Evening star., 1940-03-26
D. T.. National Bank
Assets Reported at
S232,185,o00-
Controller Finds Looms
And Discounts Hit
$51, ,608,000 Mark
By EDWARD G. STONE.


issued by the Controller of the Cur
rency Preston Delano.
The nine banks held loans and dis
counts totaling $51 ,608, 900, United
States Government obligations of
S68, ,563 900 and cash, balances with
other banks, including reserve bal
ances and cash items in process of
collection, amounting to s91, 1872, 900,
the analysis says.
The review shows that liabilities
included demand deposits of $l29,-
3630O0 and time deposits of $46,-
995000, various other deposits bring
ing the total to s2l0,659,000. The
capital accounts record is of equal
interest, capital stock totaling $8,-
100000, surplus amounting to So
10000. while the nine banks had
aggregate undivided profits of $4,-
$4,000.
Commercial Loans. S21, ,46S 900.
Other than their bank premises,
these banks owned residential prop
critics in the amount of $482 900, and
other properties in the sum of
$261 900, bringing the property item
to S743000.
Commercial and industrial loans
at the end of last year totaled S21,-
468,OO0, loans to brokers and dealers
in securities were way down, being
only S417,000 Other loans for the
purpose of purchasing or carrying
stocks. bonds or other securities
amounted to Sl,478,000.
While having practically no loans
on farm properties. the national
banks in the Capital had real estate
loans on residential properties
amounting to S9591 900. and on other
properties in the amount of $4,-
$4,000. bringing the total for all
loans to S5l 100000.
How Funds Are Invested.
The report also shows how the
Washington banks have invested
their funds in Government obliga-
tions a total of s5,646,000 being in
Treasury notes, S8084,000 in bonds
maturing in five years or less, So
492,O00 in bonds maturing in to 10
years, S24,410,0O0 maturing in 10 to
20 years, making total of $49,-
225,000. These figures reveal very
clearly how much money the banks
are placing in long term securities.
The same banks have 1894 900
r. F. c. obligations. over $13000,000
in the Home Owners Loan Corp.
small amount in the Federal Farm
Mortgage Corp, and $2,221,0O0 in
other Government obligations and
agencies. Other bond, note and de-
benture investments include ST.
100000 in the Federal Land Banks,
$1,542, 900 in the railroads. 81 ,8280 900
in public utilities, and $1,018,000 in
industrial bonds, bringing this in
vestment total to S8l ,270,0O0.
The national banks reported de-
posts in postal savings amounted to
S20l 900. The number of savings
accounts in the nine banks totaled
111,430, the report stated.
Business Upturn Forecast.
In his monthly letter to the WASH
1ngton Association of Credit Men,
Henry H. Heimann, executive man
ager of the national association, says
there are a number of indications
that the recent decline in business
has about run its course. There is
a feeling of expectancy that the for
ward movement will be resumed
within the next 80 days even though
the gains may be moderate
He also predicts a considerable
gain in exports.
Exports in January were the larg-
est of any month in the past 10
years, he adds. Many expect this
favorable showing will continue over
the succeeding months. depending,
of course, on means of ocean trans
portation.
Citing domestic activity, he points
to February car and truck sales, and
to the improvement in construction
contracts in January. Electric
power output recently witnessed the
first weekly increase during the
present year.
ID. c. Store Collections Lag.
Collections in Washington de-
partment stores at the end of Feb
ruary were 281 per cent of bills
due at the beginning of the month,
the Federal Reserve Bank of Rich
mond reported today. This was
slightly below the average of 29.4
for the whole fifth district. Col
lections in Richmond reached 31.3
per cent and in Baltimore 30.6 per
cent.
Stocks of goods on hand at the
end of February were 89 per cent
larger than at the end of the same
month a year ago, and were 1873
per cent larger than at the end of
January this year, the cause for
this, no doubt, being goods On hand
for the Easter rush.
Sales in Washington department
stores in February were Ill per
cent ahead of the corresponding
month last year and in the first
two months of 1910 were go per
cent ahead of 1889, as already noted.
Insurance Tops Whole Nation.
The District of Columbia stands
above all the States in the Union
in per capita life insurance, ac-
COl QlIlS W lllc 1893 yearly IcNltW
just issued by the Life Insurance
Research Bureau at Hartford. The
per capita insurance in force in
Washington is placed at 81 063. COM
pared with a United States average
per capita of $500
New York ranks second with
$1,000: Delaware is third with 1896,
and Connecticut fourth with 1898.
Maryland's life insurance policies
average $689 per capita, Virginia's S
1898 and West Virginia's 1899 per
capita.
There are estimated to be 256575
life insurance policies held by WASH
ingtonians, totaling $685., SOL 900. the
report being based on the business
of SO per cent of the leading in
surance companies
Heard in Financial District.
Many officers from other banks
called at the Lincoln National to-