Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-07-23
PLAN TO TRANSFER
FUNDS NHAM|LT0N
MERGER APPROVED
Depositors Will Be Given 0p-
portunity to Establish
Claims on Old Banks.
SERVICE OF NOTARY NOT
REQUIRED IN new PLAN
Five-Part Folder Provides Neces.
sary Information Regarding
Transfers.

Transfers.
Depositors In the eight member banks
OF the proposed Hamilton National
Bank will be given opportunity to estab-
lish official claims to all their money In
the old banks, and to take the necessary
steps to transfer so per cent of their
funds to the new Hamilton merger,
under terms Of an official letter and ac-
| companying forms, approved last night
by both the Government and bank OFF,
Gals concerned.
Conservators of the eight member
banks have been busy at work on the
letters and forms for several days. but
the documents did not reach completion
until late yesterday, when important
amendments were made.
With thousands of these letters ready
to be dropped into the mail by conser-
vators Of the eight member banks, the
welcome news and official instructions
probably will reach most of the deposit
tors Within the next few days.
Folder in Five Parts.
The letter has been designed In an
unusual form of folder with five parts,
divided by perforations. Folded inside
will be signature cards, and in most In
stances a self-addressed envelope for
return Of the forms to the proper place
In the words of one leader In the
merger movement. this now gives the
depositors opportunity to make the next
big step forward toward opening Of the
Hamilton National Bank.
Both Government representatives and
conservators Of the banks agreed last
iy,o inf fc1,
will be Of help to both the banks, and
to the depositors themselves. Among
suggestions made are the following:
Your letter is being prepared with
statement Of your account at the
bank, but will be mailed as soon as pos
sible to you at your home or Office ad-
dress. So please wait for arrival Of the
letter and its accompanying documents
by mail, instead Of coming to the bank
to ask for it.
Notary Not Required.
One Of the most important changes
made yesterday In the forms was that
allowing the deposition to eliminate the
services Of q notary public. Special
instructions, which will be stamped
into the letter by rubber stamp, read
Is follows:
If not convenient to acknowledge
proof of claim before notary, it may
be signed in presence Of witness not
related to claimant. Witness should
sign his name and write his address
under the signature"
The letters and forms are identical
for all eight members Of the Hamilton
National Bank merger. except that in
case of banks which were on 5 per
cent basis additional information Is
supplied.
The depositor is advised that on the
sheet known as proof of claim" the
amount "of your claim has been filled
If for any reason the same does not ap-
pear to you to be correct" says the
conservator, II will be glad to 60 over
it with you and verify to your satisfac-
ton the figures therein stated. You
will also note that the proof Of claim
recites that no assignment has been
made Of the claim. This does not
refer to an assignment of portion OF
your dividend to pay for subscription
stock in the Hamilton Bank, and you
may execute the proof of claim as
drawn. Notwithstanding you may have
assigned portion, or all of your divi-
dend to the Subscription Committee to
pay for such stock. The plan is that
the entire amount of your dividend pay
ment will be transferred to your credit
in the Hamilton Bank, and the assigned
portion Of the dividend will be charged
against your account in the new bank. |"
Authorizes Transfer.
The second form Is known as order
to conservator to pay dividend to
Hamilton Bank for account of depositor
or creditor" This form, the conserva-
tor explains to the depositor, lis letter
for your signature, addressed to me as
conservator, authorizing and directing
me to. deliver to the Hamilton National
Bank for entry to your credit upon its
books in either a savings or checking
account, or both, as you prefer, the
amount Of your so per cent distribu-
ton"
There is also letter for the sigma
ture of the depositor authorizing and
directing the Hamilton National Bank
to open an account or accounts, in some
kind of an account, checking or savings
or both. Signature cards are provided
so that the Hamilton Bank may honor
checks according to the proper sig
nature.
The Office of John Poole, conservator
Of the Federal American National Bank,
located at the Fifteenth and H streets
branch of the bank, is headquarters
for the conservation work of the five
banking houses Of the Federal-Ameri-
can. All letters for that bank. which
is the largest in the merger, have been
prepared there by bank staff, aug
mented by about 30 extra persons.
Conference Tomorrow.
Each proof of claim went through
NINA y,poooccoe Mr. p001a aYnla inod Tn
check depositors' accounts for entry on
the assembly sheet in the letter. To-
morrow afternoon Mr.. Poole will hold
q conference of bank officials who will
handle conservator work In the vari-
Gus branches. All mail will be ad-
dressed to headquarters Of the conserva-
tor at Fifteenth and H streets. If the
documents can be executed and sent
by mail, this will save time, Mr.. Poole
explained, but II depositors wish to
call in person, it Is preferred they come
to the Fifteenth and H streets branch,
where records are kept. For convent
ence, however, depositors will be vel
come at the other branches If they
desire to 60 there.
The District National Bank, it was
announced by Joshua Evans, conserva-
tor. will handle all its conservator work
at headquarters Of the bank, 1406 G
street, and there will be none Of this
work at any of the branches. Since the
District Bank was on per cent
basis before the bank holiday there Is
included on letters to all depoGtors Of
this bank a rubber stamp inscription
reading: UNPAID portion Of per cent
dividend made available March l.,
1888, but not withdrawn, payable in
full" After this Is placed the amount
of each depositor's account in this par
ticular. Mr.. Evans explains that this S
per cent will be payable unless it Is
required for application to q debt Of
the depositor. IN other words, where