Evening star., 1933-06-16
Procedure Will Be Uniform
Throughout Seven Men,
Der Institutions.
STOCK-SELLING CAMPAIGN
HELD ABOVE $1,10O,000
Park Savings Movement Goes For
ward With Naming of Direc-
tors Committee.

Depositors in member banks of the
new Hamilton National Bank merger
will receive interest on their interest,"
bearing deposits up to March S, it was
learned today.
Decision has been reached to make
this date uniform throughout the seven
banks which are members of the new
proposed merger. Already clerks in the
various banks have begun to compute
this interest.
No interest will be paid on any ac-
counts in any Of the Hamilton member
banks between the date Of March S
Hamilton, 1t was explained During the
interim, it was pointed out, the banks
have been on an enforced restricted
basis, beginning with the Presidents
bank holiday, and therefore no interest
would accrue for that period.
Regulations Received.
Conservators of all unlicensed banks
in the city were understood today to
have received extensive regulations from
the Treasury Department concerning
the operation of offsets. This Is an
important development to people who
are both depositors and debtors to the
same bank. Details of the offset regu-
servators were making careful study
of the voluminous document and will
now place these new rules and regu-
lations into operation. Generally speak
ing. the offset Is practice by which
the bank credits debtors with what
he has on deposit. But there are said
to be the proverbial 1000 and l"
varieties of offsets requiring many dif-
ferent technical decisions.
The campaign to sell 81 ,z50. 900 worth
of stock In the Hamilton merger pro-
ceeded today with every one Of the
seven member banks pushing the sale.
Exact figures have not been made pub
lie today, but it was understood that
the figure was somewhere over the
$1,100. 900 mark.
The movement to re-establish q new
bank to replace the Park Savings Bank
went forward last night, with appoint
ment of committee Of directors Of the
bank to be headed by Wade H. Atkin-
son. This committee was authorized to
investigate all possibilities to do WI
they can for the depositors. The c.
mittee includes, in addition to DR..
kinson, Charles w. Bolgiano, c.
Murray, Z. r. Goodman and N. Nc
ford. The committee was appointe
a meeting Of the board Of directors
night.
Third Committee Formed.
This makes the third committee
which is working on the future Of the
Park Savings Bank. The first was ap-
pointed by q mass meeting at Central
High School last Monday night and the
second was announced yesterday by
Frank j. Sabotka. former president Of
the Columbia Heights Business Mems
Association. Mr. Sabotka feels that
one Of the most, promising developments
would be to place the bank in the hands
Of q receiver to get q definite settle
ment of claims and then to endeavor
to set up q branch Of the new Hamil-
ton National Bank.
Meantime, District Attorney Leo A.
Rover continued study Of the Depart
ment Of Justice report into the con-
dition Of the Park Savings Bank, where
the dead vice president left a shortage
estimated at around $1,600,000.
While Mr.. Rover has made public
no information from the report, it Is
understood that certain facts devel-
oped there points to the posi-
bility of Stunz having had a confed-
crate who may have tipped him of
in advance of the national bank ex-
aminers' visit to the bank.