Evening star., 1944-09-08
Deposits and Assets
OF Insured Banks
Highest on Record
BY EDWARD c. STONE.

Deposits and assets Of 1929 In.
sured commercial banks were higher
on June 80 than on any other re.
port date In the history OF the Fed.
eral Deposit Insurance Corp, due
to the purchases of United States
Government obligations in support
OF the war effort, Chairman Leo r
Crowley announced today.
Total assets on June so amounted
to $122,647, ,000, 900, compared with
$102, 405, ,000, 900 on June 80 a year
ago, an increase Of 20 per cent, while
total deposits increased by $19,597 :
100000 to reach $l14,180, ,00O, 900 on
June 30, almost q II per cent gain
Demand deposits showed an in
crease for the year Of $3,94l 900, ,O00
and time deposits also increased.
Holdings Of United States obliga-
tions totaled $67, ,104, ,0OO, 900, an in
crease Of $l5,562, ,00O, 900 or 80 per
cent.
Loans and discounts amounted to
$50, ,732. .000, 900, up $3,340, ,000, 900, or
19 per cent, the expansion being
chiefly in loans to brokers and deal
ers in securities and other loans for
the purpose Of purchasing or carry
ing securities.
Capital accounts of the insured
banks increased by $4S1 900 900 dur
ing the year, rejecting increases In
common stock, surplus, undivided
profits and reserves, Mr.. Crowley
stated.
Airlines Prepare for Peace.
Merrill Lynch, Pierce, Fenner &
Beane Is distributing q most COM
prehensive review and outlook for
the Nations airlines after the war.
1t Is now anticipated that the Gov
ernment will have turned nearly 800
units back to the carriers for COM
mercial service use by the end of the
year and that the domestic industry
Will operate close to its total of $50
ships before 1945 Is half over.
The survey includes both the IA
vorable and unfavorable factors con-
corning airlines' securities, present.
ing some most interesting data about
individual companies.
Capital Bank 135 Years Old.
The National Bank of Washing
ton, j. Frank White, president, is
starting on its 136th year of service
this week. The bank was organized
on September A. 1909, making 1t one
OF the Oldest banks in the United
States. The banks records show
that some of the most DISTINGUISHED
men in the Nation were among the
early depositors.
The institution, which has always
been noted for its soundness and
conservatism. reported deposits at
the time Of the June 30 call of $23,-
33,89O.06.
Penn Mutual Leaders Meet.
Thomas R. Crowley and Joseph A.
Marr, general agents of the Penn
Mutual in Washington, were fea-
tured speakers today at a conference
of company representatives held at
Hotel Hershey, Hershey, Pa. Sam
uel j. Sugar and w. Ford Harvey of
the same agency were also on the
program, which was devoted to post
war insurance needs
Financial District Comment.
Edward L. Hillyer, vice president
of the Union Trust Co., is passing
vacation at Hershey, Pa.
John A. Reilly. president of the
Second National Bank, is back from
vacation at Cape May, N. j.
j. A. Meyer has been appointed
Atlantic district manager of the
Graybar Electric Co., the Washing
ton office being in his territory and
Philadelphia his headquarters. He's
been with the company 81 years.
Garf1nckel common, selling on the
Washington Stock Exchange at 20,
has reached a new 1914 high mark.