The Washington times., 1913-04-08

CONF PTROLLER'S CALL
IS MADE ON BANKS

! The Comptroller of the Currency to-
/ day issued call for the condition of
the banks as of April 4. The call is
understood to have been made at the
suggestion of the Secretary of the
Treasury to determine the effect, II any,
of the Ohio and Indiana floods
1t was suggested several weeks ago
that a call would be made for the con-
dition on April for the reason that
J the date is just one month after inau-
guration. whereas the last call was just
a month previous.
The Washington Stock Exchange had
a decidedly better day than usual
Washington Railway common and
Washington Gas were in demand. but
| little of either was coaXed out Nine
! teen shares OF the common sold at 81,
| five shares of Gas at S5 and one at a
half more. The directors of the Gas
| Company will meet on Monday. and it
| is expected that the new appraisal show
! ing the property to be worth over Sl5,-
600, 600 will be ready for submission.
Sixty shares of Washington Railway
| preferred came out at prices ranging
| from 9Ol: TO 81. Mergenthaler rose again
and forty-tive shares sold at 2l9 and
| three at y better. There was plenty OF
| United States Trust at the bid price Of
! l31. and ffty-hve shares were traded at
| that price. The bond trading was di-
vided among four issues, though only
! 81, O01 in all were sold.
Announcement was made OH the ex-
change today that the governing COM
| mittee had removed the bonds and stock
of the Emerson Steam Pump Company
from listing.
, one local and eight national bank
ing measures were introduced IN Con-
gress at the opening session yester-
day. The title of the local bill. which
was introduced by Congressman Lo-
beck. is "a bill requiring banks, trust
companies and individual bankers IN
the District of Columbia TO publish
certain deposits, and for other pur-
poses" The bill went to the Commit
tee on the District Of Columbia.
Congressman Taylor, of Colorado.
introduced two bills proposing to au-
thorize the national banks To make
loans on real estate
Congressman Clayton introduced
bill to add to the powers Of the ma
tional banks
|. CONGRESSMAN Raker brought in an
amendment to the act establishing pos
tai savings repositories.
A bill to prohibit officers or directors
q
erage. commissios gifts or other con-
siderations was introduced by Congress
man Peters.
CONGRESSMAN Palmer brought in an
In the Senate. Senator Bacon, for Sem
ator Smith of Georgia, introduced a bill
to authorize the national banks to take
and hold mortgages. deeds OF trust, and
other conveyances of real estate as Sc
curity for loans. and Senator Jones in
trndnCNd amendment IN tho nj ffnpoI
banking act.
The officers and directors Of the Cor
coran Fire Insurance Company We're re-
elected at the annual meeting and cleo
ton yesterday, as follows: William E.
Edmonston, president: Frank j. Lewis,
vice president; L. r. Peck. secretary; r.
n: Ridgway. assistant secretary. and
Watson F. Clark, A T. Coumbe. Robert
d. Weaver. Albert r. Peak, Frank ].
Lewis, Frank McClelland, and Frank P.
Reeside, directors.
Delegates to the convention Of the
American Institute of Banking to be
held in Richmond will be chosen at the
meeting OF the Washington chapter to-
morrow night. Prof. Charles A. Doug
las will deliver the seventh lecture in
the series on the law Of negotiable in
struments. On Wednesday night. April
q, the election of officers will be held.
The Baltimore Clearing House As
sociation will meet in special session
Friday to take up and settle IL pos
sible, the question OF imposing an ex-
change charge on all out-of-town
checks. The financial circular OF Mel
son. Cook & Co, comments as follows
upon the proposition:
The thing especially to be desired
IS that everyone shall be placed In
the same position and that there shall
be a fixed charge for out-of-town items
which will apply to all without dis
elimination against any portion OF the
business community. The hanks have
seemed to hesitate about fixing the rate
of exchange to he charged generally
through apprehension that non-clea ring
house Institutions such as the trust
companies will continue TO take such
items at par and thereby secure do
positors from the banks themselves.
When. however 1t is rnmember>d that
Ill OF the trust companies keep ac-
saving that n out-of-town items de-
posted by the trust companies are
not accepted AZ par but are charged
for the same as individual depositors,
the trust companies are not apt to
reek to incur the very heavy losses
which would fall upon them. We think
II Is eminently just and proper that
all out-of-town items should he
charged exchange and that all Of tn.
business community should be treated
alike in this connection"