The Washington times., 1911-03-26

The election of George w. White
president of the National Metropolitan
Bank to the presidency of the Bank
ers' Association of the District OF
Columbia, and the spirit manifested
at the annual meeting of the organi-
zation last week, promises we'll for
important action in the interest OF
the banking fraternity of the Capital
The junior officers of the various
banks have promised to be to the fore
with the seniors in advocating re-
forms and closer relationship that
viii make for the prosperity of their
institutions, the convenience of Gus
toner's and the interest of sharehold-
ers and depositors alike.
one Of the leading suggestions that
mas been made to the newly elected
In the interest Of all bankers, is the
interchange of credit informatio be-
tween CITY banks. making IL impossible
Ior would-be borrowers who have been
9naole or unwilling to promptly nqui-
cate obligations with one bank TO ex-
tend their credit with other institutions
Thls Is direct line with the work that
tne examiners of the Comptroller of the
Currency's department are doing, but
they are only exchanging the informa-
able knowledge is made available for
the men who are obliged to pass on ap-
pl1cations for accommodations.
Another measure and one equally i'm
portant and partially in the same line.
is the probable adoption Of a uniform
formula for the statements of would
be borrowers as to their financial condi-
ton. assets, liabilities, etc. There is no
uniformity in the statements as made
today. each bank having its own form
ula which applicants are expected to
fill out. A fraudulent statement makes
the signer liable for obtaining money
under false pretenses. II is also proper
that the same credit information be
Eiven to the various banks-the same
questions propounded in the statement
that the information be full and repIete,
leaving no loophole for escape from
facts Of vital import.
1t Is the intention of some of the
bank officials to work through the as
soctation for the making of Washington
"a free CITY," in the matter of securing
the same treatment of Washington
checks by New York bankers, as ac-
corded TO Philadelphia, Baltimore, and
other cities. 1t has been the custom OF
bankers in New York to make charges
for collections on Washington checks;
and 1t is expected that this practice will
be Yoided just as soon as the effort to
stop tI is made.
The decision of the association to hold
four meetings year is move In the
right direction. and promises more har-
mony. less jealousy, and more unanim-
ity OF action in the mutual interests OF
the membership which practically in
cludes the banking fraternity of the
city. But IL is only a step in the right
Monthly meetings, other than
during the off-season months. would be
more to the point. The oftener the
bankers meet, the less the friction. Lit
tie anImosities and jealousies fade be-
fore the good feeling engendered by
pleasantries, and good
things to eat.
There Is promise in the added interest
In the organization that many OF the
extended by the banks,
for which only a thank you" is ever
received. will be turned into revenue
producers. 1t costs money to collect
checks: to cash drafts drawn on othe-
cities; to carry accounts that will not
even produce sufficient to pay for the
necessary clerical work. If one bank
these gratuities, others must
follow suit. The association ought to
.urb extra expenses.
Within a comparatively short time
)ne or two mergers Of savings banks
will be completed. This movement
Dught to meet the approval Of everyone
Interested. Washington has five trust
twelve national banks, and
fifteen savings institutions The fight
or deposits is fierce-because they are
he money makers. Mergers make for
stronger banks, and perhaps lessen the
All of the fiscal institu-
ions are believed to be safe and sound
'ome are very strong, and the absorp-
ion of some of the less favored would
1e an assurance of lessened danger
when conditions are unfavorable.
Tuesday, Wednesday. and Thursday