Evening star., 1923-12-06
new BANK THROWN
OPEN TO PUBLIC
International Exchange Has
Many Guests-Trading on
Local Exchange.

The elaborate new home Of Wash
ington's youngest bank, the Interna-
tional Exchange, located at 5th and II
| streets northwest. was thrown open TO
| the public today.
At 9 o'clock this morning friends
and customers of the institution be-
gan calling to inspect the new build
ing and to congratulate Joseph Schia-
vone. its founder and president.
The international Exchange Bank
| was organized in August. 1921, with
deposits of $4,000, Today its de-
posits are more than half million.
Most of its accounts are savings. a
large number of small accounts being
the distinguishing feature of the
bank. which counts among its Gus
toners almost the entire Italian pop
ulation of WASHINGTON.
With the space afforded in the new
building ii Is expected soon to add a
real estate department and also d
trust division. At present 1t special
ICES in foreign service. sending drafts
direct to foreign countries. where Il
maintains accounts in most of the
big banks of France and Italy. 1t is
a member of the American Bankers
Association, the District Bankers AS
sociation and an associate member OF
the Washington Clearing House As
sociation.
Announcement was made today that
Chevalter Fernando Cuniberti, for
merly with the Italian embassy here
during the war. will be associated
with the bank as a director and an
active vice president. Mr.. Cunfberti
has spent some time in Italy since the
war and will probably go 10 italy
this summer to establish branch OF
this bank in Rome. Other vice presi-
dents are F. l. Neubeck. native attor-
ney and DR.. Milton H. Prosperi.
During the day Mr.. Schtavone
served as host 70 Senator Edwards
Arizona, Chief Justice Mccoy. former
Senator MARITIME, Mayor Donnelly OF
Trenton. y. j., and many others who
knew him in his work during the war
and with ex-senator Martine. Many
prominent Italians from Pennsyl-
vania, New Jersey AID New York
paid their respects, as did a special
delegation from New Jersey, headed
by Mayor Donnelly. which arrived
yesterday.
This evening at 6 o'clock the Italian
ambassador. Prince Caetani. and his
staff will be received at the bank by
its officers and by representatives OF
all of the Italian lodges in the city.
Chrfstmax Savings Plan.
A campaign to increase it's Christ
mas savings deposits, unique locally,
is being inaugIrated by the Franklin
National Bank
The plan consists of cash awards
totaling s1,25o, which may be con-
tested for by paid-up memberships in
next years club. The contestants are
asked to submit an essay or slogan
of not more than fifty words on
thrift.
The sum TO be awarded is split up
in many substantial parts which en-
hsnces the attractiveness of the con
test.
Trading on Local Exchange.
National Bank of Washington stock
was traded in on the Washington
Stock Exchange for the first time
this year today, $50 shares selling at
200. This cessation of inactivity thus
featured the session.
Mergenthaler Linotype was slightly
firmer at 1874 and 1927. but Cap
ital Traction was pegged at eS14
Bonds were listless. Gas 6s brought
par and an eighth, with Capital Trac-
tion IS unchanged at "a. Railway As
sold at 69k.
Treasury to Get $500 900 ,O0O.
The government expects to receive
about $500 o00, 900 in income tax pay
ments on December Is On the same
date 1t will have to pay out in inter-
est and raturities approximately
S470. 1000. 900.
If money continues easy and liberty
bonds cross par in the near future
the government may undertake some
long term financing to meet its OBJ
legations.