Show scenes andt and persons in the current news 0 ta ka 4 1 1 1 j v V M X CC ft WR 4 1 1 1 WR 1 rk N r 7 v 0 x v r t gat lf t A U 11 ga 4 4 4 ohp LA MR 1 robert A taft son of the late president has filed a suit stilt questioning the authority of the treasury to call gold clause obligations for redemption prior to maturity unless prepared to tn pay in sold gold of the value at the date the security was iss issued zed 2 admiral byrd returning from the ilie antarctic is welcomed at dunedin new zealand 3 types of soldiers lo in Germ germanas germanys anys new army TRENDS FAVORABLE IN STATE BANKING recent figures indicate large increases in deposits and invested funds imp improvement ro in the condition of state banks in almost every respect luring during 1934 is is shown by statistics recently assembled sem bled robert M hanes president wachovia Wa chovie bank and trust company winston salem north carolina points out in an article in ili I lankIng published by the american bankers association cia tion the figures on which this statement is based were gathered by the committee on state bank research of 0 the association from reports furnished b by state bank supervisors throughout the country ever since 1921 the number of state banks has been declining mr hanes says between 1931 and 1934 1034 the decline was rapid figures for december 31 1934 showed that the downward trend has not yet ended but the decline last year was the smallest in twelve years there are now he says about ten thousand state banks which term includes all state chartered institutions with the exception of mutual savings banks the article continues even more significant was the ending ot of the decline of deposits in state banks which had been going on since the collapse of the stock market boom in 1929 in recent years for or which figures are available the drop has been particularly abrupt total deposits in state banks declined from on oil december 31 1931 1031 to on december 31 1933 the record for 1931 1934 shows a recovery to 17 at the year end i significance of increased deposits it is particularly gratifying to note the expansion of deposits since it was their decline which made necessary the liquidation of investments the calling of loans and all the other phenomena which go under the name of deflation and have brought banks so much crid criticism in recent years it is now plain that this was due to efforts of the banks to place themselves in the possession of enough liquid assets to meet the growing demands of depositors tor for the return of a part ot of the money which had been placed on deposit that this is true is borne out by the movement of invested funds of state banks which has paralleled that of deposits thess these invested funds loans and discounts plus investments tor for state banks drop dropped ped from at the end of 1931 to li it at the end of 1933 by december 31 1934 however they had recovered to all of this gain is accounted for by the increase in investments during 1934 the expansion amounting to approximately As for loans and discounts they registered a slight drop again in 1934 but the rate of decline was much smaller than in previous years which in itself is progress whereas the drop in loans and discounts amounted to approximately in 1932 and to approximately in 1933 it was less than in 1934 in another respect the balance sheet figures for december 31 1934 were especially ally impressive bills payable and re discounts of the state banks which at the end of 1932 had reached a depression high of had dropped by the close of last year to the low figure of one must search tile the records as tar far back as 1917 to find bills payable and re discounts of state banks at a lower fig figure gure moreover it is reasonable to expect a further reduction of such borrowings during the current year |