The Washington times., 1911-08-27

What should be the answer Of the
bank cashier or other official to the
qestion that comes over and over again
via phone as to character OF depositors'
accounts?, The usual form Of the query
Is as follows: I'VE have a check for
5000. drawn by John Doe on your
bank, Is II good?"
In many instances the party at the
other end of the wire may actually
have the check as stated and may
doubt its value. Frequently, however.
the party at the other end of the wire
may be anxious to file an attachment
on an account, and not care TO go to
the expense and take the chances Of
making an attachment where there are
no funds.
At least one bank has made this rule:
Never give out Information as to q
customer's account. II a checks value
Is called into question, answer that the
only way that the holder can ascertain
whether II Is good or not Is to present
1t at the paying teller's window or
send It through the clearing house in
the usual manner.
A mans bank account Is a matter be-
tween himself and his bank, and Its
privacy should be 30 regarded. When
depositor refers to q bank as to his
credit, financial standing, ETC., the case
Is different, and the banker may then.
within certain limits, answer the queries,
although II Is not necessary to particu-
larize as to the size Of the account
Check hting is rampant in Washing
ton as In every other city. When there
are evidences Of this kind of work, al
ways turning out loss to the bank,
the sooner IL Is stopped the better. A
hted check to the bank On which 1t is
drawn before clearings will probably
develop the fact and give the excuse
for closing the account.
Another evil that Is common in Wash
ington banks, largely on the same order,
although frequently legitimate, Is the
deposit Of personal checks from far
away points by depositors VINO immedi-
ately draw against the check, even
before II has started toward the point
of payment With business concerns
and good customers whose accounts are
worth having, the banks never make the
slightest objection to ,gIyIEB Immediate
credit for the amount or the check or
checks of this character resolved In
the ordinary course OF business.
But there are accounts with which
cashiers are thoroughly familiar, IN
themselves Of little or no value 70 the
bank, always drawn down to a nicely,
where this habit OF depositing several
personal checks that will require from
four to seven. and frequently longer,
dogs in transit, is common. The check
may be OF no value, but 1t gives the
account that Is worthless 10 The bank
the use of the money during the interim
o. deposit and collection, and then the
bother OF forcing repayment. II 1t is
good the loss to the bank Of the amount,
500 or 5000. for the time being Is In
no way repaid.
The natural rule in this case should
be the acceptance of the checx for col
lection. One other alternative, a wire to
the bank on which the check Is drawn
and a charge for collection, II good
OF what value are accounts that do
to handle them? Just after clearings
any day one may always find a genial
gentleman standing at the bookkeep-
er's window of one Of the five trust
companies waiting to ascertain
whether he will be required to make
Fact.
Three Washington banks are max
ing extensive alterations in their
Trust Company plans to put its vaults
and safety deposit department in the
basement of its building, throwing
the entire rear portion of its office in
to the banking department. President
Edson's office will also be removed
from it's present location to the north
east corner OF the banking room and
the entrance from Ninth street closed
The lowering of the great vaults is
stupendous proposition.
improvements on the Lincoln Ma
tional Bank building are rapidly ap-
preaching completion. A street level
entrance is the chief feature. The
success of the Second National in
reaching the level inspired a desire
for such an entrance to the Lincoln.
The entrance is being made decidedly
imposing and the banking office will
be more cheerful and lighter.
The Citizens Savings Bank. unable
to find a new location at a -satisfac-
tory price and in locality that Is de-
sired, has decided to remodel its quar-
tiers. The clerical force will be located
in a room back of the present bank
ing room, only the actual force nee
essary to the handling of cash. etc.
remaining in the office. The New