The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1911-09-03
IN LOCAL FINANCIAL CIRCLES
By 1. A. FLEMING.


/ get the account the matter may then
| furnish source Of merriment, but even
at that no real satisfaction should fol-
| low
This IL a suggestion for closer rsIa-
tionship between bankers for the elm
nation Of losses and the establishments
of credits on good, sound basis. Each
bank must be its own credit Judge, but
bankers have been victims for many
years of occasional cleanup artists IN
credit extension. Their exposure by one
banker to another is greatly to be. de-
stred-their exposure to all bankers
would be no more than wise precau-
ton.
Cooperation between hanks In the
District of Columbia has not been as
harmonious as 1t should be. Everyone
is working to get the better OF the 9TH
er-deposits the aim. other things sec
ond. But In the elimination of waste
fii accounts; in the saving Of the hand
ling OF accounts that are worthless: IN
the elimination OF the everyday habit
Of seeking the ledger tc see II so and
COS account Is good: in the limited
credits TO parties not entitled to more,
in word in the mutual advantage of
co-operation there should be more OF Il.
The hank examiner matter is a step IN
the right direction, but the association
should have the full benefit Of his SER
vices.
Chicago started the local clearing
house bank examiner as a special prop
osition, and IL did II when the fact was
brought home that a weak link IN the
chain OF banks was danger to the
chain. A bank failure In any city WIN
iEnlct some damage on the strongest
bank. A failure of big proposition,
as In the case of the Walsh banks In
Chicago. requires that structure be boil
stored up quickly to prevent serious
damage.
Who will be the first Washington
banks examiner? The office demands
personality, ability. strict impartiaIify,
and more than the average amount OF
honesty.
There has been some discussion be-
tween local banking interests during the
past week on the probable saving
through economies In use of space IN
bank offices. 1t is generally understood
that banks. to be prominent and sue
cessful, must be in the heart, or ada
cent thereto. off the business district
This means highest priced realty and
highest rents
ut would be a good thing for u.s."
said one local banker, IF we could put
our bookkeeper, clerks stenographers.
ETC., up on the second or even third
floor of this building, keeping only the
receiving, paying, mad note tel1ers,
vaults, etc. and officers on the main
floor and rent some Of this high-priced.
square-foot space, say, for a brokers
office. real estate office, etc. The time
has come when with the various appli-
ances for communication and inter-
course-the dictaphone telephone, etc.
this way Of doing a banking business
Is more appealing than ever. Too much
valuable space is being taken up by
clerical labor that might even be housed
on a side street. The officers could
communicate with their other offices
just as easily as they can now
I'VE saved one clerk said another
banker. by bringing our force DOWN
stairs" But did the saving of this
one clerk more than Offset the extra
rent that was had for the downstairs
space?
Net operating revenues of railroads
for May decreased SIS a mile, or As per.
cent. Increases in wages to employees
have been persistent and continuous.
Developments in the local security
market during the past week have been
of comparatively little Importance. With
the exception of Washington Gas prac-
tically everything is holding its own,
and Gas is but little easier. September
disbursements should help the mark ct IN
the near future, especially in the event
CT their being a change of temper on
Wall Street, that would give investors a
little more confidence.
The return of the army of vaca-
tionists, scheduled for next month at the
longest, should have good effect on
stocks.
Bankers talk of possibilities Of tight
money this fall, but this Is problemaric.
Certainly the activities in the business
world are not up to average pro-
portions. real estate operations are
somewhat restricted. and security specu-
alton is at a low ebb.
The postal savings system Is success
full 10 the extent of the facilities for
handling the funds of the people. Bank
ers are rushing in bonds in order to be
qualified to recover their deposits by
paying 211 per cent therefor.