Evening star., 1939-09-15
D.; {. Bank Deposits
Al AN-Time Peak,
Survey Indicates
Unofficial Reports
Unofficial Reports
Put Present otul
Above S34l, 900, 900
By EDWARD c. STONE.

be at an all-tlme peak, dccorulllS W
an unofficial survey of their present
status completed today.
Deposits are said to be far above
the total of 1923 681 1929 reported
following the controllers call of
June 80 this year. At that time de-
posits here were we'll under the
March figure because of the with
drawals in connection with the Dis
trict's Intangible tax.
Shortly after July ! the money
withdrawn during the period for
making Intangible property tax re-
turns had begun to flow back to the
banks very rapidly. Three weeks
after the call, it was said that nearly
all the funds taken out of bank ac-
counts had been redeposited.
Bank deposits in the Capital
reached new all-time peak on
March 90 last, when the total stood
at s341 .719.357.6l. Bankers in the
financial district said today they be-
lieved the present total is slightly
above that amount.
Fall Bank Call Expected.
Receipt by Washington banks Of
the blanks for a bank call makes 1t
evident that the controller will issue
such a condition request late this
month or early in october. The
forms are much shorter than usual.
The first page will call for assets
and liabilities as usual. In the past,
three pages have been devoted to
exhaustive schedules. This time but
two pages are to be used in this way,
only the most important schedules
being requested, six being required
against Is or 20 in the longer forms.
The Treasury explains that an
effort has been made to relieve the
banks from burdensome details es-
sential only at the end of the fiscal
and calendar years, At present the
shorter forms are to be used in con-
nection with the spring and fall
calls. Bankers naturally, are much
pleased with the condensed forms.
Columbia Votes Dividend.
Directors of the Columbia National
Bank, meeting yesterday declared
a dividend of SO a share, Presi-
dent Frank j. Stryker announced
today. The dividend is payable as
follows-S15 so to stockholders OF
record September %. payable Octo-
ber g. and $3.50 share to stock
holders of record December %, pay
able January 2, 1910.
it, 901 in
Washington Office of Winthrop,
Mitchell & Co. will result from the
merger with Clark Williams & Co.,
lust announced. The firm of Win
throp, Mitchell g. Co. has been in
existence since 1929, and with its
former connections dates back to
1906. 1t has maintained Wash
ington brokerage Office for many
wears, now being located at 729 Fiji
teenth street NV.
All the partners remain as part
ners in the merged firm, which
keeps the name of Winthrop,
Smith & Co. Several of the other
firms partners are now partners III
the merged concern, connected with
the New York office. The new firm
retains seats on all the big eX-
changes, according to Joseph F.
DoWdall. the Washington manager.
1899 Trade Gains Seen Here.
The 8.6 per cent gain in retail
trade in the Capital in August, COM
pared with August, 1888, and the q
per cent pickup in the eight month
period, reported by the Richmond
Federal Reserve Bank, were highly
pleasing to both bankers and mer-
chants. The August advance was
one of the best gains so far this year,
comparing with only per cent in
July and 18 per cent in June.
The best monthly gain for the
present year was in May when de-
partment store sales in Washington
were 1873 per cent better than in
May, 1898, and Is per cent up in
the whole fifth district.
In March the Richmond Bank re-
ported gain of trade of 8.9 per
cent, just little better than the
August rise. This jump was followed
by modest setback in April.
Will VIC pSSJ ICUdll u dtiC
of the year approaching, this weeks
report for eight months indicates
that sales volumes in Washington
for the full year will exceed 1888.
New Store Opens.
A new shoe business will greet the
Capitals women shoppers tomorrow,
when the Chandler chain of shoe
stores opens its first Washington
establishment at 1903 street NV.
The Chandler organization is said
to be the largest retailer of women S
shoes exclusively in the United
States and has outlets in principal
cities throughout the country.
The latest trend in store design is
reflected in the new building to be
occupied by the business. A white
marble front, featuring a decorative
second-story window, has been built
The display windows are rounded
and have gold trim,
Only hosiery and handbags are on
view within the establishment, all
shoes being kept in a stock room to
the rear.
H. Siegle has been named man
ager of the new store and Ted
Weaver will be assistant manager
Local salespeople are being en-
ployed it was stated.
Financial District Comment.
Prince Georges Bank & Trust Co
stock appeared on the Washington
exchange board yesterday for the
first time this year, when IA shares
sold at 18. The stock pays so cents
a year dividend.
c. L. Robey, president of the First
National Bank, Purcellville, and last
years president of the Virginia
Bankers Association, will be among
the Old Dominion financiers at the
Seattle A. B. A. convention.
C. w. Beerbower, secretary of the
Virginia Bankers Association, of