Evening star., 1937-02-08
D. c. BANKS SHOW
MARKED PROGRESS
$257, $4,000 Deposits in
1882 Rose to $306,413,-
600 in 1886.
BY EDWARD C. STONE.

Substantial increases in assets and
liabilities of % Washington banks in
1885, compared with the totals for 80
banks in the Capital in 1882, are re-
vealed in the annual report of the
Controller of the Currency, j. F. T.
O'Connor, submitted to Congress
today.
Loans and discounts were larger in
1892, being $l40, 0,505,000 on June 30 of
that year as contrasted with $9l ,040. 900
on June 80, 1886. Most other items,
however, show the reverse to be true.
United States Government securities
held in 1882 by the 80 banks totaled
$57,088,000. while in 1886 the % banks
held s74,223, 900.
Controller O'Connor's report shows
that real estate owned other than
banking houses totaled $6,929, 900 in
June, 1892, but had been reduced to
$5,5220 900 on the same date in 1885,
The 80 banks had cash in vaults
amounting to $8,s08,oO0, while in 1886
the vault cash had increased to
$11.390.0o0.
Balances with other banks, includ-
ing the Federal Reserve Bank of Rich
mond, aggregated s37.743,o0O on June
80, 1882, and in June, 1886, had
mounted to $l00,815, 900 in the % in
stitutions rendering active banking
service. Assets, which totaled $780,
10000 as dividend among the SO
banks in 1882, had grown to $780,
$4,000, held by about half as many
banks in 1886.
Sharp Gains in Deposits.
Comparisons on the liabilities side
are equally interesting and striking.
The. report shows that demand de-
posits. which amounted to s118,480. 900
in 1882, had grown to s166, 100000 in
1896 and that time deposits, including
postal savings, did not advance but
declined from $120,648,co to $106,-
625,000 in the period under review
Deposits with other banks rose about
$10000,000.
Total deposits held by the 80 banks
in 1892 amounted to s257, $3.50, 900.
With the number of Washington
banks almost cut in half, the % re-
manning institutions held total de-
posits Of 06,4l3,oo0 on June 80, 1886,
Controller O'Connor says.
The 80 banks carried larger sur
pluses in the aggregate in 1882 than
the % institutions had in 1886,
$23,328, 900 VS.. s18.25o,oO0. Net undi-
vided profits were larger on the earlier
date but the % banks had larger
reserves for contingencies, $5,870,000
in 1882 against s6,292, 900 in 1886.
The Controllers report shows that
Of the total deposits of $500, ,430, 900
held by the % banks on June 80, 1886,
$176,584,000 was in National bank
vaults, S103 ,804, 900 was carried by the
trust companies and $26,025,000 on
the books of the savings and State
banks.
Building Associations Grow.
The assets of the % building and
loan associations operating in the
District Of Columbia under the super
vision of the Controller of the Cur
rency on June 80. 1886, totaled
s112,602,o00 and exceeded by SILL
on June 80 year ago.
The loans, which aggregated sl02,-
775,000, showed an increase in the
year of $10,469,OO0. Installment pay
ments on shares increased also from
S90.710,o00 to S99, 900.
Twenty-three of the associations
operated on the permanent plan, four
on the serial plan, and one on both
the permanent and serial plans. The
total membership was 1859, as COM
pared to 118,117 members year ago,
and of the total in the current year
the numbers borrowing and nom
borrowing were 29,328 and 104.351,
respectively, Controller O'Connor re-
ports.
Pursuant to executive orders dated
February 2, 1884, and March 9, 1884,
two export-import banks were estab-
lished in the District of Columbia to
commence business in 1884. One of
the banks, the Second Export Import
Bank of Washington, D. c., went into
voluntary liquidation, effective June
I, 1886, its business having been ac-
Auired by the Export-Import Bank OF
Washington.
On March 2e, 1896, the latter
named bank authorized an increase
in its capotal stock from s11 100000
to $21, 100000, by the issuance of
10000 shares Of preferred stock with
a par value of $1,000 each. The
Reconstruction Finance Corporation
purchased 100000 of the author
lied increase on April 8, 1885, the
controller states.
Hemphill, Noyes Expands Staff.
Robert H. Mcneil, connected with
Hemphill, Noyes & Co., since 1882 as
cashier in their Washington Office,
has been added to the sales depart
ment of this Office. Mr.. Menzel, iden-
titled with New York Stock Exchange
firms for the past 10 years, attended
Elmhurst College in Illinois and
George Washington University.
Percival r. Bailey, jr., who has
been associated with the New York
Stock Exchange firm of AuchinclosS,
Parker g. Redpath, since 1882, will
assume the cashiers position and de-
vote part of his time to the sales de-
partment. Mr.. Bailey is a graduate
Of Wharton School of Finance, Uni
versity of Pennsylvania, where he
specialized in investment and broker
age.
OF to Trust Conference.
William A. Baden, vice president
and trust officer, and Leonard Mar
bury, assistant trust officer of the
Washington Loan & Trust Co., will
attend the A. B. A. Midwinter trust
conference, which opens a three-day
session in New York tomorrow. Rep
resentatives Of half a dozen other
Capital banks also will be present.
The Ticker Club of Washington was
to be represented at the funeral Of
Karl w. Corby this afternoon by
Chauncey G. Parker, jr., the clubs
nresident. .T0hn r. parkar vica yror}-