Evening star., 1934-08-28
BANK WILL PAY
THIRD DIVIDEND
Depositors of international
Exchange to Receive
Ten Per Cent.
BY EDWARD C. STONE.


according to announcement made to-
day by the receiver, j. T. Dinger.
The bank will be open from am
TO S pm. on all week days but Satur-
day, when the hours will be from
Q to l, Receiver Dinger stated. De-
positors and other creditors may call
for their checks during those hours.
Dinger added that checks will be
sent by mail only TO those depoSitors
who reside outside of Washington. All
depoSitors must present their receiv-
er's certificates In order to obtain the
dividend checks.
The International Exchange Bank
was closed on July IA, 1882, by order
of the controller of the currency and
on that date deposit liabilities totaled
$564,979.O6.
Two payments to depositors already
have been made. The first dividend,
Of 1924 per cent, was distributed on
March ~, 1888, the amount Of the
payment being $50, ,342.46.
The second dividend payment, 5 per
cent, was distributed on November %,
1898, the amount of that return to de-
pOolLOIS dIl0 OtAACA SACAAVOAS bCAAAe
sl7,762.77.
The third payment, starting this
week, of 10 per cent means a payment
Of S35,519.97. This makes total pay
ments to date Of $$l12,625.20.
Exchange Oficials Pleased.
Oficials Of the Washington Stock
Exchange are much pleased with the
number of applications already re-
ceived asking for temporary registra-
ton of the securities listed on the
local board. These securities must
be listed under the temporary rules of
the Securities g. Exchange Control
Commission, of which Joseph p. Ken
nedy is chairman.
When the Washington Stock Ex-
change decided to seek registration OF
the organization with the new Gov
ernment control commission, that
meant that the securities listed for
trading must also be registered under
the temporary rules. These applica-
tions are sent to the Washington eX-
change and will be forwarded to
Securities g. Exchange Control Com
mission in a few days.
The applications have come from
banks, insurance companies, country
clubs and other corporations. The
action is apparently being taken as
the regular monthly meetings of the
directors are being held. The blanks
sent out by the Washington exchange
are coming back more rapidly than
expected.
The corporation applications do not
have to be filed with the commission
until the middle Of September. The
local exchanges own application for
registration, however, has to be In by
September /. The information has
all been prepared and is ready for
filing. This work Is In the hands of
g special committee made up of Myles
II. Quail, James M. Johnston, Karl w.
Corby and Y. z, Booker.
Advocates Examining Banksrs.l
Pointing out that the key point in
good banking is management, r. o.
Byerrum, vice president of the Uni
versity State Bank of Chicago, in q
round table discussion with Prof.
Hendrikson Of the University of Chi
cago, advocated the setting UP of q
system providing for examination and
certif1cation of the oncoming genera
ton Of bank executives of the rank
of cashier and above. Existing bank
executives under this system would be
presumed to be competent and would
be exempt from examination unless
definite indications of incompetence
appeared. Existing executives could,
If they wished, however, take the
examinations.
Mr.. Byerrum advocated the setting
up Of a national board to handle the
examination and certihcation of as
pirants to bank executive position, to
be composed of a representative Of
the American Bankers Association. a
representative of the Federal Reserve
System and third representative
from academic circles to be chosen
by the other two.
Each Federal Reserve district would
have a similar board of three under
the general supervision Of the ma
tional board.
Father Retains Position.
Edwin D. Flather, active in the local
financial district for many years, Is
remaining as the Washington repre-
sentative Of Stein Bros. g. Boyce in
the investment field. The firm re-
Gently closed its board room here and
turned over its stock trading accounts
to another house. Mr.. Flather, how
ever, who had been in charge of the
firms bond department, decided to re-
tain his association with the firm and
has an Office in the Woodward Build
ing.
Some years ago Mr.. Flather was as
ISOLATED with Riggs Bank and later
with Baker, Watts g. Co. He was born
in Washington and is a brother of
William j. Flather, one of the vice
presidents of Riggs National.
In special review of business con-
ditions in the IL Federal reserve dis
tricts, the New York Times says in
headlines: Retail Trade Rises in New
York, Wages Rise in Pennsylvania,
New England Trade Fair, Chicago
Business Gains, st. Louis Marks Time
Big Jump at Kansas City, Minneapolis
Buys in Rush as Truck Strike Ends,
Auto Trade Aids Cleveland, Richmond
Reports Trade in Southeast Firm
Business Improves in Atlanta Area
Rains Aid Dallas Trade, Trade Rising
on Coast.
Busy Session on Exchange.
Business was lively on the Wash
ington Stock Exchange today, the
opening sale being in Washington Gas
IS, series B, baby bonds changing
hands at 103.
Washington Railway g. Electric 4s
lead the days trading. $4,000, $4,000
and two 81 900 bonds changing hands
at 97A, unchanged from other recent
transfers.
Two other bonds sales were regis.
tered during the session, Anacostia &
Potomac Railroad SIS appeared on the
board at rs, in $1,000 denominations
Washington Railway g. Electric pre-
ferred stock moved up half point
today, Is shares changing hands at 90
The remaining trading was in Mer'
genthaler Linotype. There were ole
lot sales totaling 100 shares and &
block Of 100 shares, all at 211a. Th'
NJ