Evening star., 1937-09-03
DISCOUNTS RISE
IN FIFTH DISTRICT
Continue Moderate Upturn
in Month, According to
Richmond Bank.
BY HAROLD B. ROGERS.

BY HAROLD B. ROGERS.
Discounts at the Federal Reserve
Bank of Richmond, for member banks
In this fifth Federal Reserve district.
continued to increase moderately be-
tween the middle OF July and the mid
die Of August, according to the month
ly review of conditions by the Rich
mond bank.
There was a seasonal increase in
the circulation of Federal Reserve
notes, the review pointed out, caused
chiefly by the opening of auction to-
bacco markets in South Carolina and
border markets in North Carolina.
Member banks increased their re-
serve deposits slightly last month and
the Reserve banks cash reserves also
rose.
Reporting member banks increased
their loans and discounts between July
IA and August II and Improvements
IN securities also increased slightly.
Demand deposits increased last month,
but there was small decrease in
time and savings deposits, as fire.
quently occurs at vacation time.
Debts to individual accounts fig
ures in "a cities decreased by 2.6 per
cent in July, on comparison with
July by 81 per cent.
Business and industry in July, the
report pointed out, was in reduced
volume in comparison with other re-
cent months, part of which was sea-
sonal, but the decline was somewhat
more marked than seasonal influences
account for. 1t should be born in
mind, the survey says, that the pay
ment of the veterans bonus last year
furnished stimulant to business last
Summer.
Robbery Warnings Given.
Washington banks have received
fresh warnings against possibility of
bank robbery, from Hugh Leach, presi-
dent of the Federal Reserve Bank at
Richmond, with reinsurance that the
famous Federal Bureau of Investiga-
ton of the Department of Justice is
ready to cooperate in apprehending
and prosecuting bank bandits
In a letter, Leach recalls to bankers
that the F. B. l., under law, now is
charged with the duty of investigating
violations of the act which makes rob-
berry of national banks and member
banks of the Federal Reserve System
a Federal offenSe. Since the passage
Of this act, the Federal Bureau of In
vestigation has been handicapped in
the investigation of number of bank
robberles," according to J. Edgar
Hoover, director of the F. B. l., due
to delay of the bank in notifying the
bureaus field Office of the robbery"
Cooperation Asked.
Leach quotes Hoover as saying the
F. B. L requests that in event of
robbery the bank. after notifying local
authorities, Immediately communicate
with the nearest field Office of the
Bureau, with as much detail as pos
sible
''It is the desire of the F. B. L."
Hoover said. TO cooperate with all
banks to the fullest extent possible
IN an effort to identify and prosecute
those guilty of bank robberies. Your
cooperation in promptly reporting to
the nearest field Office of the F. B. l.
will be greatly appreciated, and will
be Of mutual advantage in these
cases" A list of the locations and
telephone numbers of all Offices of
the F. B. l. throughout the United
States is given in Leach's letter
Edward G. Dolan of Manchester,
Conn, took the oath of Office yester-
day as Register of the Treasury, sue
ceeding the late w. W. Durbin.
D. c. Trading Slow.
Capital Traction SIS at 86 proved the
only sale today on the Washington
Stock Exchange. which will be closed
tomorrow and Monday, Labor day.
Frank r. Ullmer, treasurer of the
National Savings & Trust Co., has re-
turned from vacation in Maine
Barnum L. Cotton, real estate officer
of National Savings & Trust, has left
for his vacation.
Dull uCIG .. Vdlue VI WlIlGllIUp
Mitchell & Co. has returned from
vacation at Colonial Beach.
John D. Bergan of Winthrop Mitchell
& Co. will spend the Labor day week
end with friends in Cleveland. William
R. Boyer of the same company left
today for four-day cruise down the
Potomac and in Chesapeake Bay.
Ord Preston. president of Union
Trust Co., has returned from Hot
Springs. Va, with Mrs. Preston, who
had been spending the Summer there.
J. Wesley Clampitt, assistant secre-
tary of Union Trust Co., will return
Tuesday from vacation at Ocean
City, Md.
John A. Reilly, president of Second
National Bank, is expected to return
next week from Rehoboth Beach,
where he spent a month