Evening star., 1937-04-08
Total -------s341, ,222 ,o41 .56

lOCdl SS4l ,2ZZ ,64l 90
simultaneously, the Federal Reserve
Board issued call for condition of
more than 5000 member banks on the
same date. This includes the 5,374
troller's call, which also are members
of the Reserve system.
The Federal Deposit Insurance Corp.
Issues only two calls year, and did
not join the other two agencies in the
call today.
Bank Debts Rise Sharply.
Washington banks, which are men,
bers Of the Federal Reserve System.
reported debts to individual accounts
in February as s236, 5000, compared
with S209, 1000 in February, 1886,
or an increase of 1873 per cent, the
Federal Reserve Bank of Richmond
states in its latest review. The report
indicates notable pickup in check
activity and supplies further definite
proof of steady business expansion in
the Capital.
The report further shows that in the
banks of "a fifth district cities, includ-
ing Washington, February figures ex-
ceeded February, 1886, totals by 16
per cent, every city except Lynchburg
reporting higher figures for the 1887
month. Charleston, S. c., with a 35
per cent gain, showed the greatest in
crease over the 1886 returns, while
gains of more than 16 per cent were
shown by L of the "a cities.
Three Maryland cities reported an
average increase of 147 per cent in
February of this year over debts
year ago. Seven Virginia cite. gained
an average of 14.5 per cent, two West
Virginia cities had pickup of 22.2
per cent, seven North Carolina cities
were up 81 per cent and four South
Carolina cities 20 per cent. Baltimore
was ahead of Washington with an
increase of 14.7 per cent. Richmond,
however, We slightly under the mark
for this city.
Elsewhere in the report the Rich
mond bank compares other important
items reported by Al member banks on
March 10 with March IL, 1886. During
the IL months loans and discounts rose
by S29,752,000, of which $27,98l 900
represented commercial, industrial and
agricultural loans, while only $1,771,-
900 of the increase represented loans
on securities. Investments in securities
rose $5l,194,000 during the year
chiefly because of purchases of Gov
ernment securities. Demand deposits
were up over $50 100000
Bank Declares Dividend.
Directors of the Washington Loan
81 Trust Co. declared the regular quar-
terly dividend of per cent at the
April meeting yesterday, payable May
to stockholders of record on April %.
1t will be the 179th consecutive dis
bursement of this kind Books will be
closed from April % to May 2, both
dates inclusive.
The Washington Office of the Inter-
national Business Machines Corp. re-
ports that January and February of
this year were the best two months
in the history Of the company from the
standpoint of earnings The report
added that despite increased wages,
cost materials and taxes earnings
in 1886 were the largest the company
has yet recorded.
The McCann-E Erickson Advertising
Agency, New York, reports that several
State safe deposit associations con-
nected with the banks are planning a
special advertising drive to stress this
type of protection. The matter is to
be given special attention at the con-
vention of the National Safe Deposit
Association to be held in Washington
early in May, with the safe deposit
section Of the District Bankers Asso-
citation acting as host.
Today's Trading on Exchange.
Mergenthaler Linotype figured in
several sales at 46 on the Washington
Stock Exchange today. Potomac Elec-
trio Power per cent preferred stock
came out at 1922. Capital Traction
IS again sold at 93l2 and Washington
Gas IS at lit. Carpet Corp. stock has
been added to the ex-dividend list.
Between 70 and 100 bank officers
and senior clerks attended the forum
meeting Of Washington Chapter,
American Institute of Banking, last
night in the board room of the Amer
ican Security g. Trust Co. E. A..
Goldenweiser of the Federal Reserve
Board, spoke on Reserve Require
ments." Refreshments were served.
Mark Sullivan, jr., who is associated
with Auchincloss, Parker g. Redpath
has been q recent visitor in Wall
Street.