Evening star. [volume] (Washington, D.C.) 1854-1972, 1918-09-15
FINANCIAL-LOCAL AND OTHERWISE
BY I. A. FLEMING.

BY I. A. FLEMING.
During the fourth liberty loan cam
paign banks may obtain bonds in large
denominations for their installment
buyers, as we'll as for cash subscrip-
lions. the large denominations being
split up as needed by the Treasury De-
partment after the close of the cam
paign, when the full returns are In.
This ruling. made today, will be of
great assistance to bankers in avoid
ing the repeated handling Of a large
amount Of bonds Of small denomina-
ton.
In the three previous campaigns
bonds Of small denomination were is
sued for installment buyers, requiring
larger use Of valuable storage space
really could not be delivered for ten
months.
Skilled Banking Labor Exempt
Tellers and other highly trained mon
in the banking business will not be
called for selective service. but it will
be necessary for the bank itself to
make special request for the exemp-
ton Of registrants.
This ruling has been made in the
precedent that will probably be fol-
lowed very generally.
This does not mean that all bank
help, moro or less trained, Will be
classed as exempt, but It does mean
that officers that are not figureheads.
1rsN lNy-
omcials will be given recognition as
necessary to the conduct of the bank
ing business, and that the banking
business itself 10 recognised as highly
essential.
It would seem to be up to directors
or presidents Of banks to make known
to the proper military authorities the
make them essential to the conduct
Of the business.
There are scores Of bank employees
whose training makes them useful to
the banks, whose absence would be
missed, but who are not in the class
A larger employment Of women In all
but tellers' positions has solved the
question for many banks and more
and more women will be employed
with satisfaction.
Junior officials handling the entire
matter Of detail frequently passing
on part Of the credits granted by q
ness connected with liberty loans.
with the Department Of State and
the Treasury Department, and men
sufficiently expert to give profess
sional advice on income tax matters.
the preparation Of schedules and cal
therefore necessary for the conduct
~ huafnAQR
Tellers who have knowledge Of sig
natures Of banks depositors are not
readily replaced, while note tellers
and receiving tellers call for long and
special training. paving the way to
Junior Official positions.
The 9 O'Clock Closing Problem.
It might almost be in order to
closing movement, SO auspiciously
launched?
Some weeks ago it looked like a
very easy proposition. now 1t has the
appearance Of being a hard nut to
crack.
At a meeting Of the clearing house
association some weeks ago the mat
ter might and probably would have
been carried to q successful conclu-
sion, but a necessary amendment to
the bylaws Of one Of the member
banks delayed action.
This has been remedied. and now.
50 1t IL understood. all the banks in
the clearing house association favor
the adoption Of the suggestion to
close the financial institutions at 2
o'clock hve afternoons Q week.
But there are six large trust COM
panies, affiliated with clearing house
banks, but not members Of the asso-
citation, and some Of these offer OBJ
jections, that may be Offset by neces-
sity, when further operations of the
selective draft make for the larger en-
ployment Of women.
Unanimity Of action 10 hard to OBJ
tain where there are 80 many to be
consulted, but q movement that
would not make for the Inconvenience
Of q depositor that 10 successfully In
operation in other cities. and that
would permit scores Of employees to
while and cut out night work. should
be compelling in its appeal.
Turn in Foreign Exchange.
The money expanded by the million
oaa Yanks ON French and English
soil is having q direct effect in
changing sterling exchange rates
arainst the United States. aided very
iargely by the expenditures OF the
United States for equipment. etc. IN
the Saving VI s0Isooo eAsS~o" 1AA
chases abroad.
The tendency to eXohenge rates IA
vorfng London and Paris. against
New York, does not seem likely to
chanes. ~ more and moro American
money will be paid out to our boys,
and they in turn will distribute q
share Of 1t, while. government par
chase0 will be larger ~ the ability
to buy in the markets abroad in
crea8e0.
The English Board Of Trade figures
an import total for July T nearly
$3.50, 900. 900 and IN. export total OF
S21S ,OOO, 900 in round numbers.
These arc figures for overseas trade
and do not represent the pocket money
expenditures Of the YaulEs, which viii