Evening star., 1935-04-10
FederaI.AmeriCan Likely to
Distribute rs Per Cent
More.
DISTRICT NATIONAL
PAYMENT ALSO SEEN
Chevy Chase Savings Also May
Increase Total Paid by
; ~ Per Cent.

tional Bank d Trust Co. eventually
is expected to be able to pay its de-
positors another Is per cent dividend,
making total dividends of rs per cent.
The insolvent District National
Bank may be able to pay between IS
and 40 per cent more, making total
of between IS and 80 per cent, if con-
tested stock assessments can be COL
lected.
The Chevy Chase Savings Bank
probably will pay 81 per cent more.
total of 81 per cent, out of its re-
manning assets. but If a stock assess
ment is made against stockholders
the bank may be able to pay out 100
cents on the dollar.
Predictions Unofficial.
These important predictions can be
made today unoffcially based on quar-
terly reports of the receivers of these
institutions sent to Controller of the
Currency J. F. T. O'Connor. The re-
ports contain for the first time esti-
mates on value of remaining assets.
Depositors are warned, however, by
An official statement that these eSti-
mates are mot guaranteed and
should not be accepted by the de-
positor as final either as a basis of
prospective dividends or otherwise"
Meantime additional dividends of 10
per cent were being paid out by Re-
ceiver Norman r. Hamilton to de-
positors of both the Washington Saw
ings Bank and the Northeast Savings
Bank, bringing total dividends Of
tuyn inc fn tot lie of
30 per cent for the Washington Saw
ings and IS per cent for the North
east Savings. There are still more re-
manning assets in these banks to be
liquidated
The Federal American Bank is
shown in the new figures to have re-
manning assets of a book value of
S9,360,01446. which are estimated by
the receiver to be worth now $685.
1882.
Assessments Well Paid.
= The stockholders of this bank have
paid an unusually high percentage of
their assessment. about Al per cent
much higher than the average for
such collections throughout the Ma
tion-the report of Receiver Cary A.
Hardee shows. Out of stock assess
ment of 100000 the receiver has
collected already 1881 ,356.49.
An interesting item in this banks
report is cash in hand, which is
listed at $912,80841. indicating funds
are accumulating for another divi-
dend to depositors. No official an
nouncement, however. has been forth
coming as to when this dividend may
be expected.
Cash already paid on the basis of
the first dividend of so per cent
amounted up to March 81, to S4,l42,-
64401
The Chevy Chase Savings Bank.
also in the hands of Receiver Hardee,
shows signs of being able to pay a
total of 81 per cent out of the re-
manning assets now on hand. without
the additional resources available in
q stock assessment. Should the re-
naming assets prove insufficient to
pay depositors in full, the stockholders
will be assessed, and the funds so
realized will be paid to depositors.
With this in prospect, there is
possibility that the Chevy Chase Saw
ings Bank probably will pay out 100
per cent.
Chevy Chase Pays so Per Cent.
Depositors of the Chevy Chase al
ready have received a so per cent
dividend, and remaining assets are
given a book value in the receivers
report of 1858 831 40 and an estimated
actual value today of $l45,321.65.
Cash in hand at this bank is
S91, ,23021.
The District National Bank, which
has paid so per cent to its depositors,
may possibly pay additional dividends
of between 35 and 40 per cent, accord
ing to the report of Receiver Hamil-
ton, which estimates remaining as
sets of this institution at $2,l95, ,141 .78.
The book value of these same assets
Is put at S5,057 1888. "a.
Against these remaining assets and
cash in hand of S443. .26005, and
liauidating account of S87,779, stand
the loan from the R. F. c. unpaid
deposit liability. Calculations on
these figures, taking into considera-
ton the r. F. c. loan and expenses
of receivership make possible the in
formal prediction of further dividends
of between 35 and 40 per cent. An
important factor in this bank also Is
a suit still pending in court contest
ing the right of the receiver to COL
lect the stock assessment. The re-
ceiver and controller of the currency
must win this suit and be able to
collect an estimated $650.000 out of
the stock assessment of $1,000,000 to
make possible the estimated addi-
tional dividends.
Depositors of the Washington Saw
ings Bank already have received 10
per cent, which. with the 10 per cent
today. makes total of 80 per cent
The statement of condition of WASH
ington Savings as of March 81 shows
s32o,456.63, and an estimated actual
value now of 204,039.42.
Depositors of the Northeast Savings
Bank, who had previously received rs
per cent, today received another 10
per cent. which brought their total
dividends to IS per cent. Condition
statement of this bank as of March
81 showed remaining assets of book
value of $571,9135l, and estimated
actual value of $395, 1862.
Receiver. Hamilton has declared a
dividend of 1872 per cent for deposi-
tors of the Potomac Savings Bank,
who previously had received so per
cent, but this additional dividend will
not be available until next month. Re-
manning assets in the Potomac were
listed at book value of $l,627, 1885
and estimated value of $932 ,736.45.
The Seventh Street Savings Bank,
which has paid depositors so per cent,
is shown by Receiver Hamilton to have
remaining assets of book value of
s835,006.07 and estimated value of
s490, 1889.