Evening star., 1941-10-08


July - 2,24O,90468 1,911.3456
August 2.315722O0 1990,0130t
September 2,3O3897.O0 1913, 1880
August sales showed an increase
of 16.4 per cent over August, 1910.
Bank Loans Up Sl6,497 900.
Loans and discounts of the ..
insured banks in the District o
Columbia on June 80, 1941, amounted
to S137 7.866000, an increase of SIG,
$4,000 over the June %, 1910. total
according to a survey made public
today by the Federal Deposit In
surance Corp.
Deposits in the same banks wert
listed as $3.50, ,704, 900, as compared
with S384,677 900 at the end of JUNE
year ago. Demand deposits
amounted to 1926, ,278,0OO and timt
deposits totaled S125. .426000. Re-
sources of the banks totaled S503,'
$4,000, in comparison with S436,,
$4,000 on June 90. 1910.
Direct and guaranteed obligations
of the United States Government
listed by the District of Columbis
banks amounted to $121 ,098,000 or
June 30. 1941. Other securities to-
tailed s23 ,447000, the report said.
New National Records.
Loans and discounts of the 1912:
insured commercial banks through
out the country totaled S19913 000.-
600, an increase of S2,899 900 900, ol
II per cent, over the amount re-
ported June 90, 1910. Deposits in
creased from the $50 425 100000 re-
ported the previous year to $685.
61700O,O00, the highest figure since
Inauguration of deposit insurance.
Resources of the 3l2 insured COM
mercial banks in Virginia totaleC
so58816,0O0 on June 80, 1941 De-
posts were listed as S762 ,051 900
Demand deposits amounted to S455,-
$4,000 and time deposits totalec
S306,2230 900 Loans and discounts
of the reporting banks amounted t
S350,606,000. an increase of S35, SCI, )
600 over the June 90, 1910, total.
Resources of the 172 insured com
mercial banks in Maryland totalet
1888 $40 900 on June 80, 1941. De
posts we're listed as 66,936, 600
Demand deposits amounted to S551,,
$4,000 and time deposits totalec
s215,452,000. Loans and discounts O.
the reporting banks amounted Il
S195 5.218.000. an increase of $18,140,-
600 over the June %, 1910, total.
Credit Men Study Priorities.
National defense priorities anc
their effects on business and credit:
were given special attention at {
meeting of the Washington ASSoCia-
ton of Credit Men at the AmbaSsa-
dor Hotel last night. The recent o
P. M. statement in regard to pri-
vately financed defense housing wa
discussed freely
William A. Bowman, president o.
the association, and credit manager
of the E. G. Schafer Co., presided
Representatives Of many prominent
business concerns took an active
part in an open forum. Among the
speakers were
L. L. Iddings, Woodbridge Clay
Products Co.; r M. Harper. Smoot
Sand & Gravel Corp; L. NJ. Hewlett
Griffith th-ConSumers Co; H. L. Beach
General Electric Supply Co.; A. L
Mallonee. w. R. Winslow Co.; H. A
Davis, Washington Concrete Prod.
ucts Corp; L. P. West and Mis-
Elizabeth Harrell. West Brother
Brick Co.: B. B. Vaden, Thompson
Dairy; F. c. Ferber and H. R. Oliver
Southern Wholesalers: L. z. Graub
ner, Detroit Steel Products Co.
George B. Hoey and Mrs. w. r
Gehman. Lyon, Conklin Co.; Cor
don Fletcher, Stones Mercantil,
Agency; Mrs. E. j. Hess, E. B
Adams Co; w. c. Vernon, A. P
Woodson Co.; Paul O'Bryan, Dun
Bradstreet, Inc; j. H. Geiger, Mu
tual Insurance Agency; E. S. Row
zee, Edmonds Art Stone Co; N.
Estes. John P. Agnew Co, and M c
Thompson, Fries, Beall & Sharp &C
Lively Trading on Exchange.
In the liveliest trading on tn
Washington Stock Exchange thi
year. prices were firm. Activity il
National Savings e. Trust Co. stoc
again leo Ifle market To-Day.
The bank stock opened with 10
shares selling at 205, unchange
from yesterdays close. Two sale
involving 40 shares then took plac
at 2051s. The market closed wit
IS more moving at 205. The fins
bid was 204 with 2l5 asked.
Washington Gas Light preferre
Washington Railway 81 Electric pre-
ferred came out at 1T, and Capita
Transit commended 1872.
The days only bond sale was i
Washington Gas Light SIS, 1866
which changed hands at 1881.
Fifteen shares of American Secur
ity Sy Trust stock sold at 223 eli
ll0 shares of Mergenthaler LinotVp
at 2612.
Expansion Plan Approved.
New York Stock Exchange mem
d Der firms in Washington were muc
pleased today with the report ths
the Association of Stock EXchang
Firms had voted to change the con
stitution and carry out the expar
sion plans suggested by the ne
Stock Exchange president, En-
Schram. More advertising and otht
greatly enlarged activities are ir
cluded in the program.
The Securities and Exchange Con
mission is in favor of investment
by insurance companies in commo
stocks. According to the Wall Stree
journal this may prove very in
portant to the insurance companit
and to the country's entire financit
machinery as well, through volun
increases. The authority for II
new investment plan has to con
from the States, but the S. z. c. a
titude is most vital