Evening star., 1937-12-22
ATTENTION TURNS
TO BANK DEPOSITS
Approach of Third Call From
Controller Stirs In
tereSt Here.
By EDWARD C. STONE.

With the approach of the control
ier Of the currency's third bank call
for the year 1887, due on December
ii. wide interest is being manifested
IN the financial district regarding the
deposit situat ton in Washington banks.
An unofficial survey indicates that
aggregate deposits in the % active
banking institutions will be substan-
TALLY higher than on the call of
June 80 this year, the last issued
by the controller. 1t was indicated
today that deposits here will be
somewhere between $l0,000000 and
$15,000.000 higher than they were
at the end of June.
The call of six months ago revealed
q total of S308,805, ,88l07 on deposit
In Washington banks. Shortly be-
fore that time deposits here had been
considerably higher, many withdraw
ais being laid to the Intangible tax,
this bringing the totals down every
year at the end of June.
ing Christmas savings clubs paid out
well over S5,O00,000 to club members
These figures were revised from the
original estimates of more than ST.
100000. The S5,000,000, however, has
been coming back into the banks
very rapidly, and the bulk of it is
again on depositors' accounts, bankers
said today.
Total deposits in Washington banks
on December 81 will not reach the
all-time record of last March. when
the aggregate sum stood at $34l 1885,
513.26. They will, however, make a
very fine showing, according to present
Indications.
Deposits are said to be running
about normal at present. gain of
s10,00O,000 or $15,O00,000 will reflect
sound banking conditions as we'll as
an excellent business situation in the
Capital leading flnanciers asserted
today.
Investment Demand Expected.
W. B. HibbS g. Co., local New York
Stock Exchange firm, in summing up
the market outlook, states that the
usual January demand for seasoned
dividend-paying stocks should de-
velop next month even if the out
look for general business activity is
still clouded
Pressure to invest in order to OBJ
tain income remains powerful force
and more so at this time in view of
the large amount Of buying which
has undoubtedly been deferred pend
ing more definite indications of sta
bility in stock and bond prices, the
statement adds.
Many bond dealers in the city are
also looking for a better bond de-
mand after the first of the year
They are also hoping for a great
many more new issues.
Bank Starts Paying S60,000.
Receiver John F. Moran of the
North Capitol Savings Bank started
payment today of Ga per cent
dividend to more than $500 deposi-
tors. The present disbursement
amounts to about 100000 The pay
ment is being made at the old Park
Savings Bank Building, Fourteenth
and Kenyon streets NV.
The old Departmental Bank, which
Is in charge of the same receiver,
began the payment Monday of a 5
per cent dividend to 1000 former
depositors. In the distribution $4,000
Is involved, and it brings total pay
Vne,,fs n date m 2S nor cent
Dividends and Bonuses Voted.
A semi-annual dividend of per |
cent for the siX-month period ending |
December 81 has been declared by the |
Board of Directors of the First Federal !
Savings & Loan Association of Alex
andria, Vice President c. T. Nicholson
announced today. The dividend rep
resents an increase of one-half per cent
over the June 80 dividend and is at
the rate of 4 per cent per annum.
Smiths Transfer g. Storage Co. is
giving the usual Christmas bonus to
all members of the organization, Ar
thur Clarendon Smith, the president,
announced today The bonus will be
paid according to length of service,
The companys president added that
the quarterly statement shows a 100 |
per cent increase in profits, the i'm
provement being in an lines of busi-
ness.
Dollars and Sense Appears.
The January number of Dollars and
Sense. published by Washington Chap
R4r ST
appeared in the financial district to-
day, radiating a true Christmas atmo-
sphere.
A. E. Henze of w. B. Hibbs g. Co. |
Is the editor, assisted by Rose Royce, !
Washington Loan & Trust Co.; J.
George Dagenais, Riggs National |
Bank; Kenneth Birgfeld, American
Security g. Trust Co., and Eldridge |
Kendrick, distribution manager.
All activities of the chapter are COW
cred by President William A, Laughlin |
and his aides. Chairman Robert H. |
Lacey announced that the $50
annual banquet will be held on |
Saturday evening, February 10, always |
the biggest social event of the chapter
year.
Liberty Declares Dividend.
Directors of the Liberty National
Bank declared dividend of $3.50 per |
share at the December meeting held
yesterday, payable January is to
stockholders of record January 7, |
President M. F. Calnan announced
today.
Forty shares of American Security
6z Trust Co. stock sold at $50 share
on the Washington Stock Exchange
today. A single share of Potomac
Electric Power 5la per cent preferred
stock moved at 1l012. Bonds were
neglected.
Heard in Financial District.
Members of the Washington Bank
Women's Club held their annual
Chricfr,ae 1oct y,ihIt OF ho