Evening star., 1935-10-04
DEPOSITS MOUNT
IN CAPITAL BANKS
sFinancierS Predict Large
I Gains Will Be Shown
Z by Next Call.
BY EDWARD C. STONE.


dicted TODAY that aggregate deposits
in the % banking institutions in the
city will show substantial gains fol-
lowing the next call for condition is
sued by the controller of the currency.
It is believed that total deposits will
not only be we'll ahead of the figures
on the call of June 90 1885. but also
a aood deal above the totals for the
call OF March 4, 1885.
Total deposits carried in the Wash
ington banks last March aggregated
s275 ,226,55185. BY June they had
dropped to S266 6,586 1882, a decrease
of notable proportions, partially due
to the intangible tax. The fact that
deposits are now believed to be higher
than the March figures is Of great
importance for the reason that the
March totals were the highest since
the Nationwide bank holiday.
If the aggregate deposits pass The
March figure by considerable mar
gin, they will be near to the all-time
high mark for Washington. 1t is also
stated in the financial district that
some individual banks are likely 70
report the largest deposits they have
ever had. That will be a remarkable
record in view of the low interest rates
on savings deposits that the banks are
now paying, and will present a strlk-
ing illustration of the confidence that
the banks have regained, due to a
great extent to the protection sup
piled by the Federal Deposit Insurance
Corp.
Farm Prospects Brighter.
The Federal Reserve Bank of Rich
fnond reports this week that prospects
in agriculture in the fifth reserve dis
trict are better than they were last
year at this season, and while prices
for the leading crops, cotton and to-
bacco, are lower at the present time
than a year ago, increased yields indi-
cate that farmers in this district will
probably have at least as large incomes
this year as they did in 1884. Sup
plies of food and feed crops are abun-
dant, the review says.
The August commercial failure rec
ord in the fifth district was less
favorable than the national record,
although fewer insolvencies were re-
ported than in August last year.
Failures in the district totaled 80,
compared with 80 in July and with
81 in August last year. Aggregate
liabilities last month amounted to
Sl,43l,2 POT, compared with S601 1923 in
July. 1885. and only S440,6 in August.
1884. Fewer failures were reported
for August this year than for August
last year in only four of the II Federal
Reserve districts. while lower liabilities
were reported this year in six districts.
Textile mills operated at a higher
rate in August than in July, adding to
pay rolls in that industry. Tobacco
factories continued operations at about
the same rate in August, although out
put did not quite equal the record
month of July Work in construction
fields was more easily obtained in
August this year than in August last
year. Fall harvesting operations are
giving more work to agricultural work.
ers than they were able to obtain dur
ing the growing season, the bank re-
/, port asserts.
Bank Sees Confidence Gains.
This months survey by the Guar
anty Trust Co., received here today,
says:
I Further bases for confidence in the
business outlook have been found in
the developments of the last few
weeks. One of these, of course. is the
adjournment of Congress without en-
sctment of some of the more drastic
Legislation that was proposed.
Another is the statement of the
president intimating that the founda-
tions of the administrations program
have been substantially completed and
that the actions of the executive and
legislative branches of the Govern
ment are likely to be less unsettling to
business in the future than they have
been in the recent past
"A third is the prompt and orderly
settlement of the bituminous coal
strike. except for a few thousand
workers. reported on September 26
after suspension of operations last
ing only six days, described as the
shortest in the history of the industry.
"At the moment the most diScon-
certing influences are found in the sit
uation abroad"
Acacia Wins Special Honor.
The Acacia Mutual Life Insurance
Co. has won place as one of the
so direct mail leaders in the United
States and Canada for 1885, an award
of the Direct Mail Advertising Asso-
ic hn rrth
Acacia has been given this honor and
is said to be the only company that
has received the award that number
of times.
E. M. Thore, assistant counsel of
the Acacia Mutual Life Insurance
Co. is scheduled to deliver a paper
before the legal section of the Amer
ican Life Convention at Chicago
Monday. October 7. The paper is
entitled Right to Offset Mortgage
Indebtedness Against Death or Dis
ability Claims"
The Department of Commerce re-
ports that rural sales in the United
States in August were per cent
above July sales and II per cent in
excess of those recorded in August,
1884. Sales during the first eight
months of 1885 were 22.5 per cent
ahead of last year
The Securities and Exchange Com
mission has asked the Investment
Bankers Association to continue its
work on a code of fair practices be-
tween dealers. also aimed at the bet
ter protection of investors. 1t is
hoped that some code along the lines
of the code for the members of the
American Bankers Association may
be worked out.
!. Securities Here Are Strong.
prinaS firm thu rn