Evening star., 1935-01-13
|NS0LVENT BANKS
PAYMENTS TOTAL
$7,775,0|)D IN CITY
Dividends to Depositors
Range From so to 30
Per Cent.
ADDITIONAL FUNDS DUE
LATER, OFFICIALS SAY
Total Remaining Uncollected As
sets Listed at Five Million,
Book Value.

Out Of total assets of five insolvent
banks in the District of Columbia
amounting to $4,000, ,O98.55, cash COL
lectionS have been made to the extent
Of S7,775,872.18 up to the end of 1884,
according to quarterly reports by Nor
man r. Hamilton. receiver for the five
institutions. made public last night.
Dividends paid to unsecured credi-
tors, such as depositors, range from SO
per cent to 80 per cent among these
banks. and total altogether S4.804.-
74O.5O Some further dividends may
be available, but the quarterly reports
make no prediction as to when these
additional dividends may be available,
nor how much they will be.
The District National Bank. which
had assets at date of its suspension OF
S8,60l, ,400.l3, acquired S434,872.5 ST
assets after suspension, and stock
assessment of Sl,0O0.000 was levied,
making total assets of this institution
to be accounted for S10.036, ,272.70.
One dividend of so per cent has
been paid by this bank. the con-
servator paying Sl.793, 1888 on re-
organization of the bank, and the
receiver since paying sufficient addi-
tional to claimants who did not get
it from the conservator to make total
payments to unsecured creditors
Sl.911.05360.
Some stockholders are making
court fight to prevent collection of
stock assessment, so that the receiver
has listed no collections from stock
assessment as such. turning the pay
ments from some other stockholders
into a trust fund to await court de-
termination of the stockholders fight.
Total remaining uncollected assets
are listed at S5,121 1881 book value.
Cash collections total S4,l35,8l5.34.
Repayment to r. F. c.
The Reconstruction Finance Corp,
which loaned S8l7,287. had been re-
paid in the amount of S148,230.90.
, The Potomac Savings Bank had as
sets. including 100 per cent stock
assessment of s140,000 totaling
S3,526,84405. out of which total cash
collected from assets is listed at
SLABS. .940.87.
Only one dividend Of so per cent
has been paid through the conserva-
tor on reorganization of the bank. This
dividend. including some payments by
the receiver since. on the same 30
per cent, total Sl,018546.01. A suit
is pending in this institution over
right of the receiver to collect stock
assessment, so the collections from
this source are not segregated. The
Reconstruction Finance Corp. loaned
this bank s445.575, of which S99,7l4.37
has been repaid.
Receiver Hamilton has paid addi-
tional dividends in the Seventh Street
Savings Bank, which in addition to
the original so per cent paid by the
conservator brings the total to 80 per
cent, or a total cash of S839,147.75.
OF total assets of Sl,869, ,942 in this
bank, including a stock assessment
of 100000. total cash collected is
listed at s8o1 ,382.55, but stock assess
ments collections are also segregated
in this account.
Out of total of a loan of S623, ,407
from the R. F. c.. the receiver has
repaid S254,807. Total remaining un-
collected assets are listed at book
value S930,5 1.54. Cash in hands of
receiver and controller is S44,806.46.
Is Per Cent Paid.
The Northeast Savings Bank has
paid total of rs per cent dividends
to depositors. including the original
so per cent and an additional Is per
cent, amounting altogether to S792,-
943.33 The r. F. c. loan of S462 $3.50
has been curtailed by S272,330. A
stock assessment of 100000 has been
levied against the share owners, but
not segregated on collections. Total
assets are listed at 81, ,90l, 1921. Total
cash collected. excluding stock assess
ment, is s1,081, ,504.34. Total remain
ing uncollected assets are S657, ,586 30.
and the cash in hand is $43,35330.
The Washington Savings Bank.
against whose stockholders there has
been no assessment, has paid total
dividends of 10 per cent, amounting
to $243, ,04981. Total assets are listed
at $734,847.35, and cash collections
at 1921 ,229.08. Total remaining un-
collected assets are booked at $346,-
639.54. The cash in hand is $12, ,104.92.
The r. F. c. loan of $247,39 has been
repaid in the sum of $133,695.