Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-02-23
TALK ABOUT BANKS PROBE FOR HARTMAN
Rumor of New National nsti Government Inquiry Into Ex
tuition to Be Started. ampes of High Finance.
THE DOWNTOWN SECTION CONTROL OF RAILROADS
Effort Attorneys for the Inter
ulate Hours Commerce Commission.
AIM UNION PACIFIC STOCK DEALS
Mondaycon
to Chicago and Alton
Summoned a a Witness
THE DOWNTOWN SECTION
Clearing House and an Effort to Reg
ulate Hours.
GREATER UNIFORMITY THE AIM
It is Asserted That the Banking Day
is, According to Current Prac-
tice, Not Fixed.

There is a good deal Of interest shown
In financial circles over a rumOr that has
been going about for some days past to the
effect that an effort Is being made to or
ganIze a new national bank In this city.
According to the common report this move
ment Is conferred about Mr.. George c. Hen
ming. who was formerly the president OF
the Traders Bank, and is now connected
with the Washington Safe Deposit Com
pany. Ole Pennsylvania avenue.
1t Is said in the event this movement ma
lures that the new institution will be To-
Gated in the building of that company. One
Of the features of the new enterprise, &C
cording to the story which Is a6oat, is
that of a night bank.
This rumor of the proposed addition to
the number Of financial institutions whose
hours are different from the generally &C.
cepted hours of banking has led to good
deal of discussion among financial men as
10 whether some attempt ought not be
made to have uniformity in regard to BANK
ing hours in this city. There Is at present
only one bank which might be called
night bank, and that one has continuous
banking day from the opening hour In the
morning until II o'clock at night. In the
case of all the national banks and trust
companies of the city the banking hours
observed by them are from $50 to o'clock
but nearly all of them on five days of the
month following the two pay days of the
government keep open their institutions
until ) O'Clock.
Further Deviation.
In recent days there has been still
further deviation from this general GUS
tom. and this has been due to the savings
banks or savings departments of national
banks In the case of the latter the hours
are quite irregular and in nearly all in
stances they remain open until 9 or 10
o'clock every Saturday night. and perhaps
there are one or two that proiong the bank
ing hours on other days of the week At
any rate. 1t Is recognized that there is no
uniformity in the matter, and with the view
of bringing this about 1t Is understood that
the matter is to be taken up by the clearing
house.
In Baltimore quite recently the clearing
house issued an order in regard to banking
hours in that city which resulted in put
ting out OF business the night service
which one OF the national banks had estab-
hshed. AS a result there Is no night bank
now In that city. While the clearing
house in this city Is confined in its men,
bership to the national banks, yet all of
the trust companies and savings banks in
the city clear through that institution by
the medium of one of the members. 1t
would be possible. of course, for the clear
ing house to enforce any regulation that
1t might see fit to adopt on institutions
which are now members by simply refusing
to cash their checks. 1t is not supposed,
OF course. that the clearing house intends
to pursue any arbitrary policy. but its
powers are simply mentioned showing
that 1t has some Jurisdiction in the matter.
1t Is not known, of course, what action
the clearing house will take, but If 1t
should decide upon a general schedule of
frnr N.gf To r'N
on the five days of the month, it would
quite seriously curtail the banking hours
that are now observed by various institu-
lions in the city.