Evening star., 1937-02-21
NEW HIGH REACHED
IN BANK DEPOSITS
Assets Also Larger Than in
1929, A. !. B. Chapter
Here Is Told.

New high records in both deposits
and assets of the 1891 national banks
In operation last December 81 were
reported for the first time last night
by Controller of the Currency j. F. T..
OConnor in an address before the
Washington Chapter of the American
Institute of Banking at the Willard
Hotel. Even the marks set before the
Wall Street crash IN 1929 have now
been surpassed, the controller stated.
He was the principal speaker at
the chapters 32d annual dinner, which
was attended by $50 members and
guests, including high Government
officials, leaders in the Capitals finan-
eial district and prominent financiers
from many other Eastern cities. Paul
J. Seltzer chapter president, presided
and the attendance was the largest
in the history of the organization.
In explaining the new records, Con-
troller O'Connor declared figures
from the last national bank call
revealed that total deposits on Decem-
Der 81, 1886, aggregated S27,608,397,
900. exceeding by 81 ,407 ,944 900, O'
637 per cent, the amount reported
on June 80, 1886 1t exceeded by 81.
760,664, 900, or I'LL per cent. the
total reported as of December 81,
1885, and surpassed for the first
time the high records of December
81, 1928.
Total assets on December 81, 1885,
were $3l .070, AL 900 and exceeded by
S481 ,285, 900 the total reported by
1885 banks on December 81, 1928.
The current figure, the controller
added, also shows an Increase of ST.
:S67 7,602 900, or 400 per cent, since
June 80, 1886. Citing other banking
figures, he concluded by praiSing the
"Herculean task accomplished by
Secretary Morgenthau in handling
Government finances" adding that
the secretary, by timely reflnancing
of Government obligations has been
able to save the taxpayers of the
country huge sums of money.
President Seltzer introduced among
1.-The special guests OF honor Robert
". Fleming. past president of the
american Bankers Association and
an honorary member of the chapter;
Thomas B. McAdams of Baltimore,
past president of the American
Bankers Association; Charles F.
Ellery, Newark, N. j., past president
OF the American institute of Banking:
: Frank NJ. Totten, vice president Of
fthe Chase National, also past presi-
dent of the institute; Thomas j.
Groom, acting president Of the Dis
'itrict Bankers Association and Victor
B. Deyber, secretary of the Wash
ington Clearing House Association.
During the evening, Seltzer also paid
special tribute to the late Karl w.
-Corby.
:: Philip A. Benson, president Of the
Dime Savings Bank in Brooklyn and
second vice president of the American
Bankers Association, made a brief
speech, saying the American Institute
.:of Banking is striking example of
what can be accomplished by CO.
operation.
Invocation was pronounced by Rev.
Charles T. Warner, rector, st. Adams
Episcopal Church. The evening ended
with an elaborate entertainment and
dancing. The Banquet Committee
consisted Of Frank M. Perley. chair
man; Aubrey o. Dooley. I. ]. Roberts,
It. Hunton Leith, James A. Soper,
Helen c. Oehman and j. Earle Nc
Geary.
-, Members and Special Guests.
The following members of Washing
ton Chapter and their guests attended
the banquet: