The Washington herald., 1920-11-12
BANKING HOURS
AREADOPTED
Prspsssi Changes which Started
Bank Fight Made Part Of Ar
ti<les Of Association.
QUORUM FAv0Rs NEW RULES
Regulations b Questisn Gsveraias
Hours 10 Be Aasmsteally
Effective December 9.
QUORUM FAvoRs NEW RULES

The bitter fight now being wased
~ the banks OF Washington has
yet developed no, signs of a let
Up oy either of the opposing par
nes- All members OF the Clearing
house Association comprised of
fourteen national banks, have re-
eeived q letter from the Clearing
rouse Association advising that the
amendments as submitted by them,
and to which the majority of the
associate members, comprises Of
savings Institutions and trust COM
panies. object so strenuously. are
now part OF the articles of assoeia-
ton and are In full force and effect,
it was learned yesterday.
Following is an exact copy Of
the letter.
TO all members Of the Washing
ton. ID. C.. Clearing House Associa-
ton:
The amendments to the articles
OF association. agreed to at a meet
ing of the Clearing House Assoeia-
tien held October rs. 1920. have been
adopted by the boards OF directors
OF a majority OF the members of
said association and they are now
part Of the articles OF association
and are In full force and effect from
ana after the 9Th day of Novem-
Der. 1920.
Your attention is invited to the
Iollowing provisions of said amend
kments:
First. on the 9Th day of De-
eember. 1890. the hours adopted for
opening and closing will become ef-
fective automatically.
Second. that part of Article q as
amended. known as Section .. which
prohibits any member or associate
member from sending through the
Clearing House any checks received
IN any way from a local bank that
IS not member or associate MEM
Der Of the association. Is effective
Immediately; and banks which han
die Items received from such local
banks must hereafter collect them
in son1e other way.
Third. under the operation of the
amendment to Article TO- the hour
for meeting on Saturday for the re-
demption of unpaid items is 12:45
O'Clock p. m. instead of 1880
O'Clock p m. As Saturday. Novem-
Der the 18th, is the first Saturday
after the adoption of these amend
ments. beginning on that day. and
after. the second clearing for the
exchange of unpaid items will be
at the hour of 12:45 o'clock D. m. ON
Saturdays"
The president of a prominent
downtown national bank. when dis
cussing the situation yesterday.
said: 1T is 10 be remembered that
the amendments now in question
were first proposed during the Dis
trtct of Columbia Bankers Conven-
tion, held aboard the steamer Mid
and. June7 and 8, and were favor
ably discussed by a representative
of every bank In the city. The mat
ter was then passed to the Clearing
House Association as the only or
ganization with ability to en-
force it.
While the proposed changes
would not affect me or my bank IN
the slightest degree either way il
may be Settled. favor the Clearing
Houses actions because / am a
member and believe that the suc-
cess of any organization can only
be maintained as long as harmony
exists 1t is to be deeply regretted
that the prestige formerly enjoyed
by the association has been dimin-
ished by unwise action on the part
of a few members"