Evening star., 1939-10-12
Banks Shorten Hours
To Garry Out Wagner
Law Requirements
Security Savings Will
Open at $50 Daily;
CITY Bunk.ut 9 AM.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Beginning next Tuesday, october
II, the Security Savings g. Com
mercial Bank at Ninth and G streets
NV, and the K-street branch, will
change the opening hour from $3.50
to $3.50 am. and continue to close
at 2 pm, the shorter hours being
adopted in an effort to comply with
the Wagner wage and hour law, 1t
was learned in the financial district
today.
In addition to the regular hours
from $50 to 2, the bank will remain
open on the 18th and the last day
of each month to S pm, except
when these days fall on a Saturday,
Sunday or legal holiday, when the
hours will be applied to the next
business day.
On the first business day after the
18th and last day of each month,
the bank will be opened at $3.50 a m.
inOorder to continue the present
service to all Government employees.
Banks Patrons Consulted.
When asked about the reduction
in banking hours, President Francis
G. Addison, jr., said the change was
made only after very careful study
of the situation. All the patrons who
have been transacting business at
the bank, or the branch, between
$50 and $50 in the morning. were
consulted about the change and
asked if they would be inconveni-
enced by a $50 opening.
In the replies to the inquiry, 81
per cent of these early patrons said
that they would not be inconveni-
enced by the proposed change. 1t
was following the result of this in
vestigation that officials of the bank
decided to adopt the new schedule
which will meet all requirements OF
the wages and hour law.
The Wagner law provides for a
44-hour week for employees up to
October "a, 1899: a 42-hour week up
to october "a, 1910, and a 40-hour
week after october "a, 1910.
Adoption of the $50 opening
makes it much easier to comply
with the 42-hour week and the 40
hour week which is coming next
year.
City Bank ShOrtens Hours.
Officers of the City Bank have
also taken action to shorten hours
at the branches. Beginning on Oc-
tober %, all five branch Offices will
move the opening time forward from
$3.50 to 9 o'clock. The main office
at Ninth street and Mount Vernon
place has always been on the 9
o'clock opening schedule.
The City Bank will also reduce
banking hours on Government pay
days by closing at S o'clock instead
of $50, officials said today
Announcement was made at this
bank that President c. F. Burton
and other officials considered these
changes as the best way to meet the
new wage and hour requirements.
Other banks in Washington are
working on the same problem and
the matter has been very widely dis
cussed by bank officers and directors.
Other Plans Now in Effect.
Several banks have their employees
report for duty at different hours
and stop work at different times.
In this way they are meeting the
new rules without changing the time
of opening and closing the doors.
Bankers said today that there has
never been any definite ruling that
banks come under the new law.
Pending such decision, Government
agencies have suggested compliance
with the Wage-hour standard pro-
visions. A recent California court
decision strengthens the belief that
the banks are included.
It was learned in several banks
today that there is a growing senti-
ment in favor of Saturday closing, a
program successfully tried in New
Jersey and other States. Such pro-
gram may be adopted here next
summer, with the idea of making it
a year-around schedule later.
Saturday closing would take care
of the 40-hour week law without any
change in the $50 opening, officials
asserted.
Associations Assets Mount.
Reporting an increase in assets
Of over $3.50, 900 during the past year
the statement of condition of the
District Building & Loan Association
presented to the shareholders yes
terday at the annual meeting re-
flected a high-Water mark in the
% years history of the firm. Ac-
cording to F. Wilson Camp, secre-
tary, the past year was one of the
best ever experienced, with total re-
sources now in excess of $1,697 900.
All officers and directors were re-
elected by the shareholders. Headed
by George A. Baker, president, Henry
Gilligan continues as vice president