The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-12-30
BANKS IN FUTURE
. T0CLOSE AT z P. NJ.
New Clearing House Schedule
Goes Into Effect On and
After February I.
SOUND REASONS FOR CHANGE
-------------
Mr.. Miller Explains Benefits to
Officers-No Hardship on
Public.
SOUND REASONS FOR CHANGE

| In order to conform to the custom
of larger cities, banking hours in Rich
mond on and after February / will be
from 8 A. NJ to 2 P. NJ The present
closing hour Is 8 p. NJ. The change
has been made by the Clearing House
Association in order to expedite the
collection of country checks and the
early dispatching of mails, and to
eliminate the custom heretofore pre-
GERS go out to lunch during business
hours. When the new system is in
vogue all officers will be in place for
the five public hours of banking bust
ness without interruption.
Approved by Attorney.
the action has been under consid-
Grafton for some months, and was
finally approved at meeting of the
Clearing House Association held on
Wednesday afternoon. That action was
taken subject to the opinion of the
attorney for the association as to the
Legality Of the action and its con
tormity with the national banking
laws. Attorney. George Bryan delivered
a written opinion to President William
II. Palmer, of the Clearing House AS
ISOLATION yesterday morning to the eff
authority of the association, and it
was at once announced in all the
banks that the early closing would
take E,e effect from February l.
iC new ult u Liz SItdIlHS t1Ou56
will affect all the members of the
association; that is. all of the larger
banks of the city, and all banks clear
ing through members, which practi-
in Richmond
Miller Gives Reasons.
John NJ. Miller, Jr.. vice. president
and CASHIER OF the First National
was result OF. tho steadily increasing
volume of business of the Richmond
banks
, Hours of banking in various cities"
local conditions and the running of
mail trains. In New York City bank
ing hours are from 10 A. n; to P. NJ.
Charlotte, n. G., and Atlanta have
Richmond more than almost any
city of its size of which I know Is a
1obbng centre. Our wholesale houses
deposit an enormous number of coun-
try checks for collection. and by clos
ing an hour earlier we will have a bet
ter chance for working out the bank
mails and in many cases save day in
collectl3n-ho an inconsiderable item
Where large amounts are involved.
Catch Early Trains.
by closing at 2 o'clock large part
OF the bank mail can catch the 515
T. NJ. l., Sea p. train for New York
on the first delivery without fail
while practically all of the Northern
bank mail can be ready for the $500
p. NJ train. AS 1t is now, sometimes
on heavy nights our mail is not all out
until or o'clock. Besides the New
York mail, there are heavy mails
North. East, South and West, leaving
on afternoon and evening trains 1t IS
of the greatest Importance to all the
banks that this large volume OF out
of-town checks be worked over and
mailed In ample time to catch trains
and so reach their destination as early
as practicable on the following day.
Uniform lunch Hour.
"A matter In which customers Of the
banks are more interested is the an
noyance of finding officials and clerks
out at lunch. Those having accounts
with any bank coming in for trans
action of business between 1890 and
2 o'clock are liable to find their indi-
vidual bookkeeper or the man who is
handling their Transaction, of the bank
official with whom they desire to deal
out at lunch. With clerks reporting
for duty at A. M. 1t has been mani
testify impossible to work through
without time for luf1ch. and during
the busiest hours of the day nearly
one-half of the force of any bank
Is liable to be out.
1T Is understood that under the new
rule all of the banks Will require all
Of their clerks and officers to be In the
banks continuously from to O'Clock,
In order to wait on the public in the
most efficient manner possible. After
2 o'clock the banks will arrange a din
ner hour, following which the books
can be posted and the mails dispatched.