Evening star., 1936-10-04
DEPOSITS SHOW
MARKED INCREASE
T IN FIFTH DISTRICT
3eptember 9 Total Rises
$685. ,423, 900 Above Same
Date Year Ago.
CAPITAL STORE VOLUME
CLIMBS DURING WEEK
Bank Clearings Here Drop Behind
Previous Week and 1885 Period.
Tourists Increase.
BY EDWARD C. STONE.

BY EDWARD T.. STONE.
Aggregate deposits in Al member
banks in the fifth reserve district,
which includes Washington. have in
creased substantially during the last
year, the Federal Reserve Bank Of
Richmond reported yesterday in the
monthly review. Total deposits on
September had increased during the
year by S65, ,423, 900, demand deposits
gaining s60,579, 900 and time deposits
$4,844, 900.
The report adds that time deposits
In the Al banks and aggregate de-
posits in II mutual savings banks to-
tailed $4o6, ,8S1, 1876 at the end of Au-
gust, 1886; slightly higher figure,
S406, 1853, ,420 at the end of July this
year, and also larger than $685., ,303,077
at the end of August, 1885. This is in
line with reports from other reserve
districts. which reveal that bank de-
posits are still climbing.
Building permits issued in August
In 81 leading cities of the fifth reserve
district numbered 1922. compared
with 2,618 permits issued in August,
1885, an increase Of 11.6 per cent this
year. and estimated valuation figures
totaled S7,081,510, an increase of $40
per cent in comparison with valua-
tion figures totaling $4,570 ,329 in Au-
gust last year. Twenty-four of the
81 cities showed higher valuation fig
ures for the 1886 month. OF the five
largest cities, Baltimore, Washington,
Richmond, Norfolk and Charlotte, all
increased except Norfolk.
Contracts awarded in August for
construction work in the fifth dis
trict, including both rural and urban
projects. totaled s2S,273, 600, compared
with 23,273,287 awarded in August,
1885, 81 per cent being for residential
work, against % per cent OF the
awards in August year ago.
The review just issued shows that
commercial failures in this district in
August were the same in number as
year ago. but there was decline
of SO per cent in liabilities. Employ
ment conditions were notably better,
the survey states, and cotton textile
mill operations continued much higher
than a year ago. Crops are not likely
to yield as high financial returns SIS
last year. Retail trade exceeded Au-
gust, 1885, except in Washington,
which registered drop of over per
cent. Business activity as a whole
continued we'll above the 1885 volume,
the summary concludes.
n.~L~ E-~>>Lz n~~,:cu-
Reviewing Washington trade, the
Department of Commerce announced
yesterday that on account of promo
tional sales being week earlier last
year than this year, department store
sales during the past week were Is
per cent under the same 1885 week
but showed an increase of 73 per cent
over the preceding week this year.
Bank clearings dropped 1.9 per cent
from the previous week and were 3
per cent less than year ago. Sep
tember clearings totaled $89,611 1854
against $73,280,430 in September, 1885.
The value of building permits re-
ceded from the high figure of ST.
308,512 in the previous week, which
included 81, 300 900 Police Court Build
ing, to s363,400, but was ahead of
$295,500 for the same week a year
ago. September permits totaled s3,-
&15,275 against $2,175,830 last year.
Both the monthly and weekly fig
dres for tourists were well ahead of
the like 1885 periods as evidenced by
visitors at the Washington Monument.
Institute Committee Named.
Paul j. Seltzer. president of Wash
ington Chapter, American Institute of
Banking, announced yesterday that
Walton L. Sanderson, chairman of
the Finance Committee, has appointed
the following members to serve with
him during the year:
George B. Earnshaw, National Met
fopohtan Bank; Joseph r. Fitzpat-
rick, Second National Bank; B. Bruce
Frantz. American Security & Trust
Co.; Robert H. Lacey, Columbia Ma
honal Bank; william H. Laughlin.
washington Loan g. Trust Co.: r.
Hunton Leith, Security Savings e.
Commercial Bank, and ]. Earle Nc
Geary, w. H. Hibbs 6 Co.
The Finance Committee budgets
the income of Washington Chapter
and supervises the expenditures Of
the various committees.
Washington Market Stronr.
quotations on the Washington
STOCK Exchange yesterday were strong.
with special interest centered in Lin
coin National Bank stock. Ten sales
were recorded, totaling 95 shares, all
ct 205.
Washington Gas recorded a sale of
10 shares yesterday at 50, up point.
Woodward & Lothrop common was
out. 10 shares moving at 66.
In the bond division, $1,000 and
$500 transfers took place in Capital
Traction SIS at 90. Washington Gas
hg QGn hro1frL& fnoI