Evening star. [volume] (Washington, D.C.) 1854-1972, 1918-03-25
flow THE BANKS WILL
act ON CHECK CHARGING
by A. FLEMING.

BY !. A. FLEMING.
Corcoran Thorn. president OF the Dis
frict Bankers' Association, has received
from H. H. Mckee, chairman of the
committee on Improbable accounts, q
reply to a query as to whether the
banks of the District have adopted the
practice of making a charge of fifty
cents month against checking ac-
counts which fall below 800 a month,
as approved by the association
Mr.. Mckee reports that a number Of
banks and trust companies have an
nounced that they will will not make
any charge; that others have said that
they will make a charge only on accounts
that have been found to be actually
Improbable, or an expense to the bank;
o few have stated, that although they
voted for the so cents charge. they are,
after mature elaboration. convinced
the charge proposed is too much and
that they do not feel like charging
more than rs cents, and on active
checking accounts with balances under
$50.
Some banks have not fully decided
no action unless the practice is to be
adopted unanimously Quite a number
of banks have expressed determine
ton to adopt the recommendation of the
association and make a charge, but
they will use care and discrimination in
applying it.
Therefore it will appear from the
foregoing says the report, that the
practice of making the charge recon-
mcnded by the association beginning
April l, viii not be generally adopted,
although from one-third to one-half of
the banks and trust companies in the
city will make some charge, using their
judgment and discretion in fixing the
amount OF the charge and the character
OF the account to be charged.
The committee feels that the agita-
ton has been profitable because it has
caused many banks to analyze the char
acter of the business which they are
strated that the banks and trust COM
panies in this city have, in the past and
probably will continue in the future,
to do a vast amount of business for the
service first. and without thought of
compensation"
On the Local Stock Market
Bonds furnished the bulk of the
transactions on the session of the stock
exchange, with the market showing
fairly good confidence in the securi-
ties. as shown by the prices.
Potomac first IS advanced again to
par, with sales of $4,000 face value.
all at 100. except one $1,000 bond.
WHICH SOIu at r.
A $500 bond of the Capital Traction
Company changed ownership al 1905.
the fraction representing an improve
nent over last weeks high record.
Chesapeake and Potomac Telephone
IS brought 100.
in the stock list the only trades on
the sales record were two I0-share lots
of Commercial National Bank stock
at 100.
Dividend Declared.
Regular dividend of III per cent
Tor the current quarter is paya BILE by
closed TODAY.
Silver on the Advance.
All indications point to continued
strength in the market for silver now
At high price The import season OF
China is at an end and the export sea-
son. is at hand. Her exports must be
paid for in bar silver 4
Arrangements have been made where
by the United States government in
all probability, will soon dispose of it's
supply of silver dollars. in all about
$2o.0e0,0o0. at about 81 an ounce. the
sale TO result in the retirement, as
fast as possible. Of a like amount of
silver certificates. to be replaced by
federal reserve notes.
The continuation OF unsettled condi-
tons. in Mexico unfortunately lessons
the available silver production there /
The allies are interested in keeping
the price of silver down. as Germany
Is the greatest European producer Of
the white metal, and the belief that
She has been able to cash in on a con-
sIderabls part of her stock prevails in
England.
Japan has twenty-five silver mines in
steady and continuous operation. China
and India are the greatest users of sill
yer for a circulating medium
James B. Donnelly, Jr., Resigns.
James B. Donnelly, jr. treasurer OF
the Munsey Trust Company. has
rendered his resignation, to be accept
ed on the appointment of his success
sor- 1t is likeley that Mr. DonnelIy
will remain with the company during
part of April ut least.
Calling in War Loan Credits.
The Secretary of the Treasury has
called on banks to forward the final
payment of 80 per cent on the credits
established through the purchase of
Treasury certificates of date February
S. also 80 per cent of the credits estab-
1ished by the purchase of certificates
of date February 81 The first pay
wents must be made today: the second
payment on the 2Sth instant.
Capital Issues Committee.
The capital issues committee reports
that since January IL it has made
final decision in 100 cases Out of a
total proposed issue. including refund
ing operations, of s52.57S,1o6, approval
was granted to s41,402.10S. or 1877 per
cent, 21.23 per cent being denied sane