Evening star., 1938-03-24


deposits of S2.480,24l,1 ,149 and is fol-
lowed by 10 other billion dollar banks,
namely:
Barclays Bank Ltd, Lon
don ------S2 2,165,68 ,773
Chase National Bank,
New York -- 2,o6s, ,ss9 SIS
Lloyds Bank. Ltd, Lon
don ----- 2,o49, 1928, ,l2s
Westminster Bank, Ltd,
London 1.s43, ,353,s
National City Bank, New
York -- I'LL, ,552, ,124
National Provincial Bank,
Ltd. London 1901 ,887.Oll
Guaranty Trust Co., New
York ---- - 1,449,so7 ,5l3
Bank of America, San
Francisco --- l,357,37s,75e
Federal Reserve Bank,
Chicago - - - 1852, ,o28, 1873
Continental Illinois, Chi
caeo - - -- 1oo6, ,694, ,791
Metropolitan Votes Dividend.
Directors of the National Metropoli-
tan Bank have declared the regular
semi-annual dividend of per cent on
the outstanding stock. payable April
is to stockholders of record April 5.
President George W. White announced
today. The meeting was held yester-
day afternoon
The American Security & Trust Co.
has joined the growing list of Wash
ington banks which have installed au-
tomato repositories The purpose of
these repositories is to save depositors'
time on Government pay days and
during rush hours. The new depository
has been installed in the main Office.
Those already in use in the banks here
are growing steadily in popularity,
bankers report.
Fewer Mortgages Insured.
Home mortgages accepted for in
surance by the Federal Housing Ad-
1ninistration in January numbered
4,637 and totaled S19,34O.30O in
amount. This compared with 6.710
mortgages amounting to s27.847 500
accepted during December and 1923
mortgages amounting to S29.097 100
accepted for insurance during Janu-
ary year ago.
The decline is believed due partly
to declining residential construction
and partly to prospective mortgagors
postponing applications until the more
liberal mortgage insurance terms of
the then pending National Housing
Act amendments of 1888 we're in ef-
feet. the Housing Administration as
serts.
Roper Urges Business Aid.
Making public the final analysis of
letters from small business men,
Secretary of Commerce Roper in
dicated that some action should be
taken soon to give financial aid to
small business concerns.
The Secretary's report on the small
business letters especially noted the
fact that these letters differed from
the report of the recent small business
conference in that they held the
commercial banking system was un-
able to supply adequate credit.
The majority of the writer's, the
Secretary said, indicated their belief
that the existing banking system
failed to meet the needs of the small
business man. Most of the writer's
thought that the difficulty was in the
severity Of national banking regula-
tions and the restrictions imposed by
bank examiners, especially those of
the Federal Deposit Insurance Corp.
Asked if he believed the letters re-
hected sufficient distress to necessitate
quick action, the Secretary replied:
Certainly. if we did not think there
should be some action to aid these
small businesses we would not have
invited the letters nor made this
analysis"
Movies Show Bank Operations.
G. Edward Foreman of the Riggs
National Bank gave talk last eve
ming before the students at Arlington
Hall Junior College on banks and
how they operate. He presented some
most interesting pictures of bank en-
ployes actually at their daily tasks.
For example, he showed three checks
and their movements, one made out
to the Riggs Bank as it went through
channels in the bank; another drawn
on the American Security e. Trust
Co. showing 1t on the way to the
Washington Clearing House for collec-
ton. and the other on an out-of-town
bank, showing it being turned over to
the transit department for action.
Mr.. Foreman gave a similar talk
recently before the Marjorie Webster
School, being accompanied by Mrs.
Constance Fogle Jones of the same
bank, who spoke on Opportunities
for Women in Banking"
Today's Trading on Exchange.
On the Washington Stock Exchange
today So shares of Potomac Electric
Power 51a per cent preferred stock, in
seven successive sales. changed hands
at 1l2l2. The same corporations 6
pei cent preferred moved at 1l2A
Washington Railway & Electric pre-
ferred stock sold at 110Ss, and 257
shares of Real Estate Mortgage g.
Guaranty preferred stock sold at S.
Raymond L. Jones, National Metro
politan Bank, announces that the
finals in the American Institutes bowl
ing tournament will be run of Satur-
day afternoon at the Arcade Alleys,
many prizes to be awarded the winners.
The junior bankers have some fine
bowlers, and lively contests are antici-
pated.
Dollars and Sense, A. E. Henze. edi-
tor in chief, appeared in the financial
district today, and once again was
crowded with news about Washington
Chapter, American Institute of Bank
ing.
Bankers and merchants are looking
for some fine retail trade comparisons
in April This will include the period
Just before Easter this year, as COM
pared with the period after Easter a
year ago. Substantial differences from
the March figures are expected.