Serene Banking

Not to pay any dividends at all but to put the whole of their profits for the fiscal year 1931-32 into reserves was the unanimous decision last week of Poland's seven largest banks, including the Warsaw Discount Bank (Rothschild) and Warsaw Bank of Commerce (Harriman).

Not among the Big Seven is "the American Bank of Poland," founded by Swedish Ivar Kreuger, suicided Match King, unmasked cheat (TIME, March 21 et seq.). Last week the Kreuger bank announced that only 60% of its depositors have withdrawn their accounts as a result of the Kreuger scandal. It had discharged only 50% of its staff and remained serenely open for further business.

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