Evening star., 1932-07-17
REGAIN CONFIDENCE
IN SAVINGS BANK
Depositors Quit Line at North
east Institution-NeW
Accounts Opened.

Following a number of Withdrawals
curing the past two days at the North
east Savings Bank, Eighth and II
streets, George F. Hoover, executive vice
resident. said last night he had noted
o trend to re-establishment of conf
csence i. the SoundnesS, strength and
safety of the bank when several people
left the line and number OF new
accounts were opened. The bank will
be ready for business as usual Mon
day morning, he announced.
This bank is sound safe, in posi-
ton to pay everybody and intends to
do It," declared Mr. Hoover. There
Is no reason whatever Why people
should be unduly disturbed at rumors
We will be open as usual for busi-
ness Monday morning, and be ao!e 10
take care of everybody" The bank
was open during the regular Saturday
evening hours last night.
Officers Are Unchanged.
A truckload of cash was delivered
TO the bank yesterday from the Treasury
Department. Just before the regular
closing hour at noon yesterday Mr..
Hoover explained to assembled deposit
the board of directors or the officers
of the bank. He said the institution
has the full confidence Of the Treas
ury Department and large downtown
bankers
The Northeast Savings Bank was
founded 16 years ago with capitallza-
ton of 100000 It's total resources are
81 100000. Sixty days ago, Mr.. Hoo
yer said, it was examined by the Treas
ury Department and found to be in
excellent condition.
Meantime, from the Mount Vernon
Savings Bank, at Ninth street and
Massachusetts avenue, came an official
statement last night over the signature
OF Frank w. Lee, president, offering
$500 reward "for information leading to
the arrest and conviction of the person
or persons spreading damaging rumors
concerning the Mount Vernon Savings
Bank"
"Never in Better Condition"
"a malicious and unfounded rumor
has been spread througout the city"
said his statement. land particularly
in some Of the Government depart
ments, concerning the stability of this
institution. which has naturally caused
some uneasiness to some of our deposit
tors, especially those who have Christ
We wish to assure our depositors in
particular. and the public at large, that
the Mount Vernon Savings Bank was
never in a better financial position
than at the present time. We are pre-
pared to meet every obligation and our
depositOrS need not feel the slightest
concern for the safety of their funds
held in their name in this bank.
We strongly urge our depositors not
TO withdraw their savings. They are
much safer In our bank than they will
be carried on the person. or put away
for supposedly safekeeping about the
house.
The Mount Vernon Savings Bank is
as solid and sound as the Rock of Glib
raltar. We have, can, and will meet
all legitimate demands made upon us.
All we can ask is that those We have
served so well in the past continue
to have confidence in our institution.
We pledge our word and honor that
such confidence will not be misplaced.
Can Pay All Obligations.
: do not listen to idle rilmors. If in
formation is wanted concerning our in
stitution, its officers will gladly supply
1t on request. Again We declare that
the Mount Vernon Savings Bank is
sound. liquid. and in position to paw
on demand all of its obligations in full
We trust this statement will reaSsure
those of our depositors who may have
become disturbed over the malicious ru-
mors heretofore referred to.
To those who have already Withdrawn
Christmas and vacation savings. we sug-
gest they return them to our bank,
where they will be safe and available
when actually needed for the purpose
intended by the deDOSitOr when the ac-
count was opened
I'm closing, we desire to say that not
q single large depositor has Withdrawn
a dollar from our bank except that
needed in the ordinary conduct of bust
ness
We wish to take this opportunity to
express our sincere appreciation to these
depositors for the support given and the
confidence displayed"