Evening Star Newspaper, October 19, 1927, Page 13

FINANCIAL COLUNBIA SHND G0 MARKET LEADER Preferred Issue Scores New Top Price—Federal-Ameri- can Co. Gains. BY EDWARD C. STONE. Columbia Sand & Gravel preferred scored another new high on the Wash- ington Stock Exchange today, reach- ing 103% and clesing at 103. Poto- fac Electric Power 6 per cent pre- ferred also It a new peak when it ®old at 112. Federal-American Co. common sold at 41, which is also the best price for this issue which has been attained since it was listed, the turnover being 70 shares. The Sand & Gravel stock led the market in volume, 90 shares changing hands. Potomac Electric 53 per cent stock was quiet today, selling at 105% and %, In a sale of 50 shares of Washington Railway & Electric pre- ferred the price was still 9915, a half- point from par. Capital Traction was off a point from yosterday's close, two 10-share lots moving at 111. Unfon Trust bank stock sold at 302 for only two shares. National Mortgage & Investment pre- ferred came out at Ti. In the bond division Washington Gas 5s brought 10212 and a baby Gas 6s, Series A, 102%. Metropolitan Elects Director. At a meeting of the board of direc- ters of the National Metropolitan Bank held teday R. M. Kauffmann was elected to the directorate, ac- sording to announcement by the pres- ident, George W. White. Mr. Kauffmann was chosen to fill | the vacancy on the board caused by the recent death of his father, Ru- dolph Kauffmann, who for a long period of years was a most valued member of the Metropolitan’s direc- torate, It is interesting to note in con- mection with today’s election that the new director’s grandfather also served the same bank most efficiently for several years. Bankers Hold Fall Meeting. Chairmen of tne various commit- tees of the District Bankers' Associ- ation reported on their present activ- itles and what they hope to accom- plish during the remainder of the year, at the first Fall meeting yester- day afternoon at headquarter.. resident W. W. Spaid was in the chair and there was a large attend- ance at the session, some 25 banks being represented. Resolutions pre- sented by Howard Moran paying tribute to the memory of Samuel G. Eberly, vice president and director new quarters today, many congratula- tions being extended on the new sur- rouhdings. Pacific Coast Tour Planned. President Robert N. Harper of the District National Bank leaves here tomorrow to attend the A. B. A. na- tional convention in Houston, Tex. At the conclusion of these sessions he will go on West and tour the Pacific Coast. The bank president expects to be away from Washington for a month and says it will be the longest vacation he has had in 14 year: Fifth District Debits Decline. The Fifth district debits week of October 12 were $334.754,- 000, as compared with $370,001,000 in the preceding weck and $300,838,. 000" in the week ended October 1. 1926, Debits to individual accounts as re- ported to the Iederal Reserve Board by banks in leading cities for the week ending October 12, 19:7, aggre- gated $11.975,000,000, or 27.6 per cent below the total of $16,537,000,000 re- ported for the preceding week. The current week included but five busi- ness days in some of the larger cen. ters on account of the holiday on October 12. Other Local Financial Notes. E. E. Mountjoy, deputy manager of the American Bankers' Association in Washington, leaves here this evening for the Houston convention. He will pend a day in N ville, join a spe- fal train from Chicago, visit New Orleans and arrive in the Texas city Sunday. The Riggs National Bank has issued an attractive leaflet since the October 10 call, giving a condensed report of the bank’s condition and calling spe- clal attention to the location of the four branch oflices. are given as $47,986,600. Daniel R. C ger, former gov- ernor of the Federal Reserve Board, gave a talk over the radio last night from Station WGBS, New York. His subject was “The Value of the Fed- eral Reserve Bank to Small Business.” The Interstate Commerce Comini: slon has autho: d Tennessee Central ue $410,000 of firs cent gold bonds and to sell them at not less than 961 per cent of par. in DIVIDENDS. Company. Am_ Radiator Do pt . -Blize-Cln A Brnsw Blims Bros. 1. K Do 7% pe': .. $1.78 Dallas Pr & L pf.1% 5 Hamilton Bryn, Sh.2 25000 = B st pf . Louis Oil R nf.$1.82% Melville Sh' Cor.. .7 Do nt ] Munsinzwear. "I North Cent Tx O ©0%Co0) Total resources | THE EVENING BIG STEEL MERGER TRADE STABILIZER Larger Unions of Independent Producers Seen in Re- cent Move. BY J. C. ROYLE. Special Dispatch to The Star NEW YORK, October 19.—The mer- ger of six great northern Ohio inde- pendent steel companies, negotiations for which have just been completed, will have a wide influence not only on the cost of producing and marketing certain varieties of steel products, but on the processes and shop practices of the industry itself. It also will have a broad bearing on the automobile companies, since the motor car manu- facturers are among the chief cus- tomers of these plants. The merger will bring together six companies with assets approximating £20,000,000, including Thomas Sheet Steel, IFalcon Steel, Waddell Steel. all of Niles, Ohlo; the Mansfield Sheet & Tin Plate Co. of Mansfield, the Ash- tabula Sheet Steel Co. of Ashtabula and .the Empire Steel Co. of Cleve- land. The new combination will con- trol a total of 61 sheet rolling mills with'a capacity of about 500,000 tons of rolled sheets yearly. Saving of $4 a Ton. The men behind the merger declare that the move will mean a saving of imately $4 a ton in production Reserve Disi POK 8‘ CONDITION DEPARTMENTAL BANK Charter No. RE raits soid with indorse f this bank d, 18 : 840.35 nment securitied Gover owned: b All other United States Government securities (in- cluding premiums. i1 any) . Other bonds. ¥ocks, securi- ... Of Bapiong Kouse, $11 . Bayiing nouse. Tanifture dnd ix 21.450.00 98.750.00 3109 . 119.148.82 Caxh In vault' ‘an diie from nation; Total of jtem 10 . b Mistellaneous ¢ Other assets, it an; Total 175.82 16.90 3053, LIABILT. . Capital stock baid 2 Udivided wict . > a2 Undivide 3 Iy $23.700.76 ° e % 1720156 T il 6.608.20 .$106.040.00 | » TTR5566.34 and marketing costs. This, they de- clare, will mean the difference be- tween a strong, steady margin of profit and a precarious existance de- pending on the fluctuations of the au- tomobile and canning trades. The sheet makers for some- years have been in a constant state of tur- moil, ‘since there were a large num- ber of plants devoted to this type of production and new and modern methods had increased plant capacity much more rapidly than consumption demand had broadened. The present merger is calculated to lead to mors stability in the sheet market and to eliminate some of the cut-throat com- petition which at times has cut prices to cost or beneath it. The present merger is regarded as merely the first step in further inde- pendent steel company consolidations in the Midwest. Once or twice in the last year other bif independents have been” brought almost to the brink of mergers. These steps have been urged particularly by Cyrus S. Eaton, Cleveland banker and steel man, and his associates, The negotlations are have included Trumbull Steel, A. M. Byers Co., Otis Steel and a very con- siderable number of the sheet produc- ers of the Mahoning Valley. The plans fell through, it is understood, beca the parties to the project could not REPORT OF CONDITION WASHINGTON MECHANICS' SAVINGS BANK At Washineton, in the District of Columbia. 4 the close of business on October 10. 1027: reported to w indor. this' bank . 2. Overdrafts. unséc . U. 8. Government s owned Otlier bonds. Ts1.727.070 08 X 1034 43.432.80 thon, i .078.60 . Buling hotise i Turniture - and S0 114.067.31 I144574 832.50 . Real estate owned. ‘other than banking hoiise. . . . Cash in vault and amount dus from nati . Amount due “from Sta hanks. bankera. and tri companies 1 the United States (other than in- cluded tn Item 10). ... . Checks on other bani in same City or town as re- porting bank otal “of Ttems nd 153, $316.751.18 Check draits banks (including eral Reserve Bank) outside of city or of reporting ... .$0.600.23 23.600.58 14.312.10 $50.000.00 50.000.00 $39.741.; 22.87 brofts. . . o Lo i) Xbentes vaid e IB.718.50 .40 267.60 Ampount due to national T A . Certified checks ottstanding Demand deposits (other than. bank deposits) wubject o rererve payvable b put on the various plants. The pres- ent merger may be the nucleus about which a still larger grouping will be formed. Davey Mentioned as Head. ‘W. H. Davey, president of the Mans- field Sheet and Tin Plate Co., has been mentioned as president of the new company to grow out of the present deal, with J. D. Waddell, head of Wad- dell Steel, as vice president, but noth- ing formal has been done about officers as yet. T)ha Ford influence has not been en- tirely absent in the conditions which have led up to the present merger. The uncertainty which has been felt concerning the effect of the new Ford campaign on other automobile manu- factuerers has found immediate reflec- tion in a slackening of output in the northern Ohio sheet mills. Ford buys a good p-rt of his sheet requirements in Ohio and his plants are not yet into quantity prodm"'tlon. If his new car does not “go over,” the effect will be felt at the steel plants. The overproduction of ol ir the Se inole fleld and the slackeueing of ac- tivities in other sections have also Charter No. 5036. e CONSOLIDATED REPORT OF CONDITION STAR, WASHINGTON, D. C, WEDNESDAY, OCTOBER 19, 1927. struck the sheet strip d plate makers. All these factors are re garded as favorable to consolidations which will hold down excess produc tion and simplity sales. There still will be plenty of competition left, both from the leading producer and from powerful independents outside the charmed circle. = VAo MORE COAL MOVING. NEW YORK, October 19 (P).—The Chicago, Burlington & Quincy, heav- lest coal carrier in Illinois, hauled 7,708 cars of coal in the first 14 days this month, a dally average of 550 cars, and it Is hoped to get up to 1,000 cars a day, C. E. Spens, vice president, reports. “Thirty per cent of the load- ings of this company is in coal, so it may be appreciated what we have lost in six months of the strike,” he said. With heavier movement of wheat fram Nebraska by December 1, and also heavier movement of corn, we will show improvement at the end of the ‘year. I do not belleve more than 50 per cent of our Nebraska wheat crop has moved.” Reserve District No. 5. RIGGS NATIONAL BANK as! n the District of Columbia, at the close of business on AL ViERCR October 10, 1927. RESOURCES. ’ = i . a Loans and discounts, including rediscounts, acceptances of do(’hor banks and foreign bills of exchange or drafts sold with indorsement of this bank. . Overdrafts, secured, $1,376,97 433.3; . Lawfu 10 .. . 2. Exchanges for clearing house unsecured, $6. . U. 8. Government securlu!e: 0\\‘!:&!]4 md Other bonds, stocks, securities, etc., ow: . hy Banking houses, $1,744,651.04; furniture and fixtures, §48 building account, $17,083.98 3 reserve with Federal Reserve Bank. " Items with Federal Reserve Bank in process of collection . Cash in vault and amount due from natlonal banks. . " Amount due from State banks, bankers and trust companies in the United States (other than included in items 8, 9 and ... .$25,120,023.40 . 7,513.41 8,008,312.65 4,560,990.00 2,244,168.40 3,021,418.39 958,178.35 1,941,611.15 603,858.96 934,720.63 . Checks on other banks in the same city or town as reporting bank (other than ftem 12 Total of items 9, 10, 11, 12 . aChecks and drafts on Rescrve Bank) loc reporting bank . . b Miscellaneous cash ite Janks ( . Other assets, it any Total . Capital stock paid In. . Surplus fund . a Undivided profits b Reserved for contingencles preciation c Less current expenses paid 22, Reserved for taxes, interest, ete., accrued ederal Reserve Bank (de . Amount due to national banks................ . a Amount_due to State banks, bankers and trust compani . Amount due to in the United States............ b Amount due to banks in foreign countries. . . Certified checks outstanding. .. . Cashier's checks outstanding. cesen 136,407.34 Ve $4.674,776.43 % Federal ted outside of city or town of ...$58,095.88 8,235.44 —_— 67,231.32 . 382,204.22 reverenere. $47,986,638.22 . $2,500,000.00 . 1,750,000.00 ‘3165, 220,366.26 .35 $604,484.61 .. 6,852.74 ——— 687,031.87 45,257.02 317.295.36 .$4,199,242.42 70,928.98 4,270,171.40 25,754.48 83,413.46 | 5 1,961,299.18 |, FINANCIAL. GILLETTE RAZOR SALES. NEW YORK, October 19 (#).— European sales of Gillette Safety Razor Co., show a large increase and both domestic and export business this year, will be largest in its history, K. C. Gillette, head of the company, saild on his return from the year's sojourn in Europe. The company would earn close to $7 a share in 1927, he asserted. o PACKARD OUTPUT GAINS. NEW YORK, October 19 (#).— Packard Motor Car Co. produced 4,350 cars in September, against 3,954 in August and 3,380 in September, 1926. REPORT OF“;l'l‘llhE! CONDITION Continental Trust Co. At Washington. in the District of Columbia. #4,4ne close of business on October 10. RESOURCES. 1 aLoans and discounts. cluding isco! of this ban $2.000.782 22 . Overdrafts. unseciired. 510.86 U. S." Government securi- tles owned: BAIl other United States Government_securi ties (including premuumes. 1t any) . . Other bond curities. ete. . a Customers’ count " of £0.100.00 1.040:017.36 30.980.73 1876391 300.154.77 484.504. unt due from national banks - Amount due from te banks bankers - and trust _companies in ‘the United States (other inan” inclided_{n 8! o ™ gn1s 15001 . Other assets. if any...... Total .. 30.563.54 12.775.19 $3.064.218.35 $1.000.000.00 100.000.00 LIABILITI . Capital stock paid I rolug fund "5 1vided ofita $81.220.53 cifrent ses paid. 1.816.77 tor inter- ac 79.412.76 67.465.40 8.675.04 bank o rust compan Unitea “‘Siaics . Certified che: s, 182.103.07 Cashier's checka » 8.98 58.507.99 7 .$223.403.98 deosits nk to_reserve (de- g P2VaDI0 within al deposit Lcicac ot ir DNy . Certificates ot denosit’ dia in lesy than 30 days (other than fo y borrowed) ... - Deponts_ requiring ut less than 40 dayi . Dividends unpaid. . 1.036.108.79 19.188.11 70.300.93 w22 35 OF_CONDITION REPORT oF East Washington S.v-fl lnkm At Washington, in the District of Colum ot the closs of bustness on October 10. 1027 RESOURCES. aloans .......... - Other bonds. stocks. securi- ties, etc.. ow Banking house, $21. forni ture and Cash' in_vauit and’amount due from II'IIIOIIII ‘banks or $067.497.73 155.080.00 XIS 25.000.00 75.039.93 0.648.35 . $1.230.108.01 IABILITIES. Capital stock baid I+ -+ . $100.000.00 100.000.00 L. .. .$41.518.08 © Less_eurrent expenses paid. 22.020.33 Other time deposit %3 Total of time depos - fi-(t to reserve. {tem 7. ....$1.010,670.36 y Total... . .......81.230.166.01 District of Colnmbia u.: 1 CHARLES A. McCARTHY. treasurer of the above-named bank. do solemnly swear that the ab ve statement is true to the best of my knowiodge and belfef, CHARLES A" McCARTHY. Treasurer. Sworn and_subscribed to before me this 18th day of October, 1927 (Seal.) CLARENCE F. DONOHOE. Notary Public, D. C. 10.480.05 1.010.679.36 Correct—Attest REPORT OF CONDITION Seventh Street Savings Bank At Washineton, in the District of Columbi ¢ tho closs Gf bisiness on GCLOBoF 10, TOIT: own: bAIl other United States overnment securitics including premium; anv) .. 5 i Other ~ bond 220.413.83 anking use, $ 042.61; furniture fixtiires. $6.806 . Cash in vault and due " " from inks ... . Amount due ’from’ ‘State banks bankers and trust the United ompanies in States” (other "than {n- Q... clearing PETTTRY 50.638.61 120.712.20 cluded {n ite Exchankes for Toral of " iteis’ 16, 1] Cand U3 . "$175.487.64 . b Miscellaneous cash items 71124 Total. $1,036.740.64 fund 8.424.28 40.331.08 . Capital $100,000.00 100/000.00 b .$68.446.75 Daid 25.562.14 ot "l 7 . RR4.41 2558 1.777.68 4. Other demand depost Total of " damand i TREASURY CERTIFICATES. (Reported bvJ & W Seligman & Co.) Llepositey Total of items 24, 25, 26, 27 and 2 -$6,657 vidual Demand deposits (other than bank deposits) subject to reserve (deposits payable within 30 days): % . Individual deposits subject to check . Certificates of deposit due In less than 30 days (other than for money borrowed)... . Dividends unpaid . Other demand deposits...... . Total of demand deposits (ot bject to reserve, items 29, 30, 33 and 34. $25,116,781.11 Time deposits subject to reserve (payable after 30 days, or subject to 30 days or mere notice, and postal savings): . Savings deposits (including time certificates of deposit other than for money borrowed). . Postal savings deposits. ... e . Total of time deposits subject to reserve, items 35 and 8 . ..:.$8,900,414.06 . United lates deposits (other than postal savings), including War Loan deposit account and deposits of United States disbursing officers ! 42, Agreements to repurchase U. 8. G ties eold cessens . Letters of credit and travelers’ ch standin, ceerans » Liabilities other than of the National Capital Bank, whose interest, 60.000.00 death occurred a short time ago, were adopted. . Reserved for taxes days) cte., acerued 8.160.78 denosits Certitied 178.00 109328 Bakpee Tndi! sub- ehecks funding 3 " Lashier » checks vutstanuing The remaining business was of a | /s pue a as m"rm Total of items %7 and routine nature. Practically all the | 3 o2 committee chairmen were present. Bank President Notes Birthday. e e S act that yesterday was the birth- il day of Edward J. Stellwagen, presi-| SECOND NATIONAL dent of the Union Trust Co. Through- out the day he received many hearty BANK o A ety congratulations. The veteran banker At Washineton, in_the District of Columbi (uther than ~vank de- is in excellent health and s watching | ** J*PMI0% 10, the District of, Columbin. Posiss): fublegt o, reserve with keen interest the daily progress| 1097 2 7 i ST PR made on the big addition to the trust ubject 1o company which is now being erected o 30 on H street adjoining the west side Javs' of mare notice, and of the present bank. Dostal savings) . Mr. Stellwagen has been at the hedd D an o ooy of the Union Trust Co, since 1900. He ¢ than'dor” money” bor- s a rector in the npital ‘raction owe Siogs " Co.. the Raleigh Hotel Co. and the 87. QUie fioe devosl Capital Park Hotel Corporation. He Jev is also a member of several clubs, al- though he admits frankly that he is more fond of his home than any other place in the world. Business Men Discard Old Ideas. A long succession of discarded proc- esses, antiquated ideas and obsolete policles are monuments to the prog- ress of American business since 1921, according to Dr. Julius Klein, director of the Bureau of Foreign and Do- mestic Commerce. Speaking in Chicago last night, Dr. Klein sald there can be no doubt that our recent commercial progress and present momentum have n due largely to the disposal of the incum- brances which were discarded along the way as business has climbed out of the post-war pit. Among these abandoned “antiques, he pointed to the old devotion to e: cessive business secrecy, the fear of losing some small temporary advan- tage by adopting the ‘“‘new-fangled notions” of simplified practice, the suspicion that statistics and efficlency programs are academic and the con- tempt for associated effort. Moran Opens New Offices. C. E. Moran & Co. has moved from its offices in the Southern Building to 1716 H street to what will be known as the Moran Building. This building has been extensively remodelled and these dealers in investment securities will- occupy the entire ground floor. The fifth district debits in the ect 10 "re 30. 32 a7 85,733 85 1b 792.322.42 oy 24,391,632.20 37,841.85 187,705.00 499,602.06 denostt’ due 10 less than 30 days aft- (other than for money day r more . ana " postal “(payable or more notice, and postal savings) : . Savings deposits (including time " certifi a0 e posit ‘Giher "t h Tioney * bofrowed) v, 1T ther Gime’ deposits reserve witnin 30 days) : . Individual deposits ‘subject . Certificates of denosii ‘due in in less than 30 days (other than for money vorrowed) . Diyidends unpaid . . gy demand depoidts. Tota Charter No. 2032 Reserve District No. 5 vings) : REPORT OF THE CONDITION Savines devosits (including time certificates of de- posit other than for money borrowed ) 5 37. Other time deposits. . ‘otal e depusite sublect to reserve. items 35 and 37.. $1.256.085.14 Acceptances ' executed by banks for account 8,838,602.73 12,801, 641 & 61,811.33 Disteict, of Cotiry &f WasinL ot of Gatimiia. Gity’d LEIh 8k O GROUM Cashier of the, aBove: mertfonsd banic o solersnly, svagr ihat the " Kiatement s (i to" the EhOwiedss ana beltef. THGs ') GROO e ‘ashier. (7fubseribed and awory to before mo tiila Ay 0f October, 192 (Seal.) UBERT N ROBERTS. . P A corary Bublle. Correct—Attast GEORI W ks DWARD F. PICKEOR : r re. rP"'"“ 5. et 2.101.42 Po5ie1335 olumbia, es.: borrowed) ... 888.58581 me 3 ort s 2 gaus! 35..3888.585. 81 EJ] T £ Washingion. e i 3 o . do solemnly » nt and Treasurer. | The “above statement s ‘iras 1o the: best of orn {0 befors e this | my Knowledse and. heliat: 3. D. HOWARD. Cashier Subser] d sworn to before me this 170 ey ot 3 ey of Scones Ty HARLAN, Notary Public. AUFMAN, Directors. centances o ar banks and foreien hills of exchange or drafts 201d " wi th _indorsement ank. ... ... ..$4,627.047.18 64.78 inkion, Distiict 4 ES W, 'WARD] and’ treasurer of ihe 1,743,461.58 540,200.00 | 1ohemily, swear, that 40,055.50 Vice 4,903.20 153‘5'".:‘“” iy (Sealt) BE: o “harter No_ 10504, Renervy Charter Xeubdid gr‘msm"rl ! the TalRl oo eesese cersannaans....$47,086,638.22 City of Washington, District of Columblia, ss.: 3 I, GEORGE O. VASS, cashier of the above-named bank, do solemnly swear that the above statement is true to the best of my knowledge and belief. ? GEORGE O, VASS, Cashier. Subscribed and sworn to before me this 17th day of October, 1927. (Seal.) WM. H. DORSEY, Notary Public, D, C. Correct—Attest: CHARLES C. GLOVER, RANDALL H. HAGNER, JOHN O. LA GORCE, - ROBERT V. FLEMING, WM. J. FLATHER, JOHN 8. LARCOMBE, FLEMING NEWBOLD, EDMUND D. RHEEM, L. E. JEFFRIES, ° COLEMAN JENNING! H. B. SPENCER, H. ROZIER DULANY, JULIUS GARFINCKEL, FRANK J. HOGAN, C. POWELL MINNIGERODE, CHARLES C. GLOVER, Jr., Dt PERIODIC STATEMENTS —of a bank’s condition enables its public to gauge the institution’s progress and to pass judgment upon its strength and the soundness of its policies. THE UNION TRUST COMPANY OF THE DISTRICT OF COLUMBIA takes satisfaction in presenting this report as follows: REPORT OF CONDITION OF THE UNION TRUST COMPANY Of the District of Columbia At Washington, D. C., at the close of business on October 10, 1927. RESOURCES. a Loans and discounts, including rediscounts, acceptances of other banks and foreign bills of exchange or drafts sold with indorsement of this bank . Overdrafts, secured, $1,252.01; unsecured, U. 8. Government securities owned: b All other United States Government securities (in- cluding premiums, if any).............. Other bonds, stocks, securities, etc., owned . Banking house, $1,227,520; turniture and fixtures, $119,990.34 Real estate owned, other than banking house. Cash in vault and amount due from national Amount due from State banks, bankers and trus panies in the United States (other than included in item 10) . Checks on other banl norting BANK ... .iciseosiascbons cesesiinan Total of items 10, 11 and 13 $1,304,321.01 a Checks and drafts on banks (including Federal Reserve Bank) located outsids of city or town of reporting bank Other assets, if any 1927 mufln ROBINSON, otary Publie. rese; il 87 49. Ll;&im- otlier ve stated . 3.044.07 < $956.828.00 oy R 5 s st |- e P above-naméd ‘bank. do solemnly swear that thy above statement s iruo 10 ‘the best ot my knowledge and belief, Vo gBREY. Vice President. Correct—Atte: NATIONAL BANK At Washington. D. C.. at the close of business on ‘October 10, 1927. H. COOPER., é"?‘%'?mfimn. HOGH 1 SBER Charter No. 9545. Correct—Attest: Recurities Al (in e luding: iums, if B Subscri M e i 18th d';;’?;’o‘flngbflé'wa‘z"l'lu st el (Seal.) PEARLE P, C&AHE‘I}M My commission exvires October 15, 103 Correct—Attest : oL &gg D. wgs A, G OSAFY. Directirs. ‘REPORT OF CONDITION SECURITY SAVINGS & COMMERCIAL BANK: At Washington, in the District of Columbia, at the closs of business on October 10, 1927. ESOURCES. 1. a Loans anddiseounis cluding rediscounts, " ac- ceptances of other banks and foreign bills of ex- change or drafts sold with"indorsement of this i +-$4.000.781 47 . Overdrafts unsecured . 100.03 . U. 8. Government sect ‘owned: bAIL other United States - Government __securities including e tors. RESOURCES, 051.245.08 1. aLoans and discounts, in- 331.560.41 Z Reserve District No. §. REPORT OF CONDITION TS Yoo DISTRICT NATIONAL BANK At Washington, in the District of Cglumbia, at the close of business on October 10, 1927, RESOURCES. a Loans and discounts, including rediscounts, acceptances of other banks and foreign bills of exchange or drafts sold with indorsement of this bank.............. . $7,240,433.26 Overdrafts, secured, $208.19; unsecured, $997.64... cevees 1,205.83 U. S. Government securities owned: a Deposited to secure circulation. (U. S. bonds, par value) . ..$503,000.00 b All other U me¢ securities (including premiums, if any).........ooovienno.. 122,614.00 Total. B . Other bonds, stocks, securities, etc., ownedl. . . Customers’ lability account of acceptances executed by this bank and by other banks for account of this bank and now outstanding ....... ceerseenas . Banking house, $949,644.58; furniture and fixt . Real estate owned other than banking house. . Lawful réserve with Federal Reserve Bank.... 9. Items with Federal Reserve Bank in process of collection 10. Cash in vault and amount due from national banks .,.. . 11. Amount due from State banks, bankers and trust companies ;r:‘dfli\g) United States (other than included in items 8, 9 | 12. Exchanges for clearing house 13. Checks on other banks in the same city or to bank (other than item 12). cesieessaas Total of items 9, 10, 11, 12 ane . .$1,996,531.28 14. a Checks and drafts on banks (Including Federal Re- serve Bank) located outside of clty or town of reporting bank ......... $35.985.57 b Miscellaneous cash items 3,742.73 fe. 425.775.30 ; eral Regerve Bank.... 370.257. . Ttems with Federal Reserve [yt 8. Government securi- ki : tiew owned: & Deposited to secure circu- lation (U. 8. b par, $225,000.00 " 38.415.84 673.809.62 1 rament e curities {in- cludine premi- ums, if any) . 16.371.03 120.442.07 for preoniborny . Checks on’oilier banks in the same city or town a8 reporting hank (other than ttem 12 Total of items_§.'16. 11, 2 and 13.$874.000.91 . aChecks and 285.016.10 510,016.10 25.621.45 667.006.25 204,053.24 257.308.97 625,614.00 442,970.92 collection Cash in vaul it due from national banks. . Amount due from State ks, bank eral serve bank) " locat. ed outside of ciy o town of _reporting, hank $2! 64,088.52 202,034.68 72,669.35 1,030,671.66 60,099.81 828,879.43 86,534.25 1,045,480.40 any). .. 97.190.76 other Bori Curities, et6., wned. = 008.000.35 ankin & b 255,700.08: nei"l ‘-tr'i a0 5074 205.207.70 al st Y lh:n"bln o B °“ : 14.551.04 Shilipen s in”vault and amoiin 2 e from, national " asre1nes |13 ; Amount due from . Stata et banks, bankers, and trast 1 United omba" (eher "th Y 2"\ (other than " int $750.000.00 Clided in’ficm 1030 .0 16,003.05 Tatiatng "Four 500.000.00 i 1 e U fienrve 147.243.48 nk) located outside of city or_town of re- ggl‘flnl bank. .$2.078.73 bMiscellaneous cash items. 3.10 Redemption fund with U Treasurer and due from U. S. Treasurer. . . Other. assets. if any. Total .... 34.015:80 74,825.52 109.370.00 fund with U. mrer and due from U. 8. Treasus . Other assets, i any. ot ... . LIABILITIES. stock paid in fund. ouse. REPORT OF CONDITION PARK SAVINGS BANK ‘Washington, in the District of Col A e im0 isineas onr etover 1011 224,554.59 604,305.32 35,656.72 .$7.670.488.40 18,146.60 : Gavital . Surplus aUnai 28.0 25.377.61 .$6.823.062.44 ceptances of wther banks and foreien. i x- 544,058.08 Miscellanéiis cash’ fterma, ther assels any. $4,857,637.5. 3 8,401.89 19.29 39,728.30 25,150.00 39,850.00 4,345.54 ceseresreaiesiienes..$12,408,154.38 LIABILITIES. 63.754.74 274.897.50 15. Redemption fund with U. 8. Treasurer Treasurer . 16. U. S. Government securities borrowed 18. Other assets ... Total dors and due from U. S. unsectired - Government v 00.000.00 11,250.00 .000.0 33.61 5,000.00 3.967,874.80 1,347,510.34 3,582.00 789,440.57 due ' 10’ Federal Reserve Bank (deferred credite) . 5 Amount ~ due banks . 26. a Amount " due "io’ “Stats banks. hankers and triist companies in the United 60.277.67 72.236.58 380.246.08 57.652.51 28.410.57 | % 2.122.58 " it 125,040.69 rom national banks 0,000 ST et e ek bk 80,0057 banke, bankers and trust > United 73.252.50 4.959.3¢ 13.374.65 19. Capital stock paid in... 20. Surplus fund 21. a Undivided profits .... b Reserved for contingencies. * ‘for es. v « $1,000,000.00 contingencle . 433,935.99 800,000.00 80,944.45 banks. b companics States Certified ers, an & 21 in the ol $285.655.40 cLess cu 70.806.11 $94,909.64 20,000.00 $114,009.64 4,980.36 ing 4 . Cashier's ‘checis’ outetand- 25, 28, . $2534.100.74 (other bank " deposits) subiect to reserve jde- nosits payable within 30 daye) : . Individual deposits subject o check ... % . Certificates of dengsit’ i in less than 30 days (other vhan for money 4.534.50 2.955.11 626.53 30,074.97 rren 2220501 expenees paid, fig 22. Reserved for taxe est, etc.. accrued 23. Cireilating notes ink g Amount ‘diie i6 Federal Re. serve * Bank (deferred credity) . Amount di hanki anks . . a Amount " due’ "t State hanks, bankers and_trust in the Unitod for * clearing . ‘Checks on other banks in the same city or town as hank (other 10, 10 3.921.64 214.849.20 22.420.25 217.600.00 ¢ Less current expenses paid 32,166.70 8,055,56 veerannane..$11,528,666.23 23. Circulating notes outstanding................... 5 9 24. Amount due to Federal Reserve Bank (deferred credits) 125,639.54 25. Amount due to national ban] eee ceeen . 481,303.04 26. 8 Amount due to State banks, bankers and trust com in the United States.... 660,563.40 27, Certified checks outstanding. 11,241.62 28. Cashier’s checks outstanding 8,995.11 Total of items 24, 25, 26, 27 and 28. Demand deposits (other than bank deposits) s (deposits payable within 30 days): 29. Individual deposits subject to check. 33. Dividends unpaid ... 34. Other demand deposits . caes . Total of demand deposits (other than bank deposits) subject to reserve, items 29, 33 and 34...............$5,451,607.72 Time deposits subject to reserve (payable after 30 days, or subject to 30 days or more notice, and postal savings): 35. Savings deposits (Including time certificates of deposit other than for money borrowed). 87. Other time deposits. 38. Postal savings deposits. Total of time deposi 35, 37 and 38.. «..$2,945,254.56 39. United States deposits (other than postal savings), including War Loan deposit account and deposits of United States dis- bursing officers ......vuvvvunna... 40. U. 8. Government securities borrowed. .. 43. Bills payable (including all obligations representing money gonl'kr‘n‘:od other than rediscounts), mortgage on Ninth street 48. Acceptances executed by ot soiaisannnbisdehoriinmuseRisi s WIERIDNONEN | g Tantint 151.09 other ) wub- de- 30 sub- b Total.ccvaveccccosnsne deposita Deman than bank tect o reserve ( posits payable within days) : . Individual = deposits Ject to eheck . . Certificates of depos than 30 days n- fo) 2.862.762.78 133.087.48 eea078 Capital stock paid in . Surplus fund ..... a Undivided profits ¢ Less current expenses paid $2,000,000.00 2.250.00 500,000.00 2.445.564.05 .804.10 119, ”§ outside of city or_town of re- .$1,28 i LLl§487.108.13 743, Ct to reserve 341.571.26 1,817.87 7.119.34 18,535.668 in less c & surety hon Dividends unpaid Total of demand ‘deposits Cother ‘than_ bank Dosits) subject o serve. itema 20 30, 870,119.00 0 455,287.76 41,813.24 98,543.04 4,957.12 29,542.05 cash items . Other assets, Total 00 273093 33. 77906 Reserved for taxes, Interest, etc., accrued . . a Amounts due to State banks, bankers and trust com- panies in the United States . Certified checks outstanding .. ‘Treasurer's checks outstanding . . Total of items 26, 27 and 28 ..... $133,042.21 Demand deposits (other than bank deposits) subject to re- serve (deposits payable within 30 days): Individual deposits subject to check .... Dividends unpaid . Other demand deposits . Total of demand deposits (other than bank deposits) subject to reserve, items 29, 33 and 34 ...... . .+85,653,303.01 Time deposits subject to reserve (payable after 30 days, or subject to 30 days’ or more notice, and postal savings): Savings deposits (including time certificates of deposit other than for money borrowed) ceres 2,724,720.01 Total of time deposits 0 reserve, item - 35 $2,724,720.01~ 5,429,432.12 2,981.50 47 2 (other 19,284.10 ) Csuh (denosits 0 davs) : subject NETIT IR LIABILITI) pital stock paid in. . S :‘erufled chec) outstand- chiecks outy 50.000.00 25, 000.00 00.330°43 3.863.82 15.070.67 denos r . Dividends unmaid. [ . Other demand depnsita. ;| Total of demand denosits {other than bank_denos- ita) snbjest to reserve. items 20, 3:% and 34 1.670 50351 Time doposits subject to rexervo (payable after a0 days, or eubject to : or more notice, and vostal savings) : Snvings _denosits ing time certificates of deposit other than for money horrowed) , 5 Other time _deposite Postal savings denokita; ; Total of time deposita wih. fent to roserve. 47 and 38, $2.5 49, Linbilities other t above stated . » 182,667,025 51 deposita epokits subject o mecertificat rve 1 Dosit’ other than for ind- 2,760,625.21 172,492.50 12,136.85 5,121,457.63 40,576.25 491,269.23 28 .. Demand Dosits (other than bank denosita) snb- ject_to reserve (denosits avable within 30 dave ! Individunl ‘deposits subject o check . ... s ividends unpaid.’. 107 otal of demand denosit (other than bank_den snhiect 10 reser: 9 and 5. or o deposits iy vledge of ai of this bank surety’ hond . Qther ‘time. dep: Postal savings de Total of time 1o Teser money 50.04 37. Qiber ‘time deposi v 2,903 319, tal of time 500.000.00 184.057.49 13.131.76 1 531,10(\133 109,685.07 39,850.00 fte) tem 33 . .$1.531.714 66 Savings deposits (inclnding time certificaten of de- posit_ other than money borrowed) .. Total _of time deposits Wibject to reserve. item 35 ......$1.722.991.60 Total ... ... S35 NTIAT strict_of Columbia, ss ROBERT 8. STUNZ. cashier of the | hamed. bank, do solemuly swear thai Ine above statement ls firue 1o the bestof - l"““""'m;'l'zm-r 5. STUNZ. Casbler, Qubseribed_and_sworn to before me this "‘q’g’“."’ of Oclotet 881 4. moUsER o % Notary Public. Correct— At HOMAS SOMERVILLE, GEORGE E. WALKE ORGE A PREVOS ciors. ang i £ $3.283.204.04 . Liabilities other than those above ~ atated (reserve liquidation ~Central stock) .o 2, ies other. above stated 87,500.00 72,669.35 828.19 otal Sesecacanas cererserane...$12,408,154.38 of Columbla, County of Washington, ss. . H. L. OFFUTT, Jr., cashier of the above-named bank, do solemnly swear that the above statement Is true to the best of my knowledge and belief. H. L. OFFUTT, Jr., Cashfer, Subscribed and sworn to before me this 17th day of October, 7. (Seal.) BENJAMIN ROBINSON, Notary Public. Correct—Attest: RALPH P. BARNARD, ROBT. N. HARPER, N i Lot 3 L , Jr., ', CRENSHAW, ¥ EUGENE C. GOTT, 20,600.00 el Total.... Sl District of Columbia, s 1, EDWARD J. STELLWAGEN, President of the above-named bank, do T solemnly swear that the above statement is true to the best of my knowledge | District and bellef. EDWARD J. STELLWAGEN, President. 1 Subscribed and sworn to before me this 17th day of October, 1927, (Seal) J. DUTTON WAINWRIGHT, Notary Public. Correct—Attest: JOHN C. HOYT, FRANK C. HENRY, D. 8. PORTER, DANIEL W. O'DONOGHUE, GEORGE E. HAMILTON, D. J. KAUFMAN, Total | ... 1.722.001.69 | Diatriet of Columbia. 248.422.70 ose e stated. I W. W. MARLOW. cashier of the above- b tad nanied hank. do “solémnly swear that the above statenient i true to the best of my knowledge and belief. W. W MARLOW. Cashier, sBubperibed and’ swarn (0 before me- thin 5t 27, y of October. 1927, ) GER, city ot Wagiiing lumbia, ss. ot W ] {. KSAM';!‘;L IR. o Total Above-nams nlemnly s City of Was A R L A S e S L e } deemnmed_hankc. do my knowledre SR0UEE R, BauLsIR | e Whove atatement. fe irae 10 s 4 heliaf. ribed and aworn to befors | OF my knowledie oot 8 mioxmA . * 0¢ 0 e 1 VNN JBOUDREN Subscribed and aworn to before mo’ this otary Public. | 18th day of Octaner. 1027, {i}inox (Seal.) WILLIA] ?‘ WAENGER, otary Correct—Attest: Directors. PR e : Sub 15th (Ses SAMUEL V. B, Y JOHN G.M JACOB SC) A. L. BALDWIN, THOS. P. MORGAN, CHARLES F. WILSON, H. C. NEWCOMER, JAMES LAMBIE, Correct—At E. A