Evening star., 1945-07-18
Capital Banks Report
Rise in Time and
Demand Deposits
BY EDWARD C. STONE.

In the year enolng on June 81,
demand deposits, or checking ac-
counts, in 81 Washington banks
gained $100,988, 900, rising from
$457, ,135, 900 to $3.50, 1923, 900, Preston
Delano, controller of the currency,
reported today.
In the same period, time deposits,
including savings accounts, regis
tered a rise of $34, ,S05, 900, in an ad-
vance from $150,680,000 to $685.
485, 900. Total deposits amounted to
1914, OPT 900 on the June 80 call.
Total loans increased by $12,001, =
600 in the II months, reaching $124,-
225,000. They dropped off early in
the year but gained $l5,025,000 in
the second quarter. On June 80 the
Capitals banks held $6o3, ,722 900 in
United States Government obliga-
tions, a sharp increase of S143,942,- :
900 during the year.
Assets moved from S816 6,258, 900 to
S1,031 100000, while surplus, undi-
vided profits and reserves gained
substantially. Savings accounts num-
bered 300,5l9, the review said.
Transit As at New 1945 Peak.
Selling at LOG on the Washington
Stock Exchange, Capital Transit
first and refunding As have just
reached another all-time high mark
Opening the year around 104, they
have advanced steadily on a $780,
900 turnover, the bonds being by far
the most active of the senior issues
on the board. They are now quoted
at l05la bid, with 1861 asked.
New ALB Committees Named.
Thomas ]. Norris, president, Wash
ington Chapter, American Institute
of Banking, today announced ap-
pointment of five new committees: !:
Publicity-Mrs. Reva G. Sullivan, Dis
trict of Columbia Bankers Association,
curity; Kenneth o. Hulse, Hamilton Ma
tional
Public speaking = Miss Leona Draeger.
Porter, Risgs National; J. Earle McGeary.
Audit-H. Eldred Wilson, Lincoln Ma
City Bank; William L, Ashdown. Hamilton.
=, Athletic-Martin Gilbert, National Cap
nard Kane, American Security
Entertainment-Jack Cocker, Riggs Ma
ttionsl, chairman; Dorothy Lanham, Second
National; Martin Gilbert, National CAPITAL
Minnette Dodd. City Bank; Bernard Kane,
American Security.
Insurance Sales Up Sharply.
Details from the Hartford life in
surance sales report for June shows
$6,833 900 of new policies in the Cap
ital compared with S6,716,000 a year
ago, up l per cent. Sales in the half
year totaled $40, 900 against $34,-
$4,000, a notable gain of IA per
cent.
Maryland sales in June reached
S13,601 900, up 10 per cent from last
year, and $73,648,000 in the six
months, an increase of Z per
cent. The best gains in this
territory we're written in West Vir-
ginia, IL and 18 per cent, respec-
lively. Virginia June sales of S12, $780,
900 were up 10 per cent while the
STA, ,721 900 half-year total was IT
per cent ahead of last year.
Financial District Comment.
Formation of a national associa-
ton of electric light and power
companies is announced by an or
ganizing committee, A. C. Spur,
Fairmont, w. Va; James M Barry,
Birmingham; and K. M. Robinson,
Spokane Headquarters will be in
Washington, with Purcell L. Smith,
Chicago, first president.
Nelson B. O'Neal, vice president,
Riggs National Bank, is at Ocean
City, N. j., on vacation.
F. P. H. Siddons, vice president
and secretary, American Security &
Trust Co., is vacationing at Reho-
both Beach.