Evening star., 1933-06-19
BANK DEPOSTORS
| GET NEW PAYMENT
Another Is Per Cent Re-
leased Today From Funds
H. of Departmental.
BY EDWARD C. STONE.

were calling at 1925 Pennsylvania ave-
nue. today and obtaining another pay
ment of Is per cent from the funds tied
I'D in the bank. The payment of this
dividend started Saturday following an
announcement by w. B. Altman, the
receiver, that another installment was
ready for the banks customers.
The Departmental Bank is making
fine progress in receivership proceed
ings, as the present payment is the
third to be made since the bank closed
IL months ago The two previous pay
ments totaled so per cent, SO that the
Departmental has now paid total OF
65 per cent of the claims against the
bank
Depositors obtain receivers certif1-
cate and are then given their money at
once The bank was kept open until
$50 Saturday evening for the conven-
ience of Federal employees wishing to
cash their vouchers. Regular banking
hours were observed today and will
continue tomorrow to accommodate Gus
toners who could not reach the bank
on Saturday. A large number of clients
called at the bank today to secure their
funds.
The Departmental Bank building now
is for sale. When this has been dis
posed of to advantage and other as
sets sold it is expected that another in
stallment will be paid. With IS per
cent of their deposits already returned,
the depositors are hopeful of eventually
receiving the greater part of the funds
which they had in the bank.
Roper Credit Farley Speaker.
Credit executives of manufacturing
wholesaling and banking establish
ments all over the United States are
arriving in Milwaukee today for the
thirty-eighth annual convention and
the Third Credit Congress of Industry
of the National Association of Credit
Men. which opens this afternoon in
the Hotel Schroeder. Over 1000 dele
gates will be in attendance
Included among the speakers during
the week will be Henry H. Heimann,
executive manager of the association,
who makes the keynote address this
afternoon, on Circulating Credit
Creates Commerce" Others on the
program are Daniel C. Roper, Secre-
tary of. Commerce; Mrs. Nellie Tayloe
Ross, former Governor of Wyoming and
now director of the United States Mint:
Dr. Glenn Frank of the University of
Wisconsin, Gov. A. G. Schmedeman of
Wisconsin, DR.. A. P. Haake, managing
director. National Association of Fur
41dllu4dClClCIS, anu LII. hllSll u.
Albert, past president of Rotary In
ternational and executive of the Cen
tury of Progress
Analysis of the industrial recovery
act and the place of a unified program
for credit appraisal within the scope
of the act will be one of the funda-
mental considerations of the conven-
tion sessions because credit is regarded
as a common denominator throughout
each and every industry
In an effort to coordinate the
opiniones Of the delegates and to
formulate a definite foundation. the
convention will divide up into 80 in
dustrial groups.
Soper on Institute Committee.
James A. Soper, vice president and
cashier of the Lincoln National Bank,
was appointed chairman of the Depart
mental Conference Committee of the
American Institute of Banking at the
concluding session in Chicago. The as
signment gives the Washington banker
very important part to play in next
years convention. This is the same
committee that I. j. Roberts, assistant
cashier OF the Riggs National Bank, was
chairman of two years ago
The Washington delegation to the
after "a grand trip" The business ses-
sionS were unusually interesting and the
Century of Progress furnished plenty of
thrliLS between heavy addresses on vital
economic subjects. If the Capital dele
gates remember as much about banking
as they will about the big fair. their
heads will bulge with valuable informa
tion
Many of the standing committees for
the coming year are yet to be chosen by
the new president, Albert S. Puelicher
OF Milwaukee. No doubt other mem
bers OF Washington Chapter will be in
the list. AS already noted E. Wallace
Scnreiner carried off third honors in the
oratorical contest.
Storage Company Votes Dividend.
Directors of the Security Storage Co.,
1l40 Fifteenth street, have declared a
dividend of S1.25 per share on the cap
nal stock, payable July 10, to stock
holders Of record July 6. Books will be
closed between those dates.
= Sales of American Stores Co. for the
I've weeks ending June totaled So
363,lo against S11 COL 1926 in the same
period last year, or a decrease of lO6
per cent. For the first five months of
the year sales totaled S4574l,265 COM
pared with S5l 1923 l03 year ago, de-
crease of s61S6,838, or II per cent.
= Atlantic Coast Line Railroad reports
Tor Tour months ended April 80. 1888
net income of S428,642 after taxes and
chargeS, equivalent after dividend re-
eulremenE on so preferred stock to
52 cents share on 823,427 shares of
common stock. This compares with NET
loss OF $780, in first four months of
1892. '--' "a
: April net income was Sll2.O45 after
taxes and charges, against net loss of
$l68,693 in April, 1882.
Sharp Trade Gains Spreading.
Business throughout this country is
showing a steady increase, and there is
now evidence that the United States is
oeIlnlte!y experiencing q continuing i'm
proVement IN employment, in trade and
IN industrial activity. according to the
current monthly survey of business
trends issued by International Business
MachlneS Corporation and received Ly
the Washington office. The survey IS
pased on reports from 900 of the com
panyS representatives in all parts cf
the country.
RepartS received up to June IS show
that the broad forward movement rr
ported month ago. which started Whcr
PRESIDENT RooseYeltS plans for a con-
trolled economy became known, has
now spread TO include practically all
xmas OF trade, industry and agriculture
More significantly. these late reports
show that, during the first Is davs of
June, the greatest gains were taking
place in those basic industries whose
activities are prophetic Of what NAV be
expected in general business in the
near future, the survey continues.
Today's ID. {. Exchange Trading
The Washington Stock Exchange
opened weak with 10 shares of Potomac
Electric Power per cent preferred SELL
ing at Ill. The same corporations 81,
per cent preferred stock was active dur
ing the days trading selling at lO7.
lG1l2 and l07as. The turnover reached
103 shares
Washington Railway & Electric pre-
II