Evening star., 1944-06-27
Little Change Seen
In D. {. Deposits
As Call Nears
BY EDWARD C. STONE.

Anticipating the COnCrOllef Oh the
currency's usual call dated June 30
the end of the Governments fiscal
year. Washington bankers today
predicted little change in aggregate
deposits from the April 13 call. 1t Is
said that deposits here have fiuc-
tuated but little in the last three
months. They are more likely tt
show an increase than a decrease
one official said.
On April 13, last, deposits in the
Capital were at an all-time high
mark Of $737 1856 ,557, a jump of $82.-
755,983 since June 80 last year. Nc
April call was issued last year, but
between April 4, 1912, and April 13
1914, deposits in the Capital scared
1924, 407 ,268. In the first quarter OF
this year there was gain of more
than $27, ,000,0 900.
Some high Government officials
believe that bank deposits all over
the country have about reached
their peak. They expect no such
huge advances in the future as have
been noted in the past three years.
Other Government leaders in f.
nance. however, are equally sure
deposits will continue to mount as
long Is the war lasts and there are
bond drives every few months.
Capital bankers said today that
the present War Bond drive will
have little effect on aggregate de-
posits here. When bank patrons
give checks for bonds, the money is
placed in special account for later
withdrawal by the Treasury. Until
that time the money remains in the
banks total deposits.
Interest Payment Declared.
Directors of Washington Proper
ties, Inc, today declared interest for
the fiscal period ended April 80, at
the rate of 6.4S per cent on the
S8,803. 900 General Motors Income
Bonds outstanding. With this pay
ment, full cumulative interest will
have been paid through that date.
Interest checks will be mailed on
August by the Central Hanover
Bank & Trust Co., New York, to
bondholders of record July 20.
Several 10000 share sales featured
the lively opening of the New York
Stock Exchange. Brokerage houses
here were again jammed to the
doors, vividly recalling former bull
market days. Yesterday saw 1872
new highs.
Controllers Plan Election.
The annual meeting and election
Of officers of District of Columbia
Control, Controllers Institute of
America, will be held Thursday at
the Kenwood Country Club, starting
with gold tournament. Luncheon
will begin at 1890 while the dinner
is timed for 7 o'clock.
Ernest Stauffen, jr., chairman of
the Trust Committee of the Manu-
facturers' Trust Co., New York, has
been elected a director of the Union
OIL Co. OF California, the Wash
ington Office announces. He is on
the boards of Is other companies.
War Bond Drive Broadened.
Investment houses, banks and
brokerage houses are pressing sales
OF the az Treasury Bonds which
became available in the campaign
Yesterday, are especially adapted to
big corporations, estates, colleges,
labor and fraternal organizations.
Henry H. Heimann, manager of
the National Association of Credit
Men, sees danger in too extensive
postwar credit. ITO think that
every business or individual who at
tempts peacetime production is
credit worthy, is nonsense, and such
a policy would quickly undo a sound
reconstruction policy" he warns.