Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-06-29
MOST DISCUSSED
CONVENTION PAPER
r.. v. FIeming's Address the
First in Mr.. Evans Big
Symposium.

At the recent banking convention
the paper read by r. V. Fleming. as
sistant cashier Of the Riggs National
Bank. created large amount of dis
cussion. particularly by scores OF
senior and Junior bank officials
After discussion it was ordered
referred to the Clearing, House As
suggested by Mr.. Fleming.
The address follows:
Mr.. Chairman: Realizing that the
clearing house has grown to be the
the Clearing House Association CO.
operate with one another. this COM
mittee has endeavored. at its meet
ings: to bear in mind all of the little
clearing house banks alike. and our
endeavor in the following report is to
make few suggestions which we
t trust viii be of aid to all those
las everybody knows. Washington
has grown tremendously during the
war period. the deposits of all banks
being great deal larger than they
crease In deposits. of course. increas-
ing the volume of business
we. therefore, submit the following
suggestions which we trust may merit
Association in due course:
Larger and more suitable quarters
for the meeting of the clearing house
should be obtained. At the present
with the clearing house manager
meet at IL o'clock in a room about
twenty feet by twelve feet A great
deal OF unnecessary confusion is
1t impossible to handle the work as
rapidly as it should be-
Uniform Slips Needed.
I've believe that a progressive ster
will be made if uniform slips on which
the items going to the clearing house
FOR exchange are listed are adopted
These slips should have legibly in
scrtbed at a convenient place, in plain
view. the name of the sending bank, to-
gether with the name of the bank to
whom they are to go. At the present
time there is no uniformity in the slips
going to the clearing house Machine
slips are attached to the bundles OF
checks, and great difficulty, we feel,
has been experienced by all banks in
proving their incoming clearing house
probably this lack of uniformity in
clearing house slips contributing to the
difficulty. We believe that carbon
form. such as is now used by several OF
the banks. will be of great benefit. 1t
Is also believed by your committee that
the slips accompanying the checks be-
tween the banks should be kept for one
mOntn, 1Or the purpose OF VerthcatiOn
by the banks concerned. Of the items
that have been exchanged. In this way
controversy over the amounts of items
passing through the clearing house may
be avoided.
Money Straps Also.
I'VE desire to recommend that uni
form money straps be adopted by the
banks. We mean by uniform strap, a
strap Of one color which would be I'M
derstood by all the banks to mean a
certain amount of money and a strap
of another color to mean a different
amount. In addition to- indicating
amounts by various colors, it is recon-
mended that the straps be marked with
the amount of cash included in the bun
die. on one side only, the name of the
bank placing the strap on the money to
be also indicated. This will be Of great
advantage. Sometimes a strap calling
for 81 900, with the amount indicated on
both sides. is changed to read s., 900
and only one side is changed. The con-
sequence is that in a case of this kind
the amount on one side reads 5000 and
on the other 1000, which leaves it en-
tirely to the paying teliers to prevent
the paying out Of erroneous sums. We
believe that a situation of this kind
should be avoided by the adoption Of a
Uniform practice which would prevent
errors and possible losses.
I'VE believe it would be an aid to