Evening star., 1939-01-16
Washington Banks
Grow Very Rapidly
In 5-Year Period
Controller of Currency
Notes $72,532,000 Goin
In Assets Since 1884
BY EDWARD C. STONE.


nual report made public today. This
was gain of $72, ,532, 900.
The report stated that assets ad-
vanced to 5000, ,741 900 on June 80,
1885, to s35O,628,OO0 by June, 1896,
and to 1855 ,2960 90 on June 30, 1887,
just bit higher than on the same
date in 1893.
Loans and discounts in the banks
In the District totaled $86, ,657 900 on
June 80, 1884. and had moved up to
$98, 10000 by June, 1888. Total
loans and investments jumped from
1892 900 in 1884 to 1928, ,708 900
in June of last year, the report
added.
The banks owned less real estate,
other than banking house property,
in 1888 than in the fve-year earlier
period. Their balances with other
banks, including balances with the
Federal Reserve System. showed a
substantial increase in the five years.
Both demand and time deposits
scored substantial advances In
June, 1884, all deposits totaled $685.
in June, 1886, s306,413000; in June,
1887, $308e11 00O and in June of
last year had dropped off slightly to
S3O6,862 900.
The Washington banks carried a
total surplus in 1884 of S13,175,OO0,
which by June, 1888, had moved up
to Sl4,602 900. In the same period
undivided profits advanced from
s4412,O00 to IS, $4,000. Many other
comparisons are included, all of
which reveal sound progress in the
flve-year period.
Building, Loan Assets Mount.
The assets of the 26 building and
loan associations operating in the
District of Columbia under the su-
pervision of the Controller of the
Currency on June 80. 1898, totaled
Sl22, ,730 900 and exceeded by S4.690,-
900 the assets of q associations on
June 30, year ago.
The loans, which aggregated STA
185,000, showed an increase in the
year of s5282,000 Installment pay
ments on shares increased also from
e103, ,63l 900 to S1O8 ,277.O0O.
Twenty-one of the associations
operated on the permanent plan,
four on the serial plan, and one on
both the permanent and serial plans.
The total membership was 130,OS4,
rs compared to 126.759 members a
year ago. and of the total in the
current year the numbers borrowing
and non-borrowing were 81 Gal and
nn ~ y
The controller reported that at
the close of business October 81,
1888, there were "a active credit
unions operating in the District of
Columbia, which were recommend
ed by his Office and licensed by the
District Commissioners, under the
Credit Unions Act.
The national review states that
the only national bank charters is
sued during the year were in connec-
tlon with reorganizations. There was
only one actual national failure, 365
i1solvent national banks were lioui-
dated and $40 are still in process of
liquidation.
Bishop Heads Title Concerns.
Directors of the District Title In
turance Co., the Lawyers Title
Insurance Co., and the Washington
Title Insurance Co. elected these
officers to serve for the ensuing year:
Arthur G.. Bishop, president and
title officer; Joseph N. Saunders,
Charles w. Stetson, George H.
OConnor and Francis E. Smith,
vice presidents and title officers;
James Med. Shea, vice president;
Albert F. Miles, vice president: H.
Stanley Stine, vice president and
title officer; Harry M. Packard, sec
retary-treasurer; John H. Stadtler,
assistant secretary-treasurer and E.
Roy Hill, assistant treasurer.
First Federal Votes Dividend.
According to c. H Ellingson.
executive manager, the First Federal
Savings and Loan Association of
washington closed its first yeo" of
operations by passing the Sc
mark in the total volume OF .43
loans placed on its books. 10 be
exact, the figure was S2,177 ,532,
representing loans made by the asso-
citation on first-lien trusts placed
within the District of Columbia and
adjacent territory.
Mr.. Ellingson also announced that
a dividend had been declared by the
Board of Directors for the six-month
period ending December 81, 1888, at
the rate of 3l2 per cent per annum.
200 Bankers Meet Tonight.
More than 200 bankers are ex-
pected to attend the midwinter
meeting at the Raleigh Hotel this
evening, the list being made up of
senior bank officials and directors.
Two short addresses are being head
lined one by Representative Henry
B. Steagall. chairman of the House
Banking and Currency Committee,
and the other by William R. Kuhns.
editor OF Banking. The meeting will
start at 8 o'clock, with President
Hllleary G. HoskinSon in the chair,
Loan Firm Names Officers.
Walter L. Green was reelected
president of the City Industrial Saw
ings & Loan Co. of Hyattsville, Md,
at the annual meeting of stockhold-
ers just held. Other officers re-
elected include: M. w. Bohrer, vice
president; Lewis Eisele, vice presi-
dent; George G. Howard, executive
vice president and secretary, and
Clifton M. Eisele, treasurer. James
S. Easter was named assistant sec
retary and assistant treasurer.
Twenty-one directors also were
elected.
The annual report showed busi-
ness increased during 1888 Is per
cent over the preceding year.
Heard in Financial District.
The Security Savings & Com
mercial Bank is sponsoring radio
program over WRC Sunday after
noon, from Ais to 4:30, on Famous
Homes of Famous Americans" the