Evening star., 1936-12-10

r .,I,u person compares
with a national
average of S184 or a gain for the
whole country of S. per capita.
The 1886 record in the Capital,
however, discloses a gain in savings
accounts of 17.8 per cent over 1925
and a more sensational gain over 1916,
savings per inhabitant having scared
289.1 per cent in the last two decades,
according to w. ESpey Albig, deputy
manager of the American Bankers
Association, who has just presented
the results of a survey OF the savings
situation all over the United States.
Maryland banks have a total of
S399, 100000 in savings deposits or
$240 per capita. a gain of So per
person over 1885, or 1.3 per cent
Savings are per cent lower per in
habitant than in 1926, but 98.3 per
cent higher than in 1916. Maryland
has 842,83 savings depositors, a gain
of 36,290. Virginia has S238,958,0 900
in savings deposits. or $91 per in
habitant, held by ,654 depositors.
West Virginia has s116,080000 in
savings, s64 per person.
"a deterrent to savings has been
the low interest rates which tend
to draw surplus funds away from saw
ings in banks and find investment
in the buying of durable goods, and
in the purchase of life insurance
To some degree this loss has been
counter-balanced by the opening of
accounts by new depositors,' Mr..
Albig asserts.
Dividend and Bonus Voted.
Directors of the City Bank have
Just declared a dividend of per cent
on the capital stock, payable January
Is to stockholders of record January
s, President c. F. Burton announced
today. This action does not mean the
establishment of a regular dividend
rate. Dr.. Burton explained. as it is
the policy of the directors to pay divi-
dends when and as earnings and con-
ditions justify.
The directors also voted to pay a
bonus to the employees equal to one
half of their average monthly salaries.
Plans were made for this bonus in
September but the announcement was
delayed until such time as the direc-
tors should consider the question of
o dividend. This is the second Wash
tngton bank to announce Christmas
bonus.
The board of directors of the Ana
costa Bank, meeting yesterday de-
clared a per cent dividend, to stock
holders of record December 81. pay
able December 81. Cashier w. L.
Koontz reported the best earnings for
any period in the history of the bank
Retail Trade Up Per Cent.
Department store sales in the fifth
Federal Reserve district, which in
cludes Washington, in November were
per cent higher than in November,
1925, the Federal Reserve governors
announced today. Trade in the fifth
district in the first II months of
1886 was 10 per cent ahead of the
like period a year ago. Fifty-three
stores reported from 27 cities.
The boards seasonally adjusted in
dex advanced to SO per cent, the high
est level since the middle of 1881.
Sales in the whole IL districts aver
aged per cent higher in November
and 10 per cent in the / months than
in the same periods last year. Cleve-
land district made the best November
gain, IA per cent. while Chicago and
Dallas were up 13 per cent. The re-
port covered SAT stores.
Babson to Be Here Saturday.
A lot of interest is being mani
tested here in the address by Roger
w. Babson to be made Saturday FORE
noon at the Raleigh Hotel on the out
look for 1887. Mr.. Babson believes
Washington will share to the maxi
mum in the coming prosperity. It is
said he will talk about imitation posi-
bilities as we'll as business. The meet
ing will be in charge of Walter D.
Landry, Washington representative of
the Babson organization. The public
Is invited and questions on business
and investment problems are to be
permitted.
Group Opposes More Banks.
Luther A. Harr, secretary of bank
ing for Pennsylvania and chairman of
the Executive Committee of the Ma
tional Association of State Banks, an
rounced here today that legislation is
to be sought in the next Congress to
reduce permiscuous chartering Of
banking institutions.
The association is made up of past
and present supervisors of the 48
"a ho MI hn ho-
ing authorized at meeting held in
Washington last week. The commit
tee considers the easy chartering of
financial institutions as of vital i'm
portance, especially because the fow-
ing tide of recovery is leading in
competent groups to apply for bank
charters in some communities which
are already adequately served, Secre-
tary Harr asserted.
100000 Accounts Protected.
More than 81 00,0o0,oOO in savings
Of some 100000 persons are now
protected up to $1,000 each by in
surance issued by the Federal Saw
ings g. Loan Insurance Corp, it was
announced today. The billion-dollar
1ilc1 D was PdScCd La 4NONCAllbCl, WAiCAA
80 additional savings, building and
loan associations received certificates
of insurance, bringing the total Of
these institutions so protected to
1924.
These insured associations are 10
Gated in 80 States, Alaska and the
District of Columbia. Although the
maximum individual protection afford
ed is $1,000, approximately SO per
cent of all accounts are insured to
the full amount, since most accounts
are less than $4,000. Ohio, with 143
insured associations and $4,000 in
dividual members, leads all other
States.
Heard In Financial District.
Virginia Beach, Va, received bids
today on $4,000 bonds, to be dated
February !, 1887, and maturing from