7 JANUARY 1938, Page 39

GUARANTY TRUST POSITION.

The statement of the condition of the Guaranty Trust Company of New York on December 31st shows total resources and deposits lower than the record figures of a year ago, a necessary reflection of less active business conditions in the

U.S.A. Total resources amount to $1,781,9433938, as compared with $2,086,978,870, and deposits to $1,449,807,513 against 31,744,810,010. TA is satisfactory to see that the undivided profits have made another big advance and amount to $11,690,064, an increase of $2,333,502 on the year. The bank has reduced its holdings of U.S. Government obligations and now holds $540,506,068 against $590,105,249.

J. D. M.