Evening star., 1937-01-04
BANKL0ANS GROW
IN F|FT I II DISTRICT
Richmond Survey Reveals
Advance O f S27,626,O 900
in12.M onth Period.
BY EDWARD C. STONE.

Details from the December review
OF the Federal Reserve Bank of Rich
mond, received here, disclose that
between December IL, 1885, and the
corresponding date in the year Just
ended, December 9, total loans and
discounts at the Al reporting member
banks in the fifth district rose by
s27,626, 900, of which $23,444,000 was
in "all other loans," which are largely
commercial or industrial in charac-
ter. Nearly 80 per cent of the in
crease in "all pther loans" occurred
In the last four months.
During the year investments in Sc
curities rose by S35,713,000, and the
reporting banks added Sl8,943 900 to
their reserve deposits at the Federal
Reserve Bank. Cash in vaults shows
a rise of Sl.257.O00 between the mid
die of December, 1885, and December,
1886. Deposits in the Al banks rose
S72,793 900 during the year. of which
S7O.115, 900 represented demand de-
posits and only S267S,000 time de-
posits.
Time deposits in Al reporting men,
ber banks and aggregate deposits In
10 mutual savings banks totaled S404,-
607375 at the end of November, 1886,
a. lower figure than $408,847,824 re-
ported at the end of October, but
above S393,097,84l on November 81,
1885. Both member and savings
banks reported drops in time and
savings deposits during the last month,
but both classes of banks showed
higher deposits than year earlier. A
moderate decline in time and savings
deposits usually occurs around the
first of December, when Christmas
clubs are paid and many depositors
withdraw funds for holiday buying.
Building inspectors in 81 fifth dis
trict cities issued 1858 permits in
November, compared with 2,l42 per-
nits issued in November, 1885. gain
of 33 per cent. Estimated valuation
figures last month totaled S6,9l3,844,
an increase of 81 per cent above the
total of S5267.569 reported for No
vember 1885, and 129 per cent above
s3,Ol4,41l reported for November,
1894 TWentyLthree of the 81 cities
reported higher valuation figures LOT
the 1896 month and II largest cities
in the fifth district were included in
the %,
Contracts Actually AWARDED IN NO
vember for construction work III ire
fifth district, Including both rural and
urban projects. totaled S20890.500,
compared with S16.417.226 awarded
In November, 1885, and so,599, ,43l
awarded IN 1884, the survey discloses.
Riggs De posits SlOo,So5,799.
Robert v. F. leming, president of the
Riggs National Bank, and the other
officers received b many congratulations
today on tho banks crossing the
500 OOO. 900 mark in deposits for the
first time since the institution was
founded. The statement of Deem
ber 81, 1886. shows total deposits of
S100,805, 1929
Total deposits on June 80, 1896. the
date of the controllers last call, were
SB9 100, 1852. SO, which means a gain
in the last months of s1l, ,705.-
o3e 90, a yer, substantial improve
ment. For several years Riggs Ma
tional has be len listed among the
largest banks in the United States.
Crossing the s1o0,OOO,00O line will
place the Washington institution
much farther up the list.
MANY other local banks will report
notable gains i'm their deposits in the
past six months when the next con-
troller's call is issued in few days.
The % banks are expected to reveal
an all-time high record.
Insurance Leader Retires.
After 20 yea rs as general agent of the
Northwestern Life Insurance Co., A. L.
Baldwin retired on December 81 and
will be succeeded by his son, Roger
l.. Baldwin. Mr.. Baldwin, sr.. will
remain as a special agent. He was
special guest Saturday night at a
dinner at the Dodge Hotel in honor
of his long and able service, George F.
Clendaniel acting as toastmaster.
In 1916 the Washington office wrote
100000 in new insurance. 1t has
since risen 10 S3,5O0,000 annually.
Twenty years ago the Office ranked
sixty-seventh among the agencies. In
1886 it won sc cond place in Nation
wide contest for new business.
The retiring general agent has the
unique distinction of having had as
sociated with him in business his en-
tire family of -four sons and one daugh-
ter. Roger l.. Baldwin. who succeeds
him as the head of the agency, is 81
years old. graduate of Allegheny COL
lege, former cashier of the agency
here and has been active in the busi-
ness since 1922 having produced more
than s3,oOo,ooo in new policies.
Joins Bro wn Hartman e. Co.
Sidney T. Thomas has become asso-
ciated with Brown Hartman g. Co. in
the Washington Office, it was an
nounced today. For several years Mr..
Thomas has been vice president of
Robert c. 10 nes & Co., another in
vestment firm Brown Hartman &
Co. also ammo llnced the opening of an
Office in Atlarta today.
Belief that before many years have
passed investment houses will be
grateful for securities legislation and
that the business of the stock broker
Is not doomed to desuetude, is ex-
pressed by E. A. Pierce, head Of E. A.
Pierce & Co., in year-end message
sent to all Offices today.
Group insur ance in 1886 reached the
highest peak n its history, according
to a statement today by Thomas I.
Parkinson, president of the Equitable
Life Assurance Society of the United
States, which inaugurated this plan Of
protection for employees Is years ago.
More employees are now protected by
the various group coverages and for
greater volume of insurance than ever
before, 1t was stated.
Exnicios Joins Exchange.
Marshall q. Exnicios, vice presi-
L. G.