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I ' WASHINGTON BANKS
RANKS ARE THE BUST OFEXCELLENCE BUSINESS BAROMETERS F j MONDAY, NOVEMBER 7, 1921. MONDAY, NOVEMBER 7, 1921. LOCAL BA? BANK BALANCES CONTINUE DESPITE HEAVY INVES SHORT TERM TREASURY +on buying Treasury certificates of =16300000 i Flnnclee sort terms and other securities being $163,000,000 in Financiers' ~f ue .nta h cofrdby Uncle Sam. and shows the Hands-Millions Are With. way the prosperity wind is blowing. drawn for Large Payments. Depsss Total SI1s3MMSN. In response to the call of the Comp With a gain of nearly $5,250,000 tn troller of the Currency asking state rpoeite during the past year. Wash ments of the District banking institu iagton banking institutions are look- tions at the close of business on Sep ing forward to an era of great pros- tember 8, 1120, the returns showed perity, according to gossip in local fi- total deposits of nearly $163,000.000. ancial circles. Then came heavy withdrawals from This gain, leading bankers point out, all parts of the country, depositors was Ma46 in the face of withdrawals, coming forward with heavy suberip estCanting to several millions, which tions to the issues of Treasury certi wwrs checked out by depositors intent ficates of indebtness, Washington Banking, Trust and Mortgage Company Organizing Will open for business about December 1st. Temporary Quarters 1409 H Street N. W. Organization Offices 501-502 Westory Building Phone Franklin 660 THE Bank of the Northwest Reflects the Prosperity of Greater Washington The policy of the Northwest Savings Bank is to aid in the prosperity of Washington, and especially to assist the commu nity in wvhich it is located. In return it has been benefited by the city's development, as shown by the bank's prosperous condition. To render the best service and encourage sound business mneth ods is its policy.. Northwest Savings Bank 18th Street and Columbia Road FRANCIS M. SAVAGE JrAMES M. BEALL FRANK S. BRIGHT GREGG, C. BURNS Vra ...ua..e.t r-..Ai. IKS R GROWTH TMENTS IN CERTIFICATES nking institutions and depositors did not lag, the bankers point out, in the matter of subscriptions. Heavy -withdrawals also were made for the payment of Federal taxes, and Washington bankers did not see how anything but a big loam of deposits could result. However, the deposits began flow ing again slowly back to the banks hut the bankers could hardly lead themselves to believe that the large withdrawals would be made up. Bankers Perplexed. Additional offerings were made by the Government during the progress of the year. and as eagerly taken up by the year. and as eagerly taken up hankers were still wondering just how the situation stood in the District. Many leaders felt that in the call of the Comptroller for the condition of the banks on September 6, 1921, would show a considerable loss in deposits over the sum in hand on September 6, 1920. and great was the surprise to find that there was a gain of nearly $5.250,000. Now the deposits are floiwng like a school of salmon changing its foding ground in Alaska waters, and the lead ers of it- financial institutions of the city expect an era of great prosperity. Expect Deposits to Mount. Special progress has been made by the national banks of the District in the big gain being secured, with the savings banks and trust companies following. With prosperity turning the corner all over the country, the District banking leaders now expect the de posit gains to mount larger and larger weekly until a record for all time is established. I HEAR THAT (This column is a regular feature of The Times financial page.) By BROADAN WALL, t Registered U. S. Patent Office.) NEY YORK, Oct. 7.-A broad smile spreads over the face of E. T. Bed ford, head of the Corn Products Com pany, when his attention is called to the sales of certain plants forced under the segregation plan. The Continental Candy purchased one of the plants. It is in receiver. ship. Persons desiring to curry favot with the "old man." as employee call Mr. Bedford, usually approach him with this compliment, and then let go their proposition while the head of the Industrial captain is in good humor. George Briggs Buchanan. meinber of the New York Stock Exchange. who induced a number of his as sociates to make small sized fortunes in corn products stock which he hulled from $9 a share up, is bullish on chain store stocks. He believes that the jobber in the grocery busi ness must be eliminated and that eventually he will, through the opera tion of more Chain stores. An illus tration of a real bull in activity re sults from the mention of Jones's Tea to "Buck" Buchanan. "It hasn't a Chinaman's chance" has a deeper mepning to the banking fraternity now that the Chinese loan 7gotlations have fallen through. A New York stock exchange house received a letter from a man desiring a position. The writer said that he had just worked about 600 customers into a frame of mind to buy anything looking like a stock when the firm employing him failed. He said the prospective investors were ready for plucking. On this premise he asked for a position. The letter was for warded to the exchange authorities. who will see that the writer's name Is listed among undesirable employee. The writer had better look for a job in some other field. A dollar of margin now does the work done by two durIng the war boom. Ftnanciers and brokers bhhnr Any thing second haid except when pur chasing works of art. Hence the disgust entertained hy members of the stock exchange at the discovery that second-hand glas was put in its big exchange floor windows following the Wall Street explosion. The exchange authorities believed that the glass wa new, but after more then a year's use faint letters are gradually beginning to appear. They cannot be seen e'xcept from the inside of the Institution. D. C. QUOTA FOR SECOND IRiSH LOAN IS $100,000 A quota of $100,000 has been assign. ed to the District of Columbia in the second external loan of the Republic of Ireland, which will be opened In Washington on November 15, closing December 16. The people of the United States will be asked to sub. sribe 330,000,000. Anthony J. Bar. rett has been named chairman of the Washington committee. Bend certifieates In denominations of $10, 330, 3$,0. 5100, and multiples of 3100 will be offered to subseribers hre The honds themselves are to be Issued and ar'ranh'ementa made for their redemption and foe interest pa"' mnte when the Repubie of firfand receives international recognition. Officers of the general eammiittee in charge of the campsign In the l'is trict are: Mr Barrett. chairman. Thomee P Brown. treesurer; end GeadMcLsughlin, direetor of the nonsto edurters have been estab'shed in the Southern building. I EFLE( DISARM PARLEY TO ORAW TRIE OF TOURIST HOST 20,000 Visitors to Be in City, Babson, Noted Economics Statistician, Predicts. Washington faces a busy winter." This is the message which Roger W. laboon, eminent statistician and ad visor to investors, has sent out to his thousands of correspondents in all parts of the oountry. Mr. Babeon makes the statement that the foreign delegates to the con ference will spend $2,000,000 monthly with Washington merchants, and that the city faces an era of greatest pros perity. No definite information is avail able, he points out regarding the number of people that will attend the conference, but unofficial estimates place it in the vicinity of 30,000. First of Delegates Here. The first delegates are now in this country, with the others on the way from all parts of the globe, and the big advance for Washington is at hand. The delegates comprise not only the official delegates, but their experts, assistants. clerks, stenographers, translators and the like. From the calls on the local hos telries for accommodations, it to re garded as practically certain that thousands of visitors from all parts of the nation are preparing to flock to Washington as a historical and social Mecca. Altogether. then. Washington will have a substantial growth in popula tion of a class with liberal purchas ing power. Expected to Purchase Freely. Thousands of the visitors who will be on their first trip to the city, It Is pointed out, will want to participate in the social pleasures, and as a result will be particularly free in their pur chases. To add to the prospects for an ex traordinary fall and winter trade for Washington merchants are the of 'icial guesses that the parleys will keep the visitors here all winter. Washington, therefore, to experts, seems to be in for what Mr. Babeon takes occasion to point out-"A Big Business Boom." No Sacs Sets th The Washington Main Of fe F at Ninth RESOURA( Q :T CITY'S P RAILROAD LINE TO INVADE *tec of the cempany wan noma. SOU THERN MARYLAND to 6'"'"o to provide for the extoil sion. Work ie expected to uart this UPPER MARLBORO. Md., Nov. 7' week. and the extension wil blow --he Waahlngten. Drandywine and th, original right of way. The coin Punt Lookout railroad has decided to pletion of this road to d cO war extend Its lne to Point Lookout. At is a great deal to southern Mary s rneetlgni of stockholders the capital land. I. ..' wev: I vbf Young Man! Your city is destined to become one of the greatest in the world! What Are Your Prospects? What does prosperous Washington mean to you? Will you share in your city's prosperity? Are you keeping pace with Washington? There is only one answer. James J. Hill once said that a young' man who did not possess the savings habit did not possess the seed of success. He was right! Start a gavings account today-no matter how small! It is the first step to prosperity. The thrifty man will be a credit and a help to his community while the shiftless man will be a millstone. Not only to yourself-but to your city-the future metropolis of the world-do you owe your first step to individual prosperity. Start a savings account today! Citizen's Savings Bank "The Bank of the People" 1336 New York Avenue N. W. rifice Is Vain Which e Nations Thinking The concerted effort of nine great na tions to profit by the lessons of the great war is an augury of benefit to all the world. A better understanding of the common interests of - mankind will develop com merce, diminish unproduc tive labor, decrease taxa tion, bring peace, prosper ity and happiness and unite all peoples in perpetual - W. concord. We welcome the nation's guests who come with so - high a purpose and wish them complete success in their efforts. During their stay it will be our province and pleas ure to solve their individual problems of finance or for eign exchange at our two convenient banking houses. Loan and'Trust Company OHN B. LARNE.R, President West End Branch Seveteeth at ad Pennsyfvania Ave. 2nS THIRTEEN MILtIONs furOL.ARn ROSPERITY COMMISIONER KELLER lyluncheon at the Arlington Nerd GUEST OF OPTIMIST CLUB Ce4 Minster. asisted by other leca talent. will entt.rlnin the mnembers with 4eut. Col. Charles Keller. Engineer musical ape. al..e. An oyster rost Cemmluislser of the District of Co. will also be ivn by the Optinhiut Club hambia, will be the guest of the Opti. riday. November IS at Almas Club mist Club of Wayhington at their weekt on the Av. INVEST YOUR SAVINGS IN OUR SAFEGUARDED 8%tPFIRST MORTGAGES (f% Authnted by Act of Congreoeo The Full Strength of Our Reputation For Safety Im Behind Our Investments Our % First Mogages sss the same wide margin of safety that has characterized our investments for almost half a century. Safety and prompt payment of principal and interest assured. Unusual demands for investment capital to finance necessary building construction enabled us to get 8% for our clients. The present opportunity to secure safe First Mortgages of this high character will not long endure. NOW to the im $. sy Iwtvest yesr fuad.e at $ per cost ever a paedd of yeers sloe ,slresemeete must be umade at a low attractive ylbid. Call or send for list of attractive offerings and booklet. THE F. H. SMITH COMPANY -FOUNDED 1873 815 Fifteenth Street --FOaTT-EKONT YEARS WITHOET LOS TO ANr NVETOR Buy Securities Now Since our advertisement of October 7, entitled "Time to Buy" Stocks and Bonds, selected with judg ment and confidence, many securities have advanced very materially. For instance, Cities Service shares then sold at 187, now.........................194 Kresge then 160, now........................169 Pure Oil then 27, now........................ 35 Houston Oil then 397/, now.................... 76 F. W. Woolworth then 1157/, now............124/4 and there are many other stocks and bonds we could name which show in one short month's time a marked appreciation in value. DID YOU PROFIT? If you had idle funds and in the month past failed to employ them in the purchase of selected securities whose fault is it but yours if you did not make an investment? Every day new customers and new investors come to our office for advice as to the purchase of stocks and bonds and have profited ac cordingly. The increasing number of Washington investors is an interesting evidence of the develop ment in our city's progress, wealth, and prosperity. BUY BONDS NOW! Do you realize the rapidity with which actual ready cash is piling up in the banks of the country? Are you aware the banking world and investment field are almost bare of bonds to meet the increasing accumulation of money? To have idle money is un businesslike and it should be put to work quickly. The scramble for bonds is on because money is get ting in the "idle class." Twenty years ago investors who bought bonds were glad to get 3%1/ per cent interest on their investment. Now 7 to 10 per cent is obtainable, but soon with the further accumulation of money, the demand for investment and inability to employ it freely and quickly, will tend to reduce the rate of interest return and 5 per cent and 6 per cent return will have to satisfy the bond investor. This will mean many bonds purchased now, at today's prices, will sell at a high premium. As one banker aptly put it, "Bonds bought at par today, paying the current rate of interest now obtainable, in less than 10 years' time will sell at an advance of 50 per cent." Buy bonds now and profit accordingly. WE TRADE IN Norths German Lloyd 4%'a Greater Berlin 4's Germa Gen. Electric 4Y.'s Mfannheim 4!' a Krupp 5's Dusseldorf d's German Municipais Essen d'i Hamburg 3's Bremen 4Yz's AND OTHER FOREIGN BONDS. WE WILL SELL 35 V~ed Au* Nsns mo s .11* 1.000 Sinaweed Oil..................... .0 Aew W, E. J Oax ..... ............... . Wi~i Th O s... . 000 lO eneral OIl . . .43 ge pm~ sa~ved65.60 Naitma e ult l 6 inestent Umns.2 0 u ~ *. 0 0 Wte ehar bsyaly . .. . . . L.U rul Osvel . . 1.1 IN emigten Pheeruph . . . . 00 168. 6. heamars. s es .. .86 ~ ~ N 0M Ce, Reetlaatten with 20% dlv. . 1.00 SW gumsbeil....P.p.r........8............PBig Call, Write or Phone Us if Interested in Securities Foreign Bonds or Foreign Exchange BUCK & CO. Listed and Unlisted Securities 312-13 Evans Building Phones M. 8673-3353 , Washington, D. C.