Evening star., 1943-09-07
0PA Allows Banks
Higher Rates for
Ration Services
BY EDWARD c. STONE.

ti Washington and all other bank
An the Nation were notified today b.
glthe Ration Banking Committee o
ethe American Bankers Association
and by the once of Price Admin
istration of new and highe
schedule of payments for this serv
ice.
The new schedule doubles the ratt
for opening new accounts and fol
deposit items and includes $40 PEI
month payment to banks for theil
work in preparing reports and keep
ing up with the OPA regulations
The new rates are retroactive tt
5uly of this year.
A new 20-cent per envelope fee
for verifcation of contents is also
Included, retroactive to September
/. A switch to plastic tokens fol
smaking change" on ration coupons
viii greatly tighten the work of both
the banks and ration coupon de-
positors.
The rate for opening the first
account for any depositor is now
so cents against 80 cents on the ole
basis. For each additional account
for the same depositor at the same
banking Office the rate is now &c
cents against cents under the old
plan. There are many other rates
Of vital Importance to the banks
but not so important to the general
public.
The new rates were agreed upon
after a great amount of study. 1t
was found the original charges did
hot nearly cover the cost of opera
tion as ration banking expanded
And covered more and more differ
ent items. 1t has been long wait
and washington bankers expressed
wide satisfaction today over the
ABA-OPA announcement.
Bankers See Capitals Growth.
In the midst of war some scat
tered indications already point to
hopeful developments in Washing
ton after the war is over and the
Government attempts to return to
peacetime operations.
! According to one banker who has
been studying the trends, and the
straws in the wind, the National
Capital is going to be more and
more the center toward which the
American people and their business
will look.
/ Not that the Government should
increase its trend toward more CEN
tralized control-rather, private
business apparently is hoping that
such centralized control will de-
crease.
But big business, having become
Accustomed to look to Washington
as the principal capital of the dem
ocratic world, already is beginning
to feel out the possibilities OF To-
eating certain representatives here.
not for lobbying in the halls Of Con-
gress or the executive departments,
but as one of its business headquar-
ters.
For instance, it was learned that
one of the largest corporations in
the country-one of the heavy in
dustries-has begun to consider es-
tabnshing an important regional
sales Office here.
The war effort naturally has
drawn to Washington. representa-
tives of virtually every Industrial
and business activity because the
Government has such far-reaching
influence on them. Just as many of
the business associations which came
here during the NRA days remained
In Washington, some observers be-
lieve that additional experts of all
kinds who have come to Washington
for the war effort will remain here.
Use of Small Banks Urged.
Secretary Morgenthau urged to-
day that corporations participating
In the $4,000 ,OO0, 600 third war loan
purchase their securities through
the banks in which their funds are
deposited.
! This he said, would obviate large
shifts of deposit balances and avert
possible disturbances to bank re-
serve positions that might occur If
purchases were made only through
large banks.
! Corporations, insurance COM
panies and other non-banking con-
Germs are expected to subscribe to
two thirds of the 100000, 900.
Exchange Trading Heavy.
/ Riggs National Bank common
stock reached a new 1943 high on
the Washington Stock Exchange to-
day when seven shares changed
hands at 30l12
Trading was exceptionally heavy
In the first session after Labor Day
Washington Gas common was close
to the high for the year at 23hs
Washington Gas IS preferred was
in excellent demand at 100, the 1943
top price.
Capital Transit was strong at
s04 and Potomac Electric Power
b12 per cent preferred hit a new
high at 1852.
Waldo w. Young, assistant cashier
pf the Anacostia Bank. will repre-
sent the institution at the ABA war
conference in New York, President
w. L. Koontz announced today.
Brokers in exchange Offices said
today that a good many traders
looked for an after-Labor Day ad-
vance. However, they expect the
market to remain very selective.
The ticker announced a prediction
BY New York merchants that Christ
pnas trade will equal the best pre-