Evening star., 1939-07-21
Savings Deposits
In Capital Banks
Gain During Year
Controller Reports
Increases in Looms,
Assets and Surplus
By EDWARD STONE.

Despite painfully low interest
rates, the spirit of thrift continues to
prevail in Washington, total savings
deposits being higher now than at
the same time a year ago.
The Controller OF the Currency
has just completed a summary OF
the condition of the Capitals banks
following the call dated June 80. At
that time savings deposits in the
banks here aggregated $99,473 900
compared with the lower total OF
SAT- 900 on June 80, 1888.
Savings deposits, however, were
slightly lower than the total of Sl0l,-
99l0O0 reported after the Control
ler's call of three months ago. This
slight drop was due to the usual
Withdrawals in June due to the ap-
proach of the Intangible property
tax date.
Savings deposits in the nine ma
tional banks on June 80, 1899,
amounted to $40, $50 900, in the eight
savings banks to $14,778000 and in
the five trust companies to $44 ,106,-
600. While the comparisons with last
year are not striking. they indicate
that Washingtonians are not willing
to lower their savings accounts.
Other Deposits Also Higher
Demand deposits of individuals,
partnerships and corporations also
gained during the year, $165,951 900
year ago comparing with STA $685.
600 on June 80, 1939 Time deposits
of individuals. partnerships and cor
porations advanced from SLOT ,787 900
in June, 1888, to S11O, 1853 900 at the
end of June, 1889
AS noted in The Star since the
Controllers recent condition call. all
classes of deposits totaled 1923 68l,- :
600 on June 30, this year against the
much lower figure of S306 1862 900 in
June, 1938
Undivided profits also advanced
during the year, from S8,793 900 to
$93l7 ,000 while surplus moved from
Sl4,602 900 to S16,l26,000 At the
same time reserves moved from ST.
476000 to 81 ,095 900 on June 80, 1889.
The Controllers review of bank
assets discloses that loans on real
estate advanced substantially during
the year. From total of S35 $40 900
in June, 1888, they climbed to SAL
$4,000:
Total Loans Reach S104,519 900.
Other loans gained slightly, but
far too slowly to suit bank officials.
The total year ago was s62 1850 900
and on June 30. 1899, s62 ,635 600
Total loans moved from S98,200,0 900
to s104 SIG 900 during the year.
Total bank investments changed
but little. Sl30,506O 900 a year ago
comparing with S130851 900 in June
1889 They were higher on March 90
than on either of the other dates
$l35 .64l 900, the report said.
Total assets made substantial ad-
vances during the year. From S354.-
SIT 1000. they climbed to a total OF
1912 27l3,000 in June and back in
March were as high as $3.50 700 900.
The national banks now have assets
of S208, 100000 the savings banks,
$37 100000 and the trust companies,
Sl26,607 900.
That District of Columbia banking
institutions are in an enviable posi-
ton is clearly shown by the maj jor
comparisons with the existing con-
ditions II months ago.
The analysis confirms various re-
ports that the banks have increased
their interest in real estate loans OF
certain types, in their tireless efforts
to find new fields in which to put
their money at work.
Booker Heads District Area.
The National Association of Secur-
ity Dealers, Inc, which filed applica-
ton with the Securities and Ex-
change Commission yesterday for
registration under the Malonev Act
is to be divided into IA districts for
administration purposes. each Of
which is to have district COM
mittee
The registration states that Y. E.
Booker, head of the investment firm
bearing his name, will be chairman
of District II, which includes the
District of Columbia and the States
of Maryland, Virginia, West Virginia
and North Carolina.
Mr.. Booker has taken great in
terest in the preliminary work of
organizing the National Association
of Security Dealers, has acted as
chairman for this territory and
served on important committees.
The Maloney Act deals largely with
over-the-counter trading, presenting
a program of cooperative regula-
ton. 1t is the longest step ever
taken in connection with securities
which are not listed on the leading
exchanges.
B. Howell Griswold, jr., of Alex
ander Brown & Sons, Baltimore, is
chairman of the new association.
Head Offices are at 1910 Vermont
avenue, this city. Wallace H. Full
ton. Washington, is director, and
David w. Evans, Washington, is
controller
Clearings Ahead of Last Year.
The Washington Clearing House
reports bank clearings for the week
ending Wednesday amounting to
$26,852, ,45O08, compared with the
lower figure of S23 ,165 ,15483 for the
corresponding week year ago, an
increase of 1877 per cent. For the
previous week, this year, clearings
totaled S27,11009487, drop of
$257 ,64479
Secretary Morgenthau states that
the Treasury will announce on Mon
day the terms of a new offering of
S200,000000 in Commodity Credit
Corp. obligations. Mr. Morgenthau
said that the Treasury is acting at
the request of the Secretary of Agri-
culture and that the proceeds of the
issue will be used to pay off corn
cotton and wheat notes that may be
presented for payment by banks be.
ginning July 81.
Heard in Financial District.
Potomac Electric Power 6 per cen
preferred stock drew all the atten
tio,, ~, Tho C&oolx IT,,