Evening star., 1920-06-14
URGE FOR UNIFORM
BUSINESS HOURS
Local Bankers Again Re-
quested to Work for
This End.
BY I. A. FLEMING.

oHliOTHl btHkIfS HOURS Is d ilNe lopit
in local banking circles today. Unlike
the rule in other cities the banks il
I Washington open at "any old time a
condition that may be remedied before
the convention of the American Bank
ers' Association meets here late in
October
In urging cooperation between the
hanks of this city this matter was re-
ferred to by Joshua Evans. jr., at the
recent convention. with a plea for a
uniform opening and closing hour. that
when the question OF business hours
was asked by some delegate to the
American Banking Association conven-
ZION the answer would be ANY old
tine-every bank for himself"
1t is matter that can be adjusted
and should be by the clearing house as
ISOLATION and enforced, as no one doubts
the ability of the association to make
good on any proposition it advances, If
1t determines TO do So
The District bank examiner is an
urgent advocate of uniform banking
hours. and shorter hours as well. in
the interest of the bank employe. be-
1ieving that the long hours now ex-
acted of the employees will drive cap
able men and women from the bank
ing business. and thus decrease the
efficiency of the force.
nus SET JHe face.
In the rush attending the fotation
of liberty bonds bank help were
overworked day after day and night
after night. At that time a 2 O'Clock
closing was advocated with the regu-
lar 3 O'Clock opening. The measure
came near adoption and had the clear
ing house stood to it's guns it would
have accomplished the purpose. Since
then some banks have taken down
THE shutters at $50 and probably
some at s o'clock.
Baltimore has set the example. Its
bankers close their business day at
2 o'clock, and Baltimore business con-
forms to the usage gracefully.
Because of the $3,500.000 paid out
by the government twice a month ex-
ceptions may be in order for the days
mentioned. and due consideration
should be given savings banks as to
exceptions desired.
William f.. Edmonston Resigns.
William E. Edmonston. who Fas
been president of the Real Estate
Title Company for years. has resigned.
and James j. Becker. vice president,
haa been chosen to succeed him. The
na~ president has been with the COM
pany for little more than thirty
years. Mr.. Edmonston will remain
with the title company as advisory
counsel.
United States Savings Dividend.
The United States Savings Bank
will pay the regular quarterly divi-
dend Of 3 per cent July / to srare-
holders Of record June 20.
On the Local Exchange.
csfumbia Graphophone. common
stock, was quite active at 32A, the
Quotation on the New York stock mar
tket at the time. District of Columbia
Paper 6s sold at 96. The market
elsewhere was slow and practically
nominal
Economy I'm Using Credit.
The Federal Reserve Bank of Rich
mond this morning mailed to local
bankers copy of an address made
by Gov. Harding before the federal
Using Credit" and an extract from
the annual report of the federal re-
serve beard on The Expansion of
. Credit" both state papers in the con-
:servation of credit movement.
The bankers of the advisory coun-
Gil agreed to give the address Of the
governor widespread publicity and to
act in full accord with his sugges-
tiens in the conduct of their business.
Radical and drastic deflation is not
in contemplation" said Gov. Hard
Ing. nor is a policy of further ex-
lead to disaster and must not be per-
mitted to develop. Our economic and
financial position is esse entially
strong. There need be no appre-
hension as to our ability to effect the
transition from wartime to peacetime
conditions. If reasonable safeguards
against the abuse Of credit are re-
garded."
Urge Development of Acceptances.
The American acceptance council,
through it's chairman, Paul NJ. War
burg. has issued the following warn
ing to the federal reserve board:
Unless the federal reserve board
puts itself heart and soul behind the
untrammeled development of accept
ances as a prime investment of banks
and federal reserve banks the fu-
ture safe and sound development of
+, the system will be jeopardized."