New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-06-13
NEW POST FOR HANNA
Becomes Chief Examiner for
Clearing House Association.
TRUST COMPANIES BEGIN
First Clearings Since Admission
to Membership Cause Little
Delay and No Friction.

! Charles A. Hanna, national bank axam.
iner in this city. was appointed nv The
Clearing House committee yesterday 10 be
chief examiner for the Clearing House As
ISOLATION under the plan adopted several
weeks ago for instituting system Of nri.
vate examinations Of member banks. these
examinations 10 be both more fraouent and
more thorough than can be those which
are conducted by the national and state
bank examiners. The system has for 2
considerable time been in successful opera
ton in a number Of cities in the West. and
the post of chief examiner here was az
first offered 70 James p. McDougal. who is
az the head Of the staff Of examiners en-
ployed by the Chicago Clearing House As
ISOLATION.
When Mr.. McDougal decided not 70 leave
Chicago the special committee charged
with the task Of filing the new Office
promptly selected Mr.. Hanna. The new
chief examiner. whose salary, II is under
stood. will he $4,000 year. will proceed as
soon as possible 10 organize his force Of
assistants. who are expected 70 number
seven or eight. and who will receive liberal
salaries. and within two or three months
the system Of inspection Will be put in full
operation.
Mr.. Hanna vas born az Cadiz. Ohio. IN
December. 1858. From 1892 70 1897 he was
vice-president and director Of the First
National Bank Of Lincoln. Neb a director
Of national and state banks in several
cities and towns Of Nebraska. and treasurer
Of the Nebraska Stock Yards Company. Of
Lincoln He has been national bank exam
irer in this city since 1899. and became
widely known for his work at the tine OF
the panic Of 1907. especially in connection
with the failed National Bank of North
America. OF which he was appointed re-
ceiver. Mr. Hanna did excellent service in
the liquidation Of the bank. and also gave
the government valuable aid in its pro-
ceedings against Charles W. Morse. who
had been the controlling factor in the bank
and who is now serving a long term OF i'm
prisonnent at Atlanta.
Fifteen Of the sixteen trust companies
which have been admitted 70 full member
ship in the Clearing House began 70 clear
their checks through that institution yes
terdav The Fidelity Trust Company. which
has recently increased It's capital stock 10
8. 100000 the minimum required of member
institutions will begin its clearances within
two or three DAYS, upon the completion OF
the formal details attending that increase
The companies which sent their representa-
tives 10 the Clearing House yesterday
morning for the first time are the Manhat-
tan. BROOKLYN, Bankers. United States
Mortgage and Trust Astor. Title Guarantee
and Trust. Guaranty. Mercantile, LAWYERS
Title Insurance and Trust. Columbia
Standard. Peoples (of BROOKLYN. New
York, Franklin (of BROOKLYN. and Lincoln
Trust companies. They will be numbered
IN the Clearing House list in the order
named, beginning with the Nanhati ar
Trust Company as No. l01. except that th'
Fidelity will he known as No los, the mum
bers then proceeding with the Mercantile
as No. 100
Prior TO 1893 most OF the trust companies
cleared through member banks, but in tina
year practically all Of them withdrew en-
tirely from any connection with the Clear
ing House Association. and since then eaci
has conducted its operations Independently
making its own collections daily and pay
ing over its own counter the checks pre-
sented 70 II by messengers Of other banking
institutions. The clearances yesterday wer'
effected in little more time than has here
tofore been required, and the work pro
ceeded with the customary smoOthness
despite the enlarged clerical force neces
sary 70 handle II. Before the clerks OF m
trust companies started on their new tasl
short addresses Of welcome were Delivers
/ by James @. Cannon. president OF III
/ Fourth National Bank representing IN
member hanks. and William J. Gilpin. as
sfstant manager Of the Clearing House, Il
| behalf Of that institution.