The Washington herald., 1912-10-20
Local. Financial Matters

various branches Of the United States
Trust Company with q view of testing
efficiency Of operation. bookkeeping. and
accounting.
After a careful investigation 4 few
reforms were suggested. which were i'm
mediately installed by the auditor Of the
United States Trust Company. Branch
bank management has been one Of the
specialties Of the firm OF Cole 4 Swasey.
The programme of the Washington
Chapter, American Institute Of Bank
ing. for the seasons work il decidedly
elaborate. Secretary Spade is not ready
to announce the entire schedule. but one
lecture for December ). stocks and
Bonds" by John Moody. than whom
there IL no better statistician, ought to
be an attraction that would draw from
the stock exchange membership.
Then. later on, Lee McClung. Treas
urer Of the United States. Is scheduled
ances"
Instead Of following the usual pro-
gramme of introducing Charles A. Doug
las frequently In the course. the chap
ter has scheduled a course of fifteen
lectures by tbis bright legal represent
ative on the>subject of Negotiable In
struments."
With such schooling as this the future
banking Of Washington will be in safe
and sane hands.
The Commercial National Bank yester-
day celebrated the eighth anniversary of
its formation.
From the close OF business. for two
hours. representatives. Of other banking
institutions. many customers OF the
bank, and friends from all over the city
were the guests Of the Commercial at a
buffet luncheon.
Bank presidents. directors. and tellers.
cashiers and clerks of other institutions
paid their respects. and the ''old guard"
of the Commercial was on hand to play
the part of hosts. and genial, excellent,
cordial hosts they were.
OF the original directors, who, eight
years ago. inaugurated the Commercial
National Bank, in narrow quarters and
with a plain. wooden counter. fixtures.
&C.. there were present yesterday Wal
ter A. Brown, James A. Cahill Myer
Cohen, J. J. Darlington. H. Bradley Da-
wilson. William F. Ham, r. w. Lee.
John L. Newbold. and n. H. Shea. w.
A. H. Church was on the first board
of directors and is now chairman.
Frederick c. Stevens was the first
president, George W. White. cashier.
and Dick Claughton, paying teller.
A photograph taken Of the bank on the
opening day attracted much attention
and will hereafter be given a good posi-
ton in the bank. Dick Claughton as
paying teller filled the role most accept
ably. He is now a member of the local
Stock Exchange.
The lat home" was thoroughly en-
joyed and tended to make friends.
An interesting question in connection
with the proposed Arlington Hotel struc-
ture has arisen. The hotel company has
obtained a permit to erect the hotel to
the height permitted by the width OF
Vermont Avenue, about 12s feet.
Charles Henry Butler. owner Of lot
on Sixteenth and l Streets, the southeast
corner. objects to the heigth of the Ar
lington. on the ground that II will en-
tirely dwarf any structure that he may
decide to erect on his property. The
Sixteenth Street limit is about eighty
five feet 1t is not a business street and
therefore the width is the dictator Of
the height.
Mr.. Butler claims that the Arlington
Hotel Company should be satisfied with
the Vermont high level at least midway
between Sixteenth Street and Vermont
Avenue. and that west Of this line Six
teenth Street high levels should be
adopted.
Whether the solution of the problem
will delay the erection of the Arlington
remains to be seen.
The Arlington Hotel Company has
made contracts for excavating, terra cot
ia work. and structural steel
Yesterdays local market was not
worthy of much comment. As a rule the
bid prices were easier. but the sales
were limited. There seemed to be a
little pressure on the Potomac Consoli-
dated SIS. The Potomac first SIS sold
at lO7 is. Railway common 30, preferred
81 3-S bid, with 81 rs asked :
Comptroller Murray will be in Buffalo
on Monday to confer with the national
bank examiners OF Ohio. Northern
Pennsylvania and Western New York
Efforts Of the comptroller viii be d.
rected toward improving the work Of the
examiners in the districts named
On Monday he will address the ex-
aminers: on Tuesday consult with them
on special cases In their districts.
1t is the intention of the comptroller
to meet with examiners in various Sec
tions of the country and personally ex-
plain to them just what he requires in
the way Of examinations and reports,
under the regulations which he has in
stalled during the last four years.