Evening star., 1935-04-09
Quarterly Report of Receiver
of lnSolvent Bank In.
diCates Payment.
SUM WOULD BRING
TOTAL TO rs PER CENT
Book Value of Remaining Assets
Listed at $5,966, ,55s, but EST.
mated Value Is $2,471,0 ,053.

More than 100000, roughly rs
per cent more, in dividends probably
will be paid to depoSitors in the in
solvent Commercial National Bank by
complete liquidation.
This indication, the first Of its
kind available since the bank closed
late in February, 1888, was disclosed
today by the quarterly report Of the
receiver, Robert C. Baldwin.
Payment Of another IS per cent,
in addition to the so per cent al
ready paid out to depositors, would
bring the total realized by depositors
Of this bank up to rs per cent.
For the first time since the bank
closed the official form Of reporting
to the controller of the currency in
cluded estimates Of remaining assets
Of the bank. These, together with
figures showing the debt still owed to
the r. F. c. and the deposit liability,
gave the basic figures from which it
is possible to reach the general con-
other IS per cent eventually. It is
not possible to predict when this can
be paid, or in what installmentS. 1t
Is only rough estimate.
Declines to Comment.
Mr. Baldwin declined to comment on
his quarterly report, but simply made
it public, with the new figures avail
able for the first time.
The book value of total remaining
assets in the Commercial was listed at
$3.50, ,558.67, but the estimated value
Of these same assets is placed at
s2,471 ,o53.50.
In explanation of the estimated"
value. a footnote on the oficial
printed report furnished by the Treas
ury Department says:
THE above figures as to estimated
values represent the receivers present
estimate of the ultimate liquidation
value Of these items. Accordingly,
these values are not guaranteed by
either the receiver or the controller Of
the currency, and they should not be
accepted by the deposition as final
either as basis of prospective divi-
dends or otherwise. The assets valued
above include those, If any, which
have been pledged for the repayment
| Of secured liabilities and no allow
ance has been made for unpaid bal
snces Of such claims or for any out
standing balance Of q liquidating loan
granted to the receiver by the Re-
construction Finance Corp"
Owed II. r. C. $3,327,4Oo.
The Commercial. however, it is dis
closed by the figures, owed to the
r. F. C. total Of s3.327, 400, Of
which s2,479, 400 has been repaid al
ready, leaving a net principal debt
Of SS4S,000. Since this debt has run
for some time it is estimated that in
terest would amount to around $780,
900, bringing the banks debt to the
r. F. c. around Se48,000.
Subtracting the r. F. C. obligation
from the total estimated remaining
assets leaves a fund of more than
81 500, 900 available for depositors and
liquidating costs. This is, roughly,
about one-fourth of the total original
deposit liability Of more than S.
S22, 900.
The so per cent dividend from the
Commercial has paid over to deposit
l tors more than $2,789, 500.
The quarterly report is for the
period ending March 81 this year.
DepositorS who have money in the
bank, and who have failed to file
claim or received any of their fund
are being notified by letter from the
receiver to come and prove their
claim, and get their funds. There
Is nearly quarter Of a million dollars
in claims not yet proven.