The Washington times., 1912-08-18

official.
Some of the larger banks in New
YORK hold to $500 and $1,000 balance; in
sSnlGIago IN, tne First National has an open
ing limit OF $500 and minimum balance
OF like amount, while the 500 average
Is generally insisted upon.
one can open bank account in wash
ington, ana checking account at that,
And the check to draw II out is fire.
quently en- route to the bank before the
deposit is made.
There are many pecuiarities about
the banking business in Washington that
are not found elsewhere There is such
a relationship and inter-rela tionship be-
tween depositors that the elimination OF
some on-paying account is more than
likely to result in some good account
being withdrawn" said a bank cashier.
accounts sometimes grow, but the wise
bank official will urge that they grow
department.
There are bankers who object to clos
ing an account even for kiting, for
overdrawing constantly, or for any
cause on the theory that st makes an
enemy for the bank" Better lose money
than lose accounts, better than make
en- enemy-perhaps. but not always.
Here are come facts and fgures-ac-
tusl, not guesswork:
seventy-fve accounts were opened in
a washington bank, checking accounts
WIFI rIssnn an initial nj al deposit Of s25. -,
reached the $25 limit.
,Thirty-four had as much as S25 to
their credit, but never averaged that
amount.
Eighteen averaged a little better than
s2b.
Twelve became very fair accounts.
Slxty-three of the seventy-five ac-
counts were an absolute expense to the.
bank. They were the most active ac-e
counts in the bank, deposit, check with
occasionally check and deposit at the
same time. They required close OBJ
servation every time one came through.
So long as there Is no unanimity on
the part of local bankers in the han
ding of such accounts, IL will require
brave and determined official to take
the bull by the horns, but Washington
conditions. In three banks during the
last week the matter was under careful
consideration: fourth agreed to look
into II during the coming week.
The banks of the city ought to get to-
gether for a minimum initial account
and a minimum average balance The
sooner the better. Let the small ac-
counts grow in the savings department
with the aid of compound interest.
with wise forethought and with intent
to check any chicanery, disclose errors
or intentional falsifying the local bank
examiner suggested to the officials of at
least one bank during the last few days,
that the bookkeepers exchange ledgers;
that the bookkeeper take the B led
ger, etc,
The suggestion was admitted to be a
! good one, but it was not put into effect,
for the feason that each bookkeeper
| understands thoroughly the accounts
| under his charge.
J,, Tina tt,xah h4n iob haN
sufficient knowledge regarding all ac-
counts for the interchangeable system
| to be useful but with SO many accounts
, under his care, frequently involving an
just such and such a signature for each.
| II is to the interest of the institution
| that familiarity and knowledge be used
to prevent the ever present threat OF
damage claims that may arise through
errors.
Would it not be a good idea for the
officials of the Washington Gas Light
ers t5 the Georgetown Gas Light Com
pany's directors with the announcement
that these are the real owners of the
stock in the Georgetown Gas Light Com
pany for which the directors d.IS.n OF the the
trustees. and instructing the Georgetown
Gas Light Company to pay past due
dividends and future dividends to the
parties named?
If not, why not?
Daily comment on the stock market is
more than warranted by the volume of
trading. The feature is the strength in
the face of midsummer dullness. If
there Is any pressure anywhere In the
list there are no evidences thereof.
There ought to be large attendance
on Change tomorrow.