Evening star., 1936-10-06
DEPOSITS MOUNT
|, FURTHER IN D. c.
Gain of Between 10 and 13
Millions Seen Since
!. Last Report.
BY EDWARD c. STONE.

have mounted somewhere 1IOIn 91V'-
100000 to sl3,000,000 above the ag-
rregate amount reported following
the controllers bank call at the end
of June this year. according to un-
oficial estimates in the banking dis
trict. Total deposits on June 80 this
year were s306, ,744.91.
Present deposits in the banks are
particularly interesting just now for
two reasons. If the controller OF the
currency, ]. F. T. O'Connor, adheres
to the custom of recent years he Will
issue a call for the condition OF all
Washington banks and all the ma
tional banks in the United States
late this month or very early IN
November. The other reason is that
the New York banks have just re-
ported substantial gains in aggregate |
deposits.
Present indications are that de-
posits on the next bank call Will be
ahead of the totals on both the June
and March calls. Conditions might |
change a little between now and the |
date of the call, but they are not !
expected TO cnanee mucu.
The greatest recent increase has |
been in demand deposits, bankers
said today. At the same time IN
many banks time deposits nave
mounted. The interest rates now be-
ing paid give no great encourage
ment to any rapid building up OF
savings accounts, although the IN
surance feature makes strong ap-
peal.
The controller never gives any hint
regarding the date of a call. Three
calls a wear are required, but usually
four are issued. The December Cali
is usually at the very end OF the
calendar year and the June call al
ways at the end of the Government
fiscal year. There has been more
variation in the date of the Fall con-
dition request, it coming in Septem-
Der, in October, or even as late as
November /.
Whenever the next call comes,
bankers here expect an all-time tota!
In the funds on deposit.
Auditors Section to Meet.
Arthur ]. Linn, newly-elected first
vice president of the National Asso-
citation Of Auditors and Controllers,
will report on the San Francisco con-
vention at the first meeting OF the
auditors section of the District Bank
ers' Association Thursday evening at
the La Fayette Hotel. Raymond e.
Marx, controller of the Riggs National
Rank. will also speak and Millard S.
Yeatman, Hamilton National Bank,
section chairman, will preside.
The other section officers this year
are: Harry L. Downey, Washington
Loan g. Trust Co., vice chairman;
Gerald E. Keene, Second National,
secretary-treasurer; James D. Bar
rett. American Security g. Trust Co,
and H. Norman Glasco, Union Trust
Co., members Executive Committee.
The program for the first half year
has Just been completed. FREDERICK
H. Cox, vice president, City Bank,
will speak on Assignment OF Life In
surance Policies as Collateral fcr
Loans" at the october % meeting.
Later speakers will include James F.
Bridges, Riggs National, and Horace
Stokes, assistant cashier of the Ma
tional Metropolitan. The joint meet
ing with the Baltimore conference will
probably be held in December.
Women Underwriters Active.
The Women's Division of the Dis
trict of Columbia Life Underwriters
Association has planned very busy
Fall and Winter season, which Will
start Thursday noon with luncheon
meeting at the Womens City CLUB,
jackson place. -Four able speakers
have been secured Malinda Harvey,
national director of public health and
home hygene of the American Red
Cross will speak on What Insurance
Will Do for Nurses"
Miss Marie Mount. dean of women
ut the University of Maryland. Will
discuss Insurance From the Stand
point of University Student" while !
Mrs. Martha Page Head of the Home !
Owners Loan Association will speak
on Insurance From a Mothers Point |
of View Miss Alma McCrum, chair |
man of the division, will preside.
Acacia Captures Honors.
The Direct Mail Advertising AS
kociation, Inc, has just notified the |
Acacia Mutual Life Insurance Co. |
that it has won place as one of the |
fifty direct mail leaders in the United |
States and Canada for 1885.
Troy M. Rodlun, advertising man. |
ager of Acacia, is member of the |
local chapter of Chartered Life Under
writers and is secretary of the ma
tional Life Advertisers Association. |
This is the only insurance company |
in the country to receive the honor
five times.
Bonds Listed on Exchange.
The Washington Stock Exchange |
received telegram from the Securi- |
ties & Exchange Commission today al |
lowing the listing of s15,0Oo,o00 Po- |
tomac Electric Power Co. 81 per cent |
first-mortgage bonds due 1866. The
listing became effective at once, the
bonds were placed on the board with |
an opening bid of 104 and an asked
price of 104s4.
The Baltimore & Ohio announces
the appointment OF Gayle w. Arnold
as manager of the commercial de-
velopment department, with head
quarters in Baltimore. He has been
connected with the road since 1919.
Walter Tufts, who has been as
sistant deputy governor of the Farm
Credit Administration in Washing
ton, has been named deputy fiscal
~r~~k fa~ tba EodoraJ Tapd nopkc
Ind Federal intermediate Credit |
Banks, under Charles r. Dunn, fiscal |
agent for these institutions, with Of
S1ces in New York.
The Western Maryland Railway re-
ports for eight months ended August
81, 1886, net income of $790,481 after
taxes and charges, equal to $4.45 a
share on lit ,420 shares of per cent |
cumulative first preferred stock on |
which no dividends have been paid. !