Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-09-02
SETTING IDLE DOLLARS TO WORK
William A. Law Philadelphia Banker Is Taking Leading Part
in Solving the Financial Problems Raised by the Euro
pean War-A Bankers Banker
By WILLIAM A. McGARRY

perience In two years he had become presl-
dent of the Central National Bank of Spar
tanburg. Some insight into the character
of the man is given by the story of what he
did after graduating from college. He had
received free tuition as the son of a minis
ter, but after getting his diploma he imme-
diately went to work to earn enough money
to reimburse the institution.
Before the Civil War relations between
Philadelphia and the South were more close
than they are today. 1t was through an
effort by the old Merchants National Bank
of this city to restore these relations that
Mr.. Law was brought to this city, and it is
interesting to note that a continuance of
this effort has been one of his hobbies since
his residence here. The Merchants National
sent one of it's officers into the South to find
man to build up it's interests. He found
William A. Law in Spartanburg and he was
so deeply impressed by the ability of the
young Southerner that shortly afterward the
Merchants National made Mr. Law an offer
to come to this city A writer describing
Mr. Law has noted that it took nerve to give
up the presidency of a successful bank in
small city to become an assistant cashier in
a large bank in great city. Probably it
did, but Mr.. Law had the nerve. He also
had ability, for in seven years he advanced
through the Office of cashier and vice presi-
dent to the presidency.
The First National Bank OF Philadelphia
took over the Merchants National in 1910
and Mr.. Law became vice president, and
early this year he succeeded to the presi-
dency. From court stenographer to presi-
dent Of the bank holding the first charter
issued by the United States Government is
somewhat of record for 25 years.
A School of Banking
Bank clerks have found Mr.. Law exceed
ingly helpful. One of the largest activities
of the American Bankers Association is the
American Institute of Banking, an allied Or
ganization of between 10000 and 1900
bank clerks who study through the means
provided by the association. the problems
of banking. Perhaps it is the teaching in
stinct acquired in his younger days, but the
welfare of the institute and the success of
Its members is one of Mr.. Laws particular
interests.
AS TO the American Bankers Association
itself, 1t is a much more important organi
cation than many think For instance. its
membership is given as $4,000 banks; but
these institutions average from three TO
twenty officers each, and this means that
more than $4,000 banking officials are inter-
ested In the association and active in its
work.
Mr' Law married Miss Lucy Lathron
Goode' OF Savannah, in 1Ss9 They have
two children Their home is in German
town. where Mr.. Law has library more
IKE that OF literary man than a banker
lie has given some time 10 charitable work
IN between his other duties he likes to play
sor' some OF the young men he has quietly
heiped into better Jobs are now executives
IN arge banks Mr. Law is member of
the Fhlladeiphia Racquet Club, the German
toWh cricket Club the Huntingdon Valley
ciuo ana trustee Of the Fire Association
ol tnis city and OF the Central National Bank
of spartanburg, s. C.