Evening star., 1932-09-24
Bankers Urge Unemployment Aid.

Bankers Urge Unemployment Aid.
Washington bankers have come for
ward with suggestion which, II
adopted, they believe will prove of great
value in helping unemployed people in
the city. The idea relates to jury
service. the suggestion being that local
juries should be made up of high-type
residents who are temporarily out OF
work.
Under the present method, bankers,
business men and others who have
large salaries, as well as important
positions, are drawn for jury DUTY.
When these men serve in the jury box,
they are paid SO a day which they do
not need at all. They also lose time
which they begrudge.
There are any number Of residents
of Washington, bankers observe, who
for months. The So day would be
of the greatesU value TO them They
are experienced. clear-minded citizens,
in every way competent and desirable
for jury duty. Their selection for such
service would be an important factor
in helping bridge over present Difficult
tiss bankers believe.
While freely discussed among bankers,
the District Bankers Association has
not taken the matter up officially. 1t
is felt that such a move should be
taken by the chairman OF the Districts
Committee on Unemployment. But
President c. H. Pope ard his associates
ere enthusiastic over the proposal and
anxious to see its adoption.
Eavage Finds Russia Contented.
Francis NJ. Savage, retired Washing
ton banker. is home from a long tour
which included an extended visit in
Russia. Mr.. Savage says that the Rus
sian people apparently have no desire
for a change in government, although
he believes the nation will gradually
change to a progressive capltallstlc
country The Russians get short of
food at times, but seem to think the
supplies will be greater in the future
than they have been in the past.
However. Mr.. Savage adds. there may,
of course, be an explosion in Russia by
the peasants refusing to raise and sup
, ply products to the government. AS q
matter of fact. says Mr.. Savage, "unex-
oelled and undeveloped resources and
the physical man strength of Russia
make the nation more to be feared as a
competitor than as political expert
ment."
Mr.. Savage found France unusually
free from political and economic 'trou-
bIeS. but thinks Germany is in bad
shape politically. In conclusion. the
former banker said the indication that
production has outrun consumption ca
pacity is the most disturbing feature
of the word depression.
While away from Washington Mr.
Savage was made a colonel on the staff
of the Governor of his native State,
Kentucky.
Official Lauds Savings Banks
The past gear has richly demonstrat-
ed the effectiveness of cooperation, as
it has demonstrated the fact that no
single banking institution can be a
power unto itself alone, but must realize
the interdependence Of all, stated Henry
r. Kinsey, president of the Savings
Bank Association of New York, at the
thirty-ninth annual convention.
The savings banks have proved to be
tower of strength during these trying
times and have proved their vital i'm
portance as a corner stone of our credit
structure, asserted Mr.. Kinsey.
1--WE cannot fail to be impressed when
we stop to consider that instead of
suffering any losses, savings bank de-
positors in this State had on deposit
SGT ,624, 1892 more on September 1 this
year than year ago and that the total
sum of their backlog of savings is
$5,223,550258, he added.
.'Get-rich-quick schemes by way OF
speculation fade into dlsrepute when
comparison is made between the action
Of savings bank deposits and any other
form of investment during the past
three years
Broker Offices to Open Later.
All the New York Stock Exchange
Offices IN Washington go on the Winter
schedule next Monday opening at 10
am instead of 9. and closing at p m
instead of 2. The Washington Stock
Exchange will also meet daily at Ills
am. instead of 10:15, as has been
the case during the Summer months
Many brokers prefer the Summer
schedule and wish it would be adopted
the year round They would rather
earlier. But the New York Stock Ex-
change and all the other big markets
have been on the 10 o'clock schedule
in the Winter for so many years that
it Is not likely to be changed.
The real high spot in the life of the
brokers, however, is not the schedule
of working hours, but the fact that the
markets have at last come to life ano
business has advanced by leaps and
bounds.
Cash and Stock Dividends Voted.
Incorporated Investors has declared
the regular quarterly dividend of 2a
cents a share and stock dividend
of 212 per cent, according to announce
ment by Hobson &, Co., in the Shore
ham Building. The dividends will be
sent out October Is. A substantial
gain in business is also noted.