Evening star., 1933-09-25
HAMILTON BANKS
OPENING MARKED
BY NEW DEPOSITS
One Receipt of 100000
and Another for $780,
600 Reported.
BALANCE EXPECTED
TO GROW DURING DAY
President Graham and Other Off.
GERS Recipients of Many
Congratulations.

SOh6 1 q uld LlUuS.
with Its headquarters and seven
branches decorated with flowers and
comfortably filed with customers. the
new Hamilton National Bank opened
today. releasing about 100000 in de-
posits.
10 the surprise Of both officials of
the bank and police who had been STA
toned at each Of the buildings no
lines formed before the opening hour
OF $50 and early crowds were small.
The number of customers increased
however, during the morning hours
until Just before noon most OF the
iopbles were fairly well filed. Some
persons were Withdrawing while some
others were making new deposits.
President e C. Graham of the Ham,
llton merger and other officers were
flooded with congratulations arriving
By mail and by wire and there was a
spectacular floral exhibit of baskets of
flowers at headquarters.
Deputy Controller of the Currency
Lloyd G, Await called at the Hamilton
BANK shortIy after noon to greet Presi-
cent Graham and congratulate the
otflcers on the opening OF the new in
stitutlon. Await was acting controller
OF the currency when the movement
lor merger OF the Hamilton Bank was
first started
he came to the bank in the company
OF MAJ. w Irving Shuman of the
treasury Department. who had handled
the Governments negotiations for
opening the new merger.
Most OF the Withdrawals were said
to be small. while there were manv
substantial new accounts, officials said
among the deposits at Hamilton head
quarters at Fourteenth and G. streets
were one for 100000 and another for
$4,000.
Larger Deposits Seen.
While scme bank officials were too
conservative to make prediction about
the net business for the dav. it was
freely predicted in some quarters where
the flow OF business was being watched
closely that by the end OF the day
the Hamilton would have larger de-
posts than when it opened for busi-
ness this morning
Inc trst customer at Hamilton head
quarters arrived at 7:l5 am. with a
request to make a deposit. He was
George TAFT, 421 Fifteenth street
southeast. He was admitted and made
deposit, While the formal opening
hour was $50, the front doors of the
Hamilton headquarters were actually
opened for a little group of about four
women who were there at 8:15. and
from then on the customers came in
small but seadily increasing stream
during the morning.
ESta bllshed with a capital stock Of
S1oOO,000, with s250,OO0 surplus, the
Hamilton had on hand this morning
10 meet the demands Of its depositors
s25O0O00 in cash. President Graham
SAID: Most Of this had been delivered
TO headquarters and to four of the
n1emoer m branches Saturday, but some
OF 1t was distributed to the three
branches of the old Federal-American
National Bank & Trust Co. early this
morning. President Graham. in an Off
cal statement on the financial set-uo
OF the bank, today said:
with capital structure of 81 ESQ.,
U00, the Hamilton National Bank en-
JOYS TIE unique position Of being prac-
tlcaly without liabilities beyond its de-
poSltS.
Cnencumbered by Loans.
In respect to assets. the Hamilton is
particularly model example. We are
unencumbered by loans or real estate
All assets taken over by the bank con-
Slst OF cash. Government bonds. listed
ponds at Saturdays selling prices. and
loans on which schedules are checked
up to date by the United States Treas
ury and Federal Reserve Board. This
statement plainly shows that the Ham
liton Bank has nothing but prime assets
upon which depend the security and
Inanclal integrity of an institution of
this kind. The value of euuipment for
the several banks comprising the Ham
llton institution amounts to less than
S5O,0C0. The Hamilton has not bor-
rowed a dollar from the r. F. c. or
from any other source"
Meantime. the Treasury Department
mad no. appointed new conservators to
take the place of four men who were
taken over by the Hamilton National
Bank for its official staff What the
Treasury will do in this respect remains
to be seen. although the business of
conservatorshlp was moving forward
today In these four banks-the District
National. the Washington Savings. the
northeast savings and the Woodbridge
Langdon Savings and Commercial
Bank. Some kind of action by the
Treasury is anticipated soon in this re-
specJ as the situation regarding these
old member banks is now left up in
the air" This. however, does not af-
feet in any way the operation of the
new Hamilton merger and it is antici-
pated that the Treasury will clear up
the conservatorship question shortly.
Reports received at Hamilton head
quarters from its seven branches pointed
to situation in .hc outlying houses
very similar to that at headquarters
Many persons were making withdrawal
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