Evening star., 1936-01-28
BANK COMPLETES
ENl lA9CED BRANCH
Ame' 4 Security Invites
FlDIc to RemodeIed
Northeast Office.
BY EDWARD C. STONE.


pany, who added that customers and
the general public have been invited
to formal inspection of the branch
od1ces tomorrow and Wednesday dur
ing the daytime and on both evenings
up to o'clock.
The building has been greatly en-
larged and provided with distinctive
new equipment. Finished in Botticino
and Belgian marbles the main banking
room is equipped with all modern
banking facilities. Bronze was selected
for the lobby tables as we'll as for the
tellers' frames, which are of lew modern
design. A new vault with twice the
capacity Of the old one has been in
stalled. The vault is of even more
secure construction and served by the
latest protective devices.
Originally opened in March. 1906. as
the northeast Office of the Home Saw
1ngs Bank, this branch has enjoyed
consistent progress during its 80 years
OF banking service to Northeast Wash
ington. In 1919, at the time of the
merger with the Trust Co.. that office
became the northeast branch of the
Trust Co.
The Trust Co. has capital and sur
plus of $6,800000 and resources of
$53,000,000 according to its recent
published financial statement It has
four other banking offices, including
the main Office, at Fifteenth street and
Pennsylvania avenue
Harry P. White, assistant treasurer,
Is manager of the northeast branch and
the company's Advisory Board of
Branches includes the following busi-
ness and professional men of that Sec
ton who serve in an advisory capacity
Tor the northeast branch: John M.
Beane, DR.. William E. Bradley, Sidney
l.. Hechinger, L. A. Herman, Dr. A.
Magruder Macdonald, James c. Nealon
and Henry Wahl. The president of the
Trust Co. is Corcoran Thorn. Howard
Moran, one of the vice presidents is
very actively interested in operations
at all the branches.
Collections Lag in District.
The Federal Reserve Bank of Rich
mond reported today that 27.3 per
stores at the beginning of December
were paid during the month Wash
1ngton was behind the fifth district
average of 28.9 per cent and of other
important cities. Richmond reported
80 per cent collected, Baltimore 90
per cent and group of other cities
29.3 per cent
dVY 70,
sales in Washington were 1875 per
cent ahead of December, 1884. and
for the full year 1885 we're 1873 per
cent better than in the previous IL
months. The average gain for the
whole district in December was rs
per cent and per cent for the whole
year 1885
Stocks on hand in Washington
stores at the end of December were
SIS per cent higher than at the end I
of December, 1884, but 224 per cent
lower than at the end of November.
1885. During 1885 stocks were
turned 1857 times in the stores here,
a more active turnover than reported
for the entire fifth district. All the
figures reveal notable mercantile
prosperity in this territory in 1885 |
with the stores in the Capital holding
the best records.
Insurance Firms Assets Gain.
The Washington Office Of the Kan
sas City Life Insurance Co. reports
that total assets at the end of the
year 1885 were $8l672,13O. an in
crease of S8,205 ,846 for the IL months.
At its annual meeting the company
voted the regular semi annual divi-
dend of So a share, all officers and
directors also being reelected.
The company paid out $6,853.645
in claims during the year. which corn
pares with s8,319,O23 in 1884. The
excess year ago was due to larger
surrender of policies The company's
report shows that holdings of Govern
ment bonds have doubled since the
end Of 1884, but holdings of other
bonds changed little. Total bond
holdings amounted to $29,578,291
against $17,363,374 on December 81,
1884.
The number of farms sold by the
Federal Land Banks increased by 80
per cent last year, according to the
Farm Credit Administration. Farms
sold in 1885 numbered 8,788 against
4,S65 in 1884. The land banks re-
ceived for the farm $29,215,OOO in
1885 against s17,6O0,000 in 1884. The
ratio Of the price received to the vary
ing value of the farms was 1905 in
1885 against 1901 in 1884
Good Investment Year Seen.
Y. E. Booker president of the
Washington Stock Exchange and
member of the Board of Governors
of the Investment Bankers Associa-
tion, has returned from the Mid
Winter meeting in New Jersey, optim-
1stic on the outlook.
According to Orrin G. Wood, presi-
dent Of the association, large VOL
ume of funds is apparently awaiting
investment at a fair return, and there
is every indication that 1886 will see
q continuation of refunding operations
which were the outstanding feature
OF the investment banking business
last year. Considerable thought is
also being given to new capital re-
quirementS which will also become an
active factor if present improvement
in general business conditions con-
tinues, he told the governing board.
Ofdcials of the Securities Exchange
Commission here made practically the
same predictions today. They see
several important new issues coming
In the near future.
Mergenthaler Sells at Al.
Mergenthaler Linotype scored a new
peak for several years on the WASH
ington Stock Exchange today. four
10-share lots sold at ~. The market
closed with ~ bid and 4712 asked.
The stock sold at Al in Boston yes
terday.
Bonds were in lively demand on the
local exchange today, Capital Traction
81 moving at 91L AnacoStia &