Evening star., 1936-02-07
INCREASE SHOWN
IN SECURITY
Borrowing on Bonds, Stocks
Stages Rise of $685. 900
in Fifth District.
BY EDWARD c. STONE.

lust received here reveal That between
December IL, 1885, and January 8,
1886, loans at the reporting banks
rose by S5, 5,096 900, loans on stocks and
bonds rising s685,000 and all other
loans increasing $4.411, 900. Invest
ments in securities rose by $33, 1929 900
during the month. but aggregate re-
serve balance of the Al banks at the
Federal Reserve bank declined by SILL
1000, and cash in vault decreased by
S1.731 200. Deposits dropped l2,569.-
600 between December IL and January
8, demand deposits decreasing Sl2,-
249,000 and time deposits declining
$32O,00o.
In comparison with condition fig
ures as of January 9, 1885, those for
January 8, 1886, show increases in all
items except loans on securities, which
dropped S4447,000 during the year.
On the other hand, all other loans
rose $ll $4,000, giving net increase
in total loans amounting to $7,476,000
during tn year. Investments in Sc
curities, chiefly Government issues,
rose by S23,061 900 between January
9 last year and January this year,
and aggregate reserve balance of the
reporting banks at the Reserve bank
increased by $27,645,0OO during the
same period
A substantial increase occurred in
deposits during the year, demand de-
positS rising by s29,38l, 900 and time
deposits gaining Sl,544,000.
Debts Highest Since 1881.
In comparison with debts aggre-
eating 1892 ,491 900 reported for the
Jour weeks ended January 9, 1885.
this years figures for the correspond
ing period show an increase of S122,-
45l, 900, or 131 per cent, all of the
% cities increasing this year except
Charleston, W. Va, and Raleigh, N c.
Total debts in the % reporting
cities for the calendar year 1885
showed an increase of $l,248, i 30 900,
or 114 per cent, in comparison with
total debts in 1884 All of the re-
porting cities except Durham show
higher figures for 1885 than for 1884,
Aggregate debts in the fifth district
last year were higher than debts in
any other year since 1881.
Building permits issued for work
within the corporate limits of 81 fifth
district cities numbered 1861 in De-
cember, 1885, with estimated valua-
tion figures totaling S4,300,507, COM
pared with LAS permits issued in
December, 1884, for valuation total
of $1,9l3,866. The number of permits
in December increased IS per cent
and valuation figures rose 125 per
cent in comparison with the figures
reported for December, 1884.
Contracts awarded in December for
construction work in the fifth district,
including both rural and urban prof.
ects, total 1924 ,683, compared with
Sl3,698,803 awarded in December.
1884, the Richmond Bank announces.
Underwriters Laud Congress.
The 240 Washington life under
writer's who attended the eighteenth
annual Maryland and District of Co.
1umbia Congress in Baltimore, are
most enthusiastic over the record at
tendance and the addresses. At the
morning session, addresses were de-
lvered by Alexander Patterson. Chi
cago, vice president of the National
Underwriters Association, and by Car
roll B. Merriam, member of the board,
Reconstruction Finance Corp. and a
director of the Metropolitan Life In
surance Co.; also by George B. Harris
of this city. and John w. Boynton
Of Baltimore
At the afternoon session, John D.
Wright Equitable Trust Co., of Balti-
more, delivered an address on Taxa
tion in Relationship to Life Insur-
ance." and Robert N. Waddell, Pitts
burgh, former foot ball coach at Car
negie Tech, delivered an address on
Fighting Through"
Dwight T. Scott, Mutual Benefit.
Washington, enlivened the session,
with an address in which was blended
wit, pathos and human interest stories
which carried the audience to the
heights of merriment and also left an
impress Of the more serious aspect of
the life underwriters services to his
clients and their families.
Leon Fishel and Miss Evelyn r.
NuSSear of Baltimore, gave impressive
Ghort talks on. the Maintenance of
Weekly Production" The presiding
chairman for the afternoon session
was Paul H. Primm of Washington.
Bankers to Attend Dinner.
Fifteen members of Washington
chapter, American Institute of Bank
ing, will attend the annual banquet of
New York chapter tomorrow night.
This is said to be the largest delega-
ton the Capital has ever sent to the
dinner. Those planning to attend in
clude:
]. Earle McGeary, w. B. Hibbs &
Co.; Paul j. SeltZer, American Secur-
ity & Trust Co.; William H. Laughlin.
washington Loan & Trust Co.; Kath-
arine w. McCalmont, w. B. Hibbs &
Co.; Frank M. Perley and A. Stanley
Holland, American Security & Trust
Co.; Richard A. Norris and James A.
Soper, Lincoln National Bank; l. j
Roberts and Constance D. Fogle, Riggs
National Bank; Vivian z. Stokes,
Hamilton National Bank; Gertrude c.
Wick and Myrtle P. Lewis, Liberty
National Bank; G. Elmer Father,
Union Trust Co., and Robert G
Whitton. First National of Alexandria
Flat Rate Margins Likely.
Chairman Eccles of the Federal
Reserve Board has again limited that
the new board may substitute fiat
percentage system for the present
sliding scale of margin requirements
in stock market trading. He believes
the present system is too complex anc
expensive. The move will be hailed
with enthusiasm by all brokers as sc
many traders at present find it almost
impossible to figure their own mar
gins.
w. w. Spaid, back from sojourn al
st. Augustine, report that Florida i:
having its best Winter tourist season
since the beginning of the depression
in 1929. The tourist rush is so great
ct Miami and other resorts that the
f e.. T.