Evening Star Newspaper, August 19, 1935, Page 9

INPROVED BANK F. D. 1. C. Reports $1,130,- 000,000 in Losses Written | Off by Institutions. Interpreting the figures as showing # vast improvement in the banking structure of the country, the Federal Deposit Insurance Corp. today had sumed up for Congress the results of the first year of deposit insurance. In a 252-page operations for 1934 the corporation McArdleSenate Librarian STRUCTURE SEEN | rexan Succeeds James D. Preston, Pro- moted to Archives Establishment. tatement covering | | said that 14,124 insured institutions— | E§ all but 1,664 of the licensed banks— had written off of their books a tofal of $1.130.000,000 in losses, including £550.000.000 in bad loans accumulated during the depression. This was made possible, it was added, because the banks received $650,000,000 net in new capital, largely from the Reconstruc- tion Finance Corp. Increase in Assets Cited. Despite this the banks' assets rose from $40,610,000.000 to $47.370.000.000 Guring the vear and deposits increased from $31,300.000.000 to approximately $39.000.000.000. It was brought out also that the | percentage of “doubtful and worth- | less” assets of insured commercial | banks not members of the Federal Reserve System had been reduced from 105 per cent of the whole to 6.5 per cent. | When deposit insurance went into effect on January 1, 1934, there were 7.456 insured State non-member banks with total assets of $5.563,599,000, of which $582.777,000 were labeled as “worthless and doubtful” by examin- ers. At the latest check-up these in- stitutions had raised their assets to £6.034.584.000. of which only $395.- 103.000 was listed as worthless and | doubtful. Correspondingly, “worthless” assets, as distinguished from “doubt- ful.” were reduced from 9.1 to 5.9 per cent. In 93 Per Cent of Banks. The F. D. I. C. now has a dlx'm"(‘ financial responsibility in 93 per cent of all the licensed commercial banks in the country. With insurance cov- ering deposits up to $5.000 as against $2.500 previously, the liability of the corporation for insured deposits has ! gone from $10,940.000.000 to $16,640,- 000.000. The corporation said banks had purchased more than $3.000.000,000 in Government obligations during the year. and that this brought one-half of the growth of bank deposits. An-| other fourth was caused by Treasury purchases of gold and silver. | There were nine suspensions in 1934 five traceable to “criminal activities of bank officers” and four to such other causes as bad management and insufficient business. While emphasizing that the aim of the F. D. I. C. is “sound operation of fnsured banks,” the report, signed by Chairman Leo T. Crowley, amplified that deposit insurance is “not a com- plete remedy for the ills of the bank- ing system,” nor for unstable business conditions, avhich will be controlled in large measure “by general economic conditions and monetary and credit developments.” POSTAL INSPECTOR DIES ON TRAIN EN ROUTE HERE Edgar H. Kiine, 60, Was Re- garded as One of Star Men | of the Service. Br the Associated Press. Edgar H. Kline, 60, of Los Angeles, an inspector for the Post Office De- partment, died yesterday of hpart! trouble aboard a train en route rromz Boston to Washington | Kline, a veteran employe of the postal service, supervised the shipment of a large consignment of gold from San Francisco to the Denver Mint last year. He was rated by Kilroy P. Aldrich, chief post office inspector, As “one of our most able men.” Kline was stationed at Los Angeles, but had been called East, Aldrich said, on some special assignments. The body will be sent to Los Angeles for burial. RUSKIN McARDLE, Newly appointed Senate librarian, who succeeds James D. Preston. in legislative research work, was named librarian of the Senate today, to succeed James D. Preston, who was made an official of the Nationl Archives establishment last week. Having spent 14 years as first as- sistant librarian, McArdle’s appoint- ment is a promotion from the ranks. and places at the head of the library an official whose experience will en- able him to answer promptly the thou- sand and one questions Senators ask in the course of a session. When bills are being studied or Senators are engaging in impromptu debate, unexpected issues frequently se. A hurry call is sent to the ary. g in a jiffy information sought requires tedious searching through indexes or books of reference, but sconer or later the answer will be found If a tariff or tax bill is up. for in- stance, the lawmakers invariably will be calling for historical data on pre- vious laws on the same subjects. ‘The library is under the supervision of Col. Edwin A. Halsey, secretary of the Senate. RUSKIN McARDLE. an expert | McArdle hails from Texas. He first <om Occasionally the Usually the answer is forth- | THE E\ EXNING —Star Staff Photo. saw the light of day at Independence, near Old Washington on the Brazos, where on the 2d of March, 1836, Texas' declaration of independence was signed. When Representative Albert S. Bur- | leson became Woodrow Wilson's Post- | master General, McArdle, who had been his secretary for 12 years, went | | with him to the Post Office Depart- ment, where he served eight years, first as private secretary to the Post- | master General and later as chief clerk of the department during the World War, Returning to the legislative branch, this time in the upper body, he pe- came first assistant librarian of the Senate, which post he has held for 14 years. He has the distinction of ! having served under eight Presidents— | McKinley, Theodore Roosevelt, Taft, Wilson, Harding, Coolidge, Hoover and Franklin D. Roosevelt. Having lived through an eventful | era, he has acquired an interesting background and a practical knowledge | of legislative history which should equip him for the duties and added | responsibilities of his new office. snow W LRHITEIS Four Folk with but a Single Each needs a Public Telephone. And each will find one, conveniently located, ready to serve with the biggest nickel's worth in town. RE HAS 10 GET IN TOUCH WITH HIS OFPICE SHE WANTS TO TELEPHONE A FRIEND SHE NEEDS TO TALK 7O HER MADD HE MUST CALL HOME Almost anywhere you go, you'll find public telephones handy. There are about 5000 in Washington alone. Let them save your time,: Yyour energy, your disposition. THE CHESAPEAKE AND POTOMAC TELEPHONE COMPANY 723 13th Street N.W. (Bell System) MEtropolitan 9900 SO SOFT... and SAFE! | Get this new Toilet Tissve. | «..*It cannot irritate ... becouse it's so pure! | —Only the finest materials are used in making M.P.C. Ask your dealer for a roll of M.P.C. — today! Made by Margert Paper Ca, Lomdowen, P | Thought SOME EVERYDAY PUBLIC TELEPHONE USES: To say “Hello” to friends To order groceries To call a taxi To make appointments To change plans To arrange meetings ‘To send telegrams To call out of town To make inquiries To shop in bad weather To make emergency calls ‘To send congratulations ‘To get information To inquire for sick friends When you want to The prices i i Aug. 21, 1935. - Goden Yoo ricn, hea¥¥ sy raasaneT® SAnmierr P> N ——— EVERYDAY VALUES Jumbo Roll Butter . . . . .. ... b 3lc Swift's Brookfield Butter . . . . . . 33c Land O'Lakes Butter . . . . ... b 35¢c Val Vita Orange Juice . . ... “&™10c Afternoon Tea - - -« - - .« ... s 29c Sanitary's Special Tea . . . . . e 23c Sanico Mayonnaise « . . . . ... . 23c¢ Salad Bowl Salad Dressing - . - . & 2lc New Pack Shoe Peg Corn . 2 "' 23c Silver Nip Grapefruit Juice . et 10c Citra Salad Orange and Grapefruit Sections 2 29c¢ Ne. 2 Be CHIPSO'S Guest at Clen Echo Park or Suburban Gardens Free Tickets Good for Amusements W hen Presented With Chipso Box Tops CHIPSO 2:i17¢%x 20c Ask us for details large box Latge size—ideal Moderately for cooking or bak- Priced ing. at Sugar Corn Cantaloupes, 2 tor 19¢cana 3 tor 19¢ Seedless Grapes Large Honey Dews Red Malaga Grapes____2 ms. 19¢ Elberta Peaches Bartlett Pears 3w 25¢ Crisp Iceberg Lettuce 2 hesis 15¢ New Potatoes . . ... 15 m17¢ , California Lemons 3 for10cand 4 for 10c Fresh Green Peas . ... 21 23c " White or Yellow Squash . Bb. 5c¢ Green Peppers . . .. ... 3 for10c _Red or Yellow Sweets . . 4 m. 19¢ California VALENCIA ORANGES Priced according to size. 23cto49c 5. All sizes nmot in all stores. STAR, WASHINGTON, D. C. MONDAY, AUGUST 19, 1935. Sanitary & Pi Owned and Operated by SANITARY GROCERY CO,, INC. Silver Slice GRAPEFRUIT Pfl'ccsdp ?’ifll{‘/uk4'::;:z 4 5 < White Star TUNA FISH can 1 6c Borden's CHATEAU CHEESE Smooth—Mild ‘l 5 pks. c Flavored Kellogg's Whole Wheat Biscuit Splel:;?d'hsearving pkg. ]OC Phillips Delicious Pork & Beans 2230 62025 Musselman's Apple Sauce All This 2 No. 2 ‘I 5 " Week cans White House Apple Butter Big 38 Ounce 1 5 c Jar Only THE CIRCUS IS COMING! WHEATIES 5 . Regularly Priced at 2 for 35¢ AT ALK OR CHEAM AND SUGAR AND SOME KNG 86 FRUT Braakfast WHEATIES . . 2 pkes. 23c SPLENDID SAVINGS HERE Standard Tomatoes . . . . . . . 25¢ New Pack Peas . . . ... ... 15¢ First Prize Margarine - . .. . ... b 15¢c Gibraltar Asparagus . . . . . . . e 15¢ Green and White Limas . . .. 2 " 15¢ Keystone Haved Peaches . . . . 2 &% 29c Sliced Jumbo Bread . . . . . st 7c Airway Coffee . . .. ... ... ..k 17¢c Our Famous Green Bag Coffee . . 1b. 22¢ Fresh "Breakfast’ Eggs vLee’cress'a» doz. 45¢ Fresh Sanico Eggs . . . .. ... . doz 35¢ OUR MEAT MARKETS OFFER ARMOUR’S U.S.No. 1 Graded MELROSE FRANKS or BOLOGNA Briggs make—under U. S. Government inapection—the “top” in quality. v 2Qe Freshly Ground Beef . . » 23c Breast of Lamb . . . . . .® 14c Shoulder Lamb Roast . . » 23c Boiling Beef . . . . . . ®135c¢c Frying or Cooking | SANICO HAMS Compound Small, Lean and Tender 2 b 209 ele 1. P Lo Briggs o aLiverwurst . . 141 12¢ Briggs Luxury Loaf . . t4»12c Briggs Va. Style Baked Ham . .1.41. 20c Briggs Pork & Cheese Loaf . . 141 15¢ On Sale After 4 P.M. Tuesday MACKEREL Not just “fish.” bu: a sea food service that FILLETS brings you the pick of the catch—carefully pro- b 1§e tected—reasonably priced, - 10¢ Whole Salt Mackerel Fresh Trout 7c each 50 No. 2 cans No. 2 cans Your or r Half Choice Fresh Croakers Fresh Boston Mackerel _ » 11¢ Fresh Fillet of Haddock, » 19¢