Evening star., 1938-04-19
D. c. BANK LOANS
RISE DURING YEAR
Resources of % Institutions
Total 1869, ,247, 900, New
Survey OisCIoseS.
By EDWARD C. STONE.

made public today by the Federal
Deposit Insurance Corp.
Deposits in the insured banks were
listed as S322.652 600 Demand de-
posits amounted to Sl932l3,0o0 and
time deposits totaled slO6, ,399 COO, each
exclusive of interbank deposits. Loans
and discounts of the reporting banks
amounted to S103,831 900, a gain of
S8,599000 over the December 81, 1886,
total
Direct and guaranteed obligations
of the United States Government listed
by the District banks amounted to
Sill $4,000 on December 81. 1887
Other securities totaled S23,973,OOO
Loans and discounts of the 1875
Insured commercial banks throughout
the country totaled S167l7,467 900, an
increase of S777. .745 900, or per cent,
over the amount reported December 81.
1886 Deposits declined to S47.19l.-
4l50oO from the S49257, $4,000 re-
ported the previous year.
Scott Heads Underwriters.
Dwight T. Scott Mutual Benefit
Life Insurance Co., was elected presl-
dent of the Washington Association
of Chartered Life Underwriters at
the annual meeting last evening at
the Cosmos Club.
H. Cochran Fisher. Aetna Life In
surance Co. was named vice president
for the coming year. j. Alan Maphis,
Equitable Life Assurance Society, was
named secretary and treasurer
J. Hicks. Baldwin, Northwestern
Mutual Life Insurance Co, was ap-
pointed chairman of the Program and
Annual Dinner Committee, the annual
banquet having come to be the most
important event in the years activi-
ties.
1t was announced that Albert w
Atwood, economist of the Saturday
Evening Post, will be the principal
speaker at the May meeting.
d. {. Securities Reviewed
Pertinent information regarding Sc
curitles of Washington corporations is
ably presented in the 1898 edition of
Facts and Figures on Washington
Securities" just published by the in
1t is the twelfth edition the firm has
put out and contains a great many
statistics regarding capital structures,
earnings, capital surplus. including
deposits of Washington banks, with
dividend records, price ranges and lists
of officers
The booklet gives complete descrip-
tions of the various stocks and bonds
of such concerns as the Potomac Elec-
trio Power Co., Washington Railway &;
Electric Co.. Capital Transit Co. and
Washington Gas Light Co. In fact,
detailed information is given regarding
some "a different companies,
Several companies appear for the
first time in the new edition Rules
governing investment OF trust funds
for the District of Columbia have been
added to the other information.
The statistics were compiled by
Myles H. Quail, who is connected with
the Booker firm and member of the
Washington Stock Exchange.
First Quarter Makes Record
March was the biggest month in the
best first quarter it has ever recorded,
according to statement made today
by Carmi A. Thompson, president of
Fidelity Investment Association of
Wheeling, w. Va. through the Wash
ington Office.
The company's March business was
S4,573,500, compared with s2,844,O50
in March, 1887. an increase of 81 per
cent. First quarter business totaled
s12.491 800, compared with S8,158,65o
In the corresponding period o. 1887, an
increase of So per cent.
These increases were made over a
year which had broken previous
records with So per cent gain over
1886. the report says.
Assistant Cashier Named.
Directors of the Federal Reserve
Bank of Richmond have appointed r.
w. Mercer an assistant cashier of the
bank, effective at once Mr. Mercer
is native of Richmond and has been
with the Reserve Bank since July. 1920
He was a member of the banks ex-
amining staff for 12 years prior to
October Is. 1887, when he was made
manager of the discount and credit
department.
Frederic P. Benedict, formerly as
sistant counsel to the Federal Reserve
Board on Securities Exchange Act
matters and public utility registration,
has become associated with the law
firm of Burroughs e. Brown in New
York.
James j. Caffrey has been ap-
pointed administrator of the New
York regional Office of the Securities
and Exchange Commission He has
been in charge of the Boston Office
Auto Club Membership Gains.
That the current business recession
Is touching Washington and its en-
virons relatively lightly is indicated
by the membership record of the Key
stone Automobile Club since the first
of the year. According to records of
the club here, membership in this
area has registered an 10 per cent
increase over the same period last
year.
The clubs record of tour routings
during the December-April period ran
substantially ahead of year ago.
which is taken as further sound in
dex of economic steadiness in the
Capital.
Probate Night" Planned.
Theodore Cogswell, register of wills,
and his deputies, as we'll as the ap-
praiser, Cyril j. Smith, will address
the flduciaries' section of the District
Bankers Association Thursday evening
at the Powhatan Hotel, the dinner
meeting starting at $50, Chairman
Irving zirpel, Union Trust Co., an
nounced today. 1t will be probate
night and special honor will be paid
the office of the register of wills which
has rendered such valuable service to
the f1duciaries departments of the
banks for many years. An entertain
ment has also been arranged
Lanston Monotype registered two
So1oS tho 10