Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-01-05
THE SATURDAY HALF HOLIDAY.
A Bill to Amend the Law Agreed Upon Q
Meeting of Bankers.

THE SATURDAY HALF HOLIDAY.
A Bill to Amend the Law Agreed Upon ii
I Meeting of Bankers.
The Saturday half-holiday bill was further
considered at meeting yesterday at the Metro
politan Bank Of representatives of nineteen OF
/ the twenty-three banks and banking institu-
tions Of the city. The following amendment to
| the bill was reported by the committee Of law
yers appointed at the last meeting:
An act to amend an act approved December
| ~. 1892, entitled IAN act making Saturday a
half holiday for banking and trust company
purposes in the District Of Columbia"
Be it enacted by the Senate and House Of
Representative of the United States Of America
in Congress assembled: That section l Of the
act Of Congress approved December az. 1892,
entitled an act Making Saturday half holiday
fo- banking and trust company purposes in
the District Of Columbus" be, and it is hereby,
amended SO "a to read ~ follows:
Section l. That every Saturday which, under
existing laws, shall not become a legal holiday
In its entirety in the District OF Columbia shall
therein be a legal holiday, from IL o'clock noon,
for all purposes respecting the presentation for
payment acceptance. or the protesting or
| giving notice of the dishonor OF bills OF ex-
change. bank checks, drafts, promissory notes
and all commercial paper whatsoever whether
made in or beyond the said District, or whether
made before or after the passage OF this act;
and all such bills Of exchange. bank checks,
drafts, promissory notes and commercial paper
which otherwise would be due and payable or
| presentable for acceptance payment, In said
District such half holiday Saturday, shall
therein be due and payable or presentable for
acceptance or payment. on the secular Or BUSH
ness day next succeeding: Provided however,
that any acceptance or payment thereof, with
interest thereon to said date, when the same
bears interest made on such half holiday Satur-
day, before IL o'clock noon, shall be lawful.
And all bills of exchange, bank checks, drafts,
! prOmissory notes and commercial paper what
soever, which, but for existing law, would be
due and payable or presentible for acceptance
or payment, in said District, on any day which
is full legal holiday. or on Sunday. shall.
therein, be payable or presentable for accept
ance payment, on the secular or business
day next succeeding, and all acts and parts Of
acts, so far inconsistent with this act are
hereby repealed.
COMMITTEE APPOINTED.
The amendment was adopted and commit
tee consisting of C. G. Glover of Riggs u Co.,
B. II. Warner of Washington Loan and Trust
Company, ]. ". Thompson of National Metro
| politan, T. kurtz johnson Of Citizens, F. G..
Stevens OF West End and Jas. NJ. johnson and
". r. Mattingly, lawyers, was appointed to urge
| its passage BY Congress.
resolution to the effect that tho different
| banks, banking institutions and trust COM
panies give notice that they would close on
Saturday, January 2, 1898, and upon each and
every succeeding Saturday thereafter mot a
whole holiday their respective institutions for
the transaction of business after 12 O'Clock
| noon was adopted end was signed by twelve in
| situations.
Some of the institutions represented were
American Security and Trust Company, Wash
ington Loan and Trust Company. National Safe
Deposit. Savings and Trust Company. Traders
West End, Metropolitan, Citizens Columbia,
Second, Capital, Bank of Washington and Ohio
National banks, Union Savings. Riggs h Co.,
Bell 4 Co., Carson 4 Mccartney and Crane.
Paris 4 Co. John W. Thompson presided,
with Charles P. Williams secretary.
NO ACTION OF THE BANKS.
Next Saturday will not be observed as a half
holiday by the banking institutions of the city
as the recent law gave them per Dission to do,
unless a change is made in the position of one
or two Of them as announced today. A paper
was circulated among these institutions TO
day and signatures were obtained from the rep
| resentatives of sixteen Of them to a paper
| agreeing to close at IL o'clock on Saturday.
All the signers attached their names on the
condition that to make sthe agreement oper-
alive all the institutions must 60 in.
1t found today that the Central Bank
people were unwilling to sign, and as the Ohio
Bank had previously declared that they did not
intend to close, that left me paper without the
two signatures that necessary for the re-
quired unanimous action.
THE PROPOSED SUBSTITUTE.
President John W. Thompson of the
National Metropolitan bank and President f.
kurtz johnson of the Citizens National
Bank, called on Senator Mcmillan this morn
ing and left with him a copy of the bill which
the bankers of this city have decided upon
as the best substitute for the bill making Sat-
nrda hal For hapk arG
posed substitute will be called up at the meet
| ing Of the District committee tomorrow morn
| ing. They also left with Senator Mcmillan the
| following statement:
The object Of the proposed amendment is
/ to correct absolute inconsistencies and to
remove antiquities the face Of the bill
approved December %, among others the fol-
lowing doubts arise:
First, the title of the original act covers all
banking industries in the District of Columbia,
| but the enacting clause refers only to banks in
the city of Washington. Query: docs the law
| apply to banks in Georgetown and AnacOstia?
Second. the principal enacting clause refers
| to all commercial papers. whether made before
| or after the passage of the act. The provision
suggests that the act ia limited to commercial
| paper made after the passage of.the act.
Third, the same proviso appears to exempt
| from the operation of the principal enacting
| clause bills payable at sight demand.
| This appears to be without reason and creates
| serious confusion.
! Fourth. the last clause of section one reads
that nothing in this section shall affect any
legislation applicable to any Saturday whenever
the same under the provision of said section
shall be legal holiday" but section one does
not affect such previous legislation.
Fifth. 1t is not clear whether a note can be
lawfully paid before II o'clock half holi-
day Saturday, or if so paid to what date inter-
est shall be computed.
Sixth. The clause without reference to
whether any OF said banks or trust companies
do or do not close aforesaid seems to imply
that banks may ignore the other law at their
election SO that it would be legal half holiday
at some banks and not at others.
WANT TO USE DUMMY.
An Amendment Urged to the Burnt Mills
Railroad ELL.