Evening star. [volume] (Washington, D.C.) 1854-1972, 1892-12-31
THE SATURDAY HALF HOLIDAY.
No Agreement Yet as to Carrying Out the
New Bank Law.

No Agreement Yet as to Carrying Out the
New Bank Law.
II lie probable tha. half holiday on Saturday
will become generally observed custom in this
city, as it 10 in several OF the large cities Of the
country. The recsn, bill passed BY Congress
makes 1t lawful '':or trust companies, banks
and bankers in this city to close their doors for
business at u O'Clock noon on each and every
Saturday in the year"
The Law further provides that every Saturday
in the year after II O'Clock shall be q legal half
holiday so far a. regards the presenting for the
payment OF acceptance and the protesting OF
giving notice Of the dishonor OF h.lls Of ex-
change, bank checks. drafts, promissory notes
and other negotiable paper" For these pur-
poses II is provided that the period after l2
O'Clock on Saturday shall be treated and
considered as the first day OF the week. com
monty called Sunday. As will be noticed the
first clause OF the law is not mandatory, but
permissive, and its effect is merely TO
give legal authority to the concerns
named to observe half holiday on
Saturday IL they so desire. The
passage of this bill was q surprise to most of
the bankers Of the city, Asthey hsd not been con-
suited In regard to this measure The represent Ia
tives OF the various banks and banking concerns
have held . meeting TO decide upon some plan
OF action.
TO BE DECIDED NEXT WEEK.
further meeting viii be held next week.
when 1t will be known what the several institu-
tions will do relative 10 observing the half
holiday. 1t seems to be conceded that
whatever IL done must be the result OF
united action and unless all those institn-
mons agree TO close theu doors
the half holiday viii not be observed here.
There are some features OF the bill which are
considered to be Of minor importance,
but the practical effect is not ex-
actly understood. There are also some
changes which it is thought may
make the law clearer. At the recent meeting
lawyers was appointed to examine the bill care
fully, with the view OF suggesting changes
which may be offered as amendments TO the
law.
AN oppIrY OF LAW.
One feature Of the law which was designed
primarily to benefit bank employees gives .
rather odd turn to its practical workings
While that part relative to closing the
banking places lie merely permissive
and leaves to the discretion OF
the banking officers whether they will avail
themselves Of the authority granted the fol-
lowing section 10 mandatory and makes each
Saturday from IL O'Clock a legal holiday as for
as bank paper ia concerned.
The holders of maturing paper on last Satur-
day enjoyed half holiday and also today while
the employees in the various banking institu-
tons worked the usual number Of hours. One
reason urged In behalf Of this half holiday is
the custom which has grown up here among
business men of deferring their salary pay
ments, &C., until Saturday.
SATURDAY A RUsF DAT.
The consequence ia that on Saturday after
noon more business is done by great majority
Of the banks than on any other day during the
entire week. This must pile up the work on
the employees, and Saturday it is usual for the
clerks to remain at their desks until and 8
o'clock As they begin work at 8 o'clock
1t makes pretty hard day. 1t is
believed that as soon as the public understand
about the proposed half holiday that it can be
observed without any inconvenience, the only
difference being that the business instead Of
being compressed into . few hours time on
Saturday will be distributed over several days
in the week.