The Washington times., 1911-10-15
IN LOCAL FINANCIAL CIRCLES
BY I. A. FLEMING.

There is probably no question but
that Comptroller Murray will willingly
agree to give to the proper authorities
of the District Bankers Association, In
formation concerning any bank sup
POSED TO be In a dangerous condition or
that the Clearing House Association will
not do the proper thing In the event
of q desire to force needed corrections
or even liquidation, should such q dras-
tic step be considered necessary. The
Comptroller will probably permit the
clerk of the association to. prepare
credit information from assets Of ex-
amined banks, but In this case he would
be more than likely to hedge about the
information SO that 1t would not be
used to the advancement of the interests
of any one member. The District Bank
ers' Association must be careful of
this Information, to the end that.
while an aggregate note indebtedness
may be obtained by any interested bank,
not sthe slightest intimation be given
as to where these loans are placed.
The clerk must be above suspicion
indeed. this is the weak link in the plan.
Tho Clearing House Association re-
ceived assurance from the Comptroller
ish 1t with the name Of any bank in the
District that was considered in a dam
gerous condition. and by resolution ac-
cepted the good offices OF that official.
Chairman Bell. Of the subcommittee
Of the Bankers Association, called on
the Comptroller on Friday and was
closeted with him for some time. He
will probably bring a satisfactory mes
~, ha
ciation.
1t Is but natural that the smaller
banks Of the city should tealously guard
their business secrets from their more
important competitors. Things come
easy for the big fiscal institutions. but
composition with the numerous lesser
institutions is fierce. and customers are
valuable assets. and to be treated as
such. SO long as q bank Is being con-
Of the Currency. so long as it's assets are
conserved and its business legitimate,
Its affairs should be a matter Of small
concern to its competitors. large or
small.
1t is only when the affairs of one of
the links threaten to break the chain
that action Is necessary, that the link is
made whole. or removed before damage.
Tough on the "coiored janitor" OF
the defunct bank at Bluefield.
No one questions the fact that the
automobile has come to stay. Few con-
slider the importance of the industry In
It's varied branches.
In Washington alone there are prob
ably 5000 cars. No one knows to a
machine. License numbers pass when
the machine goes to the junk pile and
with each new change Of ownership. the
old numbers being used no more.
At a valuation OF 81 500 on the average.
this means 81 200 900 invested in cars, to
say nothing Of the other millions for
tires. tubes. gasolene, oils. fixtures,
garage service, and garages themselves,
and the services of an army of chauf-
feurs. Double It Ave times for New
York. five more for Chicago. Millions
on millions are involved.
The life Of a car is based on two
years for a taxi-cab to four years for
a touring car in moderate use-then the
junk pile or rebuild
OF late the truck business has been
added and il becoming an important
factor.
The business has offered another ave-
nue. for the employment of millions of
capital and the use Of the money Of
banks, almost as freely as the banks
will permit. or course some banks will
not enter the business, but others must