Evening star., 1937-07-06


Other Calls Also Issued.
Coincidental with the national bank
call, the Federal Deposit Insurance
Corp. and the Federal Reserve Board
issued calls. In all, about $4,000 banks
will make condition reports as of June
80. Included in this figure are about
5000 national banks which are among
the $500 member banks of the Fed
eral Reserve system.
The last national bank call was for
condition statements as of March 81.
For insured and Federal Reserve in
stitutions, the last call was for con-
dition statements on December 81.
d. C. Auto Sales OFF.
Sales of new passenger automobiles
IN the fifth district in May and the
first five months of this year scored
advances over the like periods in 1886,
although, in Washington alone they
were not up to last years marks, the
Federal Reserve Bank of Richmond
states in its latest review The num-
Der of new cars registered in the whole
area in May was 25,795 or 80 per cent
better than a year ago and in the five
months 109,53O or 159 per cent ahead
of the like 1886 period.
Registration of new cars in Wash
ington totaled 3,179 in May a drop of
1873 per cent from May 1886 and a.
1858 in the five months. a decrease of
98 per cent compared to the same
months last year. Maryland reported
5,l79 new registrations in May, a gain
Of As per cent and 20,809 for the five
months, an increase of 17.6 per cent.
Virginia had 5,459 registrations in
May, up is per cent and 23,1O1 in the
five months, a notable gain of 1872
per cent.
Turning to construction, the Rich
mond Bank states that building in the
fifth district continues to expand,
especially in residential work near
the cities. Permits in 81 cities in May
we're estimated to cost $l0,178,457, the
highest monthly figure reported since
April, 1880 and SIS per cent higher
than in May. 1886 Contracts actually
awarded totaled s24,03o,000, only 2.6
per cent ahead of 1886 when the
figures included several large Govern
ment projects
Building Contracts Mount.
The Richmond Bank says that con-
struction contracts awarded in Wash
ington In April totaled s4,854,70O a
gain Of 97.3 per cent over April, 1886.
Maryland reported contracts totaling
$780, 100, up 1876 per cent, while
Virginia contracts amounted to S10,-
275,700, an increase Of 96.3 per cent
Included in these sensational gains
was an advance of so per cent in West
Virginia, 40 per cent in North Caro-
lima and 99.2 per cent in South Caro-
lima.
Reviewing banking conditions up to
June Is summing up reports from Al
member banks, the Richmond analysis
states that during the month invest
ment rose $19,111,0 900, while demand
deposits declined s9,121, 900 and bor-
rowing from other banks dropped 81,
100000 in the regularly reporting
banks, other changes in the statement
being relatively immaterial In COM
parison with figures on June II last
year, figures on June Is this wear
showed increases of $59,2O5,0OO in
loans, $32,4O8,00O in reserve balance
at the Reserve bank, and s56,93l 900
in demand deposits, while investments
in securities decreased $l2 2,652, 900 dur
ing the year.
Today's Trading on Exchange.
washington Railway g. Electric pre-
Serred sold at 1101z on the Washing
ton Stock Exchange today. maintain
ing recent levels. Capital Transit
registered 17-share sale at 1O4, un-
changed, and SO shares Of Real Estate
Mortgage & Guaranty preferred came
out at 4H. Other bid and asked
prices were firm.
The Federal Redeposit Insurance
Corp. said today in the annual report
that "a banks had been cited "for un-
safe and unsound practices" during
1896. OF these, three banks corrected
their practices, four closed and one
was absorbed by another bank. The
remaining cases were pending at the
end Of the year.
Chairman Leo T. Crowley said cita-
tionS, including those issued in 1886,
were pending against about 80 banks,
and that q close check was being
made on about 200 others.