24 Aug 1925
Page 1
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This newspaper page contains 4 articles. Subscribers can read the full text of each article.
Newspaper
Indiana Evening Gazette
Location
Indiana, Pennsylvania, United States of America
Date
Aug 24, 1925
Page
1
A discussion of how dormant bank accounts in New York are handled, the rarity of large sums, and the risks of fraud. Bankers note most dormant accounts are under $50, with averages around $16.75, and laws compel diligent search for owners. Some cases see funds turned over to the State after twenty years, while claimants and scammers occasionally surface with limited success.
A banker urges reporting what people gave rather than what they forget. He notes that last year the savings banks of the five boroughs of New York showed a gain of about 220 million dollars in deposits, roughly 600 thousand dollars saved each day.
A reporter describes a new high frequency radio relay device weighing about half an ounce, claims 500 watts can enable telephone communications with New York or New Zealand. The article notes the technology could surpass existing telegraphy with simplified design and potential world communications reach.
Harrisburg Aug 22 IN S The 785 state supervised banking institutions in Pennsylvania held total resources of over 4.01 billion dollars on June 30, up nearly a quarter of a billion from a year earlier. Depositors rose from about 4.87 million in 1924 to 6.04 million in June, while private banks decreased by 16 and six state banks closed, with trust companies up by 20. Dividends totaled 23.19 million.
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