Evening star., 1933-11-11
COMMERCIAL BANK
TOPAY 3OPER CENT
Receiver Starts Payments
Monday on Claims Proved
Up to November.

Robert C.. Baldwin, receiver for tht
Commercial National Bank, announced
today that payment of the second divi'
dend, one of 80 per cent, will start
Monday at 9 am.
This will be a payment on claim.
proved up to the end of October. Thu
bank had previously paid a dividend
of 20 per cent. so that this second
payment will give deposi5ors half theil
money in the bank when it closed last
February.
Mr.. Baldwin's statement follows:
Following an announcement by j. F.
T. O'Connor. controller of the currency
for the payment of a second dividend OF
80 per cent to the creditors of the Com
mercial National Bank of Washington
on Monday, November l3, Robert, c.
Baldwin, receiver. submits the follow
ing plans for payment on that date:
THE doors of the bank will be open
frcm 9 am. to pm. daily, except Sat-
urday. when hours from am. to pm
will apply
"All creditors who have received
their first dividend checks must pro-
i
VINO have not received their first divi-
dend checks must produce the orange
colored receipts issued to them when
claims were proven. No dividend
checks will be delivered unless the re-
ceiver's certificate is presented for in
dorsement of dividend thereon or
orange-coiored receipt is surrendered
A receipt prepared by the receiver for
each dividend check is to be signed at
the bank windows.
Receivers certificates will be de-
| livered, with dividend checks. to credi-
TORS Surrendering orange colored re-
ceiptS.
Administrators, executors, guardians
receivers or trustees must furnish an
up>to-date copy of appointment.
'All available windows at the bank
Will be open, but it is requested, to avoio
congestion, that those who can con.
veniently do so postpone claiming divi-
dends for several days. as the checks
can be obtained at any time suited tc
their convenience.
Distribution of checks at this time
VIII include all claims proven through
October 81.
Payment will be made by checks OF
the controller of the currency only.
Further filing of claims will be post
poned until after November 27.'
Despite reports in the financial dis
trict that the Industrial Savings Bank
the only colored bank in the city
would be thrown into the hands of q
receiver, Gibbs Lyons, deputy con.
troller Of the currency. today an
nounced that the Treasury is making
every effort to find a way for this
bank to be reorganized.
Examiners Study Situation.
Mr.. Lyons said a careful study hst
been made of the status of the insti-
tuition and that two bank examiners
in the reorganization division of the
controllers office had been authorized
to study the situation.
A conference was held this morning
in this oil ision between Treasury Off
! cials and a delegation from the bank
headed by lis president, w. H. C. Brown
Who is also the conservator.
Mr.. Lyons explained that no decision
has been reached to place the bank in
the hands OF receiver. but that nego-
llatl0nS are now very actively under
way with a view to seeing what can be
done
The. Industrial Savings Bank was
/ placed in the hands of a conservator al
! the end Of the banking holiday March
/ Is, when ii IVES refused a license TO re-
| open. 1t had previously absorbed an
/ Other cOlored hank