Evening star., 1945-01-21
US. Security Holdings
OF D. {. Banks Rise
To S53O,678,OO0
BY EDWARD C. STONE.

fC2y ft0oA kSoA Y Ia u12C w OIL C11O4 dul
ing 1914, their aggregate invest
mems n Government securities on
December 80 reaching $530,678, 900
an increase of s114,419,O 900 in the
full year and s7O,8e8, 900 in the final
six months, according to a report
made yesterday by Controller of the
Currency Preston Delano.
Real estate loans were off about
100000 at the end of the year, but
other loans, totaling $l10, ,479 900,
were ahead of the $106, ,789 900 total
on December 80, 1913. Loans, how
ever, revealed a drop from the June
total of Sill, ,224, 900. Assets increased
substantially, the total of $9ll ,783,-
600, an an-time high and a gain of
$50, ,063 900, comparing with $751;
100000 at the beginning of the year
and $816, ,258,000 on June 80.
Demand deposits reached $685.
761,000, up s7O,233,00O, during the
year, and savings or time deposits
moved up to $166,946, 900, up $25,-
861,0 900. Government deposits, in
cluding War Bond accounts and
postal savings, totaled $107, AT 900
in December. against only $62 ,902, 900
a year earlier. In. conclusion. the
report disclosed strong position in
surplus, undivided profits and. re-
serves.
Honors for Chairman Baltz.
More than 500 members and guests
n4% h. &c
the District of Columbia Building
and Loan League next Saturday
evening at the Mayf1oWer Hotel, j.
HaWley Smith, chairman, announced
yesterday. High Treasury and other
Government officials, as well as
building and loan leaders, will be
introduced by Clarence E. Kefauver,
league president.
A program will feature the pres
entation of a citation from the
Treasury to the leagues War Bond
chairman, Edward C. Baltz, for
meritorious work in the successful
Sixth War Loan campaign. Wilmer
j. Waller, chairman of the District
War Finance Committee, will pre-
sent the award. A reception will
precede the banquet, the mo
speeches" rule to prevail.
Peoples to Buy Gibbs Stock.
Stockholders of Peoples Drug
Stores, Inc, have voted to buy 100,-
948 shares of the firms common
stock from the estate of Malcolm G..
Gibbs, founder of the company, at
$24 share.
Approval of the purchase, as out
lined in the proxy, involves a total
of $2,422,752. The directors have
arranged with group of Washing
ton banks to borrow $1,400,000 at
21a per cent annually. The balance
of $1,022, 752 will be taken from the
company'S current cash account.
The stock is to be held in the
treasury. The latest bid on the
Washington exchange is $50 share.
1t has been selling in New York
above $31.
Banks Most Active Year.
The year 1914 was the most active
In the history of the Washington
Loan & Trust Co., President Harry
G. Meem told stockholders in his
annual report. Deposits disclosed
al increase of $8,429,776. Loans at
the end Of the year showed a small
decrease. During 1914 the trust
company solo S15,794,880 in War
Ecnos to patrons.
Mr. Meem reported that trust de-
partment earnings surpassed all
previous years, with one exception.
Business in the foreign department
witnessed substantial revival, re-
mittanceS to France and Italy hav-
ing been resumed
Store Sales Ahead of 1914.
Department store sales in Wash
tngton for the week ended Saturday,
January 13, were 8 per cent above
the corresponding week a year ago
and 3 per cent above the preceding
week this year, the Federal Reserve
Bank of Richmond has announced.
Cumulative sales for the four
weeks ended January 13 were II per
cent ahead of the like period a year
ago. Trade was active in the whole
fifth district, being per cent ahead
of the same week last year, per
cent over the previous 1945 week and
up 13 per cent in the four-Week pc
riod.
Home Owners Slicing Debts.
Home owners are breaking all rec
ords in paying off their mortgages,
according to Henry P. Irr, Baltimore,
chairman of the Home Building and
Home Owning Committee of the
United States Savings and Loan
League. About $4215,0 900, 900 is ex-
pected to be sliced off mortgage in
debtedness this year, following pay
ment of $4,090,0 100000 in 1914.
About a third of this years pay
ments will go to building and loan
associations, Mr. Irr says. The ex-
pected payments will total about
three times the amount paid off in
1899.
New Telephone Marks Set.
The Chesapeake & Potomac Tele-
phone Co. reported yesterday that
there were $685. telephones in
service in December, against 1854 ,2O4
IN the same month year ago and
gain of $40 phones over November,
1914. This was the largest number
of phones in use in any month on
record.
At the same time, average daily
calls reached 1909, 1874, compared
with 1,529,357 in December a year
ago. This, too, was a new high rec
ord not only for December, but for
any other month.
Lee on Controllers Program.
Reynolds A. Lee, controller of
Julius Garf1nckel & Co., will address
District of Columbia Control, Con-
trollers' Institute of America. Tues
day evening at dinner meeting at
the Carlton Hotel. He will speak on
Payroll Procedures" and lead a
round-table discussion of the sub
ject.
Union Trust Co. stock sold on the
Washington exchange during the
week at 120, up 81a points from the
last 1914 sale. Lanston Monotype. at
go, was well above the last sale.
Washington Gas IS preferred set a
new l945 high and Woodward &
Lothrop common was 21s points
above the 1914 close.
Building and loan associations
here have been notified that the
American Savings e. Loan Institute
Chapter officers conference, set for