Evening star., 1938-02-10
DISTRICT BANKS
SHOW PROGRESS
Controller Reports Gains in
Deposits and Earnings in
Last Fiscal Year.
By EDWARD c. STONL

BY EDWARD c. STONyL.
Total assets of the % active banks
in the District of Columbia on June
80. 1887, aggregated $355, 1896, 900, ac-
cording to the annual report made
public today by Controller of the
Currency J. F. T. O'Connor
The nine national banks had assets
OF $l95 100000, the five trust COM
panies assets of $128,219OOO and the
eight savings ana State banks assets
OF $31, ,977, 900. the report says.
Total deposits In the % banks
were S308,8l1 900, of which $174,761,-
900 was carried by the national banks,
$105,91 900 by the trust companies
and s28,135,OOO by the savings and
State banks.
Loans and discounts at the end of
the fiscal year totaled $102,889, 900.
Bank deposits evidenced by savings
passbooks totaled S97,536,O0O. At the
same time the banks had S450,000
IN postal savings on deposit, the con-
troller reports
AAC lllOlC tlldll G,uuU,OUU al lOdllS
and discounts was considerably larger
than the total in 1886, 1885, 1884 or
1888. Balances with other banks were
much smaller than in 1886 on ac-
count of higher reserve requirements.
Both demand and time deposits were
much higher than totals in compari-
sons back to 1882.
Banks Have Larger Earnings.
Washington banks had very salts
factory earnings for the fiscal year
ended last June. Trust companies
and savings banks reported total net
earnings of sl,792,OOO, against ST.
$4,000 at the end of June, 1886.
Trust department earnings were
highly favorable, and earnings from
service charges on deposit accounts
were the largest they have ever been.
Expenses were kept well in hand,
Controller O'Connor reports. In
banks other than national there were
907 employees at the end of the year,
against 954 at the close of the previ-
Gus year, the report states.
In his report of banking conditions
all over the country Controller O'Con-
nor stated that continued improve
ment had been shown in the condi-
ton of all classes of active banks.
During the year ended October 81,
1887, 34l national bank receiverships,
including two District of Columbia
State bank receiverships under the
supervision of the controllers Office,
we're liquidated and finally closed.
This is the greatest number Of clos
ings ever effected during control
ler's report year.
$113,600,oO0 Paid Depositors.
These banks had deposits at failure
Of s154.754.207, of which s1l3,60O, 900,
or 73.41 per cent, was returned to
depositors. The total cost of liquida-
tion in these trusts was 683 per cent
of the collections from assets and
stock assessments, including offsets
allowed.
Remaining in process of liquidation
on October 81 we're 862 national and
District of Columbia State bank re-
ceiverships. Their total deposits at
date OF failure were sl,6S9.37 900. Of
which approximately S1,227, 7,000,0 900,
or 1853 per cent, had been returned
to depositors
Receivers have estimated that ad-
ditional payments of $237,5 900, or
1905 per cent, will be made, bring
ing the total estimated recoveries to
depositors in all the remaining re-
ceiverships up to 1865 per cent, the
report states.
27 D. C.. Loan Associations.
The assets of the p building and
loan associations in the District of
Columbia under the supervision of
the controller Of the currency on
June 80, 1887, totaled Sll7,840, 900
and exceeded by S5,238,00O the assets
of % associations on June 80 a year
ago.
The loans, which aggregated $1O8,-
100000. showed an increase in the
year Of s6,128,O0O. Installment pay
ments on shares increased also from
$99.6s8,O0O to $103,631,0OO
twenty-five of the associations op-
Grated on the permanent plan, four
on the serial plan and one on both |
the permanent and serial plans. The
total membership was l26,759, as
compared to 1859 members a year
ago, and of the tota in the current
year the numbers borrowing and non
borrowing were 3O,305 and 96,454,
respectively. Controller O'Connor re-
ported.
Fifth District Trade Firm.
Ffty-four stores in q cities in the
Fifth Federal Reserve District re-
ported that retail sales averaged
exactly the same in January as in
January year ago. the Federal Re-
serve Board governors announced here
today. Trade in the whole IL dis
tricts was off per cent Dallas, with
8 9 per cent rise, made the best show
ing, while sales in Chicago were down
8 per cent. Comparisons with Janu-
ary, 1887, follow:
Jan" Stores. Cities.
q. S. total a 436 26O
Reserve districts:
Boston --- 4 SO SO
New York - q SIS %
EL,iIo do1ph;o 90 20