Evening star., 1936-11-05
DEPOSITS MOUNT
!. IN FIFTH DISTRICT
Richmond Reserve Reports
Loans Continuing to
Increase Also.
BY EDWARD C. STONE.

Banks in the Fifth Federal Reserve
District report deposits are piling up
steadily and that loans continue to
increase.
The Federal Reserve Bank Of Rich
mond announces that Al member
banks in IL selected cities noted q
tween September 8 and October IA,
loans on stocks and bonds increasing
by 100000 and all other loans, chief
~ commercial or industrial, gaining
t4,690,000.
These reporting banks increased
their investments in securities by $18,-
$4,000 between September 8 and Oc-
tober IA. and cash in vaults rose by
$4,000. Aggregate deposits in the
Al institutions advanced $1s,353 900
in the four weeks under review, de-
mand deposits rising by $16,996 900
and time deposits increasing by
s1,357,0o0.
Details from the printed report re-
ceived from Richmond today show
that time deposits in member banks
and aggregate deposits in IL mutual
savings banks totaled $408, ,669,29 at
the end Of September, higher figure
than the $406 ,88l ,796 at the end Of
August this year or s394,655,s58 at
the end of September, 1885.
Building permits in this district in
81 cities in September totaled 2,S03,
with an estimated valuation amount-
ing to $6,s57,223, an increase of 8
per cent in number in comparison
with September, 1885, and a gain Of
1l.3 per cent over September, 1885,
valuation figures, totaling 1854, ,79l.
Contracts awarded in September for
construction in this territory totaled
$40, 800 500, as compared with $l4,-
6s2,3o3 awarded in September, 1885,
the report says.
Pratt Heads Building Group.
Walter S. Pratt, jr., was reelected
president Of the Equitable Cooper
ative Building Association at the an
nual stockholders meeting late yes
G. Meem, vice president; Gilbert
Grosvenor, vice president; Edward l.
McAleer, secretary, and j. Harold
Mcdowell, assistant secretary.
The shareholders reelected the
following board of directors: Ralph
p. Barnard, Frederick " Coville
Charles H. Doing, Gilbert Grosvenor.
Arthur B. Heaton, Robert L. Lewis
E. L. McAleer, Harry G. Meem, Theo-
dore w. Noyes, Arthur Peter, w. S.
Pratt, jr., and Frank j. Stryker.
President Pratt presented his report
covering the company's activities
during the ffty-seventh year, show
ing the best business progress in q
long time. The increase was notable
IN all departments, he said. the num-
Der Of loans having increased as well
as the number of stockholders.
Mr.. Pratt reported growing interest
fn savings, much renovation among
older properties, much real estate
changing hands, both for occupancy
and investment.
Baird Speaks Over Radio.
Bruce Baird, vice president and
trust ofdcer of the National Savings
& Trust Co., was to give an address
this afternoon over Station wMAI. on
Banking as a Career" The address
vas sponsored by the Vocational Guild
ance Committee Of the Washington
Kiwanis Club. .--. ----. q.
Avon M. Nevius, vice president of
the Riggs National Bank, is back at
his desk after an annual Fall yachting
cruise to Florida. He made the trip
with G. M. Robinson and reports fine
weather conditions. He found Florida
getting ready for another record VIM
ter tourist season.
Notices were posted in brokerage
Offices here today announcing that the
New York Stock Exchange will be
closed on Armistice day, next Wednes-
day, November IL. With election and
Thanksgiving, brokers will get three
holidays this month. One broker said
today that in view of the present
Roosevelt bull market" he thought
the holidays were coming too rapidly
The broker houses do not wish to close
often If there are to be very many
5000, ,ooo-s days.
Auchincloss Adds Partner.
It was announced in the financial
district today that G. Russell Mac.
Gregor has become q special partner
In the New York Stock Exchange firm
Of Auchincloss, Parker & Redpatn.
The firms head office Is in Washington
and other offices are maintained in
New York, Baltimore, Philadelphia
and Wilkes-Barre.
The investment firm of William W.
Mackall, jr., is distributing among
clients survey prepared by Fidelity
Fund, Inc, on recent international
monetary agreements. The survey
notes the possibility of an information
Al devaluation race at some future
lime and says that investors should
keep this possibility in mind when
considering investment problems. The
Burvey adds that the business outlook
for the rest Of the year is good with
little chance of any change in the
major business trend.
President Willard G. Barker of the
Morris Plan Bank Of Washington, has
been named chief of the Atlantic
States group of Morris Plan Banks,
Including these institutions in New
York, Pennsylvania, New Jersey, Della
ware, Maryland and the District Of
Columbia. One of the youngest bank
presidents In the city, Mr.. Barker has
had banking experience of more than
Us years. He became chief executive
bf the Morris Plan Bank of Washing
TON last July.
Today's Trading on Exchange.
Warrington Gas IS, 1860, were
ttrong on the Washington Stock Ex-
change today. $1,000 again selling at
the high for the year Of 1875. Capital
Traction IS were In demand, three
$1,000 and two $500 sales being re-
corded at 921z, against a high for the
gear of 93H.
Mergenthaler Linotype is now being
quoted ex dividend, with 81 bid and
b6 asked. Other bid and asked prices
were strong, with few changes.
October bank clearings in Balti-
more reached the highest total for