Evening star., 1938-05-06
DEPOSITS MOUNT
IN FIFTH DISTRICT
Survey Also Reveals First
Upturn in Industrial Loans
in Two Years.
Nv EDWARD C. STONE.

$4,000 between March 16 and April
13. 1888. but all other important items
on the composite statement increased.
Investments in securities rose by S.
006, 900. reserve balances at the Federal
Reserve Bank increased by $2,824, 900,
end cash in vaults rose by S3.646. 900.
At the same time deposits rose ma
terially, demand deposits gaining S.
$4,000 and time deposits increasing
by sl,990.000
In comparison with the figures a
year earlier. on April IA. 1887, figures
for April 13. 1898. show slight in
crease in loans and discounts, rise
Of sl0,780000 in aggregate reserve
balance with the reserve bank, and
gain of 81. .096 900 in time deposits, but
investments in securities declined by
sl6.sl5,00o during the year. cash in
vaults dropped a little. and demand
deposits decreased by s35,057 900, the
Richmond Bank says.
Deposits in 10 mutual saving banks
In Baltimore reached new high level
at the end of March, totaling $2l9.-
742.l24 in comparion with the former
record of s2l9,55l .3o5 in deposit at
the end of January this year. The
March total compared with deposits
sggrega ting s2l9.508, ,92l on February
%, 1898, and s2ls,369,oO on March
81. 1887, the latest review shows.
The Richmond Bank review notes
capital rose between the middle OF
March and the middle OF April by s43,-
000 after steady decline for the past
two years. Inquiries about industrial
loans have recently increased at the
Reserve Bank.
Total earning assets rose by s4.247.-
0n0 during the month and by 1887.
200 in the past year. At another point
in the report it is stated that debts
to individual accounts in Washington
banks totaled s245 40l 900 in March,
gain over February of 1873 per cent,
but drop of l42 per cent from March
year ago.
Yankee Sense Still Vital.
Emphasizing that without savings
there can be no secure future for the
American people. and urging better
understanding between the public and
its banks. A. George Gilman. president
Of the Savings Banks Association Of
Massachusetts, spoke before the Ma
tional Association of Mutual Savings
Banks in New York yesterday.
Nowadays We sometimes even hear
thrift discounted as something no
longer necessary in the happy days
here again." he said But l say to
you that all the governmental plans
ever devised will not take the place
Of well-directed economy in our per-
sonal affairs Thrift means more than
the cultivation OF mutual savings
bank account. important as that pur-
pose must ever be.
1t means more than the upbuilding
of an insurance estate. or the owner
ship of home. or a dozen other de-
sirable acouisitions thrift. in the old
Yankee sense. means building char
scter. And character is vital today
above all else" the speaker asserted.
The relationship of the Federal
Reserve System to business and bank
ing was discussed by NJ S. Szymczak.
member of the board of governors of
the system. Describing its functions.
he said at one point that the Federal
Reserve does MOTT cannot-exercise
an absolute control over the use of
credit: it does exercise an influence
cver the use Of credit. It's object on
the one hand is to encourage sound
business activity and on the other to
discourage unsound activity"
Noted Bankers Visit Capital
Secretary Morgenthsu called group
OF leading private bankers to the
Capital this week to ask their views
on prospective changes in Federal
bank examining practices.
Included in the group were T. J.
Coolidee. former Undersecretary of
the Treasury and an officer of the
First National Bank OF Boston; Tom
K Smith. president of the A. B. A.
last year and president of the Boat
mems National Bank of ST Louis;
Robert Hanes Of the Wachovia Ma
tional Bank Of Winston Salem, Joseph
Broderick. president of East River
Savings Bank. and William White.
superintendent OF banks in New York
The group discussed for almost two
hours the proposed changes in Federal
bank examining practices which an
interdepartmentsl committee has
proposed at the request of President
Roosevelt.
Air Mileage on Increase.
United Air Lines for the first quarter
Of 1888 few 81 per cent more revenue
miles than for the same period of
1887. w. A. Patterson. Uniteds presi-
dent, stated today in a report made
here.
In anticipation of increased traffic
this summer over that of last year.
Uniteds new schedule provides for IS
per cent more seat space than was
available for the peak traffic OF last
year. The major portion of the addi-
tional accommodations are being pro-
Nded on the New York Chicago
Pacific Coast airway.
Molster Named Manager Here.
c. B. Molster has been appointed
manager of the Washington sales
zone for the Hudson Motor Car Co..
Sales Manager c. B. Beeching an
nonnced today. Mr.. Molster has been
engaged in sales work for the Hudson
Motor Co. for the last Is years. most
OF his activities being the territory
Of which he now becomes manager.
He has made his home in Washing
ton since 1900 and for the last few
months has been acting as assistant
to Mr.. Beeching in zone sales work.
The appointment is already effective.
Traction Bonds Sell Lower.
Tn a $500 transaction on the WASH
ington Stock Exchange today Capital
Traction SIS sold at 81. the lowest price
for the present year. The bonds
opened 1898 at 10 and the lowest
previous sale was at IS.
Only few days ago the Capital
Transit Co. reported a profit in the
first quarter OF this year in comparison
with a deficit in tho ca mo roriod q