Evening star. [volume] (Washington, D.C.) 1854-1972, 1937-11-12
EARNINGS GAIN
IN CAPITAL BANKS
Moderate Loan Expansion
and Increased Deposits
Are Reported Here.
By EDWARD C. STONE.

the past 10 months.
Income from operations has been
expanding in a very encouraging
manner several bankers said today.
The moderate expansion in loans
which was reported several months
ago is continuing, with the demand
remaining ahead of last year.
Most banks report that their pres
ent deposits are running ahead of the
totals brought out following the June
call issued by the controller of the
currency. The higher bank deposit
figures are expected to prevail at the
end of the year.
One banker explained today that
payment of the Christmas savings
club funds will bring down deposits
temporarily, but much of this money
usually finds its way back into banks
in comparatively short time.
In the long run, the reduction in
margin requirements for the purchase
of securities on the New York Stock
Exchange and other exchanges will
increase the demand for loans in the
Washington banks and elsewhere. So
far the move by the Federal Reserve
Board has had no effect here. But
the step is bound to help, bank
president said today.
A. b. A. Urges Radio Use.
Adding to its already extensive pub
lie relations services to banks through
out the country, the American Bank
ers' Association announces the adop-
ton of a series of radio programs to be
used by banks on their local stations
The association is urging their CO.
operative use by clearing house as
sociations, county bankers associa-
tons and other banking groups in
order that the greatest number of
banks may benefit.
The plan contemplates 15-minute
electrically Transcribed programs con-
sisting of light classical music and
human interest playlets built around
various banking services. The pro-
grams are strictly educational and
make no direct effort to sell banking
services.
The series will consist of 50 disks"
or programs. 1t will be recommended
that banks use them semi-weekly.
Assistant Treasurer Named.
c. c. Guertler, who began work for
the McLachlen Banking Corp. early
in 1927 as a bank messenger. was
elected to the position of assistant
treasurer at a meeting of the Board
OF Directors late yesterday.
Born in Washington 81 years ago,
he graduated from the Woodward
School for Boys, American Institute
of Banking, National University Law
School with the degree Of LII. B., and
from Stewards Business College.
In the past 10 years he has held
many important positions leading up
to his present promotion, President
Lanier P. McLachlen said today.
Optimistic ON Business.
Completing an intensive business
survey tour from the Mississippi River
to San Francisco, K. N. Merritt, gen.
eral sales manager of the Railway Ex-
press Agency, returned East with the
opinion that although there is at
present recession in buying power,
this condition will change for the
better during the approaching winter
season. He found that the Railway
Express volume of business was from
4 to per cent greater than it was
last year and in general was higher
than business il general, he reported
to the Washington Office today.
One of the largest volumes of ex-
press business at the present time
is in the form OF shipments of cut
flowers in refrigerator cars and by
air express from California to the
rest of the country. In the Texas
and Rio Grande Valley sitrus fruit is
now beginning to move and the grow
ers in that region expect one of the
best seasons on record, he said.
Bank Call Speculation Rife.
There is much speculation in finan-
cial circles as to what, if anything,
has happened to the Controller of
the Currencys usual third quarter
call for the condition of all banks
in the District of Columbia and all
national banks in the United States
and in United States possessions.
In the past this call has come in
October more often than on any
other date. For this reason many
bankers think the call has gone with
the wind and that the next call for
the year will come at the end of
December.
No call has to be made at this time,
as the law requires only three such
requests year. The claim that it
Is now too late for a third quarter
call is not proved by bank history.
In 1920 the controller issued a call
on November 20 as of November Is.
On November 81, 1919, a call was
issued as of November IT,
AS recently as 1885 a call was nut
out on November 5 dated as of No.
vember /. All of which goes to show
that there may be three and there
may be four calls this year. Only
the Controllers office knows.
Heard in Financial District.
The auditors section of the District
Bankers Association held its November
meeting at the La Fayette Hotel last
night. -Four papers on matters of
vital Importance to all accountants
were read by members of the section.
The Potomac Electric Power Co. S
proposed new S5,OO0OOO bond issue
will pay 3A per cent interest, which
is the same as that paid by the $751;
100000 issue put out by the same
company in June, 1886. The price
at which the bonds will be sold is
being awaited by the Public Utilities
Commission before ruling on the
authority request will be made.
Directors of Peoples Drug Stores,
Inc, have declared the regular quar-
terly dividend of S1.6212 share on
the preferred stock, payable December
Is to stockholders of record on De-
cember l.
Washington Gas SIS, 1858, figured in