The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1927-07-18
BANK To AID
MORE ALIENS
By RICHARD HATTON


taking, effort on the part Of him
self and the employees and officers
of his institutions. President Joseph
Schiavone, of the International Elk.
change Bank, has worked out
another plan whereby he and his
organization can be of especial help
TO foreign residents of the District
of Columbia and, incidentally, to
many of their relatives remaining
In Europe.
For some time workmen have
been engaged in remodelling the
premises next 20 the International
Exchange Bank, at ATS H st, N. w.
The entire facade of this adjoin-
ing building has been rebuilt Of
white limestone 10 conform to the
handsome front of the main bank
ing office, while the interior has
been reconstructed into a special
series of offices with artistic mosaic
floors and decorative mural fit.
tings.
In this handsome new suite Of
offices, which will be under the
personal direction OF Mr.. Schavone
and manned by carefully selected
clerks and officials, it is the inten-
ton of President Schiavone TO
afford a variety of services to
foreigners who find it inconvenient
to attend to their personal business
during regular banking hours.
President Schiavone said today
that the departments to be installed
In the new building would be
entirely separate from the bank of
which he is the founder and head.
1t nas always been our earnest
desire" he said, ito offer the maxi
mum service to our customrs.
Tc maintain our high standard
Of accommodation we have fitted
up this new suite of offices where
will be looted the foreign money
order and steamship ticket depart
ments.
Permits to re.enter and passports
and other Government department
service will also be made available
to our customers at the new build.
Ing during a longer business day
than offered by the bank at pres
emit
The point was stressed by Presi.
dent Schiavone that the Interna-
tional Exchange Bank is run strictly
as an American banking institu-
ton and will conform to such bust.
ness hours as are maintained by
other banking houses in this city.
Italians and others, however.
requiring the services Of special
depar ;mentS will be taken care of
IN the new offices at hours which
Will be convenient and possible for
them. Such matters as foreign
exchange and steamship tickets
with general information and per-
Eonal service will, OF course, be
entirely separate from the bank.
Beginning August the Interna-
t1onal Exchange Bank will not be
o"n1 IN S'"t'>r"~v right but the new
offices adjoining the bank will be
available for those requiring such
service as they will furnish.
Twelve New York banks have
unbroken dividend records stretch
ing back into pro-Civil War days,
according to Gilbert Elliott & Com
pany, bank and stock specialists,
In an analysis they have pre-
pared on the dividend records of
New York bank and trust COM
panies.
The bankers point out that those
end throughout the prolonged
period of the Civil War and sub.
sequent postwar boom and della
tion period. ror through the nanics
Of 1893. 1908 and 1907. Finally,
they weathered the severe della.
ton following the World War
boom.
The Board Of Governors of the
New York Stock Exchange have
admitted to trading the new issue
of S11 100000 seven per cent cum
ulative preferred stock of the
American Chain Company, Inc,
which was offered for public sub
scri 'inr car'ier in the year by a
banking syndicate comprising Dill
lon. Read d Company. and Homp-
hill, Noyos & Company.
The recent tapering off in new
bond offerings has resulted in a
much easier money market, which
cnndit ~ r. ga
crop movement and seasonal fall
felt Au,r. =, N
hJ~. " in THAR current
Investment review.
The Bonner Steel Company Inc.
for the quarter ended June 80. 1927,
reports net profits from operations
OF $471 OFT After reserves for in.
tereSt r~N S.. ION net incoroo
amounted to $1e1,472.
Ideal growing weather has pre-.
vailed in practically every part of
Canada during the past week. adj
vices received by the Bank of Mon.
treal from its branch offices indi.
cate. Cro"s generally are ma.rng
excellent progress.
General Railway Signal Company
reports that. in view of several large
orders obtained recently. the amount
OF unfinished contracts on its books
as Of July I, 1927. is the largest for
a. similar period in the company's
history.