The Washington times., 1911-10-15

help, henS and and they are doing it with fairly
Tho man;,factur.r .. ,,.
sideraion by the banks. The agent who
Is expected 10 pay for cars before they
are delivered, when good, il also en-
titled to consideration.
ceipt and the note Of the agent is ac-
ceptable for rs per cent OF the original
cost Of the machine, the latter being
covered yWne at at all times by insurance. etc.
money. When sold on time, as FREE
quentiy occurs, the bank insists on a
substantial cash payment and demands
period Of four months. as there viii" will be
marked depreciation In that period.
Chattel men loan on secondhand ma
chimes. banks never.
No encouragement is given to the
class of buyers that is willing to mort
gage homes to buy machines. Notes of
buyers are additional security to notes
Of agents or dealers.
The automobile furnishes a great
economic question. But It is not an
economical proposition.
Capital invested in manufacturing en-
the United States nearly $500. .0oo,0 900;
cost of materials used, about $.OO0,0O0,-
600; wages. over 81, 200, ,000, 900, and the
Soo SslSs oe of products. practically %'ooo'-
II win be interesting to watch the
retrograde movement during the de-
structive period as compared with the
gain during the hve years OF construc-
Probably an increase in the number of
stablishments-more small ones.
Cotton Accountants Problem of the
Southern Banker and the Bank Ex-
aminer," is the title of q very interest
ing address delivered by Joseph M.
Logan. bank examiner. whose territory
the Comptroller Of the Currency.
The problem of the Southern bank
and banker is interesting to Washing
ton bankers as we'll as to Baltimore
and New Orleans bankers.
They are getting stronger with each
year. but they have not mastered all
OF their problems; I'm my opinion"
Of such magnitude % in all al "f the eosnsSs world
which has been handled with such loose
methods, with regard to safety, as the
cotton business" knowledge on the
question Of whether cotton they have
loaned on is insured or not. is said to
be the one chief fault.
Many Southern banks have a habit of
| tons have been returned, while yet
| money Is in transit. The trend in this
respect has caused the closer inspection
| OF balances, and many refusals to carry
mittances are in transit.
But, like everything else in the South
land, the banks are gradually gaining
in strength. becoming better managed
Chain institutions ought not to be en-
couraged unless where there Is ore
big. strong unquestioned head.
The last report of the Comptroller Of
the Currency showed 2.371 banks re-
porting. greater number by 1875 than
reported a year ago. National banks
S7,2I7; State. l2.s43: mutual and stock
| savings, 1854, and private banks, l,1l6,
while there were 1.z5l loan and trust
companies. Total resources, $23, So. .500.-
0O0 Verify the banker should be a man
among men and hedged about with all
needed measures for safety.
Local securities nave been active and
strong. Local bonds are highly favored
by investors. Our market has throws
off the shadow of Wall Street and viii
not longer hesitate.
The transfer agitation may prevent
some investors from going into the
street car company stocks, but II should
not, as the companies would not be suf-
ferers to any great extent II forced TO
make the interchange.