The Washington times., 1912-05-19
IN LOCAL FINANCIAL CIRCLES
By I. A. FLEMING.

Bank, and with ID a good
contingent Of commercial deposits, and
.: Ii Bowman. formerly cashier and
Bank, as well as good following Of
people.
Its stock Is very strong.
holdings Of e. Quincy smith, former
president, were taken over by Measrs.
Parker and Woodward, negotiations
were on Tor supposed to bel. looking to
bank.
Beautiful flowers, roses and carna-
,i,,,, ,mi1,ns,, posies and peonies, nlacs snd
restful scents, they ali tie air with
fragrance and awaken the conscience Of
more than one Washington banker IN
the performance of the daily task?
Esthetic? Wen. what OF 1T
During the first four months OF tlH
creased % I its 9h net esrninss a BY s5sSoc. Il is,
fair to assume that the earnings Will
increase In the same ratio during the
balance OF the year, as the same econo-.
savings will result from month to
month as cutting down Of needless ex-
penses continues.
This should result in an excess Of net
earnings of over $4,000 for the year
and enable the company to pay divi-
dends and carry a balance to surplus
account.
The General Electric Company carries
patent, good will, etc." at 81 on It's
tric has added about dollar to surplus
dividends. Conservatism, wisdom. up
building great corporation.
Morse on Banking, the recognized, au-
thortty, section 49, says that eh ecks
coming over the counter shall be paid
first served. when there is no lien on
the funds. and funds are ample To
When a batch Of checks, Of even date.
comes through the clearing house, no
one check in excess of the balance OF
the depositor. but in the aggregate ex-
ceeding the deposits, what action shall
the bank take In paying?
Morse declares that the bank has not
the right to make a preference. II the
dates are different the bank has the
right to pay, giving preference to first
Local bank officials have declined to
take this stand. The president OF one
OF the largest institutions declares as
follows: I'VE first call up the depos-
ttor and try to have him make his bal
ance sufficient TO meet all checks Then
we pay the most important checks
the ones that might cause the most
troubie-that is unless we feel that the
oNpOSieOl 10 ~ a
draft which we know viii be speedily
taken care Of"
Other bank officials have declared
that they pay as far as balance will
permit and then stop"
During the past week decision was
made in one OF the courts of record in
Pennsylvania. overruling the Morse
theories and sustaining the right of the
bank to paw as far as the balance will
permit and then cease. This decision is
| important and will be printed in full in
a day or two.
What kind Of a conscience has TIE
| country banker who makes study OF
! loading" the city bank? rhe same
kind as the city banker has who makes
speciality Of unloading on the coun-
| try banker
The depositor continually guilty OF
| overdrawing should be given few
, warnings. The habit Of giving check
! just a bit too large for the account, 10
sometimes checked by deposit to the
! credit Of the maker Of a sum sufficient
I to make the deposit meet the check.
! 1--WE frequently assist In this good
| work." said one banker. "and get I'D
Of this kind Of accounts as speedily as
possible
1t would be a better world II con-
science was given entire sway and the
golden rule full play.