Evening star., 1933-06-17
Member of Depositors' Body
Calls Estimate Made at
Mass Meeting Low.
COMMITTEE HAS FOUND
SOME INTERESTING FACTS
Favors Taking No Definite Action
at Present on Receivership
Question.

More than Is cents on the dollar
probably will be realized out of the
Park Savings Bank. according to Will
liam j. Neale, member Of the special
committee of depositors appointed at
a mass meeting last Monday night at
the Central High School.
The committee had a conference
yesterday, MIR. Neale said. with repre-
sentatives of the National Depositors'
Committee, which is setting up q Ma
tion-wide organization to work for the
depositors of the closed banks. The
conference was held at the Mayfiower
Hotel. An estimate CT Is cents on the
dollar had been made at the Monday
night mass meeting.
Mr.. Neale said the committee also
had held other important conferences
with certain people and that out Of the
work already done since Monday night
the committee feels 1t has uncovered
some facts which will be of great IN
terest to the depositors." He could not
disclose them now, Mr.. Neale said. Jo-
seph w. Thompson, who had headed
a previous committee Of depositors, has
permanent committee, Mr.. Neale said.
The committee now favors taking no
definite action on q receivership at
this time.
Other Committees at Work.
Two other committees are working
on the Park Bank situation, but have
not taken definite action yet. DR.. Wade
H. Atkinson, chairman of the committee
Of directors, said today the directors
had stood aside while the Department
Of Justice was working on the bank,
but now is ready to 60 ahead to do
what they can for the depositors. I'VE
bow our heads, not in shame" said DR..
Atkinson, "but in sorrow because some
man betrayed u.s." The directors COM
mittee has not yet decided definitely
whether it would be In favor of
receiver at this time, he said.
Frank j. Sobotka, chairman Of .
committee representing several groups
interested in the Park Savings Bank,
said today he would now await develop
ments by the board Of directors COM
mittee before taking any further steps.
Both he and Dr.. Atkinson indicated
that their two committees may get
together for concerted action soon.
Sobotka is convinced that the best
thing to do Is to put the Park Savings
Bank into receivership and to attempt
to start new bank, preferably as
branch Of the Hamilton National Bank
merger.
A meeting Of the Organizing Board
of the Hamilton bank was held yester-
day at headquarters at the Federal-
American National Bank B. Trust Co.,
under leadership Of Edwin G. Graham.
president Of the proposed merger. A
subcommittee on bylaws of the bank
was authorized to be appointed by Mr..
Graham. Progress was reported on the
work of considering what branches
shall be retained for the merger. The
subcommittee on assets Of the MEM
Der banks has already passed on the
assets of three banks, and will con.
tinue to consider the other four as
rapidly as possible.
It was announced today that the fol-
lowing business firms had subscribed to
stock in the new bank: Hecht Co,
julius Garfinckel & Co., Frank r. Jel-
left, Inc; Lansburgh & Bro, The Eve
ming Star Newspaper Co.. Sanitary
born's, John H. wilkins Co., w. B.
Moses & Sons, Peoples Drug Stores,
Kings Palace. Bethel & Co., Palace
Laundry, Mazo-Lerch Co., Inc; Chesa-
peake & Potomac Telephone Co., Nc
Cambridge & McCambridge, Potomac
Electric Appliance Co., M. Pasternak,
L. A. Clark & Co.. Adolph Kahn & Co.,
E. F. Droop & Co.. Erlebacher's. Ma
tional Electric Supply Co., w. T. GAL
liner & Bro, General outdoor Adver-
tising Co., Byron S. Adams, Trew Motor
Co.. George E. Walker Co., Washington
Railway & Electric Co. M. j. Ward &
Co. and r. L. Taylor Motor Co.