Evening star., 1909-03-06

banking room of the Columbia National
Bank, as we'll as additional facilities for
customers. Is being considered by COM
mttee of the board of directors.
At present the vault separates the
counting room from the office OF the
president and the directors room. 1t Is
suggested that all this space be brought
into the main Office by setting the vault
room can be made In a sort of mezzanine
floor, which can be built on the top of
the vault near the rear wall Of the build
ing.
AS this banking room is a one-story
affair with a lofty ceiling extending to
the roof. there is an abundance of room
at the top and that Is what Is planned
to be used now as the volume of
business has outgroWn the space assigned
for it when the building was erected.
At that time such a thing as separate
window for ladies was unknown, and In
consequence the original plan of the
banking room of the Columbia Bank did
not provide for such convenience. But
now it is proposed to have such facilities
for the woman customers of the bank
as we'll as more room for the other Gus
toners.
1t is quite evident that those familiar
with the business of financial institu-
tions and the extent to which such facil-
tiles are provided in this city are OF the
opinion that the field here is we'll covered
and that there is no occasion for any
addition to the number. 1t was thought
quite recently at least one institution OF
this character would be started. but the
combination of circumstances which was
looked upon as likely to call 1t forth has
passed without anything of the sort hap
peninS.
One Inference drawn from this incident
Is that to the eye of experienced men
acquainted with local requirements there
was not only no call for new concerns
but that the prospect of success was not
encouraging enough to warrant taking
twelve national banks and five trust COM
panies here-all of the latter required to
have capital of at least Il million DOL
lars-and besides. eleven savings banks
All these institutions are under the
supervision of the controller of the cur
rency. in the same fashion as are the ma
tional banks of the country. 1t Is neces-
sary to conform to certain requirements
as to capital and so forth before an in
stitution can be started. SO that anything
in the nature of a wildcat institution is
absolutely Impossible in this city.
1t Is believed that in number and IN
Capitalization, and in convenience OF &C
cess and accommodation for doing busi-
ness, the financial institutions of the city
are amply covering the field. AS to the
other phase of the question, as to whether
they are providing all the money needed
for doing the current business of the city.
d
different opinions 1t may be said that
in general, however. there is larger
percentage of the money that ts actually
used to finance undertakings here that
comes from local sources than ever be-
fore. There is not so much heard to-
day about philadelphia money" when
some realty undertaking of large size is
being financed, as was the case some
years ago.
financial institutions claim that all the
funds needed for local uses are supplied.
and all demands of that sort are met.
But then there are found men who COM
plain that the practice of sending money
TO Institutions III large centers where it
is kept on call and on interest is still
more common here than 1t should be
There has not been much heard on this
subject in recent months. as. of course.
the demand for funds of that character
from large banks has fallen off, as the
current of business has diminished dur
ing the period of the financial depression
and the time of recovery.
When interest rates advance and the
current of business swells. and there is a
need for funds. then will come the pres
sure from the centers. and especially
from New York. for money. 1t is assert
ed, and also, as stated, it is denied, that
there is too great a tendency in banking
circles here to loan out the institutions
funds in that way rather than supplying
the local demand that comes from those
who want money in their business.
Leaving money in banks subject to i'm
mediate call in comparison with putting
it out on notes and collateral. Is called
''easy banking" for it requires no thought
or special knowledge on the part of the
banker. 1t is easy for the banker and
perfectly safe for the bank, but 1t is
hard on the community where the money
is needed to carry on and broaden out
its commercial and other material inter-
eStS.
1>ov, lit l..
able for loans are more and more being
used in this city for local purposes, and
the opportunities for outside money to
find temporary remunerative service here
are lessening each year.
There is perhaps no interest in the city
that profits more from the inaugural
| crowds than that which Is represented by
the financial institutions. This profit does
| not come from supplying the immediate
needs Of the throhgs. 1t is needless to say,
but from the substantial gains which the
! city receives every time when people have
| a chance to see for themselves the ad-
vantages and the attractions Of life in
Washington. 1t Is the life not of society or Of
political renown or Of any other call of
ambition that is wanted. but il is be-
| lieved the large bulk of those who re-
move their homes here do SO to get good.
wholesome surroundings for themselves
| and their families, with, of course, the
usual facilities of modern living.
Those of what might be called the
! leisure class (for lack Of a better term)
have their bank accounts and their in
vestments to make, and they are used to
and need banking connections and facIli-
ties. and so the officials of the local insti-
| tutiOns find in them many new customers.
1t Is not meant to be implied that any
large proportion of those who come hera
| to take part in the inaugural festivities
fail to go home and are kept here by
the charms of the place. which they are
unable to shake off. But there Is a per-
centage of the people who come here on
| such occasions as well as on others who
take away with them permanera impress
sions OF the city as place of residence,
! and while 1t may not result In any I'M
, mediate action on their part, yet when
| the time comes when they can shift their
| homes If they desire to do SO. then the
| picture of Washington which has re-