Changes in principal items of assets and liabilities of banks in the District of Columbia, year ending June 30, 1939-Continued Cash, balances with other banks, including reserve balances, and cash items in process of collection.. +1 Assets and liabilities of banks in the District of Columbia, by classes, June 30, 1939 1 Assets and liabilities of banks in the District of Columbia, by classes, June 30, 1939 Continued Reserves of Nonmember Banks in the District of Columbia The Code of Law for the District of Columbia requires each bank and trust company doing business in the District and not a member of the Federal Reserve system to establish and maintain reserves on the same basis and subject to the same conditions as are prescribed for national banks located in the District of Columbia, except that the reserves are carried with such designated agency or agencies as are approved by the Comptroller of the Currency. The nonmember banks held net demand deposits subject to reserve and time deposits on each of the four calls in the year ending October 31, 1939, averaging from $35,000,000 to $38,500,000. The ratio of reserves required against such deposits was less than 11 percent, while the ratio of reserves held ranged from 16% percent to 20 percent. Figures showing the reserves of nonmember banks appear in the accompanying table: 205927-40 Reserves of nonmember banks in the District of Columbia at date of each call during year ending Oct. 31, 1939 Earnings and Expenses of Banks in the District of Columbia Gross earnings of all active banks in the District of Columbia in the year ending June 30, 1939, were $11,738,000, or $50,000 less than in the previous year. Interest and discount on loans accounted for $5,090,000 and interest and dividends on bonds, stocks, and other securities $3,611,000. Expenses were $86,000 more than in the preceding year, amounting to $8,496,000. Of this $3,912,000 were salaries, wages, and fees, and $1,635,000 interest on deposits and borrowed money. Net earnings were $3,242,000, which were increased by $1,980,000 of recoveries. Recoveries on loans were $209,000, recoveries on bonds, stocks, and other securities $507,000, and profits on securities sold $1,210,000. Losses and depreciation at $2,099,000 were $49,000 less than in the preceding year. Losses on loans were $258,000, and losses on bonds, stocks, and other securities $964,000. Net additions to profits before dividends were $3,123,000, or $497,000 more than in the previous year, and was 6.76 percent of capital funds. Figures of earnings and expenses appear in the accompanying table: |