The Washington times., 1925-11-27
BANKS REPORT
MONEY SENT
ABROAD
Many in D. C. Find Bank Post
Remittances~ Convenient
Christmas Gifts
By RICHARD HATrON

k6Y RECE1At6O
Local banks report the usual
large number of requests for foreign
exchange or for other means of re-
hitting money abroad which an
nually precedes Christmas. Many
residents of the District of Column
bia who have relatives or friends
abroad find money most accept
able Christmas present, while those
who have families still in 1.-The old
country" can send no more worth
whilee gifts.
Bank are Urging immediate for
warding of Christmas money in
order that the gifts may arrive in
time. Practically all Washington
banks having foreign connections
are now Issuing bank post remit
tances. a most convenient form, as
1t is the most easily negotiated of
any of the many remittance papers.
The bank here gives a receipt to
the person desiring to have money
paid abroad and then sends the
necessary instructions to its COR
respondent bank located nearest to
the place where payment is de-
sired.
When the order from the Wash
ington bank reaches it's destination
l.
eign country puts the amount OF
cash called for in the currency of
the country in registered letter
and mails it to the payee who signs
q postal receipt which is ultimately
returned to the bank of issue in
washington. The local bank then
notifies the purchaser that payment
has been made.
Thousands OF these bank post
remittances are forwarded from
washington every year, usually in
small amounts, as well as to Asia
and there is hardly a civilized coun-
try in the world where payment
cannot instantly be had upon such
an order.
Preparations for handling Christ
mas savings clubs are being made
in most hanks carrying this form
o. account and the more than
$4s000.000 which will shortly be
disbnrsed by Washington banks
Is expected to be greatly exceeded
next year.
The Washington Loan and Trust
Company is adding to its banking
room equipment conveniently
located department which will be-
devoted exclusively to the hand.
ling of Christmas savings accounts.
This department will be in charge
of an experienced clerk and win
be one more link in the chain of
service rendered by this institu-
ton.
The National Savings and Trust
Company, which is completing one
Of the largest and .handsomest
banking rooms in the country, has
q special and commodious section
for the handling of its newly
partment. Several other banks
are making preparations to enter
the Christmas Savings Club field.
President e. s. Wolfe, of the
First National Bank of Bridgeport,
Conn, is in Washington for a few
DAYS. Mrs. Wolfe was formerly
connected with the District Ma
tional Bank here and is being
greeted by many friends in the
financial district.
The coming issue of Trust Com
panies. financial magazine Of wide
circulation. viii contain an article
On "Revocable Trusts and Taxa
ton" bv w. H. Baden. assistant
trust officer of the Washington
Loan and Trust Company. Mr..
Baden has a wide reputation as a
speaker and writer upon trust sub
5ects.
President John R. Waller. OF the
International Bank. has been in New
York for several days on business.
He will return Saturday.
The Central Savings Bank shows
IN Increase Of deposits since the
last call statement Of a fraction over
80 per cent and reports a steady
gain in the number of accounts. The
bank has already opened its Christ
mas savings club.