The Washington times., 1912-03-31


clearing house is TODAY the must useful
agency In checking unsound methods
anu lu securing concerted action for
nealthy expansion"
IL Is further cited by the compIainiro
panks that the defendant combinatIor
or clearing house attempts 10 ''nx and
describe not only the period during
w., nion Hserest may be paid to custom
Gheques, bills Of exchange, and otncr
items which are to be collected In dtf-
ierent places. but the right to fix tho
interest that shall be paid by banks 10
their customers; to fix rates To be
charged for collections and other serys
ices, and to generally regulate and su-
pervlse tie affairs OF the Individual
Rather too much paternalism. II re-
cures too much confidence in the un-
nlased integrity of some Of the makers
OF rules. Confidence is lacking.
!, 1t would be unfortunate II examina-
IONS by clearing house examiners should
be checked by this action.
Comptroller Murray is so well pleased
with the operation Of the system in
chicago that he feels that examina-
tions twice year by the representa-
and that thereafter banks in the Chi
cago district will be examined by the
national bank examiner at intervals
OF eight 10 ton months-an average Of
This kind of confidence finds satisfac-
tion on the part of the big fiscal ineti-
tutions of the big city, for 1t is an
expensive business, this examination Of
some of the very large banks there.
More bank stocks figured in the
records of the local exchange last week
than have shown for months.
Coupled with the activity we're numer-
Gus reports of consultations, accom-
plished, pending, and prospective, from
veloped
But these are days of concentration.
For time. every consolidation led TO
expansion, but In the two movements
ITO concentration that have been car
Tied Tet to to- praStiGsl comRletIGn: no expani;
Mechanics Savings Bank will be
merged early in April with the United
States Trust Company, nor lie there any
probability of an aftermath, other than
to the increased business Of the alb
sorber.
1t is generally known on the Street
that very inviting offer was recently
made for control of the Commercial
National Bank, but that the controlling
interests therein are abundantly salts
fled with the growing progress OF this
institution. Rumor had It that another
downtown bank was concerned in a
proposition, but 1t ended in rumor
A rise of three points in District Ma
tfonal, practically five on Commercial,
ana a Sl1arp upDlQolnB OF second Ma
tional featured the week United States
Trust touched a new high at 167, and
holders of the stock looked for even
better figures.
More important in the sense of actual
news was the increase in the dividend
declaration OF the old National Metro
politan Bank. marking the beginning Of
the upturn, the result Of confidence and
ability.
The Farmers and Mechanics National
Bank of Georgetown will tomorrow
initiate a savings department. paying
per cent interest to depositors in this
department.
The outlying districts are becoming
more and more on a savings basis; in
deed, this bank was about the only one
not in the heart of the city where the
! 3 per cent rate did not prevail. With
a savings bank as an immediate COM
petitor, the installation OF the new de-
partment would seem the part of wis
dom, although the Farmers and Me-
chanics has never lacked for business
and profits. II has the confidence OF it's
community and of the banking fra
ternity.
Savings departments have been in
stalled by the American National. the
IJncoln National and now bY the