Evening star., 1933-04-29
Departmental and North
Capitol Savings Will
Distribute Funds.
BANK OF BRIGHTWOOD
SOON TO MAKE PAYMENT
Treasury Issues Statement on D. c.
Situation, Withholding
Definite Plans.

Two lnSolvent washington banks will
distribute payments Monday aggregat-
ing s285,o00 to approximately 10000
depositors. it was announced today.
A third institution in receivership
the Bank Of Brightwood, at Georgia
and Colorado avenues, also will make a
payment shortly, probably within 30
days, 1t was learned. The payment
the second since the bank became in
solvent last July, will approximate as
per cent.
The Departmental Bank, 1925 Penn
sylvania avenue, making its second pay
ment, will distribute a 20 per cent
"dividend' amounting to s16O,O0O. Ap-
proximately 1000 depositors will be af-
fected by the payment, which brings
the total paid out since the bank went
in receivership last July to s3S5,oO0. or
so per cent Of total deposits
The North Capitol Savings Bank. at
North Capitol and H streets, will make
first payment of 1912 cents on the
dollar, or $l25,000 to 5000 depositors
whose claims have been approved, ac-
cording to an announcement by Re
ceiver John S. Bryan. Other pay
ments are expected to be made as ad-
ditional funds are accumulated from
liquidation of assets.
Bank Open in EVENING"
Receiver w. B. Altman of the De-
partmental Bank announced his insti-
tuition would be open for the con-
venience Of Government employees un-
til 9 pm. on the evenings of Monday,
Tuesday and Wednesday. Thereafter
the regular hours, of from $50 to S,
will be observed, except on Saturday
when the bank will close at l pm
No change in banking hours was an
nounced by Receiver Bryan of the
North Capitol Bank.
The Departmental Banks first pay
ment was made last February 10, when
checks representing 80 per cent of total
approved claims we're distributed. On
that date, the Bank of Brightwood also
made its first payment, representing
about 20 per cent Of the amount on de-
post.
The Treasury Department issued a
general statement last night showing
the amount of deposits in the l3 banks
in the hands Of conservators here to
be about 1872 per cent of the total
deposits as of December 81. 1882. The
statement gave no intimation, however.
as to when depositors may expect to
receive any of their funds or how much.
The Treasury is known to be working
on plans to reopen these banks, but
no official intimation as to what they
will be has been forthcoming.
A campaign was launched today by
the Industrial Savings Bank. one of the
13, and group Of citizens to save this
only colored institution of the city and
make it a national bank. The cam
paign takes the form of city-wide
to sell 10000 shares OF capt.
tai stock in the bank at s25 share
$50 of which goes to par value of the
stock. with the other $5 to surplus. This
last night at the Garnett Pat
terson Junior High School, presided
over by Jesse W. Lewis, head Of the
of commerce and finance
of Howard University. Speakers in
cluded Elder Michaux, Rev. E. L. Har-
rison, Marie Madre Marshall. William
L. Stevenson, Rev w. H. Jernigan, Jesse
H. Mitchell, w. H. c. Brown, president
and conservator Of the bank, and j. A.
Jackson Of the Department Of Com
merce.
Cummings' Statement.
The official statement from the Treas
ury was issued over the name of Walter
j. Cummings. executive assistant to
the Secretary of the Treasury. who has
been working on the problem OF re-
opening banks.
It read in full as follows:
"Only 121a per cent of total de-
pOsitS of District hanks at time of last
reporting date-December 81, 1932-are
servators.
The last reports Of all District Of
Columbia banks as of December 81,
1882, showed total deposits of $685.
100000.
Reports Of examinations of the 13
District banks now in hands of con-
serVators showed total deposits of ap-
proximately $32, ,00OO 900. OF this amount.
approximately $2,500,0O0 are public
funds which are secured by bonds
pledged by the banks concerned. The
balance of $29 500 900 of total deposits
with District banks in hands of con-
servators, represents 1912 per cent of all
deposits in District banks at date of
last report, December 81, 1882.
"The above figures do not include
banks which were in the hands Of re-
ceivers prior to the bank holiday.
When consideration is given to the
general banking situation in the Dis
trict of Columbia attention is directed
to the fact that only very small por-
ton of its entire banking resources is
actually involved in the banks which
were not licensed since the bank holi-
|Contin,Ied IN pace Column a.