The Washington times., 1911-09-17
IN LOCAL FINANCIAL CIRCLES
By I. A. FLEMING.

FLEMING.
and It has even been ninted that an
| s.tion. bIop"-
| A local banker made this remark a
gay or .wo ago; Has It ever occurred
Ine rich men, who have been attacked
oy writer's, legislators, and courts.
Elisnt close up shop. take a few mil
ions; and enjoy life? Who would suf-
It looks as IL Henry Clay Frck WAS
doing that right now.
Who will name the local bank exam
iner-the Clearing House Association or
the District Bankers Association? II Is
an interesting proposition, and one that
was not brought up until Friday last.
There are thirty-one banks in the Dis
trict OF Columbia; eleven of them belong
to the Clearing House Association; prac-
tically ALL with Few exceptions, are
members OF the Bankers Association.
Therefore II was deemed wise and
Candidates are numerous, including
ton decided to follow the lead of other
reserve cities and engage a bank eX-
aminer. The constitution was amended
to meet the requirements and date set
when the examiner should be selected.
Candidates are numerous including
local financial circles.
But in order to make the movement
effective 1t was necessary Tor the Clear
ing House Association to 50 amend its
District Bankers Association against
any possible culprtt.
The matter has been considered by
the Clearing House Association and tie
amendments have not teen adopted.
This despite the support given the
measure in the Bankers Association by
the Clearing House Association men,
bers. Perhaps the amendment may be
made next meeting, PERHAPS not. There
are quite a number Of members OF this
organization who believe the examiner
should be appointed by it-thls Is the
method elsewhere and 1t was pointed
out that Comptroller Murray IN MS ad-
dress before the Bankers Association
spoke in favcr Of q Clearing House ex-
aminer.
The eleven members of the Clearing
House are in a position to enforce ac-
ton, by refusing to clear for non-mem-
forcing a mandate of their examiner,
approved by their committee.
1t is a case of dispute as to how the
examiner shall be selected and under
than a disposition to caIl of the ex-
aminer business entirely
1t is rather unfortunate that the
contention has been brought to the
front so late in the day, but the ques-
tion of an examiner is Of paramount
and which ever way the
matter goes the Bankers Association
is entitled to the credit for having
taken up the matter and having
pushed 1t to the verge Of successful
conclusion
Interest at per cent really means
about 1S per cent for the big trust
and some Of the per cent.
payers actually pay out about 1.80 to-
Q per cent Interest is problem
Overdue paper in Washington is not
exactly like overdue paper in other
cities. Here it. is sometimes protested
and sometimes 1t isn't. Like every
thing else in Washington, the depos-
ltor is considered, not SO much the de-
positor whose paper is overdue. but
the depositor or depositors who may
be friends of the maker of the over
due note or notes. Borrowers should
be made to understand that overdue
paper Is a bar against further credit
A few protests would make this class
Of borrowers sit up and take notice.
Some Of the local bankers are very
prompt, others are slow, in using the
protest In the long run the account
Of a customer who continually per-
mits his paper to remain overdue will
be found a losing one. So. too, with
the account OF the man VINO writes
his name in endorsement of another's
note and then refuses to promptly
come up when payment is delayed by
the maker.
Uniformity is essentially necessary,
and the Bankers Association should
take these matters up and agree upon
Uniform action in the interest Of a bet
ter banking business.
Many of the readers Of this column
lid not notice the comparisons made
ast Sunday on deposits as of Septem-
Der 1. 1901. The net increase for
his year was over $3,700, 900, and this,
90. with the heavy loss Of the last three
months.