Evening star., 1941-01-08
Increase nCapita|
Savings Deposits
Reported by A. B. A.
Per Cupito Average
Of c. Advances
To $l78 Mark
By EDWARD c. STONE.

Bankers Association, the District of
Columbia had a total OF S118, 100000
In savings on June 20, 1910, a gain
of S7,802 900, or IL per cent, over
June, 1889. This was a greater per-
centage gain than was reported by
any of the Middle Atlantic States.
Per capita savings deposits in the
District of Columbia in the year
under review was S178, against an
average for the whole United States
of Sl96 per capita Maryland per
capita savings amounted to S241
and Virginias to S101.
The average for the Middle At
lantic States. with which the Dis
trict of Columbia is grouped, aver
aged 1895 in savings per capita.
New York State averaged S571 per
capita.
The gain in savings per inhabi-
tant in the District in 1910 over
1889 was per cent. The gain in
savings in 1910, compared With 90
years ago. was 1912 per cent. the
review said. In this period the
Maryland gain was 33 and the Vir-
ginia SIS per cent.
There were 283923 savings de-
positors in the District on June
%, 928292 in Maryland and 512,921
in Virginia. the summary showed
Savings Increase General.
The report stated that the savings
increase in 1910 was general and
the average of Sl96 per capita was
the largest since 1928. when it stood
at S237. The total of S25750,050,-
600 in 1910 was gain of $500 ,103,-
600 over the previous year.
The 45,791,265 accounts repre-
sented a considerably smaller num-
Der of depositors, as many persons
have spread their money around
and have several different pass
books, the review added.
State banks had a gain of "A per
cent in the period under review,
trust companies 36 per cent, ma
tional banks 26 per cent. Postal
Savings redeposited in banks are
reported at only S70,264 900, the
banks having to pay the Post Office
Department a higher rate than
most of them can earn.
The Middle Atlantic States COM
prise a financial empire. having 49.1 |
per cent of the individual deposits
and 1853 per cent of the total say
ings deposits in the banks of the
country, the summary states.
One in every three persons
throughout the country has a saw
ings account in a bank, the asso-
citation estimates.
Insurance Up 104 Per Cent.
Applications written in 1910 by
the Illinois Bankers Life Assurance
Co. reached an all-time high for
the institution, totaling S17,159,655,
according to announcement made
today by Hugh D. Hart. vice presi-
dent and director of agencies. This
is an increase of 1921 per cent over
1889 business, which aggregated
$4,000, 100.
Mr.. Hart made special mention
of the sales record set by the COM
pany's Washington ID. c. branch,
which. under the direction of Grant
G.. Hopkins, manager. produced
s5,195, ,033, or 30.07 per cent of the
years business.
The National Capital agency
showed a gain of 104.88 per cent
over its record for 1899, and its 1910
production also was greater than
for the 1938-39 total and for 1886,
1887 and 1888 combined.
Atlantic City Speakers.
Harry J. Gerrity of Washington,
counsel for the National Association
of Building Owners and Managers,
will address the Midle Atlantic Con-
ference of Building Owners and
Managers, which meets at Atlantic
City next week. His subject will be
Federal Legislation and Bureau
Rulings Affecting Buildings" James
Med. Shea of Washington, past
president of the National Apartment
Owners Association, will report on
the work of that organization at the
same conference.
John F. Jones, superintendent OF
agencies of the Reliance Life In
surance Co. of Pittsburgh, came to
Washington today and presented
District Manager Charles l. Hay
craft of the National Capital De-
partment gold watch for success
fully completing So weeks of con-
secutive production. Mr.. Haycraft
has been with the company since
January l, 1910.
Broker Houses Remain Open.
Inauguration day plans in the
financial district differ widely. All
the banks in the city will be closed
and all the building and loan asso-
Citations also expect to close, al
though the governors of the District
Building and Loan League have not
yet acted officially on the matter.
On the other hand, the New York
Stock Exchange will be open as usual
on that date and the Washington
offices will remain open in spite of
the inaugural ceremonies. This is
the same plan as was followed when
the date was March f. When the
exchange is open in New York the
Offices here are always on the job.
1t was said today that the local
investment houses which have New
York wire service will also keep their
doors open. The governors of the
Washington Stock Exchange will
announce their plans shortly.
S155,S69,55S in Bonds Voted.
During the year 1910 voters of the
country authorized total of S155,-
869558 of new bond issues, which
represents a considerable increase
over the 1889 total of S102 1855, ,8l9,
according to the Daily Bond Buyer
During the month of December the
voters of 64 communities in 18 States
authorized a total of S9,421 ,589, as
compared with only S4,959,972 in
December, 1889. Authorizations in
November, 1940 amounted to
$55,718,358.
Today's Trading on Exchange.
Washington Loan & Trust Co.
stock appeared in the trading on the
Washington Exchange today for the
first time in 1941, two shares NOV
ing at 238.