Evening star., 1940-06-14
D. {. National Banks
Report Total Assets
Of S241,253,0O0
+ Controller Announces
s2l9,43e, 900 Deposits
On Lost Call Dute
BY EDWARD c. STONE.


$4,000. Controller of the Currency
Preston Delano states in a report
Of condition of all the national
banks in the United States, Just
issued
The nine banks had S52.779 900 in
loanS and discounts. 500. $4,000 in
Government obligations direct and
guaranteed, S10979O00 in other
bonds. notes and debentures, and
$7l3000 in corporate stocks, includ-
tf1g stock of the Federal Reserve
banks, the statement reveals. On
that date. cash balances with other
banks including reserve balances
snd items in process of collection,
totaled S98,279000.
The same banks held demand de-
posits amounting to Sl34 .986 900 and
time deposits aggregating S48, 8,348,-
goo, as well as $32 2,777 900 deposits
Of banks.
Total liabilities, excluding capital
accounts, at the end of March,
amounted to $2203720 000 The
Same banks reported capital stock
amounting to $8700,0O0. surplus of
$4,000, making a total capital ac-
count of S20,88l 900.
4 These banks have $1,000 600 in
Glass A preferred stock and S7,70O000
IN common stock, the survey adds.
No Intangible Tax This Year
Officers of the District Bankers
Association call attention to the fact
that there will be no intangible tax
to be paid in the District Of CO.
lumbia as of July this year. The
tax was wiped off the slate last year
rs a result of bitter and widespread
opposition to continuation Of this
form Of tax. and an income tax
substituted in lieu thereof
For many years bank officials were
flooded with requests from customers
for their balances on July l, quota
tions on that date of all securities
held, and other information Large
sums were also withdrawn from the
banks late in June, placed in bank
vaults or in non-taXable Govern
ment securities, and returned to
bank accounts early i'll July. with
view of avoiding this tax.
Termination Of the tax means
that bank deposits in the Capital
on the next controllers condition
call should be much higher than
they would have been otherwise. a
difference Of several million being
anticipated
Realty Firm Pays Dividend.
Ralph D. Quinter, president of
the Real Estate Mortgage & Guar
ilanty Corp, announced TODAY that
tthe directors have declared the semi
SRnnual dividend Of Is cents per
share on the preferred stock. pay
Rble June % to stockholders of rec
ord June 10. The annual meeting
apf the stockholders was held yester-
DAY. the same board being reelected
The board organized for the coming
Year by re-electing the same officers.
Z Directors Of the Union Trust Co.
!haVe declared a dividend of 8 per
gent, or $3.50 per share, on the out
standing stock, it was announced by
president Ord Preston today. The
disbursement will be made on july
F15 to stockholders Of record June %.
FThe latest quotations on Union
FIrust stock, over the counter, are 70
4bid and 80 asked.
4 The National Savings & Trust
sCo.s contest among employees for
gthe best suggestions on improving
abank operations and service to Gus
-sfomerS was won by William Blum.
Jr. Second honors went to Neal w.
Wells and third to Robert c. Christie.
About 200 members of the Bond
Club of Washington and guests
started for the Congressional Coun-
try Club early this afternoon to at
tend the clubs annual outing. to be
featured by mock stock exchange
session, many sports and the annual
dinner.
Building Activity Holds Up.
The June Federal Reserve Board
Bulletin states that private building
activity has recently been in larger
volume while work on publicly
financed projects has continued to
decline
Residential building has shown
little change in the last year and
continues above the peak volume
attained early in 1897, Apartment
construction has declined somewhat.
while building Of SINGLE family
dwellings currently is higher than
at any time in the last 10 years.
Mortgages selected for appraisal
by the Federal Housing Administra-
ton for new dwelling construction
are at present about two-ffths
higher than a year ago. whereas
those on existing properties are
smaller in volume
Mortgage foreclosures in metro
polltan communities have continued
to decline since early in 1885, ac-
cording to the Federal Home Loan
Bank Board. Rents and vacancies
remain practically unchanged, as
has been the case for nearly two
years. Building material costs and
wage rates have shown few changes
recently. the monthly review dis
closes.
The review also points to the con-
tinued loss of foreign trade due, to
the war. Invasion of the Neither
lands and Belgium added two more
countries to those cut off from
American sources of supply, mar
kets of some Importance, especially
for certain goods"
ID. c. Life Insurance Jumps.
Life insurance sales in Washing
ton in May jumped 20 per cent
above the total for May. 1899. the
Life Insurance Sales Research Bu-
reau, at Hartford. reported today.
Sales reached 5,6390O0 Sales in
the first five months Of this year
amounted to S25925,000, off 3 per
cent from 1899.
Air express shipments for April
increased 25 per cent and gross rev.
enue 245 per cent over April, 1899,
the Air Express Division of Railway
Express Agency reported Ship
ments for the month totaled 82.544.
The Atlantic Coast Line Railroad
reports that net earnings in the
first fOI1r months pf 1Qd0 urora oo,,ol