Evening Star Newspaper, October 17, 1926, Page 54

EARNINGS OF ALL MEMBER BANKS IN THE FEDERAL RESERVE SYSTEM i b Figures Have Irresistible Lure for Clerks of Some Institutions—Many Officials Are Collectors of Financial Curios. BY I. A. FLEMING. In nearly every bank there is some- one who loves to “‘play with figure: To the average man figures have 2 habit of becoming somewhat jum- bled, but to the bank clerk with his comptometer, his computator and his own expert training, accuracy is al- most assured. It is a pleasure to be able to offer to the local banks a most valuable table of actual bank statistics anent the working of the entire national bank system of the country shown by Federal reserve districts, Washington bankers should, -in their computations of the same items concerning their own institutions, show a much better percentage of earnings, etc., than the average of the banks of the Richmond district for the losses sustained by some of the banks in the Carolinas brought down the net profits figures, al- though the losses of the district as a whole were not large. Found Hard Going. The smallest net profits to earning assets shown by any of the 12 dis- tricts were nationally credited to the banks that made the la st losses, Minneapolis and Kans: both of these districts finding 3 1925, | covered in the subjoined attended with reproduced herewith are decidedly interesting showing as they do the percentage of annual in- come accredited to interest: the in- terest returned on money borrowed, salaries paid, taxes, other earnings, net losses, net profits,“net profits to arning assets and net;profits to cap- surplus and undivided profits. Gross earnings are the basis of all but the last three items covered. By comparing the returns of your own bank with these figures you can tell just what you are doing, whether aking the average gains, ng the same taxes, tec., ious districts. One or two local banks have made the compari- +on with satisfactory results. Per Cent ns( Gross Earnings (100%), All tem, for the Calendar Year Ended December 31, 1925. Interest Interest ‘on bor- on de- Towed Sal- Districts. Dosits. All member banks 33.6 . Cleveland . Richmond i, Atlanta . . Chicago, 12, Charlie Howe, treasurer American Security and Trust Co., is | a veritable keeper of antiquities. For | vears he has been gathering and collecting relics of former items in his collection rels the earlier days of banking in this country and especially in, around and'| near this eity. One of the curlos in the possession of Mr. Howe is a share of stock. in the Bank of Maryland, the first bank in the United States’south of. Phil- adelphia, a¢cording tgMr. Howe. Making it more fbteresting and more valuable is the fact that the certificate is made out to Charles Carroll of Carrollton, one of ‘the sign- ars of the Declaration of Independ- ance, and a man of great import in The certificate is not engraved, nor even printed, but is a written docu- ment, certifying to ' the fact that: “Charles Carroll of Carrollton is entitled to one share in the Bank of Maryland, transferable at the bank by himself or his attorney. “Witness, the seal of the president and directors of the said bank at Baltimore this 28th day of May, 1792 The certificate is numbered 766 and on the face thereof on the left side s indorsed “Purchase of Richd. Caton and by him conveyed to William Pat- terson, 7th of March, 1793." The great seal is impressed. Earl Amick, former auditor of the Riggs National Bank, now assistant cashier, is another collector. He has among other things a check signed by Maj. L'Enfant, the French engi- E who laid out the National Cap- tal. In a Class All Alone. William B. Hibbs stands today in a class all by himself, as the only member of the New York Stock Ex- <hange in Washington. Mr. Hibbs organized the firm of | . B. Hibbs & Co. way back in 1889 | has survived panics, money stringencios, the passing of the great men of Wall. Street, assassination of Presidents, earthquakes and all man- ner of upheavals that have shaken the very insides of the stock market and is today solid and financlally stronger than ever. Time was when Mr. Hibbs was a di- rector in many banks and torpora- tions as well as public utilities, but years ago he resigned from all and gives his attention to W. B. Hibbs & Co. He admits that he is fortunate in having as a junior partner one W. W. Spaid, who next June will become president of the District Bankers’ As- sociation, who has grown up with the | Member Banks of the Federal Reserve Net prot- Dive. Netprot- capital 10 cap. itato surp. & eur, Net Net earning undiv. undiv. sses. profits. assets. profits. profits. T TR 893 5.80 110 197 1. 7.43 27.1 1463 1087 317 g o i 8.46 6.83 10.29 8.84 8.45 4.05 478 6.56 8.42 28 oo e PERYYeSaeas SheeSSt manbbkoD 27. 15.: stock business and relieves his senior of all the burdens and details of busi- ness. E The sale of the New York Stock Exchange membership formerly own- ed by the late John L. Edwards left Mr. Hibbs as the only local member of that body. The New York Stock Exchange is not incorporated itself, nor will it al- low. its members doing business on the Exchange to incorporate. The answer is that it wishes to have back of its members’ obligations their - entire | assets without limitation, something | that is not offered by incorporate laws. | | COTTON IS EASIER ONHEAVY SELLING Southern and Wall Street Bear Trading Gives Staple Downward Trend. Br the Associated Press. | NEW YORK, October 16.—The easier tone which developed in the “ton market late vesterday was in | evidence ai day. January con-| tracts selling off to 13.00, or 42 points | et lower, under continued Southern | and Wall Street selling. Closing | prices were at the lowest of theda with the market barely steady t declines of 29 to 44 he opening was stead puints lower under overn orders. which included furthe nz by the South. Initis wer r v absorbed b end covering and trade and invest rent buvin but rallies of 10 @ 15 ypoints appeared to meet more sell-! fnz, particularly by brokers with Wall 8 attributed to the acts purchase nd probably was influenced me extent by weukn in th stock market. The Southern selling continued alco. while demand tapered off to some extent after thé early buying crders had been supplied. the fore ncon market becoming rather weak and unsettl December broke while | March sold off to 13.25 clines | of 40 nts on active positions | B bout 70 points from on the rally mor Reports of further showers in the | scompanied by com. | to grades, and addi- were reccived here, de cotton was be ty # costs of b for picking. se 4 evide had little immediate effect on senti ment, and some of the local t tock the reports of in 1 he 1o mean that the r of the past 2 out_increased cotton in the South. rted trade calling in Liverpool, but said market was lower under hedge selling and local or continental liquidation. Trade interests were credited with ¢ here on the late oon by slieved to be partly oreign aceount. | SUGAR FUTURES QUIET. | Undertone Firmer Owing to Cover- | ing in December Contracts. | NEW YORK, October 16 (®.—| AVith raw and refined sugar markets closed, there was only moderate trade | fn raw sugar futures today, with ap- proximate sales of 16,000 tons. The undertone wi to covering in December con be- lieved 1o be against sales of actuals, | abroad, and trade and commission house buying of later positions. | The market closed 2 to 3 points net higher. December closed 2.77; Jan- ry, 218, March, 2.72; May, 2.80; | By the Associated Press. | cast of snows in Canada and the | spot, weak: No. firmer, owing | T CRAIN GOES HIGHER. ON WEATHER NS Frost in Argentina Has Bull- ish Effect on Price of Wheat in Chicago. CHICAGO, October 16.—Buying based largely on Argentine reports of | frost gave the wheat market today | a decided upward trend. Closing quotations on wheat were firm, 1| cent to 1% cents net higher, with | corn %-cent to %-cent down, oats at | ade tolial advance, and pro- | ng from 20 cents decline | to 5 cents gain. | Notwithstanding rather general opinion that the frosts in Argentina | as vet done but little actual dam- { the wheat trade appeared un-| because of accompanying re- of unseasonable cold weather | the South American wheat | region. In this connection, too, notice was taken of an unofficial fore- | Dakotas the coming week, and of rains across the corn belt. The fore- st said” 2 that the frosts in pointed to an adverse Spring and to a short Summer as well rength of wheat values developed the face of sharp breaks in the ock market and likewise in cotton. A noticeable feature was that houses with Eastern connections led the pur- chasing movement in wheat, mean- while, however ew export demand North Am n wheat was re- nd deliveries of wheat interior points in the Canadian orthwest were the largest of the season. totaling about 4,500,000 bushels for 24 hours. The wheat crop in 32 of the northern hem- was estimated at 52,000,000 less than last vear, but above NEW YORK MARKETS. YORK, October 16 (#).- Western, 1.08% sy: malting, rk. Wheat. spot, 1 dark Northern ; ew Y . lake and rail, 1.6213; 'No. Hard Winter, f.o.b. New York, lake 1.5412 2 mixed Durum, 0. 1 Manitoba, . to arrive, 1.581% in bond. | Wheat futures elosed firm. Domestic, December, 1.4512; May, 1.49%; bonded, December, 1.46 < Com, s ., track New &ork, lake and rail, 92%; No. 3, vellow, do.. 90%. Oats, spot, steady; do. 2, while, 54. Lard, easy; Middle- west, al14.40. Other articles un- changed. COPPER PRODUCTION. NEW YORK, October 16 (#).—Con- sumption of copper in the United ’ during 1926, at the present| te of shipments, will exceed one and three-quarter billion pounds, said George A. Sloan, secretary of the Copper and Brass Research Associa- | ion, in addressing the National Asso- ciation of Purchasing Agents at Chi- cago. This is the greatest in the history of the industry, not exclud- ing the war years, .::[A\‘ 62 Phonograps! $47.50 Console and Upright Phonographs—some genuine Victrolas, No. XI, in golden oak, fumed oak, and weathered oak finishes—but the major- ity are the Duo-Console, a very good phonograph in ‘mahogany and walnut finishes. The cabinets of these latter are equipped-with:radio compartment—all you have to do is remove the panel, install your radio, and the tone chamber acts as a loud speaker. Formerly Priced $75 to 3150 Choice Monday —We will deliver any of these phonographs to your home for 30 days’ trial upon the purchase on your part of $5.25 worth of records. At the end of that time you begin paying $5.00 a month until machine is paid for. Kann’s—Fourth Floor. A Clearance of Floor Samples Globe Ranges —We have a limited quantity of these well known and very popular Gas Ranges, which have been used as floor samples, and for quick clearance we are offering them greatly under price. a) now $99.50 $79.50 $74.50 now .. e —Ranges originally $98.50 now o . $1.00 Down i Sl $62.50 u Convenient Payments ;Iv%vlngesoflghmllysssso $49.95 Kann’s—Third Floor. The Positive Agitation of The Greater Hoover Keeps Your Rugs Cleaner Than Ever —You cannot imagine until you have seen it demonstrated in your $3 and $3.50 Qualities at Saleof Silk Crepes and Satins-at Kann’s $2.69 Yd. —Here are six of the most popular of new silk fabrics from which to select your new Winter frocks; and a wide range of the season’s best colorings to choose:from—the new reds, greens, tans, browns and a host of other shades as well as plenty of navy and black. All 39 inches wide. —AllSilk Heavy Crepe Satin. —AILSilk Pershing Satin. —AllSilk Heavy Flat Crepe. Kann’s—Street Floor. Buy Linens Monday! Here Are the Reasons Why— —$3.75 Pure Linen Damask Hemstitched Table Sets, consisting of cloth size 55x68 and six $3 1 9 . napkins to match........ —$2.25 Pure Linen Table Damask, 70 inches wide a -good heavy weight and sturdy wearing quality in neat patterns. $1 95 . Special, yard at...... —Pure Linen Hand-Embroidered Towels, size 17x27 inches, made of a nice quality linen and embroidered in attractive designs. cialiieagh..... ... —Pure Linen Huck Towels, —Pure Linen Luncheon size 14x22 inches; very Cloths, size 44x44, good, closely woven huck with heavy-weight linen with pink or yellow stripe border blue stripe borders. An ex- and hemstitched cellent wearing et Soesaitersiy 2GR sl —Pure Linen Luncheon Sets, each .... cloth size 54x54 and_six —Cotton Dish Towels, hem- napkins to a set. Good p . e ) med ready for use. Made weight” Belgian linen with of a nice quality absorbent fancy stripe toweling with blue stripe L SN A Kann’s—Street Floor. —AlL-Silk Washable Satin Crepe. —AllLSilk Heavy Canton Crepe. —AllSilk Crepe de Chine. $10.00 All-Wool “Kenwosd B” Blankets $8.95 —72x84-inch Pure Virgin Wool Blan- kets, and a beautiful quality already shrunk. Colors rose, blue, and tan and bound with 3-inch colored sateen binding. $13.95 Virgin Wool Plaid Blankets, $11.95 Pr. —Made of ‘'superior quality wools, and already shrunk. Attractive large block plaids in rose, blue, tan, gold, orchid and gray colorings, with col- ored binding. Size 70x80. Part-Wool White Blankets $5.45 Pr. —66x80-inch Beautiful Quality White Blankets, with pink, blue or orchid col- ored borders and colored binding to match borders. $5.00 Cotton-Filled Comforts, Special, $3.95 —Very attractively Covered Com- forts with plain sateen borders, and filled with white cotton. Size 72x80. 25¢ Outing Flannel at 19¢ Yd. —36-inch Heavy Nap Outing Flannel, with pretty colored stripes on light grounds. Also plain white. Kann's—Street Floor. Sew on a “Free-W estinghouse” Electric Console Machine! Convenient Terms of $2 Down And Monthly Payments— own home what the New Hoover's new cleaning principle of “Positive Agitation” actually means. That is why we want to show you on your own rugs. In the same cleanin, time it is more than twice (131% as_efficient as former models in quick removal of dirt, grime and grit. Phone for proof. Complete with Dusting Tools $6.25 Down Balance in Convenient Payments Kann's—Third Floor. Wash and Dry Your Clothes In The New EASY Washer! Ask for a Demonstration —The New Easy Washer is the most amazing development ever made in washing machines. The small tub dries a whole batch of clothes—ten single sheets—in three minutes. Meanwhile the large tub washes a second batch. Twenty sheets handled at once—your wash- ing done in half the time, with half the work. No water to lift or carry; not a drop of water wasted. The Easy even empties itself when vou are through washing. Convenient Terms Kann's—Third Floor. —This arrangement makes it possible for every home to have one of these splen- did Sewing Machines and beautiful pieces of furniture. When in use it is one of the most efficient electric sewing ma- chines made. Guaranteed by the fac- tory and by Kann's and indorsed by Good Housekeeping Institute. When not in use it is an attractive and yseful con- sole table. And, in addition to the con- venient payment plan, we give you— A $25 Allowance For Your Old Machine This $95 Desk Model Electric Sewing Machine With Westinghouse Built-in Motor —A mighty low price to have to pay for such a splendid sewing machine and handsome piece of furniture. has the Westinghouse motor.built in the head, which in- sures a perfect sewing machine. Get one at this reduc- tion. $2 Down Convenient Payments Kann’s—Fourth Floor. 9 Penn. Ave. 8th & D Sts.