The Washington herald., 1912-12-19
Local Financial Matters

The members of the London Clearing
House number Is.
The members of the Paris Clearing
House number IL
The members of the Berlin Clearing
House number 19.
The members of the New York City
Clearing House number 81.
Evidently these figures do not carry
out the suggestion that there is a CEN
traiization of financial sinews in this
country out of proportion; indeed the
United States is far and away better
of than our European countries.
The Bank of England, in the hands OF
the Governors OF that institution, Is
the greatest financial power Of the CEN
tury-it dominates not only Great Britain
but II also rules the financial barometer
of the world.
Panics, too, have their initiative abroad.
These great banks have the power to
stop war and panics-but they do not al
ways exert II.
President Nathan B. Scott was receiv-
ing congratulations from friends and as
sociates at the Continental Trust Com
pany yesterday on having reached the
threescore and ten with sumclent
strength and stamina to go along with
head erect and with a good record back
Of him.
Thrs1core and ten-the prophet marked the span
OF He allotted to the average man;
And yet he added that the term fourSccTe
Might well be won b. those who nobly bore
The b-unt Of battle brEEely and gave heed
To other woes and did each day some deed
Which aided others and which lesssned fears;
Gave brotbsn courage and dried up their tears
We have the right to speak who knew you best
Ard T,,sss - fha Ts11Tilet'a further test
VIII find thir hands at work for Others 5000
And find the blest because understood.
So let this natal days descending sun
See thee cetent and viewing as well done
Thy tasks Of life and hopeful feel
F. B. G.
AT a meeting of the Board Of d.
rectors of the American Security and
Trust Company it was voted to inaugu-
rate pension fund for the clerical force
Of that institution.
The directors authorized the putting
aside from the profits of the company
the sum OF $4,000 in a special fund to
be known, as the clerks pension fund
reserve to be used exclusively for the
payment OF pensions for the long and
faithful services OF clerks who may be
incapacitated by age or other disability.
The directors are alive TO the fact
that the success OF company uSpenuS
not only on efficient management. but to
a large degree on the tact and courtesy
of the staff, and recognize that cleri-
cal force who give their entire time TO
the Institution have little opportunity to
secure the reward that comes often IN
other lines of business.
The example set by the American Sc
curity and Trust Company Is sure TO be
followed by other banking institutions In
the city
The only feature of the local stock mar
ket was the continued liquidation of
block Of Gas shares. on a market de-
void Of demand. The result was fur
Their decline to s41z and more stock Of
fered at that figure when the market
closed.
And thus it is that this stock. one of
the best money makers on the Street,
weakens in the best year of its existence.
The annual figures will show this to be
the case.
Washington Railway and Electric pre-
ferred sold at IS Lass IA. the latter for
a small lot The common was held at
So with IS bid.
The only feature of the list was sale
of So shares OF Union Savings Bank stock
at 24s.