ing prices. The same may be said of
several other issues The week also
was important because Of the annual
election of officers, Y. E. Booker being
advanced tn the rrpSiSpnPU
Hamilton's Deposits Grow.
President E. C. Graham of the
Hamilton National Bank reported to
the stockholders at the annual meet
ing that deposits had grown from
$9,627,000 on December 80, 1888, to
$16,421 900 on December 81, 1884. He
also stressed the distribution of de-
posits, reporting gain of II per cent
in the main Office during the year, and
ST per cent at the branches. All the
branches showed gain, he said, the
lowest advance being 80 per cent and
the highest lis per cent.
President Graham expressed pleas
ure in reporting that the 900.
carried on the balance as .s"due from
receivers of closed banks" had been
paid in full with accrued interest
He added that $47,686 of organization
expense had also been absorbed in full
from operating profits in 1884. Two
years had been allowed, but this item
was wiped out in Is months, the re-
port said.
The bank operated at loss during
the first three months after it was
organized in 1888 Mr.. Graham pre-
dicted it would begin to make a profit
in December, 1884, which it did.
Operating profits in the first quarter
were S10,315.95, in the second S14,-
18499. in the third quarter $15,940 27
and in the fourth quarter $22 ,624 "A,
q total for the year of S63,065.65, Mr.. |
Graham said, after the charge-off
for organization expense.
Operating Net Augmented.
The operating results were augment |
ed during the year by net profits |
from transactions in Government |
bonds and other securities and miscel- |
laneous incorporating credits total |
ing $206,632.27, against which were |
charged off losses and established re-
serves totaling S48,072.78, leaving al
net profit from all sources of |
1921 ,616.14.
OF this amount, the president |
stated, the bank had reserved the sum |
of Sill, ,18463, being the equivalent |
of the premiums paid on the purchase |
of United States Government secur-
tiles, so that all such securities are
now carried at cost or par, whichever |
Is the lower. This leaves a final credit |
to undivided profits for the years |
operations of $110,431.51.
Mr.. Graham stated that four of the |
branches are on a profitable basis |
now and that the other three should |
be in short time. He also said that |
the trust department was getting a |
most encouraging start.
5o,422,4s7, 900 Accounts Safe.
Total deposits of 14,125 insured
banks amounted to $37,019, TAP 900 on |
October /, the Federal Deposit In
surance Corp. announced yesterday. |
Insured deposits aggregated $16,452,-
$4,000, or A per cent Of the total, |
while uninsured deposits were $40 |
SGT 100000. OF 51,245, ,242,oO0 ac-
counts in the banks, 50,422, ,497 900 |
were insured in full.
Sales of general merchandise in |
rural areas were 81 per cent greater |
In dollar volume during 1884 than in |
1888, the Commerce Department an
nounced. Daily average sales in De- |
cember were 20 per cent above De-
cember, 1888. A 20 per cent rise was |
also recorded from November to De-
cenber, comparing with an average |
increase in this period of 15h per |
cent for the past five years.
The Interstate Commerce Commits
sion has granted authority to the |
Norfolk & Western Railroad to build |
80 miles of road in Buchanan County, |
Va, to tap new coal deposits. It is |
estimated the new line will cost |