Evening star., 1939-08-13

J. M. Christie. soid retoi1 +rod.
experienced some mid summer
slackening in volume, but as a
whole exceeded trade for the COM
parative period last year.
This midsummer slackening was
reflected here, where all stores with
the exception of one, reported de-
creases from the previous week,
with a resultant average decrease
Of As per cent.
Bank Clearings Rise.
Bank clearings here rose to $21,-
e49 9,691 as compared with $20,O29,-
$50 a year ago. Visitors to the
Smithsonian Institution, another
criterion of conditions here. rose to
81 ,901, as compared with 69,240 the
previous week, and 66,694 a year
ago. Building permits were down,
however, to $436,20O as compared
with s614,700 a year ago. Total
passenger revenue of the Capital
Transit Co. for the past calendar
week was $218,299, as compared
with $l99,27l year ago.
John M. Christie of Riggs Ma
honal Bank has been appointed
chairman of the membership COM
mittee of Washington Chapter,
American Institute of aBnking, it
was announced last night. He is
second vice president of the chapter,
has served in many capacities, and
has attended national conventions
OF the A. I. B.
The committee soon will start
work of enlarging the present chap
ter membership of 600, it was an
nounced. The committee members,
In addition to the chairman, are:
Leona E. Draeger, Washington Loan
& Trust Co.; Ralph R. Kidwell,
Security Savings & Commercial
Bank: Robert V. Mellefont, Riggs
National Bank; Daniel j. Murphy,
American Security g. Trust Co.;
Samuel c. Redman, Lincoln Ma
tional Bank; John S. Warner.
Union Trust Co.; John E. Wilson,
Morris Plan Bank.
Dividend Payments Thursday.
Stockholders in the Bethesda In
dustrial Savings & Loan Co., Be-
thesda, Md, will receive dividend
payments Thursday, it was an
nounced yesterday by Clifton M.
Eisele, president of the Southeastern
Industrial Bankers, Inc, of which
the Bethesda institution Is an affll-
late.
Payments Of 10 cents a share on
common stock and 7 per cent on
preferred will be made to all stock
holders Of record, he explained.
This is the third affiliated insti-
tuition in the chain of low-rate in
dustrial loan companies which has
declared regular quarterly dividends
this month. The others were the
Southeastern Discount Corp. of
Washington, and the City Industrial
Savings & Loan Co., Hyattsyille
Md.
Gas Light Co. Stock,
Most of the offering of 362. .588
shares of Washington Gas Light
Co. no-par common stock has been
sold at $3.50 share by the syndi-
cate, with which several local invest
ment houses were associated, it was
learned in the financial district
Many OF the shares were purchased
by Washingtonians, which would
indicate that some measure of con-
troll OF the company may return to
this city.
Following issuance of a formal
order authorizing the sale of $4,000
shares OF new stock of the gas COM
pany about two weeks ago, the Sc
curities and Exchange Commission
has just issued its formal opinion
IN the matter. The opinion con-
firms in detail what the commission
had previously authoritative sale
OF the new issue.
Riggs National Bank of this city
Is included In the list of 108 banks
in the United States each of which
has resources of more than $780,
600 1000, according to the American
Banker, out yesterday.
The largest bank, at the top OF
the list, is New York Citys almost
-billion-doll Chase National
Bank, which now is ranked as the
largest commercial bank in the
world in point of total resources.
Its total asset footings as of June
80 we're s2,983, ,435 ,231, and deposits
were s2,696 486,354, placing it ahead
Of Midland Bank, Ltd, of London.
Riggs in 8lst Place.
Riggs National Bank is shown at
81st place in the list of national
banks in the $100,0O0,OO0 class. Its
capital structure is listed at $41OO,-
600, of which $1,100,000 is preferred
stock, and 100000 common stock
as Of June 30.
Riggs total resources June 80,
1899, stood at $104,841, ,678 as COM
pared with $97 ,889 1863 for the same
period a year ago. This date of the
bank call of the controller of the
currency always finds deposits in all
Washington banks low, on account
of Withdrawals by depositors to avoid
payment of the personal property
(See STORES, Page BID