Evening star., 1937-07-17
BIG GAINS SCORED
BY STATE BANKS
Special Survey Disc|oses
Sharp Rise in Deposits,
Loans and Profits.
BY EDWARD c. STONE.

Loans and Profits.
BY EDWARD C. STONE.
Continued improvement In the con-
dftion Of state-chartered banking in
stitutions, with an increase of about
$4,000. .000, 900 in q year in total re-
sources, is shown in the annual sur
vey Of resources and liabilities and
earnings and expenses OF State banks,
1,lst issued by the State bank divi-
sion, American Bankers Association.
Resources of 1929 State-supervised
banks In the Nation amounted to $685.
652, 1850 at the end of 1885, . gain
Of 81 per cent over 1885, and total
deposits were $33, 900. . gain
Of 81 per cent" the report says.
Loans and discounts for the first
time in hve years increased during
1886, showing gain OF 35 per cent
over 1885. Investments, steadily in
creasing during recent years, rose by
81 per cent in 1896, 1875 per cent
In 1885 and 14.5 per cent in 1894.
Total deposits in 1896 aggregated
$50, ,l84, 1920 representing a growth
Of 81 per cent, in comparison with
an increase OF 1l.8 per cent in the
preceding year, an increase of SO
per cent in 1884, and decrease of
~ per cent in 1888.
The survey Of earnings and ex-
penses revealed that in State banks
which do . commercial business gross
earnings from current operations
showed an increase of 1874 per cent
in 1886 over 1885 and that more than
is per cent Of gross earnings was
turned into profits after current op-
Grating expenses in 1896, compared
with 2.3 per cent in 1885.
Net profits before dividends in 1895
ranged between sl.65 and $0.s7 per
800 Of deposits. After dividends,
average net profits for 1886 amounted
10 30.57 for each 500 Of deposits,
compared with $0.3s for 1895, the
Strvey says.
Richmond Bank Deposits Up.
Twelve Richmond banks and trust
companies had total deposits of $173,-
640,650 at the close Of business June
10, according to figures compiled from
industrial statements published in
conformity with the national and State
bank calls.
Deposits of the II institutions were
approximately S4,000,000 higher than
the $169,635,852 reported = year ago
by Is institutions, one of which has
given up its banking charter. This
Is gain Of "a per cent.
Loans and discounts by the banks
and trust companies also showed a
healthy increase, mounting to $685.
o00,o54, for the IL institutions, as
against $62, 2,180,76 for 13 a year ago.
Aircraft Earnings Rise Rapidly.
Billings Of aircraft manufacturing
companies this year are likely to total
wall over $100,000,0o0 to compare
With about $77,000,000 last year and
. previous peak Of ST. 100000 in 1929,
according to an analysis Of the avia-
t4on industry published by Fenner Il
Deans, New York Stock Exchange
dm.
With greatly increased facilities and
Improved operating efficiency, which
comes with volume production, the air.
craft industry should carry down 4
larger portion Of these sales to profit,
according to the study. Sales billings
for the industry in the first five
months already total roundly sc, ,000.-
900, up 56.6 per cent over the same
period . year ago, the survey says.
Rail Revenues Exceed 1886.
Twenty class railroads, represent
ing 66.S per cent of total operating
revenues in the Southern district, had
estimated operating revenues in June
nf $27,005,152, compared with $25,-
e7s,760 in June, 1886, and $33 3,112,694
Ia June, 1890, So per cent above the
same month Of 1896, but 1874 per cent
below June, 1880.
Freight revenues in June amounted
10 $22,159,393, compared with $2l,-
960,526 In June. 1895, and $26,012,-
s46 IN June, 1880, 81 per cent above
1886, but 14S per cent below the
pame month In 1890.
Passenger revenues in June totaled
47,503 ,202. compared with $2,338,2l4
in june, 1896, and $4,465, ,903 in June,
1880, or 100 per cent above June,
1856, and 4l.9 per cent below June,
1880.
heard In Financial District.
Floyd Z. Davis, president of the
Lincoln National Bank, recently COM
saIn&aH 1,a~ fws>,,$v fo,.rth u>>1 !. A>.l
Of the institution which has pros
peFsd 20 steadily under his leadership.
HI was elected president Of the bank
on July 10, 1913.
A. Z. Hense, head of the order
department ut w. B. Hibhs q o., and
editor Of Dollars and Sense, pub
hshsd BY Warrington Chapter, Amer
aoan Institute Of Banking, is taking
hi annual vacation.
=. Dewey Everett Of Hornblower &
Weeks has been appointed as \ gov
eninS member Of the New York
esock Exchange to I'LL, until the next
annual election, the vacancy created
BY the death of Thomas H. Gammack,
The Virginia Cooperative Crop
Reporting Service has announced that
the total acreage planted in tobacco
this year Is estimated to be 40, 700
acres, an increase Of II per cent over
the 125,100 acres harvested last year.
Ths Federal Reserve Board reports
me average yield on Government
bonds during the week ended June 23
was 2.66 per cent, compared with 2.64
IN the previous week and an average
of 2.S0 during June . year ago.
mgh-srade municipal bond Yields
averaged 7.e9, 2.66 and 7.72 per cent,
9oe the respective periods, and cor
posass bonds 3.93, 3s7 and 3.s4 per
0snt.