Evening star., 1936-11-10

and announced
that several similar meetings would
be held during the Winter months,
the aim of which will be to bring all
the employees together for general
discussions on various phases Of bank
operations and their relations to the
public interest.
In brief address President Robert
v. Fleming spoke Of the Importance
of bringing TO the public clear un-
derstanding Of the services rendered
by the banks, drawing timely advice
from his broad experience as q
financier.
The guest speaker was Frank M.
lotion, vice president of the Chase
National, who talked on the general
subject OF customer and public re-
lations. For several years Mr.. lotion
has been a member of the Educa-
tional Commission of the American
Bankers Association. One Of the
chief objects Of the commission has
been to keep the public better in
formed on banking matters.
The New York banker has made
many addresses before State bankers
associations and the Institute of
Banking. His address last night was
most practical and at the same time
he injected much humor into his
remarks.
George o. Vass, one of the vice
presidents Of Riggs National and also
cashier, announced that class in
public speaking would be carried on
this year in charge of Charles T. Akre
of the trust department, who won
many prizes in his school DAYS as
elocutionist. The program ended with
buffet supper.
$6.o00,000 In Yuletide Funds.
1t was learned in the financial dis
trict today that more than $4,000 900
in Christmas Savings Club funds will
be distributed to over $4,000 members
early in December
This is the largest amount which
has been saved by club members in
the Capital since 1882 and will be a
powerful factor in boosting Christmas
trade totals in the stores here. Last
year the total amount subscribed was
s5.27o575, while the exact amount
subscribed this year was S6.3329l5.
The Christmas Savings Clubs are
sponsored by the various banks in the
District Bankers Association Coop
erative advertising having proved a
boon In making the amounts sub
scribed per capita here very much
larger than in the clubs in the rest
Of the country.
The committee which had charge
Of this years club included Robert l..
Flather American Security & Trust
Co.. chairman; Frank r. Ulmer, Ma
tional Savings & Trust Co.; Thomas
j. Groom, Bank Of Commerce 4, Saw
ines; Nelson B. ONeal, Riggs Ma
tional: Eliot H. Thomson, Washing
ton Loan & Trust Co.. and E. Per-
cival Wilson, National Savings g.
Trust CO.
Report Shows d. C. Bank Status.
The Federal Deposit Insurance Corp.
recently reported the amount of assets
and liabilities of insured banks as of
June 80, 1885, which includes all %
OF Washington's insured banks in the
list. At the end Of June these % banks
carried total cash, balances with other
banks and items in process of collec-
tion amounting to $ll2,204,000. They
had total direct obligations of the
United States Government in the sum
Of s74.222,000 and total obligations
fully guaranteed by the United States
Government totaling s23, 3,2l2,000.
These same banks had other secur-
tiles amounting to $27,95l 900, while
loans. discounts and overdrafts stood
at $59.824, 900. Miscellaneous assets
amounted to s22,124,0 900 and the %
banks in the Capital had total assets
Of $3.50. 1877, 900.
The report reveals that the banks
had total time and demand deposits
on June 80 in the sum of $306, ,4l3 900.
They had a total capital account of
S42,59l 900 and total liabilities. includ-
ing the capital account, of $3.50 .627 600.
Banks Earning Assets Lower.
Total earning assets of the Federal
Reserve Bank Of Richmond declined
by s3,l7l 900 between the middle Of
September and the middle of October
decreases of s2,50l 900 in Govern
ment security holdings and $715,000
in industrial advances contrasting
with small increases OF $4,000 in
discounts held and $1,000 in foreign
loans on gold.
Federal reserve notes in actual cir
rulation rose seasonally by sl1,344,-
900 between September Is and Oc-
tober IS, the rise being accounted for
principally by marketing Of tobacco
and cotton. Member bank reserve
deposits at the Federal Reserve Bank
Of Richmond rose by s7,7o6, 900 during
the month under review
The several changes in the state
ment previously mentioned. with
others Of less importance, raised the
cash reserves of the Richmond bank
by Ss,S97, 900. and the ratio of cash
reserves to note and deposit liabilities
combined by s2/looths of 1 point.
Banks Open Armistice Day.
All the banks In Washington will be
open as usual tomorrow. Armistice
day. The New York Stock Exchange
houses here. however, will be closed
as the Wall Street tickers will be
silent. The Washington Stock Ex-
change will also be closed.
The one-day session OF Northern
Virginia bankers will open tomorrow
morning in Alexandra and continue
throughout the day. There are S3
banks in the territory comprising the
third district, an attendance Of more
than 225 members being anticipated.
Robert v. Fleming will be the guest
speaker at the dinner.
Mergenthaler Linotype sold ut 81, q
new high. on the Washington Stock
Exchange today in one Of the busiest
markets in weeks. woodward d
Lothrop common came out at 66, near
the best price Of the year, and many
FathNr iSxIleg anrsoar ~, the hoa rd