The Washington herald., 1922-09-05
MERCHANTS BANK
SEEKS PERMISSION
TOBECIN BUSINESS
Southeast Section Lacks
Financial Institutions,
Says r. E. HUNT.

Raymond e. HUNT. President of
the Merchants and Farmers Bank.
of Anacostia. giving reasons why
the bank should be allowed to
open. permission for which has been
withheld by Comptroller of the Cur
rency Crissinser. will be sent out
to all stock holders today. A meet
ing is also called, to be held early
next week, to consider the banks
position.
The statement. which has been
prepared by Marion Butler, the
banks attorney, stresses three
points:
1. That -Anacostia is far under
banked.
2. That the organization Of a
bank by local interests should not
be held UP.
3. That the alleged fee to which
the comptroller objected is not a
promotion fee." as IL does not come
out of the capital stock, subscribed
at $40 net par value per share.
Although the hank is equipped in
every detail. including a modern
vault. IL has remained closed be-
cause Of the comptroller's refusal to
grant permission to open and begin
| business.
At the meeting called for next
week, the petition to the comptrol-
Ter will be discussed. A date may
be set for formal presentation Of
petition to the comptroller, But
Ter said yesterday,
The promotion fee" objected to
by the Comptroller Of the Currency
Is declared by Hunt in his state
ment to be only ''an equipment and
expense fund" The statement does
not mention the comptroller at all
but his objections are freely dis
cussed.
HUNT brought out the point that
washington Is far from being over
banked. and in his statement esti-
mates that there Is 500. 0oO, 900 Of
unoanked money among the people
OF the District" He pointed out
that the city has only one bank for
every S.4l5 persons. and cited ex-
amples Of other cities having a
greater number OF such institutions
per capita.
He said Anacostia has a popula
tion OF approximately 2o.e00 people.
with but one bank 10 serve them.
and asserted that even with two
banks 1T would be still under
banked to a greater extent than fl.
now the remainder Of the city Of
Washington"
MISS Helen White, Nichols ave
nue., Congress Heights, has returned
from vermont. where she has been
attending a summer school at the
STATE university. and will soon re-
sumo her work as seventh grade
teacher in the Congress Heights
| school.
Rev. DR.. c. b. Richardson, pastor
OF Congress Heights Baptist Church,
notes unusual activity on the mart
OF Cupid in his neighborhood. He
oniciated at four weddings during
August. which. he claims. in a
record for that section Of the CITY.
Miss Gertrude Kidwell has been
elected president Of the newly
formed Baptist Young PeopIe's
Union Of Congress Heights BAPTIST
Church.
Rev. Fr. Charles " Bart, pastor
OF st. Theresa's Church. Anacostia.
left Monday on his annual retreat
which he will pass at st. Mary's
Seminary. Baltimore. Rev. Joseph v.
Buckley. assistant pastor, will mas,
his annual retreat in the same plac.
next week.
Congress Heights Citizens Asso-
citation plans a dance at Catholic
Hall, Congress Heights, October Q.
to raise funds to support activities
planned for the winter. Among the
plans Is one for an organized effor,
to get better street car service.
Miss Elizabeth Richardson and
Miss Elsie Phillips, 1901 Alabama
| avenue southeast. have rettrned
from New York City, where they
spent their vacations.
Rev. Allen F. Poole, pastor OF
Anacostia NJ. E. Church. announced
plans yesterday for installation of
$500 organ on October l. Tha,
date also will mark completion of
! interior improvements to the church
which have cost about sll, 900. There
will be an all-day meeting in cele-
bration Of the work, which is con.
sidered remarkable considering the
size of the parish.