Evening star. [volume], April 15, 1937, Page A-18, Image 18

About Evening star. [volume] (Washington, D.C.) 1854-1972

Image provided by: Library of Congress, Washington, DC

                
JLT.iT.EHK
I
Quarter’s Net Compares
With $34,442,956 in
Same 1936 Period.
By the Associated Press.
NEW YORK. April 15.—Net income
of the American Telephone & Tele
graph Co. for the quarter ended
March 31 was reported today at $43,
435,751, equal to $2.32 a share on the
capital stock, or 7 cents more than
the quarterly dividend requirement.
In the like quarter of 1936 net in
come was $34,442,956, br $1.85 a share.
For the 12 months ended March 31,
the company’s net income was $183,
819,208, equivalent to $9 84 a share,
compared with $130,089,618, or $6.97 a
chare for the previous 12 months.
In a consolidated statement covering
American Telephone and its 25 prin
cipal telephone subsidiary companies
for the three months ended February
28, the company show's net income of
$53,597,104. equal to $2.87 a share.
This contrasted with $39,662,389 for
the like three months of the previous
year, or $2.13 a share.
For the 12 months ended February
28, net income was $191,989,951, equal
to $10.28 a share, against $138,760,698,
or $7.44 a share for the preceding 12
months. These figures were after
minority interests.
Walter S. Gifford, president, re
ported the number of telephones in
the Bell System increased about 293,
000 in the March quarter, compared
with an increase of 197,800 in first
quarter of 1936. The company has
in service now approximately 14,800,
000 telephones.
FEDERAL LAND BANKS
NEW YORK. April 15 <jP).—Federal Land
Bank bonds:
4*4s Nov.. 1958-38_103*4 104*4
4*4s May. 1957-37_100*4 _
4s May. 1958-38_102*4 103
4s Nov.. 1957-37_1013a 1017 8
4s July. 1940-44 _lot5* 108*s
3*4s May 1955-45_101*4 101 5«
3s July. 1955-45_ . 100 100* 8
3s Jan. 1950-40._ 100 10018
3s May 1950-40_ 100 100*/8
-•
FOREIGN MARKETS.
LONDON April 15 CP).—Gold mining
nhares were asain under pressure in to
day’s stock market and oils and rubbers
also eased There was a fair demand for
motor and silk securities and the gilt
edged division and German bonds also
moved UDward. Trans-Atlantic stocks re
mained steady.
PARIS.—Government bonds closed firm,
rentes making net gains of 40 to 45 cen
times. and Bank of France advanced 95
francs. Royal Dutch and Suez Canal fin
ished 75 and 135 francs up.
• ■ •
NEW YORK PRODUCE.
NEW YORK. April 15 </Pi.—Eggs. 23.
598, irregular: mixed colors unchanged.
Butter. 1 1.499; steady. Centralized (90
•core*. 32*2a3234; other butter prices un
changed.
Cheese. 104.123; steady. State, whole
milk. flats, fresh, fancy. 17al7*2; other
prices unchanged.
Live jjoultry. by freight, barely steady;
prices unchanged.
FIRST TRUST LOANS
Long-term REFINANCING - - -
Lowest Rotes . . . 3-Year Con
struction Loans . . .
5% .
BOSS & PHELPS MORTGAGE CO.
Loan Correspondent
John Hancock Mutual Life ins. Co.
1417 K St. N.W. NA. U300
Charter No. 2038. Reserve District No 6.
REPORT OF CONDITION OF THE
Second National Bank
Of Washington, in the District of Columbia,
at the close of business on March 31 1937.
(Published in response to call made by
Comptroller of the Currency, under Section
5211. U. S. Revised Statutes.)
ASSETS.
1. Loans and discounts $2,302.818 64
2. Overdrafts 98 4J
3. United States Govern
ment obligations, di
rect and/or fully guar
anteed 2.848.3 .0 31
4. Other bonds, stocks ar.d _
securities -- < 00.638.63
3 Banking house. $831.
666.O0: furniture and
fixtures. $59,288.37 890.9o4.3<
7. Real estate owned other .
than banking house 68.398.50
*. Reserve with Federal Re- „ ,
serve Bank 1.114.249.81
9. Cash balances with other
banks, and cash items
in process of collec
tion 1.276.894.49
13. Other assets_ 40.000 94
Total assets __ $9,242,374.18
LIABILITIES.
14. Demand deposits of in
dividuals, partnerships
and corporations_ $3,815,174.16
lft. Time deposits of In
dividuals, partnerships ____ _
and corporations 3.099.235. t <
17. United States Govern
ment and postal sav- __
ings deposits 8 <0.036.15
18. Deposits of other banks.
including certified and
cashier's checks out
standing 455.13 <.84
Total of items 3 4 to 18.
inclusive:
(a) Se
cured by
p ledge
of loans
and/or
In veat
in e nts $1,141 524.22
(b) Not
secured
by pledge
of loans
and or
invest
ments 7.098.062.70
fc> To
t a 1 de
posits $8 239.586.92
t7. Interest taxes, and other
expenses accrued and _ _ ,
unpaid 20.529.94
•8. Dividends declared, but
not yet payable and
amounts set aside for
dividends not declared 1.114.75
19. Other liabilities_ 33.380.94
80. Capital account:
Class
A pre
f erred
stock.
2.416*3
sh ares,
par $60
per
share:
common
stock
7 5 0 0
shares,
par $60
per
share $595,000.00
Surplus 200.000.00
ndivided
prof its
—net _ 144.992.36
Preferred
stock,
r e tire
m e n t
fund 7.769.27
Total
capital
account $947,761.63
Total liabilities_$0,242,374.18
MEMORANDUM: Loans and Investments
Pledged to Secure Liabilities.
•1. United States Govern
ment obligations, di
rect and/or fully guar
anteed $1,216,412.76
#5. Other bonds, stocks and
securities 164.959.50
*4. Total pl’dged (exclud
ing rediscounts) $1,371,372.26
*5. Pledged:
(a) Against United
States Government
,nd postal savings de
posits $1,215,412.76
<c> Against deposits of
trust departments 104.343.50
(d) Against other de
posits 50.616.00
(g) For other pur
poses 1.000.00
(h' Total pledged $1,371,372.26
District of Colombia, ss.:
I FRED R. BEYER cashier of the above
named bank do solemnly swear that the
above statement is toue to the best of my
knowledge and be’ief
(Signed) FRED S. BEYER Cashier.
Sworn to and subscribed before me this
13lh dav of Anril 1037/
(Seal ) ELIZABETH M KINTZ.
Notary. Public. D. O.
Correct—Attest: __
JOHN A. REILLY
VICTOR B. DFVBER.
JACOB 9CHARF
WM. M. HANNAY
EDW. F. COLLADAY.
WM. B. WOLF
Director*.
LEHMAN CORP. PLANS
3-F0R-1 STOCK SPLIT
the Associated Press.
NEW YORK, April 15 —A three-for
one split-up of capital stock of Leh
man Corp., an investment company,
has been proposed by the management,
to be voted upon by shareholders at
a special meeting May 14, it was an
nounced.
If approved, authorized capital stock
will be increased to 2,500,000 shares
from 2.000,000 shares. There are cur
rently outstanding 690,123 shares.
Lehman Corp., one of the larger
units in the investment company field,
reported net assets of $96,376,000 as of
last March 31.
--——•-—
GOLD PRODUCTION
CLIMBS SHARPLY
Large Russian Increases Add
Substantially to World
Upturn.
8pecial Dispatch to The Star.
NEW YORK, April 15.—Production
of gold throughout the world increased
materially last year, with Russia mak
ing spectacular gains, according to
Poor's Industry and Investment Sur
veys. Semi-official reports from Mos
cow indicate that Soviet gold output
in 1936 totaled 10,360,000 ounces and
5.500.000 the preceding year. A further
rise to around 14,000,000 ounces is ex
pected in Russia in 1937.
"In the United States and its pos
sessions last year’s gold production is
estimated at 4,313,000 ounces, an in
crease of 20 per cent over the 1935
output. Canadian mines extracted
3.721.000 ounces, and South Africa
11.339.000 ounces in 1936.
"Supplies of gold are increasing so
rapidly that the world commodity
price level may be affected even
tually. If the new gold finds its way
into the world markets on a large
scale, boosts in commodity prices
appear inevitable.
Increasing costs of production
would, of course, tend to check the
earnings of gold mine companies,
other than Russian. Over the inter
mediate term, however, earnings of
domestic gold miners promise to re
main stable. Although costs of pro
duction are rising somewhat, many
mines are offsetting that adverse fac
tor, either by increasing output or by
extracting ore of higher gold content.
-•
600 TONS OF LEAD SOLD.
NEW YORK. April 15 (P>.—The St.
Joseph Lead Co. reports that 600 tons
of pig lead from Southeast Missouri
mines were sold yesterday at $5.85 per
hundred pounds, St. Louis.
1886
51st Year
1937
of Progress
Office Furniture
STOCKETT
F I SHE CO
PRODUCING STATIONERS
010 E ST* * M • W
Packard Output
Sets All-Time
High for March
By the Associated Press.
NEW YORK, April 15—Packard
Motor Car Co. produced more cars
and delivered more to purchasers in
March than in any previous month in
the company’s history, M. M. Gilman,
vice president and. general manager of
the company, said today.
March production totaled 14,827
units, Gilman said, compared with
6,869 in the like 1936 month, a gain
of 116 per cent. February last was the
best previous month, with output of
12.780 cars.
The present rate of production is
ahead of that for March, he added,
with average daily output of about
680 cars.
For the first quarter production
totaled 38,315 units, against 16,579 Jn
the like period last year, an increase
of 131 per cent.
DOLLAR MOVES DOWN
IN LONDON DEALINGS
By the Associated Press.
LONDON, April 15.—In quiet for
eign exchange dealings the United
States dollar eased 1-16 of a cent
today to close at 4.9013-16 to the
pound. In New York yesterday ster
ling finished at $4.90?g.
French francs were quoted at 110.03
to the pound, compared with the pre
vious close of 109.93 francs.
PARIS. April 15 (/P).—Three per
cent rentes, 66 franc 70 centimes;
4*2 per cent rentes, 71.00.
Exchange on London, 110.04. The
dollar was quoted at 22.42ti.
U. S. TREASURY POSITION.
by the Associated Press.
The position of the Treasury on April
13: Receipts. $15,474,077.(11; expendi
tures. $16,289,148.14: balance, $1,803.
893.071.54: customs receipts for the
month. $19,761,286.
Receipts lor the fiscal year (since July
1). $3,022,625,588.34: expenditures, 85.
848.252.581.39. including $2,231,845,
177.80 of emergency expenditures; excess
of expenditures. $1,925,626,973.05: gross
debt. $34,832,008,911.69. a decrease of
$155.7d.5l under the previous day: gold
assets. $11,687,708,168.06. including
$456,452,963 of inactive gold.
Property Management
EFFICIENT management is
most satisfactory to troth
owner ond tenant.
■ WE specialize in the man- •
agement of all types of in
vestment properties and are
now Monaging Agents for
some of Washington's most
important buildings
WE would welcome the op
portunity of discussing
your management problems
with you.
Randall H. Hagner & Co.,
Incorporated
Real Estate
1321 Conn. Ave. N.W. DE. 3600
Charter No. 4247. Reserve District No. 5. '
REPORT OF CONDITION OF THE
Lincoln National Bank
Of Washington, in the District cf Columbia, at the close of business on
March 31, 1937.
(Published in response to call made by Comptroller of the Currency,
under Section 5211, U. S. Revised Statutes.)
ASSETS.
1. Loans and discounts_$3,570,549.83
2. Overdrafts _ 2,202.09
3. United States Government obligations, direct and/or fully
guaranteed ____ 894 879.88
4. Other bonds, stocks, and securities___ 1,662,509.64
5. Customers' liability on account of acceptances executed_ None
6. Banking houses, $325,803.65; Furniture and fixtures, $35,222.09 361,025.74
7. Real estate owned other than banking house..241,852.56
8. Reserve with Federal Reserve bank_ 1,715,410.73
9. Cash, balances with other banks, and cash items in process
of collection_ 2.913.192.04
10. Cash items not in process of collection_ None
11. Acceptances of other banks and bills of exchange or drafts
sold with endorsement of this bank_ None
12. Securities borrowed-__ None
13. Other assets_ 15,550.52
Total Assets... .$11,377,173.03
LIABILITIES.
14. Demand deposits of individuals, partnerships, and corpora
tions .....*5,659,664.83
15. Time deposits of individuals, partnerships, and corporations 3,956,273.16
16. State, county, and municipal deposits_ 5,347.02
17. United States Government and postal savings deposits_ 13,146.64
18. Deposits of other banks, including certified and cashier's
checks outstanding_ 553,474.37
Total of items 14 to 18, inclusive:
(a) Secured by pledge of loans and/or
investments _ *152.802.34
<b) Not secured by pledge of loans and or
investments ... 10,035,103.68
(c) Total Deposits_ 10,187,906.02
19. Agreements to repurchase United States Government ojliga
tions or other securities sold___ None
20. Bills payable........ None
21. Rediscounts _ None
22. Obligations on industrial advances transferred to the Federal
Reserve bank_ None
23. Acceptances of other banks and bills of exchange or drafts
sold with endorsement of this bank_ None
24. Aceeptances executed by this bank for customers and to fur
nish dollar exchange, exclusive of acceptances of this bank
purchased or discounted_ None
25. Acceptances executed by other banks for account of this bank None
26. Securities borrowed_„_ None
27. Interest, taxes, and other expenses accrued and unpaid_ 16,975.00
28. Dividends declared but not yet payable and amounts set aside
for dividends not declared_ None
29. Other liabilities_ 28.00
30. Capital account:
Common stock, 4,000 shares, par *100 per
share _ $400,000.00
Surplus__ 400,000.00
Undivided profits—net_ 372,264.01
Reserves for contingencies_ None
Preferred stock retirement fund_ None
Reserve for dividend payable in common
stock _ None
Total Capital Account_ 1,172,264.01
Total Liabilities-. $11,377,173.03
MEMORANDUM: Loans and Investments Pledged to Secure Liabilities.
31. United States Government obligations, direct and/or fully
guaranteed . $240,443.75
32. Other bonds, stocks, and securities__ 90,358.75
33. Loans and discounts_ None
34. Total Pledged (excluding rediscounts)_ $330,802.50
35. Pledged:
(a) Against United States Government and postal
savings deposits.. $50,000.00
(b) Against State, county, and municipal deposits_ None
(c) Against deposits of trust departments_ 168,358.75
(d) Against other deposits_ None
(e) Against borrowings___ None
(f) With State authorities to qualify for the exercise of
fiduciary powers_ 111,443.75
(g) For other purposes- 1,000.00
(h) Total Pledged..... $330,802.50
City of Washington. D. C„ ss:
I, JAMES A. SOPER, cashier of the above-named bank, do solemnly
swear that the above statement is true to the best of my knowledge and belief.
(Seal) JAMES A. SOPER, Cashier,
JAMES A. SOPER, Cashier.
Sworn to and subscribed before me this 13th day of April, 1937.
(Seal) EVERETT H. PARSLEY, Notary Public, D. C.
My commission expires Sept. 16, 1937%
Correct—Attest: .
GEORGE I. BORGER, HOWARD R. NORTON,
WILLIAM W. BRAWNER, HENRY T. OFFTERDINGER,
FLOYD E. DAVIS. GEORGE C. PUMPHREY,
ALBERT S. GATLEY, JOHN SAUL,
W. W. GRIFFITH, FRED A. SMITH.
FRANKLIN W. HARPER, HOWARD L WILKINS,
LEROY W. HERRON, Director*.
* *
* i
ime CROP EXPECTED
TO BE LATE THIS YEAR
By the Associated Press.
The Agriculture Department pre
dicted yesterday that marketing of the
early lamb crop before July 1 would be
much below average.
Cold and wet weather In March de
layed growth of seed and range, the
department said, and the lamb crop
was expected to be late.
Fattening of yearlings and wethers
tn Texas also was delayed, the depart
ment said, but added that heavy mar
ketings from that State ‘‘during the
next three months will probably more
than offset expected decreased market
ing of fed lambs and early Spring
lambs from other States.”
DIVIDENDS ORDERED.
NEW YORK, April 15 (Special).—
Directors of International Utilities
Corp. have declared dividends, for the
quarter ending May 1. of $1.75 per
share on the $7 prior preferred stock
and 8714 cents per share on the $3.50
prior preferred, series 1931, both pay
able May 1 to stockholders of record
April 22.
-•
ANGOSTURA STOCK OFFERED.
NEW YORK, April 15 VP).—Public
offering was made today of 170,000
shares of Angostura - Wuppermann
Corp. common stock, less whatever
shares are subscribed for by present
stockholders under an existing offer.
The offering to the public is at the
market price on the New York Curb
Exchange, which is currently in the
neighborhood of $7 a share.
Safe
Investments
First mortgage notes,
f* well secured on Cott
le /f\ servatively appraised,
^ new buildings in
Washington and near
by Maryland. Denominations of
$500 up. Interest 6% per annum.
Bradley, Beall & Howard, Inc.
Southern Bldg. Phone Nat. 0271
Established Nearly 40 Years
Reserve District No 5.
REPORT OF CONDITION OF THE
Morris Plan Bank
of Washington
Of Washington, in the District of Columbia,
at the close of business on March 31 1937.
• Published in response to call made by
Comptroller of the Currency, under Sec
tion 5211. U. S. Revised Statutes.)
ASSETS.
1. Loans and discounts $1,852,148.17
2. Overdrafts 40.91
3. United States Govern
ment obligations, di
rect and or fully guar
anteed 35,500.00
6. Banking house. nor.e;
furniture and fixtures.
$5,205.88 __ 5.205.88
8. Reserve with approved
reserve agencies 87.597 28
9. Cash balances w’ith other
banks, and cash items
in proces of collection 157 040 76
10. Cash items not in process
of collection 103 00
13. Other assets _ 4.020.93
Total assets _ $2,141 656.93
LIABILITIES
14 Demand deposits of in
dividuals. partnerships
and corporations $128,162.44
15. Time deposits of in
dividuals partnerships
and corporations 1.452.037.04
18. Deposits ol other banks,
including certified and
cashiers checks out
standing 98.324.85
Total of items 14 to 18.
inclusive:
(b) Not
secured
by pledge,
of loans
a n do r
i n vest
ments . _ $1,678,524 .33
(c) T o
t a 1 d e- *
posits $1,678 524.33
27. Interest, taxes and other
expenses accrued and
unpaid _ 15.504.31
20. Other liabilities _ 89.315.38
30. Capital account:
C o mm on
stock.
1 0.000
shares.
par
$70.00
per
*hare $200 000.00
Surplus 77.500 00
Undivided
pro fits
—net 40.586.89
R e serves
for con
tin Ren
cies 40.226 02
Total capital account 358.312.91
Total liabilities $2,141,656.03
City of Washington. District of Columbia, ss:
I. V WALTON RHINE, cashier of the
above-named bank, do solemnly swear that
the above statement is true to the best of
my knowledae and belief
V WALTON RHINE. Cashier
Sworn to and subscribed before me this
14th day of April. 1037.
(Seal.) ELIZABETH P WAYLAND
Notary Public.
Correct—Attest:
' WILLARD G. BARKER
W CAMERON BURTON.
WM. CLARK TAYLOR.
EDWIN A. MOOERS
Trustees.
PARIS BANK CHANGES.
PARIS, April 16 UP).—The Bank of
France statement for the week ended April
9 (in millions of francs):
Gold reserve, 67.358; unchanged. Sight
balances abroad 12: decrease. 1. Bills
purchased abroad. 1.153; decrease. 12.
Discounted commercial bills. France. 7.601:
Increase. 469. Temporary advances to
state (prior to 6-18-36). 12.203; decrease.
62. Temporary advances to state (sln«e
6-18-36). 7.800- unchanged. Advances
against securities. 3.801: decrease. 95
Circulation, 86.207; decrease. 637. Total
credit to current accounts 18.068 ins
crease. 1.142. Thirty-day advances against
government securities. 1,220: increase. 420
Rate of discount. 4 per cent.
LONDON BANK REPORT.
LONDON. April 15 (/pi—The Bank of
Enaland statement for the week ended
April 14 (In thousands of poundsi:
Circulation 4tj5tid4: decrease 4 575
Bullion, 1114,575; decrease. II. Reserves,'
48.878; increase. 4.5(14. Public deposits.
55H71 ■ decrease “140. Private deposits,
1114 HIS; increase. 1,(151. Government se
curities 0H!l4!i; decrease 4.155 Other
securities 511.(1511; decrease. (1411. The pro
portion of the bank's reserve to liability Is
111 per cent compared with 58.50 last week
Rate of discount. 2 per cent.
-•
BROKER JOINS BOARD.
NEW YORK, April 15 (/$>).—Charles
W. BRker, a partner in the stock ex
change of Laird, BLssel & Meeds, was
elected a director of Newport Indus
tries. He succeeded John A. Wood
bridge, who retired.
OFFICE FURNITURE
WE SELL, BUY OR EXCHANGE
Desks Steel Files
Tables Steel Cabinets
Chairs Safes
BAUM’S FURNITURE HOUSE
1416 Eye St N.W Phone NA. 2184
Steel Ingot Rate
Remains at Best
Level Since 1929
Bt the Associated Press.
CLEVELAND, Ohio, April 15.—
Daily Metal Trade today says:
Despite noticeable slackening in new
business, steel makers have made lit
tle- headway toward reducing large
order backlogs accumulated over re
cent month, and under pressure for
deliveries ingot operations are being
maintained at the highest rate since
1829.
At midweek the national ingot rate
is estimated at 91 per cent of capacity,
unchanged from a week ago.
Producers in many instances are j
sold out entirely on second-quarter
tonnage and in a number of cases
have order backlogs which carry inta
third quarter.
Money for Contraction Loan*
and
Loan* on Improved Properties
Prevailing Rates
FIRST DEED OF TRUST ONLY
GEORGE L BORGER
643 Indiana Avc. N.W.
Nat’l 0350
Reserve District No. 5.
REPORT OP CONDITION OF THE
The Washington Loan & Trust Co.
Of Washington, in the District of Columbia, at the close of business on March
31, 1937. (Published in response to call made by Comptroller of the Currency,
under Section 5211, U. 8. Revised Statutes.)
ASSETS.
1. Loans and discounts----$7,915,341.73
2. Overdrafts ____-.. 455.50
3. United States Government obligations, direct and/or fully
guaranteed ...... ... --- 7.873,339.90
4. Other bonds, stocks and securities _____ 1,911,373.78
6. Banking houses, $1.793,716.80; furniture and fixtures, $148,
641.84 .... .... 1,942.358 64
7. Real estate owned other than banking house.... 504,392.74
8. Reserve with Federal Reserve Bank _ 5,871,700 93
9. Cash, balances with other banks and cash items in process of
collection _ 5,078,281.16
10. Cash items not in process of collection..... 11,468.76
13. Other assets____87,342.67
Total assets ______ S31.196,055.81
LIABILITIES
14. Demand deposits of individuals, partnerships and corpora
tions __ -_ -- -..*16,590,558.80
15. Time deposits of individuals, partnerships and corporations .. 10,473,488.43
18. Deposits of other banks, including certified and cashiers'
checks outstanding ....... .....__719,403.39
Total of items 14 to 18, inclusive:
(a) Secured by pledge of loans and or
investments *1,071,279.53
(b) Not secured by pledge of loans and or
investments . _ 26,712,171.09
(c) Total deposits ...... *27,783,450.62
27. Interest, taxes and other expenses accrued and unpaid_ ' 050.21 ,
29. Other liabilities ... _ 1 054 35
30. Capital account:
Common stock, 10,000 shares, par $100 per
share _ $1,000,000.00
Surplus . . 2.000.000.00
Undivided profits—net_ 304,485.64
Reserves for contingencies_ 99,014.99
Total capital account___ 3.403,500.63
Total liabilities_ $31,196,055.81
Memorandum: Loans and investments pledged to secure
liabilities:
31. United States Government obligations, direct and/or fully
guaranteed _ $1,519,125.00
34. Total pledged (excluding rediscounts)_$1,519,125.00
35. Pledged:
(c) Against deposits of trust departments..... $1,265,625.00
(f) With State authorities to qualify for the exercise of
fiduciary powers _ 252,500.00
(g) For other purposes_ 1,000 00
(h) Total pledged. $1,519,125.00
City of Washington, District of Columbia, ss:
I. GEO. M. FISHER, Treasurer of the above-named bank, do solemnly
swear that the above statement is true to the best of my knowledge and belief.
GEO. M. FISHER, Treasurer.
Sworn to and subscribed before me this 13th day of April, 1937.
(Seal) ARTHUR C. HARMAN.
Notary Public.
CORRECT—Attest:
HARRY G. MEEM, H. BINGHAM,
ALFRED H. LAWSON, JOHN A. JOHNSTON,
L. W. ESTES, A. C. OLIPHANT,
GEORGE A. KING, GEORGE P. HOOVER.
S. H. KAUFFMANN, JAMES ALEXANDER LYON,
WALTER S. PRATT, Jr., TENNEY ROSS,
WM. H. BALDWIN, THEODORE W. NOYES,
i WM. E. PEARSON, CHARLES G. TREAT,
CHARLES H. DOING, Directors.
Charter No. 1069. Reserve District No. 5.
REPORT OF CONDITION OF THE
NATIONAL METROPOLITAN BANK
Of Washington, in the District of Columbia, at the close of business on March 31, 1937.
(Published in response to call made by Comptroller of the Currency, under Section 5211,
U. S. Revised Statutes.)
ASSETS.
1. Loans and discounts_ $3,099,114.70
2. Overdrafts - 293.90
3. United States Government obligations, direct and'or fully guaranteed_ 12,477,433.55
4. Other bonds, stocks, and securities_ .. ... . _ 1,053,705.21
6. Banking house, $800,000.00; Furniture and fixtures, $25,418.77_ 825,418.77
7. Real estate owned other than banking house _ 1.00
8. Reserve with Federal Reserve bank.. . .... . _ 8,900,363.30
9. Cash, balances with other banks, and cash items in process of collection_ 5,758,670.92
10. Cash items not in process of collection_ 718.90
13. Other assets- 2,066.21
Total assets..—----$32,117,786.46
LIABILITIES.
14. Demand deposits of individuals, partnerships, and corporations_$18,252,340.20
15. Time deposits' of individuals, partnerships, and corporations_ 7,330,144.43
17. United States Government and postal savings deposits .. _ 350,000.00
18. Deposits of other banks, including certified and cashier’s checks outstanding- 3,717,420.62
Total of items, 14 to 18, inclusive:
(a) Secured by pledge of loans and/or investments_$2,619,247.25
(b) Not secured by pledge of loans and or investments_ 27,030,658.00
(c) Total Deposits - $29,649,905.25
27. Interest, taxes, and other expenses accrued and unpaid_ _ - 12,244.57
28. Dividends declared but not yet payable and amounts set aside for dividends not
declared - 24,000.00
29. Other liabilities- 196.09
30. Capital account:
Common stock, 8,000 shares, par $100.00 per share_$800,000.00
Surplus_ 800,000.00
Undivided profits—net_ 831,440.55
Total Capital Account_ 2,431,440.55
Total Liabilities__.$32,117,786.46
MEMORANDUM: Loans and Investments Pledged to Secure Liabilities.
31. United States Government obligations, direct and/or fully guaranteed_$3,504,359.38
32. Other bonds, stocks, and securities___ 59,937.50
34. Total Pledged (excluding rediscounts)_$3,564,296.88
35. Pledged:
(a) Against United States Government and postal savings deposits_ $646,937.50
(c) Against deposits of trust departments... _ 999,971.88
(d) Against other deposits . .... __ .. _ 1,716,387.50
(f) With State authorities to qualify for the exercise of fiduciary powers_ 200,000.00
(g) For other purposes_ 1,000.00
(h) Total Pledged_________$3,564,296.88
District of Columbia, ss:
I, C. F. JACOBSEN, cashier of the above-named bank, do solemnly swear that the above state
ment is true to the best of my knowledge and belief.
C. F. JACOBSEN, Cashier.
Sworn to and subscribed before me this 14th da? of April, 1937.
(Seal) WM. G. WINSTEAD,
Notary Public.
Correct—Attest:
GEO. W. WHITE, LOUIS D. BLISS, OTIS BEALL KENT,
A. A. HOEHLING, HENRY A. WILLARD, 2nd, J. THOMAS KELLEY, Jr,
O. H. P. JOHNSON, C. F. R. OGILBY, FRANK F. NESBIT,
CHARLES JACOBSEN, W. K. WIMSATT, Directors.
. 1
Charter No. 3425. Reserve District No. 5.
REPORT OF THE CONDITION OF THE
National Bank of Washington*
Of Washington, in the District of Columbia, at the close of business on
March 31, 1937.
(Published in response to call made by Comptroller of the Currency,
under Section 5211, U. S. Revised Statutes.)
ASSETS.
1. Loans and discounts__$3,656,297 45
2. Overdrafts_____ 457.15
3. United States Government obligations, direct and/or fully
guaranteed ..-. 3,953,809 38
4. Other bonds, stocks, and securities___ 218,735.50
6. Banking house, <423,004.00; Furniture and fixtures, $61,887.34 484.891.34
7. Real estate owned other than banking house___ 614,200.00
8. Reserve with Federal Reserve bank... 1,278,741.76
9. Cash, balances with other banks, and cash items in process
of collection-:... 1,636.106.70
10. Cash items not in process of collection_ 2,306.22
Total Assets.......$11,845,545.50
LIABILITIES.
14. Demand deposits of individuals, partnerships, and corpora
tions .. $5,723,895.90
15. Time deposits of individuals, partnerships, and corporations 3.916,347.71
17. United 8tates Government and postal savings deposits_ 105,000.00
18. Deposits of other banks, including certified and cashier's
checks outstanding_ 319,365.46
Total of items 14 to 18, inclusive:
(a) Secured by pledge of loans and/or
investments _ $375,849 05
(b) Not secured by pledge of lc^ans and; or
investments -. 9,688.76002
(c) Total Deposits.$10,064.609 07
27. Interest, taxes, and other expenses accrued and unpaid. 26,069 38
29. Other liabilities_ 46.03
30. Capital account:
Common stock, 10,500 shares, par $100 per
share . $1,050,000.00
Surplus _ 450,000.00
Undivided profits—net_ 189,580.20
Reserves for contingencies_ 65.240.82
Total Capital Account_ 1,754,821 02
Total Liabilities___$11,845,545.50
MEMORANDUM: Loans and Investments Pledged to Secure
Liabilities.
31. United States Government obligations, direct and/or fully
guaranteed . $695,330.72
34. Total Pledged (excluding rediscounts)_ $695,330.72
35. Pledged:
(a) Against United States Government and postal
savings deposits_ $105,000,00
(c) Against deposits of trust departments_ 99,791 66
(d) Against other deposits_ 220,000.00
(f) With State authorities to qualify for the exercise of
fiduciary powers_ 263,539.06
(g) For other purposes_ 1,000.00
(h) Total Pledged-. $695,330.72
City or Washington, District of Columbia, ss:
I, RUTHERFORD J. DOOLEY, cashier of the above-named bank, do
solemnly swear that the above statement is true to the best of my knowledge
and belief.
RUTHERFORD J. DOOLEY, Cashier.
Sworn to and subscribed before me this 14th day of April, 1937.
S. J. COSIMANO, Notary7 Public.
CORRECT—Attest:
J. FRANK WHITE, MAURICE F FLYNN.
JAMES TRIMBLE, JOHN EDMUND CAMMACK,
G. W. FORSBERG, GEORGE N. EVERETT.
MORRIS E. MARLOW, CLARENCE F. NORMENT, Jr.,
GEORGE P. SACKS, W. CLARENCE MILLER,
ARTHUR MAY, MICHAEL A. KEANE.
LOUIS M. DENIT, Directors.
ODELL S. SMITH,
Reserve District No. t.
REPORT OP CONDITION OP THE
National Savings and Trust Company
Of Washington, in the District of Columbia, at the close of business on
March 31, 1937.
(Published in response to call made by Comptroller of the Currency,
under Section 5211. U. S. Revised Statutes.)
ASSETS.
1. Loans and discounts_r_$9,320,403 15
2. Overdrafts ..1.. 637.34
3. United States Government obligations, direct and/or fully
guaranteed _ 2.794.796.93
4. Other bonds, stocks, and securities_ 1.677,882.21
5. Customers’ liability on account of acceptances executed_ None
6. Banking house, $1,232,181.05; Furniture and fixtures.
$58,344.49 _.*.. 1,290,525.54
7. Real estate owned other than banking house_ 1,451,605.26
8. Reserve with Federal Reserve bank_ 1,969,706.19
9. Cash, balances with other banks, and cash items in process
of collection_ 3,124,794.44
10. Cash items not in process of collection_ 62.74
11. Acceptances of other banks and bills of exchange or drafts
sold with endorsement of this bank_ None
12. Securities borrowed_ None
13. Other assets_ 19,188 19
Total Assets. .$21,649,601.99
LIABILITIES
14. Demand deposits of individuals, partnerships, and corpora
tions _ $9,908,340.30
15. Time deposits of individuals, partnerships, and corporations 8 216,513 93
16. State, county, and municipal deposits___ Non*
17. United States Government and postal savings deposits_ Non*
18. Deposits of other banks, including certified and cashier's
checks outstanding__ 47.640.35
Total of items 14 to 18, inclusive:
ta) Secured by pledge of loans and/or
investments ___ None
(b) Not secured by pledge of loans
and/or investments_$18,172,494.58
(c) Total Deposits_*18,172.494.58
19. Agreements to repurchase United States Government obliga
tions or other securities sold_ None
20. Bills payable_ None
21. Rediscounts _ None
22. Obligations on industrial advances transferred to the Federal
Reserve bank_ None
23 Acceptances of other banks and bills of exchange or drafts
sold with endorsement of this bank_ None
24. Acceptances executed by this bank for customers and to
furnish dollar exchange, exclusive of acceptances of this
bank purchased or discounted_ None
25. Acceptances executed by other banks for account of this bank None
26. Securities borrowed_ None
27. Interest, taxes, and other expenses accrued and unpaid_ 39,500.00
28. Dividends declared but not yet payable and amounts set
aside for dividends not declared_ Non*
29. Other liabilities_ 143.10
30. Capital account:
Income Debentures_*613,700.00
Class A preferred stock, none; Class B
preferred stock, none.
Common stock, 10,000 shares, par *100 per
share ___*1,000,000 *1,613,700.00
Surplus _ 1,000,000.00
Undivided profits—net_ 672,045.16
Reserves for contingencies_ 151,641.55
Income Debentures Retirement Fund- 77.60
Preferred stock retirement fund_ None
Reserve for dividend payable in common
stock __ None
Total Oapital Account_ 3.437.464 31
Total Liabilities-.*21,649.601.99
MEMORANDUM: Loans and Investments Pledged to
Secure Liabilities.
31. United States Government obligations, direct and/or fully
guaranteed - *825,463.77
32. Other bonds, stocks, and securities_ 189.465.94
33. Loans and discounts- None
34. Total Pledged (excluding rediscounts)__*1,014,929.71
35. Pledged:
(a) Against United States Government and postal
savings deposits_ None
(b) Against State, county, and municipal deposits_ None
(c) Against deposits of trust departments_ $607,260.95
(d) Against other deposits_ None
(e) Against borrowings_ None
(f) With State authorities to qualify for the exercise of
fiduciary powers_ 406,658.13
(g) For other purposes_ 1,010.63
(h) Total Pledged-$1,014,929.71
District of Columbia, ss:
I, FRANK R. ULLMER, Treasurer of the above-named bank, do solemnly
swear that the above statement is true to the best of my knowledge and belief.
FRANK R. ULLMER, Treasurer.
Sworn to and subscribed before me this 13th day of April, 1937.
(Seal.) JOHN W. CROW, Notary Public.
My commission expires August 10, 1939
Correct—Attest:
H. PRESCOTT GATLEY. VICTOR KAUFFMANN,
WILLIAM B. WILLARD, WILSON B. NAIRN.
WILLIAM D. HOOVER, H. ROZIER DULANY, Jr.,
BRUCE BAIRD. FREDERICK A. FENNING,
DAVID BORNEJT, CHAS. S. BAKER.
WALTER C. CLEPHANE, THOMAS A. BUTT,
MARCY L. SPERRY, CLARK G. DIAMOND,
REGINALD 8. HUIDEKOPER, L. CORRIN STRONG.
Director* j
*