Evening star., 1943-06-20
Banks Note Treasury Order

DdHkS NOtc treasury Or0er.
In another section of The Sunday
Star Washington banks call special
attention of all patrons to the recent
regulation issued by the Treasury re-
quiring reports by all United States
citizens on property held on any
foreign country. The members of
the District Bankers Association are
anxious to notify citizens of this new
and very important Treasury order
which affects so many people.
Reports must be filed by Ameri-
can citizens and corporations own
Ing property in foreign countries
with the Federal Reserve Bank of
their district on or before August
81, l943. Reports must be filed by
reporting persons outside Of the
United States with United States
consuls on or before September 80.
There are some exemptions, full
details being available at the banks.
There are also severe penalties for
failure to file the reports.
Building, Loan Clubs Climb.
The increase in funds invested in
building and loan associations dur
ing April was more than double the
gain for the same month last wear,
James Twohy, governor of the Fed
eral Home Loan Bank System, re-
ported yesterday.
In April, 1912, building and loan
associations as a whole experienced
a net gain of SIG 900 in receipts of
share capital over Withdrawals. A
year ago the net gain was SAL
100000.
In the u months ended April 30
the excess OF new investments over
Withdrawals amounted to s491 ,6O8,-
900, Mr.. Twohy said.
Stocks Strong on Exchange.
Stocks were unusually strong on
the Washington Stock Exchange
during the week, several new high
marks being reached The years
first sale in American Telephone
caused much comment at the daily
session. At 1921, the stock Yields
585 per cent.
Department store sales from Jam
uary l through June u in the fifth
district were 13 per cent ahead of last
year, the Federal Reserve Board re-
ported yesterday. This is the same
gain as the average for the II dis
trlcts. Dallas topping the list with a
40 per cent upturn.
Henry w. Koenecke, president of
the American Bankers Association
last year, has resigned as president
and director of the Security Bank of
Ponca City Okla. His future plans
are unannounced, except that he will
leave Ponca City.
ABA Membership at Peak.
-Four North Carolina and one
South Carolina bank were among 81
Joining the American Bankers Asso-
clation in May, bringing the total
membership to l4,514, or SO per cent
OF the Nations banks, a record
hitherto unsurpassed.
In a look at bank stocks, Hare's
investment service asserts that bank
earnings are now the most favorable
IN the last II years and expects this
situation to continue.
Inc last OF the annual elections of
District Bankers Association groups
Will take place next Thursday night
when the auditors section meets at
the Wardman Park Hotel. D. D.
Whltcraft, present chairman, is
slated to be succeeded by James C.
Elgin. Officers of the Bankers Asso-
ciatlon will be special guests.
Dairy Income 100000, 900.
Income from the dairy industry in
the Fifth Federal Reserve District
IN l942 aggregated more than s10O.-
ooo,0O0, a new record for this terri
tory, the Federal Reserve Bank of
Richmond has just announced,
The war has had definite inf1uenc.
on this industry, for the 1912 income
represented an increase of 65 per
cent over the prewar 1899 income
ana OF rs per cent over the 1871
total, compared with more gradual
upward trend since the trough of
the depression in 1879