Evening star. [volume] (Washington, D.C.) 1854-1972, 1943-07-14
Individual Banks
To Determine Own
Late Hours Here
By EDWARD c. STONE.

Following action by the Washing
ton Clearing House Association, thu
Districts banks are now working ou
their own late hours and deciding
on what days they will remain oper
to serve the public on paydays.
The Clearing House recently
amended the rule making it neces.
sary for all the banks to remain
open on the 9th, 18th, 23d and las
days Of each month and left it tx
each bank to use it's own judgment
in the late hour program.
The four late days were adopted
when Government paydays were
spread from two to four each month
When the four-day schedule was
changed to schedule of 20 paydays
each month, the old hours were
needless in many banking offices. the
payday scramble to get checks
caShed at the bank windows being
over.
Under plan adopted some
months ago the banks now cash
Government checks for all corners
regardless of whether they have ac-
counts with the banks where the
checks are presented.
Banks will remain open late in the
afternoons on days when nearby
Government departments are pay
ing off, it was said today. In this
way they will best serve the Sec
tons of the city, in which they are
located. If a big Government de-
partment pays off every other Fri
day, the nearest banks will remain
open on those afternoons.
Among the different banks and
trust companies there will be no
uniform hours. The most popular
late days, however, will continue to
be the 18th and the last days of
each month. Those dates are still
popular paydays and the end of the
month always brings great deal of
extra work in all banks.
Assets Above S8,00O,000.
Assets eof the Columbia Federal
Savings & Loan Association have
crossed the 100000 mark for the
first time, according to the list
semiannual statement being distri-
buted today. The report shows
total resources of $8,280.216, with
reserves and undivided profits of
$446,210.
The association holds more than
100000 Of United States Govern
ment securities in its portfolio while
first trust loans are listed at $780,
224. The semiannual dividend paid
on June 80 was at the rate of 3 per
cent per annum, Clarence E. Kefau-
yer said.
Pepco Output Up Sharply.
Kilowatt hour sales of the Poto-
mac Electric Power Co. in June in
the District of Columbia showed a
striking increase of $3.50 per cent
over June a year ago, company Of
f1cials announced today.
June sales reached 1898 918
kilowatt hours. compared with 96,-
210,551 XVIII. in June, 1912, an in
crease of 22,613.367 hours.
Sales to railroads and railways
amounted to 11,206,361 XVIII, an in
crease of 1,378,720, or 14.03 per cent.
Public street and highway lighting
sales were 1892 per cent higher than
a year ago.
Other sales totaled 106,911 ,062
XVIII, an increase of 21,096,319, or
24.87 per cent, the report stated.
Regular Dividend Declared.
Directors of the National Savings
& Trust Co. have declared the regu-
lar quarterly dividend of ST per
share on the capital stock, payable
August l to stockholders of record
July "a, President Bruce Baird an
nounced today.
Directors of the Lanston Mono
type Co. have declared a dividend
of so cents per share on the out
standing stock, payable August 81
to stockholders of record August 81,
1t was announced here today. The
company paid a like amount in May
and Is cents in February of this
year.
Washington Gas common, both
Riggs Bank issues and American
Telephone are being quoted ex-divi-
dend. All other recently declared
dividends hav beeen paid.
There were 118 new highs on the
New York Stock Exchange yesterday
and no new lows. There was a good
deal of comment in the offices here
today over the increased activity in
the rails.