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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Jul 11, 1924
Page
2
A bank report shows rising earnings and stronger surplus, with notes on six months ending around June 1964. The document lists securities, trust, savings banks, and treasury certificates among assets and income, highlighting improved profitability and capital positions.
A chaotic OCR page shows mixed stock quotes and commodity data including industrials, oil, copper, and coal names with scattered percentages and figures. Market tones hint at declines in wheat and corn with government crop reports influencing prices, while cash markets and regional notes circulate across cities like New York and New Orleans.
Luzerne County Gas and Electric Corporation plans a new issue of 8 6 per cent mortgage bonds due 454 with a 61 percent yield, guaranteed by American Gas, to finance electric and gas properties in Wilkes-Barre Hazleton and surrounding areas. Bond security includes a first mortgage on properties valued over 5.9 million plus a new power plant and lines, with total property value projected above 13.7 million after additions. Net earnings for the twelve months ended June 30 1924 were 1 910 465.
In New York July trade, cotton advanced at open then eased on realizing and equational selling, aided by reports of favorable rains in the Southwest. Prices closed modestly lower with July around 29.40 cents, futures showing renewed support from spot houses amid showers reducing belt dryness. Exports today reached 4.95 bales, with total season activity near 66,453 bales. Port activity and futures listed for July through March reflect mixed demand and weather-driven sentiment in the belt.
The Washington Post reports mixed action across bond sectors with utilities bonds buoyant on steady demand while industrials show weakness. Brazil and Hungary loans attract attention as Bolivian turmoil unsettles Latin American debt, and Liberty bonds trade fractionally lower amid large blocks Sothe demand. Livestock prices rise for fat cattle and hogs with steady receipts. stock listings show mixed performances across key Chicago firms.
The document presents the report of condition for Fidelity Savings Company, Inc. of Washington District of Columbia as of June 4, 1924, detailing assets including banking house, furniture, real estate, cash items, and totals, alongside liabilities such as capital stock, profits, interest reserves, time deposits, certificates, and borrowings. It includes signatures of Wm Clark Taylor, secretary and manager, and a notary, confirming the accuracy to the best knowledge of officers.
The Federal Reserve system reports combined reserves and mobilities across twelve banks as of Wednesday. Details include gold holdings, U.S. Treasury gold redemption funds, nongold reserves, and various earning assets totaling reserves of 4509.604? The report lists cash, bills discounted, government securities, and other assets, with notes on actual currency in circulation and deposits.
Financial statements from Washington show Merchants Bank and Trust Company with assets including cash in vault deposits with national and state banks and notes. The report lists loans and discounts including acceptances of other banks and foreign drafts, government securities, real estate, and bank premises, with detailed reserves and liabilities to Federal Reserve Bank, other banks, and the public.
Fragmentary bank ledger details assets and liabilities including overdrafts, government securities, real estate, cash in vault, amounts due from state banks, reserves, and various deposits. Mentions certificates of deposit, trust fund items, and treasurer clerks. Source reads like a bank balance sheet page with numerous numeric entries and ledger labels.
A scanned bank report from Liberty National Bank at Washington shows a detailed balance sheet and deposits. It lists loans overdrafts securities and reserves plus national and state deposits, including demand and time deposits, certificates of deposit and postal savings deposits.
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