Evening star., 1933-10-10
CAPITAL IS AHEAD
IN BANK OPENINGS
Freeing of Tied-Up Deposits
Progresses Faster Than
Average for U. S. .
BY HAROLD ROGERS.

Reopening Of banks here in the Dis
trict Of Columbia has been at rate
ahead of the average for the Nation,
according to statement by Controller
Of the Currency J. F. T. o'Connor.
Whereas 46.2 per cent of unlicensed
national banks throughout the country
had been either licensed, chartered or
liquidated, between March 16 and Sep
tember 80, here in the National Capital
the comparable percentage is 692 per
cent.
Furthermore, the showing Is some
what more advantageous for the Dis
trict Of Columbia by reason Of the fact
that for the country, as a whole, only
port, but for the District all banks are
considered in the category of national
institutions, since they come directly
under the controllers jurisdiction.
The record here. according to the
controllers latest report, shows that on
March Is, 20 banks were licensed and
13 were refused licenses. On September
80, 9 Of these had been licensed, char
tered or placed in liquidation, leaving 4
banks still unlicensed, but the figures
show that plans for these four banks
still are under consideration.
Completed for Nine.
OF the nine banks whose disposition
had been concluded by September !,
Chevy Chase Savings Bank became a
branch of Riggs National Bank, the
Park Savings Bank has been placed in
the hands Of a receiver and the seven
others have joined in a merger to form
the new Hamilton National Bank. They
are: The District National Bank, the
Washington Savings Bank, Potomac
Savings Bank, Federal-American Ma
tional Bank & Trust Co., Northeast
Savings Bank, Woodbridge -Langdon Saw
ings g. Commercial Bank and the Sew
enth Street Savings Bank.
Another institution. the United States
Savings Bank. had joined the merger,
but was dropped during litigation
brought by its president. Col. Wade H.
Cooper The Treasury and Cooper now
are in the midst Of a court battle over
the future of the bank. The other three
banks whose plans are under considera-
ton are: The Mount Vernon Savings
Bank, which is working on further de-
tails Of progrma to merge into the
licensed Washington Mechanics Saw
ings Bank: the Franklin National Bank
and the Industrial Savings Bank
In the nearby States of Maryland and
Virginia the figures show the following
record:
Maryland-Banks licensed March IS,
%: unlicensed March 16, 40; licensed.
chartered or placed in liquidation by
September 30. %; unlicensed Septem
Der 30, II; plans approved 8; disap-
proved 2; under consideration. 2.
Virginia-Banks licensed March IS,
ia; unlicensed March 16. IS. licensed.
chartered or placed in liquidation by
September 80. l6; unlicensed the same
date. 9: plans approved, 5; disapproved,
2: under consideration. 2.
4.518 Reopened in United States.
For the country as a whole. on March
Is total of 4,513 national banks had
been licensed and were reopened. The
number of unlicensed national banks
the next day, March 16 was ! 1.446, and
by September 30, 668 of these had been
licensed, chartered or liquidated. while
778 we're unlicensed. The 778 unlicensed
national banks as of the close of last
month were further segregated as fol-
lows: Plans had been approved for the
reorganization of 376, plans had been
under consideration and there were no
plans for 81. 1T is likely" said the
controller, that in the future reorgan-
ization plans may be approved for many
of those disapproved, under considera-
ton or without plans"
Deposits in the 778 national banks
which were unlicensed on September 80
tctaled $671 .031 600 frozen and $50
668 900 unrestricted The 376 national
institutions whose reorganization plans
had been approved by the end of Sep
tember showed frozen deposits of
S3a8. .735 900 and unrestricted deposits
of S3l Isl 900: the 271 banks with dis
approved plans had S122 1926 600 frozen
and S9.171 900 unrestricted deposits;
the 104 banks with plans under consid-
Grafton had s110.562.000 frozen and
s3.956. 900 unrestricted deposits. and the
81 national banks with no plans had
$50. .408, 900 frozen and 81 5000 un-
restricted deposits