Evening star., 1939-03-10

WI doA al
most cities the month had the same
number of business days this year
and last year.
Bank Deposits at New Peak.
Aggregate deposits in Washington
banks are believed to be at the high
est point in the Capitals history,
according to an unofficial survey
completed today. Bank vaults con-
tinue to bulge with more funds than
officials are able to loan to advan-
tage under present limited demands.
The highest previous deposit mark
was reached on December 81, last,
when the citys % banks reported
a total of $341 ,522, ,76674. This figure
disclosed sensational gain of $34,-
664 ,42O98 in the last six months of
the year which was also a record
advance.
Bank deposit are coming into the
Imelight just now because of the
expected condition call from the
Controller of the Currency, either
during the present month or early
in April. A call is usually issued
around the end of the first quarter,
as was the case year ago.
The survey just made shows that
several banks in the city now have
the largest deposits they ever had.
That indicates that the total for all
the banks is probably at new peak,
bankers said today.
Should Controller Preston Delano
Issue call around the end of March,
deposits will not be quite as high
as they are now Income tax pay
ments and other taxes will pull them
down somewhat, although they will
still be at very high level.
Six Recovery Helps Urged.
At yesterdays session of the bank
ing conference in New York, which
is being attended by financiers from
this territory, Earl B. Schwust, first
vice president of the BoWery Savings
Bank, suggested six point program
for removal of fundamental de-
torrents to recovery" They we're:
l. Revision of tax laws.
2. Extension of the administra-
tion's policy of breaking down tariff
barriers everywhere.
3. Resumption of lending abroad.
4. Frank exposition by the admin
istration of cooperative attitude
toward business.
S. Tipping of salaries and wages
by corporate management to correct
maldistribution of income.
6. Broadening of investment
powers of savings banks and insur-
ance companies
New Financing Vital Need.
j. Harvie Wilkinson, vice president
of State-Planters Bank & Trust
Co. of Richmond, Va, advanced a
program to make corporations debt
conscious He urged liaison be-
tween his association and the In
vestment Bankers Association to
work out g program of corporate
financing that will fit the pattern of
bank investment He said:
by relating our present loans,
our intermediate credit, our bond
account, and our strictly short term
commercial loans to each other, to
our capital funds, to the nature of
our deposits. and to the economy
of the area We serve, 1t is perfectly
possible for a banker to earn money
to run his institution soundly and
to function we'll in the banking sys-
tenn of which each one of us is only a
part"
Squier Wins $500 Gas Award.
w. R. Squier advertising manager
of the Washington Gas Light Co.,
was judged first-place winner in the
Nationwide contest conducted by the
Association of Gas Appliance and
Equipment Manufacturers in which
awards were granted to advertising
managers of gas utilities and combi-
nation companies, whose local ad-
vertising activities best tied-in with
the American Gas Associations s
1888 national advertising campaign.
The announcement was made by F..
E. Sellman, chairman of the Con-
test Committee, from the national
headquarters in New York
Mr.. Squier's entry for the Wash
ington Gas Light Co. was cited for
"distinctiveness and originality in
presenting the ideas of the national
campaign and applying them to the
local merchandising of gas appli-