The Washington times., 1934-03-31


banks is expected within a week
or two,
Based on a 100 per cent assess
tnent on the par value of capital
stock in the seven banks the levy
would total $3,540,000.
Capitalization is divided as fol-
lows:
Federal American, $4,000, 900;
District nal, $1,O0o,O00;
Chevy Chase Savings, 100000;
Potomac Savings Bank, $4,000;
Northeast Savings Bank, 100000;
Seventh Street Savings Bank,
100000, and Washington Saw
jngs, 100000.
The capitalization repreSe
about 40 per cent of the deposit
liability of the seven institutions.
That totaled $8,908,135, divided
as follows:
Federal American, $4,2S5, ,932:
District National, $2,075,645
Northeast Savings, $509,135: Sev.
enth Street Savings, $51, 900: Po-
tomac Savings, $1,033,441; Wash
ington Savings, SITS, 200. and
Chevy Chase Savings, $273,782.
Six Of the banks are now part
Of the Hamilton National Bank
combine. The Chevy Chase Saw
ings, however, is g. branch of the
Riggs National Bank, that insti-
tuition purchasing prime assets.
The remaining assets are in
process Of liquidation.
Floyd G. Davis, president of the
Lincoln National Bank. is another
banker who does not like pub
Hcity.
Mr.. Davis bank has been OBJ
serving its fnrty-fourth ami
versary this week, and he has
been the recipient Of many con-
gratulatiops. However, he re-
fused to have his picture taken,
saying:
II don't go in for that"
Clarence F. Burton, president Of
the Washington Mechanics Bank,
says:
''It won't be long now"
He's talking about the compile
Eon of the three-cornered merger
by which the Washington Me
chanics will become the City Bank
Of Washington. The Mt. Vernon
Savings Bank already has been
absorbed and the Franklin Ma
tional, closed since the banking
holiday, will go in sometime next
month, probably by April %.
Mr.. Burton and John B. Coch-
ran, president of the Franklin Ma
tional, who is going to be chair
man Of the board Of the new
bank, are faced with a problem.
The Franklin Nationals office,
at Tenth Street and Pennsylvania
Avenue Northwest, is quite small,
and when pay-off day comes Mr..
Burton and Mr.. Cochran fear
there might be a jam.
So they are figuring out a
scheme to pay off, probably start
ing with the first three letters in
the alphabet.
The Black committee which is
investigating air mail contracts is
said to have evidence against one
Of the big aviation companies
which is packed with dynamite" ,"
Mrs. Nellie Tayloe Ross, director
Of mints, has her office facing
the back yard of the White House.
When her nerves start cracking
under the strain of the days work
she goes to a window. gazes at
the Executive Mansion lawn,
watching Sistie and Buzzie Dali
playing with their nurse.
Mrs. Ross says watching the
grandchildren of the President
quiets her nerves, and she is able
to work again.
William H. Moran, chief of the
United States Secret Service, is an.
royed over published reports that
there is a lot of counterfeit money
in Washington. He denies emphat-
ically that there is anything to be
alarmed at and says there has
not been a thousand dollars in
bogus currency here in year.
c. Shelton Buchanan, of Hemp
hill. Noyes & Co., has the repu-
tation of being one of the big
ReSt jokeSters in the Washington
brokerage game. He's so good
at it that he has all of his asso-
ciateS nervous.
Mr.. Buchanan has one regret
and that is that April !, All
Fools Day, comes on Sunday. He
usually is in extra fine fettle on
that date.
Ferry Health, of Hartman &
Co., is still a hard man to find.
Maybe it's because we drop in
on him at the wrong time.
Miss Bess Schoor, Of West
heimer & Co.. reports that she
Is back in circulation. Miss
6choor was operated on some
time back and until last week.
while working, was not stepping