The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1911-06-11
em Control of Rices-S1ernaan Lazu Block to Actfu4y
IN LOCAL FINANCIAL CIRCLES
By I. A. FLEMING.

4 corporation figuring in the good
| things to come, the holders of these
| bonds, who paid par for them, will
take the chances, with a certainty of
the per cent interest and the re-
demptton when due, as the only other
end of the alternative. The advance
In the price of the shares clearly sug-
| gests the wisdom of holding on to
! these certificates, with intent to con-
vert. In time the story will be told,
II there's one to tell.
Closer union between local bankers
| and organizations. a clearing house ex-
aminer. credit bureau, and other mat
t tSsTs nave oeen urgently advocated in
this column. Therefore some satisfac-
ton that they are under way. Closer
unity will follow the harmonious, excel
lent meeting of the Banker5' Associa-
ton on Wednesday night
George W. White, Charles J Bell.
William J. Father, B. F. Saul, III. ri
Mckee, NJ. G. Mccormick, and George
Z. Fleming constitute the personnel of
the committee which Is to evolve the
matter OF an examiner for the District.
IL Is strong committee, and when II
reports on june n it will prove this
Comptroller Murray talked plainly To
the bankers at the meeting-indeed, Mr.
murray is doing much plain talking
these days. He declared that up 20 a
Few years ago clearing house exam
liner would have ben looked upon hy
the Comptroller as an Intrusion on his
rights; but conditions change, and in
day, in the larger cities. the examiner Is
the left hand of the Comptroller.
with such system in operation in
washington" said the Comptroller,
you will never have a failure, unless
thieves break through and steal every
uolIar OF banks possessions. But
you must have the power to enfosce the
DEGREES of your organization and sustain
your examiner, else your organization
will be powerless.''
ISOLATION to lend all aid and counsel
TO the movement, but thought that the
matter of an individual examiner ought
TO be settled through the clearing
ment Of his acts.
There are but eleven banks in the
Clearing House Association. 1t would
seem to be In furtherance Of the pro-
gressive spirit that has recently de-
veioped, that an extension of this mem
Dership might not be out of the ques-
ton: The trust companies and savings
banks might agree to comply with
regulations that the association might
enact and become members thereof.
Eleven national banks belong to this
organization - American, Commercial
Columbia, District, Farmers and Me-
ehanics. Lincoln, Bank of Washington.
National Capital, National Metropolis
tan. Riggs, and the Second National
There are five trust companies and
eleven savings banks. New York has
r2Sntly taken in trust companies TN
der certain restrictions. There is, ap-
parently, no reason why the bars should
not be taken down, for a time and re-
organization effected, with the special
or national bank examiner looking after
the safety of all.
Another matter of congratulation is
found IN the attendance of the junior
officers of the banks of the city at the
gathering Wednesday, as it is 4 favor
able promise of the future; indeed, there
exists an entente between the younger
generation of bankers that has not
heretofore existed between the more
prominent officials. Many of the latter
are also young men, however, and
promise aggressive support to President
George ". White and the association.
The United States Savings Bank has
just declared the seventh regular semi
annual dividend of 8 rcr cent. payable
July l.
The banks of the city are loaded with
cash despite the heavy Withdrawals for
taxes. Practically every bank reporting
shows an increase in individual deposits.
Local securities are active one day
and neglected the next. The fact OF
the matter is that dog days are nearly
here, and dizziness may De expected
from now Oh, although the interest in
bond and gas securities are likely to
keep trade fair throughout the year.