Evening star., 1941-11-05
Loans, Deposits Climb
In Fifth District,
Bank Review Shows
Capital Auto Sales
Lower in September
Than Lost Year
By EDWARD c. STONE.

100000. against only Sl3l ,96l 900 on
October l6 a year ago, and We're also
substantially higher than in Sep
tember of this year, the monthly
review of the Richmond Reserve
Bank states.
All other loans by the member
banks also revealed marked i'm
provement, amounting to S172 ,429.
600, As compared with Sl55 ,905 900
a year ago. Demand deposits con-
tinued to advance. S778. .49l 900, COM
pairing with $6l5, ,758,000 last year;
the same being true of time deposits,
S211,6560O0, comparing with $685.
$4,000.
In September banking activity in
Washington was far ahead of last
year, debts to individual accounts
amounting to S359,671 900 in COM
parison with 1858 $4,000 in Septem-
Der, 1910, a sharp increase of "a
per cent, the report says. In the
fifth district the gain was 80 per
cent.
d. c. Auto Sales Decline.
Quoting the r. L. Polk figures,
the review states that registrations
of new automobiles in Washington
in September numbered 753 cars
against l ,146 year ago, decrease
of "a per cent Sales in the nine
months. however, of 36,541 cars were
% per cent ahead of the same 1910
period. Turning to the fifth dis
trict, the report says:
Sales of new passenger automo-
biles declined sharply in September
from August, and were below sales
in September, 1910, the first de-
cline from the corresponding month
of the preceding year since Sep
tember last year. Sales were the
lowest for any month since Octo-
Der, 1888.
At the opening of September
dealers had incompete stocks OF
l94l model cars, and when 1942
models appeared the usual sea-
sonal advance in sales failed to ma
terialHe. Some dealers report that
so many buyers anticipated their
needs for new cars that the l942
models attracted relatively little at
tention and increased prices met
stiff resistance from the public.
Building permits issued in % fifth
district cities in September, l94l,
totaling sl3,876,928 showed increases
of II per cent over S12,5ll, ,l0l IN
August this year and IA per cent
over sl2,163,781 in September last
wear. Baltimore led in permit val
lation with s5O80,9O2. Washington
was second with S3942,9 and
Richmond third with 81 ,450,925.
Building Contracts Mount.
The value of contracts awarded
In the fifth district in September
AGGREGATED SIT, 7,738,000, an increase
of 127 per cent over September
1910. The detailed figures pub
lished for August show constructor
contracts awarded in Washington
were up 228 per cent over August
a wear ago totaling sl0,209,o 900. The
fifth district gain was 207 per cent
From August to September, en-
ployment records show the number
on pay rolls in the Capital IN
creased by IL per cent While the
amount of pay rolls climbed "a
per cent over last year in the like
period.
Department store sales IN the
whole district in September totaled
S17,355.089, a gain of l9 per cent
over the same month year ago;
furniture sales totaled s1,601 $50. up
9 per cent, and sales by wholesale
firms reached Sl9,77l 900, up 49 per
cent, the report discloses.
Counterfeiting on the Wane.
Julian T. Baber, United States
Secret Service, Treasury Depart
ment, addressed the Morris Plan
Bankers Convention at Sea Island
Yesterday on counterfeit money.
An experienced bank teller, he
said. spots instinctively the strange
or "unfriendly' face on counterfeit
bills as quickly as he Identifies the
face of a stranger before his window
He has sort of a sixth sense which
enables him to distinguish between
good and bad engraving and print
ing.
The public loss of S91 ,097 during
the fiscal year ended June 80 repre-
sented a decrease Of S54,547 under
the previous year. largely because OF
the successful educational program
on detecting counterfeiterS.
Leith's Death Shocks Friends.
Friends in the banking district
were deeply shocked by the sudder
death of T. Hunton Leith, vice presl-
dent and cashier of the Security
Savings Il Commercial Bank, yes
terday at Mount Alto Hospital
While he had been in poor health
the seriousness of his condition wa!
not realized by his associates.
Mr.. Leith was an example of {
bank runner climbing to vice pres
idency, pausing only long enough II
his banking career to make flint
war record. His work for the Amer
lean Institute of Banking as a mem
ber of the National Council, presi
dent of Washington Chapter and or
a host of important committees wa
outstanding His enthusiasm ant
fine judgment will be missed. Thu
banking fraternity will be well lep
resented at his burial in Arlington
National Cemetery.
To represent the District Bank
ers Association at the funeral rite
President T. Stanley Holland to-
day appointed the following bank
ers: Francis G.. Addison, jr., presi
dent, Security Savings e. Com.
mercial; John A. Reilly, president
Second National; Robert H. Lacey
cashier, Columbia National, ant
Thomas j. Groom. president, Banl
of Commerce & Savings.
Financial District Comment.
Washington Gas common le'
Washington Stock Exchange tradln
today, with a 300 share turnover, 10
shares moving at 1872 and 200 a
1914. Gas preferred sold at 104.
Firemen's Insurance CO. moved a
"a, Transit again sold at 1872 an
an &c o1 or,nnY, ar