The Washington herald., 1921-07-19
INTERNATIONAL
EXCHANGE BANK
eTOOPEN AUGUST |
Institution With $500, 1000
Capital, Located at Fifth
And II SITS. N. w.
SCHIAVONE is HEAD
Other Prominent Local Ital-
ians on Directorate-D. c.
Securities Dull.

The new International Exchange
Bank at Fifth and II. streets north
west, will open its doors for busi-
ness at 8 a. m. Monday, August 1,
according to announcement made
yesterday. Joseph schiavone, local
banker. is president, and Cav. DR..
salvatore Floria. royal Italian con-
sui, is vice president, while the di-
rectorate includes the following
business men: Carlo Facchina, gen.
eraI manager of the National Mo-
sale Company: Raffaele Francione.
who has large business interests in
Washington, Baltimore and Rich
mond: r. A Guglielmo, prominent
in real estate circles in Washing
ton, Baltimore and Richmond; John
yaccaro, local merchant; T. A.
GULL. manager of the Commercial
Printing Company, and Alfonso
Tana. well known In local Italian
fraternities. The bank Is incor-
porated with a capital of 100000,
is under government supervision.
and. IL is stated. practically all OF
the stock has been sold without any
solicitation.
About eight years ago, while edi-
tor of an Italian newspaper in Tren-
ton. ". j., Mr.. Schiavcne was per-
suaded by former Senator James
Ia MARITIME. OF New Jersey, to ac-
cept a position as assistant secre-
tary to the Senator to aid the gov
ernment in the immigration policy.
possessing as he did a complete
knowledge of the situation. Shortly
thereafter, he opened a small officc
at his home to assist neighbors and
friends in forwarding money to
their relatives in Italy. AS this bus
mess prospered he became agent
for steamship lines running to italy
and then for lines running to all
corners of the earth. The business
soon outgrew his home Office and in
1918 st. Joseph's Hall Building was
purchased and remodeled into a
modern banking house. By 1890
leading banks of Rome, Naples,
Paris. Berlin and Athens carried
large deposits with him and he was
in position to draw on most banks
in Europe Mr.. Schiavone has also
conducted a campaign of Ameri-
canism among Washington Italians
Vice President Floria is a well
known practicing physician II
washington as well as representing
the Kingdom of italy here as con-
sui.
The International Exchange BanH
will maintain all of the financial
connections already established by
it's president, and will Immediately
open up others. It will extend it,
savings and steamship ticket de-
partments, and will accept deposits
subject to check on its opening day
Local Securities.
Bonds were responsible for all
the activity registered in yester-
days dull session on the local ex-
change, Railway per cent bonds
and Potomac Electric Consolidated
IS being the only issues traded in
Sales totaling $1,000 Of the former
were made at 61A. while $1,000 OF
the latter sold at IS.
Can funds were again offered Al
Z per cent asked with 6 per cent
a. the maximum bid.
g. Personals.
Thomas Grant, manager of the
branch ONCE Of the Fidelity and De.
posit Company of Maryland, was II
Baltimore yesterday on business fol
his firm
Charles T. Bell. president of the
American Security and Trust Com.
pany, accompanied by Mrs Bell, will
shortly take a six weeks vacation
to the Pacific Coast where Mr.. Bel
plans to indulge in extensive fish
ing.
w. T. Galliher, president of the
American National Bank, has re.