Evening star., 1933-07-08
HAMILTON ACTS
TO SPEED OPENING
Conservation Mails Guide to
Depositors and Asks
Early Return.

Several documents will soon go for
ward to the $4,000 depositors in the
eight member banks of the Hamilton
National Bank merger, it was learned
today as the first official copies Of forms
approved by the Treasury Department
reached conseIvatorS.
Full directions are contained in the
various letters and forms to guide de-
positors.
The communication will be addressed
bv the ConServator to the depositOr, and
with this letter will go several in
closures, including an official proof of
claim to be sworn to before notary
public, a letter addressed to the con-
servator for the depositor'S signature,
authorizing transfer of accounts to the
Hamilton Bank; letter for the sigma
ture of the depositor addressed to the
Hamilton National Bank authorizing the
opening of new account, and sigma
ture cards to carry the official signature
of the depositor for the records of the
Hamilton Bank.
Two Different Forms.
The letter from the depositor to the
Hamilton Bank is set up in two diff
ferent forms, one for the use of those
who have subscribed for stock in the
Hamilton Bank, expecting the price of
the stock to be subtracted from their
deposit. and the other for the use of
depositors who have not subscribed for
Hamilton Bank stock. In case a de-
positor has subscribed for stock up to
10 per cent of his total deposit, he will
then receive on his credit 40 per cent
of his total deposit. but if he did not
subscribe for stock in the Hamilton
Bank he win receive on credit in the
Hamilton so cents on the dollar.
1t is further explained by the con-
ServatOr to the depoSltor as to what will
happen in case he does not want TO do
business with the Hamilton Bank. If
you do not wish the amount of your
payment transferred to the new bank
to either checking or savings account
as above explained" says the letter
from the conservator to the iepositOr,
you may obtain the same from me, as
conservatoT. on or after the day the
Hamilton National Bank publicly opens
for business"
Opening May Be Delayed.
While it has been unoff1cially pre-
dicted that the opening date of the new
bank would be about August /, it 1p-
peared today there will be so much to
be done before the bank can open that
unless depositors speed up their part
OF the agreement, the opening date may
be delayed.
The proof of claim is a quite COM
prehensive official document of full
page. On it will be listed the amount
which the conServator finds the de-
positor has to his credit in the old
bank. The amount Of this claim, how
ever, is to be verified by the de-
positor. and if there is any difference
of opinion between the conservator and
the depositor on the amount the de-
positor is asked to call at the bank
and clear up the matter il person
The depositor is asked to state wheth-
er he wishes the money made available
in the Hamilton Bank to be set
up as a checking or a savings ac-
count, but the depositor is advised that
if he has subscribed to stock in the
Hamilton and intends to split his divi-
dend into both checking and savings
deposits, he should be careful to leave
enough in the checking account to take
care of the cost of the stock for which
ne has subscribed.
Asked TO Execute All Letters.
The conservator asks the depositor
to execute all the letters and forms as
soon as possible and either to mail them
to the conservator or bring them in
personally At the Northeast Savings
Rank, one of the members of the Ham
ilton merger, George F. Hoover. vice
president and conservator, expressed the
hope that depositors will leave their
money on deposit in all branches of the
Hamilton and continue to do business
with the new bank. He emphasized
that the new Hamilton will be 100
per cent sound and liquid bank organ
lied by the Government for the protec-
ton of the depositor. He feels the de-
positors will be satisfied not only to
leave their accounts on deposit but will
add to them.
Meantime, at the Franklin National
Bank the new board of directors was
being selected and it was understood
this new board will meet soon to select
officers for recommendation to the
Treasury Department. The personnel
to head this bank must be approved by
the Treasury Department.