Evening star., 1939-04-22
Residents Of Capital
Increasing Savings,
Bank Review Shows
Report Of Controller
Reveals Other Coins
During Past Year
BY EDWARD c. STONE.

During Post Year
BY EDWARD c. STONE.
Washingtonians are becoming
more and more thrifty as time
marches on, according to summary
of the banking situation in the
Capital just completed by the con-
troller of the currency.
On March 20, 1899, the % active
banks in the District carried 272,-
684 savings accounts, in comparison
with 27l,375 on December 81, 1888,
and 265,867 year ago following the
March T. 1888, condition call.
Not only the number of savings
accounts in Washington increased
during the past year, but also the
amounts. The recent call disclosed
that the banks here held SOL ,991 900
IN savings deposits on March 20, as
compared with $l00,363 900 at the
end of December and $99 1912 900 at
this time year ago. On March %,
1899, the nine national banks had
$41 ,841 900 in savings funds on their
books, the eight savings banks $l4,-
$4,000 and the trust companies
$45 ,497 900.
Total Assets Reveal Gains.
The controllers summary shows
that total assets of the % banks
made gain of s7,556 900 during the
past year. Assets on March 81, this
year, amounted to $3.50 zoe, 900,
against $685.. .144,0O0 a year ago and
1899 ,045, 900 three months ago.
The banks reported total loans of
$l01 TAI 900 on March 20, just a lit
tie higher than the $99,8l3 900 total
three months ago and $1O05 900
a year ago. Total investments fell
of bit in the first quarter of this
year, $135 .641 900 on March % COM
pairing with $l38 .533 900 on Decem-
Der 81 and $135, ,489 900 on March 7,
1898.
On March %, 1899, the local banks
were carrying s87947, 900 in United
States Government securities; $92,-
$4,000 on December 81, and $780,
431 900 on March a year ago. The
national banks held $55,242 900 in
these securities. the trust companies
30,962, 900, but the savings banks
had very little money invested in
.his manner, only $1,743,00
Upward Trend in Profits.
The banks in the Capital on
March 20, 1899. had total deposits
of $341 100000. the highest mark in
the history of the city, compared
with $341; 500 900 in December and
e335 ,524, 900 in March of last year.
The controllers report shows the
banks had larger surpluses on March
20 than on the other dates, $685.
600 comparing with $l5.873000, three
months ago and $l4,478,000 a
year ago.
Undivided profits were also larger,
1851 900 on the last call, against
$8.450,000 in December and $780,
900 in March, 1898. Reserves were
also substantially higher than on
the other comparative dates, the
abstract reveals.
Although the banks have a lot of
money on hand which they would
gladly invest to advantage, the con-
troller's picture presents these insti-
tutions in sound and prosperous
condition. The figures speak for
themselves.
Insured Mortgages Increase.
Latest reports from the Federal
Housing Administration state that
District OF Columbia home mort
cages accepted for insurance by the
r. H. A. have been mounting steadily
IN 1899, the number accepted IN
February being more than five times
greater than the record for Febru-
ary, 1888.
In Washington, in February, 1898,
seven of these home mortgages
were accepted for insurance. amount
Ing to 700, while in February,
1899, 81 were accepted, amount
ing to 1903 600. In the first two
months Of this year 62 such mort
cages were accepted, amounting to
1858 200, the report says.
The record for the whole coun-
try showed that home MORTGAGES
accepted for insurance by the F.. H.
A. during February numbered 9839
and amounted to 41,223, ZOO, COM
pared with 1865 in February a year
ago, amounting to only s18,865 700.
Ways to Guard Investments.
Mackubin, Legg & Co., in the
woodward Building, has been dis
tributing pamphlet on investment
management, some interesting sug-
gestions for the individual being
presented. Even though securities
are sound when purchased, The
brokerage firm says. they must be
watched very closely, some of the
factors which will determine their
future soundness being:
World and domestic conditions
economic. political and social
Conditions pertaining to the in
dustries involved, including raw ma
terial and labor costs, competition,
supply and demand, selling prices
and chronological developments.
Conditions surrounding the in
dividual companies, including those
common to the industry and the
momentous factor of management.
Heard in Financial District.
Members of Washington Chapter,
American Institute of Banking, are
saving their money for American
Institute of Banking Day" 4t the
Worlds Fair, New York, on May IA.
New York Chapter will be host to
243 chapters. This is the week after
the national convention at Grand
Rapids. The junior bankers will be
welcomed by Philip A, Benson. presi-