Evening star., 1949-10-31
D. T.. Bank CIearinqs
Reach New Record
For Ten Months
By Edword G.. Stone

Bank clearings in Washington
continued to mount in October
and set a new record for the first
10 months of any year on record,
George H. Bright. Clearing House
manager, reported today.
October clearings reached the
surprising total of $341, ,709, 1922
against $311, ,672,9 ,901 in October a
year ago. an increase of $30.036.-
920. or 9.6 per cent. This is one of
the best monthly gains of the year
In the 10 months, clearings
climbed to $3,195,719, ,72e, in COM
parison with $2,997 1856 in the
like 1948 period. This Is a jump
Of $197,773.075. a sc per cent
rise and a new high mark for the
period.
Bankers pointed to booming
general business conditions in the
Capital as the main reason for
the striking advances. The new
sales tax would make some in
crease to clearings, they added.
Christmas Club Banks Listed.
Washington banks which are
planning to revive their Christ
mas Savings Clubs were listed
today, the clubs to reopen early
in December.
The Hamilton National will
maintain the clubs in the Penn
sylvania avenue and Shepherd
Park branches.
Others in the list include the
National Bank of Washington.
Bank Of Commerce g. Savings,
Washington Loan & Trust Co.,
City Bank. National Savings &
Trust Co. and Second National.
The Industrial Bank has main
tanned these clubs for many years
and will continue the program
again In 1850. Many suburban
banks also will offer this method
OF saving to their patrons.
Members may open $25, $50,
500. $500 or $1,000 clubs, making
the payments monthly or semi
monthly. Some banks will use
stamps instead of pass books to
reduce the amount of bookkeep-
ing.
Work Starts on Branch.
Ground will be broken this
week for construction of the Ma
tional Metropolitan's new branch
bank, to be located at Fordham
road and Forty-ninth street NV,
which is to be built by w. c. &
A. N. Miller. The branch will
contain more space than required
for bank purposes.
The structure, of Williamsburg
Colonial architecture, will offer
complete banking facilities, in
Guiding "drive-in" to allow
patrons to transact business with
out leaving their automobiles, ac-
cording to announcement by C..
F. Jacobsen. president. The new
building will be the banks first
branch.
Agency in New Quarters.
The Kronstadt Advertising
Agency is celebrating its 10th an
niversary in the agency business
by moving into new and enlarged
quarters in the Kass Building,
I'll Fourteenth street NV.
Harry L. Kronstadt, partner,
opened the Office here 10 years
ago after connection with the
advertising business in Newark,
Brooklyn. Macy's in New York
and Lansburgh's in Washington.
During his three years in the
service, the agency was operated by
his partner wife, Claire Kronstadt.
Bank Award Announced.
Miss Virginia Engelken, of Gin
cinnati, was announced winner Of
the Jean Arnot Reid Award, by the
Association Of Bank Women, at
the San Francisco convention. The
award, which always arouses wide
interest among Washington bank
women. is presented for the high
est scholastic averages in the
American Institute of Banking. It
includes an engrossed scroll and
$11 in cash.
Miss Engelken is supervisor of
the business development depart
ment of the Central Trust Co., Gin
cinnati, edits a house organ, is
active in the Institute Chapter,
and is a wellknown contralto solo,
iSt.
Senator Bricker, William K.
Divers, chairman of the Home
Loan Bank Board, and Fulton
Lewis, jr.. radio commentator, will
be headline speakers at the United
States Savings and Loan League
Convention, opening in Chicago
Nov. %.
Peterson to Lead ABA.
F. Raymond Peterson, chairman
OF the board of the First National
Bank & Trust Co., Paterson, N. j.,
is slated to be the next president
OF the American Bankers Asso-
ciation. He will succeed Evans
Woollen, jr.
c. Francis Cooke of Roanoke.
Va, chairman of the Federal Leg
islative Committee, is one of the
leading candidates for the ABA
vice presidency. Reports indicate
q lively contest.