The Washington times., 1934-04-28

president, Paul Dunbar Hare
j. Seltzer, American Security and
Trust Company; treasurer, Joseph
R. Fitzpatrick, Second National
Bank and william H. Laughlin,
Washington Loan and Trust Com
pany; secretary, Myrtle Lewis,
Liberty National Bank, and Kath-
arine W. McCalmont, w. B.
Hibbs g. Co.: assistant SECRETARY,
Ruth I. Gordon, Security Savings
and Commercial bank; chief con-,
sui, George B. Earnshaw. National
Metropolitan Bank, and Robert
M. Poole, Riggs National Bank;
board of governors, Herbert D.
lawson, washington Loan and
Trust Company; Robert E. Lee,
Lincoln National Bank; Stuart S.
Oglivie, Second National Bank;
francis E. Robey, Bank of Com.
nerce and Savings; Robert A.
Sisson, Hamilton National Bank;
Alice Whitton, First National
Bank, Alexandria, Va, and Ger
trude C. Wick, Liberty National
Bank.
Coincidently, the chapter
named the following widely
,';nown bankers to represent it
IT the annual convention of the
institute which will be held here
June lila. inclusive:
Harold w. Burnside, j. George
Dagenais, Constance D. Fogle,
y. M. Garnett. Robert M. Poole,
Z. j. Roberts, George o. Vass and
Kenneth F. Brooks, Riggs Ma
tlonal Bank; s. Winifred Bur-
yell and George B. Earnshaw,
.Tational Metropolitan Bank;
william A. Cady. James c. Dulin,
frank M. Perley, Paul j. Seltzer,
snd Alfred w. Sherman, Amer
i;an Security and Trust Com
rany; Aubrey o. Dooley, Walton
j.. Sanderson, Wilmer j. Waller,
md Lois A. White, Hamilton
rational Bank; Joseph R. Fitz.
patrick and Stuart S. Ogilvie,
second National Bank; G. Elmer
I-lather, Union Trust Company;
~ruth I. Gordon and T. Hunton
y eth, Security Savings and Com
= ,ercial Bank; A. E. Henze, j.
y arle McGeary, and Katharine
-. McCalmont, w. B. Hibbs and
Company; Robert H. Lacey, Co.
:I'mbia National Bank; William
II. LaughIn, Mabel v. Royce,
I>ose L. Royce, and Norman E.
,Towson, Washington Loan and
Trust Company; Robert E. Lee,
r Tichard A. Norris. and James A.
Toper. Lincoln National Bank:
.cancis E. Robey, Bank of Com.
r. 'erce and Savings; E. Wallace
Echreiner, and Robert G. Whit
T N, First National Bank. Alex
cldria, Va, and Gertrude c.
\ ick, Liberty National Bank.
Leo T. Crowley, chairman of
tie Federal Deposit Insurance
1rporation, announces that de-
] osit insurance will be available
to banks in some form after July
Il. 1884, whether or not the pres
Fe1t temporary insurance fund is
e';tended by Congress for another
year. He said:
"Under the law, insurance Of
? hank deposits to the amount
: Cf $2,5OO for each depOsitOr in
the temporary insurance fund
expires on July l of this year,
l,ut provision is made for con-
'inuing insurance beyond that
I date.
"As it now stands, the law
requires banks which are mem
',ers of the Federal Reserve
fjystem to become stockholders
n the Federal Deposit InSur-
1nce Corporation on July l,
7hen the permanent insurance
und is scheduled to 60 into
fleet, and to insure their de-
-,OSits. State banks which are
lot members of the Federal
: Deserve System are permitted
o obtain the benefits Of
urther insurance beyond July
l by subscribing and paying
, or stock in the corporation on
he same basis as Federal Re
. Ierve member banks.
Hence, there is no occasion
"Or any feeling Of uneasineSS on
he part Of depOsitOrs, since all
'>ankS now insured can continue
10 be insured should the uerma-
vent fund be put into effect on
:uly 1.
"There is a bill now pending
n Congress, which has already
,een passed by the Senate, pro.
iding for the extension Of the
temporary insurance fund to
July /, 1885. Under the terms
II this proposed extension, de-
I,Osits in insured banks will be
protected, in full, up to $2.50O
I,er depOsitOr. This bill also pro-
Yides that banks which are
members Of the Federal Reserve
system must continue in the
fund for the One-year extension,
while State banks not members
II the Federal Reserve System
must continue to hold their
membership in the fund for the
additional year unless they give
',Otice of their intention to With
,lraw 30 days before July l.
Therefore, there will be 30 day
period during which depOsitors
will know that the bank in
which they have funds intends
to terminate the insurance OF
R~wnm1kwN