Evening star., 1933-09-09

president of the Bankers Trust Co, in
New York City and now engaged IN
the preparation of a constructive legls-
lative program for banks to be pre-
sented to Congress.
Broader and more informative use
Of newspaper advertising space as part
Of better all-around public relations
policy for banks and investment houses
viii come up for careful discussion at
this conference In fact, public rela-
tions will be the theme of the conven-
ton. Officers of the association say
one aim of the convention will be TO
develop a more cordial feeling on the
part of the public toward banks and
bankers, I'm some quarters bank 1ah-
ures have brought about feeling that
Is none too friendly, officials add.
Nearby Banks Being Reopened.
The last week has seen considerable
progress in the reopening of banks IN
The Fifth Federal Reserve District.
The Broadway Savings Bank in Bal
tfmore. which has been operating on
restricted basis since the bank holiday,
has reopened on a 100 per cent basis,
following reorganization, State Bank
Commissioner Ghinger announced.
Under the terms of the reorganization
plan IS per cent of deposits are I'M
mediately made available for depositors,
the remaining 25 per cent OF their
claims being placed in special guar
anty fund. The institution has de-
posits of approximately Sl,000,000,
guaranty fund of 100000, reserves of
S6O, ,OCO and undivided surplus OF
S35,000.
The Annapolis Banking & Trust Co..
Annapolis. Md, and two branches, at
Brooklyn. Md, and Galesville, Mo,
have reopened on an unrestricted basis,
following reorganization. The plan
under which the trust company was re-
organized provided that each deposltor
receive per cent of his deposits IN
stock of the new bank and 80 per cent
In certificates of beneficial interest The
remaining SIS per cent OF claims be-
comes Immediately available without re-
strictions The reorganized institution
has capital of s150.000, surplus OF $50
600 and total deposits OF about ST.
100000
The Reconstruction Finance Corpora
ton has agreed to purchase S2OO,0OO
Of preferred stock in the Citizens Ma
tibnal Bank of Petersburg, Va, sue
cessor to the First National Bank &
Trust Co., subject to the underwriting
VI dll SQudl Va SOAiAAAANAA eN>~~~>N
BY locar interests.
Easier to Get Gold Hoarders.
Attorney General Cummings states
that the Presidents new executive
order requiring all holders OF gold to
seport to Federal authorities by Sep
tember 18 gives the Justice Depart
tnent a much more effective weapon in
Its anti-hoarding campaign. Mr.. Cum
n1ings explained it was much simpler
process to conduct a criminal proSecu-
tion on the grounds Of failure OF an in
6ividual to submit report lawfully re-
auested by the Federal Government
than a direct prosecution for holding
sold.
The Attorney General said prosecu-
tion for failure to report would follow
closely along the legal lines already
Laid down for court cases involving fall
ure to file income tax returns. He indi-
Gated that as many prosecutions as pos
sit3le would be based on failure to file
gold returns rather than for gold hoard
ing itself.
Latest reports on the departments
campaign to persuade hoarders to give
up their holdings show that 800 known
hoarders are still under investigation
fdr alleged violation of the law. Their
total holdings were estimated at ST.
sIs,553.
=, Heard in Financial District.
National Dairy Products Corporation
has declared the regular quarterly divi-
tthds of 80 cents on the common and
&I75 each on the preferred A and B
stocks, all payable october 2 to stock
csrecord September 49,
fIndustrial Rayon Corporation at Cow
&kton. Va, has declared a dividend OF
"a payable October l to stock Of record
September 18. Three months ago the
d5Sidend was increased to rs cents,
fpem so cents previously.
United States Trust Co.. New York.
hts declared an extra of $40 and the
regular quarterly dividend of SIS, both
Hyable October 2 to stock of record
September 20. A similar extra was
paid a year ago.
Safeway Stores, Inc has declared
the regular quarterly dividends of rs
cents on the common, SITS on the 7
per cent preferred and $150 on the 6
per cent preferred, all payable Septem-
ber 80 to stock of record September l9.
.Ofcials Of the Maryland Tobacco
Growers Association estimated that
Maryland tobacco growers and opera
tors suffered a loss of approximately
$9000,000 from the heavy rain and
Wind storm which swept the Middle
Atlantic States recently. The loss was
Chiefly in damage to unharvested crops