Evening star., 1940-03-06


Preston Delano. ing the wear and
total deposits of 1924 900 900 dis
closed an increase of $l7,OOO,OO0
Demand deposits of $213,0OO, 900 in
cluded $175,000000 deposits of indi-
Vlduals, partnerships and corpora
tions, an increase of $4,000 900, the
controller says.
Time deposits amounted to SILL
10000, all but $12,0O0,00O of which
were savings deposits. Surplus, prof
its and reserves accounted for $27,-
100000 of the capital funds, which
totaled $47,0OO,OOO..
Controller Delano reports that
gross earnings of the % active banks
in the District of Columbia in the
year ending June 80, 1899, amounted
to s11,738000, or S50O0O less than
in the previous year.
Net Earnings Up Sharply.
Interest and discounts on loans
accounted for $5,090,OOO and interest
and dividends on bonds, stocks and
other securities $3.611,OOO. Expenses
were $4,000 more than in the pre-
vious year, amounting to $8,496, 900.
Df this, $39l2,O0O were salaries,
wages and fees and S1,635 900 in
terest on deposits and borrowed
money.
Other earnings, the report reveals,
scored a gain of $50 per cent. In
the same period salaries, wages and
fees advanced lit per cent. Net
earnings amounted to $3,242 900,
which were increased by $1,98O,OO0
OF recoveries. This total of net
earnings and recoveries of $5,222 900
was a gain of 584 per cent, the con-
troller states.
Recoveries on loans were $2O9, 600,
recoveries on bonds, stocks and other
securities S5070O0 and profits on
securities sold $1,210OOO. Losses and
depreciation at $2,O99,O were s49,-
600 less than in the preceding year
Losses on loans were S258,000 and
losses on bonds, stocks and other
securities $964,00O.
Net additions to profits before
dividends were $3,123,O0O, or $497,-
600 more than in the previous year,
and 81 per cent of capital funds,
the statement discloses, the highly
favorable figures presented in de-
tail bearing out reports in the finan-
clal district last year of wide pros
perity in banking circles.
Building. Loan Assets Mount.
Controller Delano presents figures
showing that the Is building and
loan associations in the Nationa,
Capital also enjoyed notably pros
porous year.
Assets of the building and loan
associations operating in the Dis
trict under supervision of the con-
troller of the currency on June 81.
1889, amounted to $132,OO0,OOO, ali
increase Of S9,000,000 in the year.
Loans increased more than $8,0OO,-
600 to $l23 100000, and investments
of 81 100000 were about the same as
In the previous year.
Shares of stock outstanding in
creased more than $5,0000O to S117,-
100000, and surplus and profits of
$10,000000 showed an increase of
81 100000, the controller said.
There were 33,604 borrowing men,
bers on June 80, 1889, an increase OF
1868, and 102,74O borrowing
members, an increase of 4,297.
Many Active Credit Unions.
The report states that at the close
OF business on october 81, 1889,
there were Is active credit unions
operating in the District of Colum-
bla which were recommended for
approval by the controller and IL
censed by the District Commission
ers under the Credit Unions Act, ap-
proved June %, 1882.
On June 80, 1889, there were "a
active District of Columbia credit
unions, with loans of $1,2O5, 900, in
vestments of $174,000, and cash and
deposits in banks of 100000, which
increased respectively in the year
$308, 900, $4,000 and $4,000.
Fully paid and installment shares
were $1,364 ,000 an increase of $349,-
600 during the year, while undivided
profits and reserves increased by
$4,000 to $4,000.
These unions had 1925 borrow
Ing members. an increase of 1896,
and 1907 non borrowing members,
an increase of 1,455, on June 30,
1899.
Exchange Admits New Member.
Austin B. Rohrbaugh, partner in
the investment firm of Robinson,
Rohrbaugh & Lukens, Union Trust
Building, became member of the
Washington Stock Exchange today,
the second member to be admitted
so far this year.
Mr.. Rohrbaugh is widely known
IN financial circles At one time he
was manager of the bond depart
ment of the Washington Loan g.
Trust Co. and later was connected
with the investment department of
Auchincloss, Parker & Redpath.
He became partner with his pres
ent associates on October !, 1898.
He is native of Baltimore, start
ing his financial career with the
Mercantile Trust Co.
Heard in Financial District.
Thomas P. Morgan, jr., head OF
the Washington agency of the Mu-
tual Life Insurance Co. of New
York, reported today that new in
surance written by the company
in 1899 totaled $2O1 1872 ,621. At the
end of the year the company had
1,257,221 policies in force, represent
ing insurance Of $3,740, ,731, ,467. Pay
ments to policyholders and their
benef1ciaries in 1899 totaled $134,-
1886.
H. Norman Glasco, chairman o1
the auditors section of the District
Bankers Association, announced to.
day that 10 v. Morgan. member sole
District of Columbia Tax Appeals
will address the March dinner meet.
ing of the section tomorrow night
at the Lee House at o'clock. Hi:
subject will be ID. c. Income anc
Estate Taxes"
Capital Transit stock sold at 14M
on the Washington Exchange to-