The Washington times., 1911-12-17
IN LOCAL FINANCIAL CIRCLES
BY I. A. FLEMING.


the District Bankers Association was
clearly the event OF the week In finan-
cial circles. Practically the entire finan-
cial fraternity Of the city was represent
ed, with the exception Of four bank
presidents. who were so unfortunate as
10 have previous engagements. It was a
great get-togcther meeting. and from
such gatherings good will always result
The project Of the Clearing House As
ISOLATION. the Stock Exchange. District
Bankers Association. and the Washing
ton Chapter Of the Institute of Banking
getting together and obtaining an as
sembly room. or rooms. to be used in
common, has been preached before, but
the manner in which George w. White
brought II before the gathering on
Thursday night, and the fnct that it
found an immediate echo. speaks we'll
for the early Accomplishment of the
project. Early in the year 1912 is the
outlook at present.
II nothing further results from the
dinner. this will be reason enough for
the evening, but the renewal of friend
ships. tile meeting in social Intercourse
NJ the men who make the loans and the
men who borrow the money, cannot but
be Tor the encouragement OF harmony,
good feeling. and broadening of business
relations.
Washington has reason to be proud of
Its finunciers and Its institutions. Never
mas there been a more preventative
gathering than NJ the Exchange dinner.
50 ably arranged. 50 beautiful in ap-
pointments and detail. 80 thoroughly
enjoyable.
Next week the Ideal Bank President
Can yon name him?
A photograph hanging in Vice Presi-
dent Henry's office in the United States
rious structures that occupied the three
corners Of Fifteenth and H streets
stood where. the present Southern
even back before the days Of the civil
worshiped-here today are the activi-
| ties Of trade and commerce.
On the opposite corner, where Column
bian College. afterward George Wash
! ington University. stood. the stately
Woodward building rears its well-pro-
portioned height. At the George Wash
ington University many of the men now
prominent In the business and pro-
fessional life Of the city received their
collegiate and legal education.
pied by the artistic and substantial
Union Trust building, stood the old
hosiery, known at the time Of it's
demolition as the Colonial. where one
| fantastic and enjoyed themselves i'm
I mensely.
These oId-time structures have given
place to the steady invasion of the
financial district-the trend Of the
| march toward the northwest.
The Shoreham Hotel still remains,
| but rumor has II that it's days are
Times change and men change with
| them-good buildings of yesterday go
crsmbling TO make way for the mod
| ern Structures OF today The north
II has been substantial. and three
modern structures on H and Fifteenth
streets northwest will long be recog-
"outposts Of the financial district TO-
day-the heart few years hence.
a director Of the Bank Of Commerce
and Savings.
James B. Forgan, head of the First
National Bank of Chicago. inaugurated
/ a very valuable system when he step
! ped into that position. A record was
Immediately started of every depositor.
l. was not enough that he was intro
duced by Mr.. Jones or Mr.. Smith. IL
! was necessary that the various items as
| to residence. place Of business, bust
| ness etc, were verified and vouched for
| Immediately the depositor, unless es-
pecially we'll known or prominent.
opened the account, the bank started out
to know all about him or her, and the
record was filed for future use. Any
| attempt to make use of banking privi-
| leges beyond the legitimate rights of
| the would-be borrower. ETC., was at once
made patent from comparison with the
| record, and many a would-be game on
| the bank and at the banks expense
was headed of The establishment of
an account to the extent of depositing
many good checks over the counter.
with a view of one day passing through
! a good-sized fake check and getting the
cash before discovery, is one of the
oldest tricks in banking. Forgan's rec
| ords were brakes on frauds.
| 1t Is a Chicago trick to mortgage an
other fellows home and even to steal
| the furniture by the van load.
| The last bank statement shows that
the national banks of the District have
| lost heavily in deposits between the
| calls, September / and December s of
this year Trust companies were also
| losers to a materially less extent, but
the savings banks maintained their ex-
cellent reputation and their records for
, going some" by making an actual
|