Evening star., 1943-06-23
Bank Call Expected
To Reveal Jump in
Deposits Here
Increase Of as Much
As 8 or 10 Per Cent
Indicated by Survey
By EDWARD C. STONE.

washington banks will reveal an
other sharp upturn in deposits al
the end of the first half of 1943
perhaps an increase of as much as
8 or 10 per cent. according to a
limited survey made in the banking
district today. A new all-time high
mark is certain.
Bank officials are showing special
interest in deposits because of the
expected condition call from the
Controller of the Currency early in
July. The Controller has always
issued a bank call as of June 80. the
last day of the Governments fiscal
year.
A call often issued late in March
or early in April, covering the first
quarter. was omitted this year, pre-
sunably because of the National
War Savings Bond drive in which
bankers and all other financiers
took such an active part. That
means that the next call will cover
81 full months, period in which
very marked increases in bank de-
posists are known to have taken
place.
Total deposits in Washington's %
active banks on December 81, last
amounted to 1904 ,2S0,014.79, by far
the highest figure ever recorded. In
the last half of last year the Dis
trict's banks registered sensational
gain of SSS ,361 ,281 in deposits and in
the full year an upturn of l08.774,-
536. If the gain in the last half Of
1912 has been maintained in the
first half of this year, the total de-
post figure will be most impressive.
Bankers today were conservative
in their estimates of the probable
half years gains They said, how
ever, that the June Is tax payments
had made little difference in de-
posits. AS most of the War Savings
Bonds are paid for out of current
income. these huge purchases have
had little effect on deposits. In
several banks officials said deposits
right now are the highest they have
ever been.
Bank Opens Field Office.
The National Savings e. Trust Co.
has opened an Office at Boiling Field
Air Base to render banking service
to the officers and personnel sta
toned there, President Bruce Baird
announced today.
The office is in charge of Alexan-
der J. FAINT. assistant secretary, as
sisted by Robert L. Bromley. who has
also been connected with the main
Office for several years.
While all these Offices in military
establishments do their biggest busi-
ness in the cashing of pay checks,
they furnish other banking services
to patrons who are unable to reach
the uptown Offices during banking
hours.
Liberty Declares Dividend.
Directors of the Liberty National
Bank have declared the regular
semi annual dividend of per cent
on the outstanding stock. President
NJ F. Calnan announced today. The
disbursement will be made on June
80 to stockholders of record June %.
Frank r. Wilson, assistant to the
Secretary of Commerce, addressed
the war conference of the Special
Libraries Association in New York
Yesterday on New Uses of Business
Statistics" DR.. Harold G. Moulton,
president of Brookings Institution,
was on today's program.
The Federal Reserve Boards June
bulletin announced today that de-
partment store sales in the first five
months of this year were 13 per
cent better than year ago. In
general the largest increases occur
red in the Western and Southern
sections of the country, where pay
inceases have been sharper than
elsewhere.
Bank Students Name Officers.
Robert j. CrosSley, assistant
cashier of the First National Bank
Chicago, has been elected president
of the Glass of 1943, Graduate School
of Banking, at Rutgers, and L. C.
Owens. jr.. assistant vice president.
Bank of New York, secretary. On
Friday 1873 will graduate.
Thomas S. Sites, Dime Savings
Bank, Brooklyn, was elected chair
man of the Savings Group, made
up of investment bankers and in
Sestment men. George L. Emery,
Worcester Mass. was named secre-
tary. and Malcolm M. johnson, Gin
cinnati, treasurer.
Garfinckel Common Strong.
Three hundred shares of Garfinckel
common stock. in four transactions,
changed hands on the Washington
Stock Exchange today at III, near
the high for the year, and selling ex-
dividend The market closed with
/ bid and II asked Potomac Electric
Power 5l2 per cent preferred was
also strong today, moving at ll5%.
New York Stock Exchange board
rooms we're crowded again today,
following the ending of the coal
strike. Higher prices prevailed at
the opening. Yesterdays late rally
being carried further.
The Washington Loan & Trust Co
is distributing to patrons a colored
folder showing all the insignia of the
Army. Navy and Marine Corps The
identification of rank is most clearly