Evening star., 1941-02-18

In spite of the Controller Delano.
complex problems of liquidation in
volved in the receiverships of larger
size still in progress, it is believed,
the controller adds, that the ma
jority of the 255 receiverShips which
remained in process of liquidation
on October 81 will be completely
liquidated and finally closed during
the coming year.
The controller announces that nine
banks in the District of Columbia
remained in process of liquidation
on october 81 last, aggregate asset
resources amounting to SIS, 5,734,941,
from which the sum of $12,335, ,155
has been realized. Total dividend
payments to creditor claimants have
amounted to S6,303, ,750, or an average
of 62.13 per cent of the total claims.
Costs of liquidation have totaled
$1,000 1896. an average of 1854 per
cent of total collections, Controller
Delano says.
Earnings of ID. c. Banks.
Bank earnings are given for 1889,
the report stating that gross earn
ings of all active banks in the Dis
trict of Columbia in the calendar
year 1899 were S11,912 900, or $780,
coo more than in the previous year.
Interest and discounts on loans ac-
counted for s5.206000 and interest
and dividends on bonds, stocks and
other securities So 571 900. Net earn
ingS were S3.2O8 900. which were in
creased by S2.092 900 of recoveries.
Expenses we're S293,000 more than
in the preceding year.
Assets of the 26 building and loan
associations operating in the District
of Columbia in 1899 amounted to
Sl37, ,493 900, an increase Of $11 1,410,-
900 during the year. Loans increased
s1i,516,0O0 to S129 ,69l 900 and invest
ments of S1,571 900 showed an in
crease of S220,000. Shares outstand-
Ing increased s5,o11 900 to S117,989,-
600 and surplus, profits and reserves
of S14,328,000 increased 1894 900,
the report showed.
At the end of October, 1910, there
were 25 active credit unions in the
District of Columbia, which reported
loans of s1,411.00O, investments of
S174000, and deposits in banks Of
s151 GOO, which increased respective
" during the wear $365 900, S43 900
and $4,000. Fully paid and INSTALL
ment shares totaled S1,551 900, an
increase of S377,000 in the year, while
undivided profits and reserves in
creased $4,000 to $159,000.
Controller Suggests Changes.
Controller Delano recommends to
Congress that his annual reports be
called for at later date then the
opening of Congress in order that
later calendar year figures may be
included.
For uniformity, he would place all
the credit unions in the District of
Columbia under the Farm Credit
Administration, which now has
supervision of all credit unions
organized under the Federal Credit
Unions Act.
For the same reason Mr.. Delano
~'ould put supervision of all building
and loan associations in Washington
Under the Federal Home Loan Bank
Board, which already has charge of
I'll associations organized under the
Home Owners Loan Act.
The controller urges enactment
of legislation which will prohibit
operation of banks by holding COM
panies.
In case a bank fails to comply
with the controllers Office in con-
nection with certain legal require
ments, Mr.. Delano would like the
right to forbid declarations of
dividends until such compliance has
Fecome satisfactory.
Garfinckel Dividends Voted.
Directors Of julius Garfinckel &
Co.. Inc, yesterday declared the
regular quarterly dividend of 371z
cents share on the company's
0referred stock, payable March 81 to
stockholders of record March IS. and
the regular quarterly dividend of
17l9 cents share on the COM
pany's common stock, payable March
81, to stockholders of record
March Is
Bank Loses Valued Official.
The death of Judge A. A. Hoehling
was a shock to his friends in the
financial district and high tributes
were paid to him today. AS vice
president, director and former trust
officer of the National Metropolitan
Bank, he had rendered the institu-
ton very valuable service over a
long period of years. Because of his
age, his trust officer duties had been
assumed by Stanley D. Willis, but
he kept his Offices at the bank and
his advice was frequently sought.
Wilmer Office Has Record Year.
Bernard L. Wilmer, general agent
for the State Mutual Life Assurance
Co. has returned from the annual
meeting at Worcester, Mass, where
he reported that the Washington
Office had its best year in 1910. An
Office was opened here in 1882. The
Office ranked 18th in production
among the company's SIS Offices in
the United States. Associated with
Mr.. Wilmer are Charles H. Joyner,
Maurice D. Rosenberg, jr.; Leon
Katz, Philip King, jr, and S. G.
Fischer.
Financial Advertisers Meet.
Robert L. Flather, assistant treas
urer, American Security & Trust Co.,
and David Bornet, vice president,
National Savings & Trust Co., will
attend the midwinter meeting of
the directors and Extension Com
mittee of the Financial Advertisers
Association, in Cleveland, opening
Friday. Mr.. Flather is a member of
the Senior Advisory Council. Mr..
Bornet will lead a discussion on
Defense Advertising and Co-opera-
ton in the Defense Profram" Eliot
H. Thomson, Washington Loan &
TrIIct IN ic a1Sn roorobar nf tho