Evening star., 1942-04-07
Deposits on April 4, 1912


Natl. Bank OF Washington- 1479S.S57.9t
National Capital ---- 2,S92171 "a
National Metropolitan - 36,419,196.56
National Savings g. Trust 21.761,535.51
Riggs National ------- 167 .O9S,7O2 5t
Second National 11,9OO,9OS. .2s
Security Saw & Commercial 11,os0'6o3.o .os
Union Trust - ---- 15,996,3l2.72
Wash Loan q Trust 2s,S74734.1 ii
The controllers notice went tc
the SILT national banks. A similar
call was issued by the Federal Re-
serve Board to the 1902 State banks
which belong to the Federal Re-
serve system.
Other State banks we're not in
cluded, since the Federal Deposit
Insurance Corp. did not join in the
request for condition reports.
Army Camp Banks Planned.
Plans for more banking facilities
at the Army camps are advancing
rapidly in Congress, the Senate hav-
ing passed and sent to the House
legislation which would authorize
the controller of the currency to
approve establishing branch Offices
by national banks on military res
ervations, at Navy yards and sta
tions. The locations will have to
have approval of the Secretary OF
War or Navy.
The legislation calling for these
offices was introduced a long time
ago by Senator Prentiss Brown. The
measure is not branch banking
BILL" a subject over which there
has been so much bitter feeling. The
measure is merely meant to meet
emergency conditions, many officers
at Army and Navy posts deploring
the lack of banking facilities.
No hearings have been held on
the measure, but there is said to be
no opposition to it.
Bankers Watch Other Bills.
The Nations bankers are taking
a lot of interest in many other bills
before Congress. The second War
Powers Act and the r. F. c. war
risk insurance bill, which were fol-
lowed closely, are now law. The
Public Debt Act of 1912 also be-
came law on March %.
Senator Spencer introduced bill
relating to the publication of state
ments by branch banks which is
a companion bill to the House bill
introduced by Representative Gore.
The Spencer bill is now before the
Senate Banking and Currency Com
mittee.
The subcommittee of the Senate
Banking and Currency Committee
has before it the companion bill to
the Fulmer farm credit bill. The
legislation relating to financial
transactions with belligerents has
been passed and signed by the
President.
Bank Loans Made Easier.
The Presidents recent executive
order on Credit Facilitates for
Small Business is expected to en-
able the banks to engage much
more extensively in the financing
of war production. The order makes
possible Government guarantee of
loans by banks on commitments to
contractors, subcontractors or others
engaged in needed war production.
. The Spencer bill, already men
toned, would require any Federal
Deposit Insurance Corp. insured
bank. which operates branches out
side the city in which the main office
is located, to publish in each place
q statement of resources and la
bilities. While this bill Is of little
concern to Washington, bankers in
some sections of the country are
intensely interested in it. Passage
would mean a good deal of extra
work and expense.
Cheap Stocks Show Strength.
Low-priced stocks are out-per-
forming so-called rich mems stocks,
according to Lord, Albeit g. Co.,
which says:
AT the present time, while old
standbys and blue chips are faced
with substantial estate liquidation
and tax selling, large numbers Of
stocks selling under $40 share have
shown persistent strength. AS many
reasons could be advanced for this
as there are people who formulate
opinions, and it probably repre-
sents a combination of many fac
tors.
"One factor which must not be
observation-disclosures more of its
force will be felt in the next few
years that has been felt heretofore
is that the larger investors are
being impoverished and the smaller
investors are receiving more pur-
chasing power than ever before.
This suggests that when and as
new investment money comes to
the stock market it will come from
a great mass of the very smallest
(by old standards) type of investor,
who traditionally favor stock SELL
ing for 314 rather than 43A."
Financial District Comment.
Mergenthaler Linotype registered
q 35-share sale on the Washington
Stock Exchange today at SO. This
was gain of a full point since the
last previous transfer. The stock
closed with 80 bid and "a asked.
President Floyd E. DAVIS of the
Lincoln National Bank has returned
from q two weeks visit at Miami
Fla.