Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-08-01

I have met the rate. as have some of
the governments and cities OF the
| old world.
But before they did this most of
the big corporations liquidated their
| liberty bonds
1t must have been more or less
tough shedding for the non-essentlal
manufacturing companies TO weather
| business at the same time me
| Graphophone Company is at the
| height of activity. but has TO pay .
I per cent for money. as do other cor
porations who wait for their cash un-
| til after sale on installments, as also
some of the cash-in-hand merchants
J They have paid high for accommo-
| cations and made reasonaplv ions
term notes not to be bothered with
renewals until conditions settle 10
fair rates and easier money
| Best News of the Week.
Locally the best news of the week
! was the declaration of the preferred
| dividend on the stock of the WASH
| ington Railway and Electric Com
pany.
! 1t had been predicted and was prac-
| tically assured by the action OF the
| stock in the market. The directors
! also took cognizance of the tact that
| there were so many woman snare
| holders in the corporation suffering
for the lack of the dividends on
their stock-men also-that they con-
| sidered it wise to strain a point.
though admitting that the dividend
| was earned
They may be able to maintain the
payment, and in doing so they will
| remove stain on our securities.
| Other local securities are dlScour-
agingly slow, but not more so than
| in all the marts of the country.
Convention Matters.
| R. n Harpe-. president of the
District Bankers Association, reports
satisfactory progress in connection
with the coming convention of the
/ American bankers convention. Com
mittees are all appointed and at work
and the results of their efforts Will
| be announced in daily bulletins from
headquarters in the near future.
! Polls Theater is available for the
general sessions, but Mr.. Harper has
not given up securing the Palace
! Theater. Polls is much larger than
| the general meeting place at the st.
| Louis convention and probably am
ply large enough for the four ses-
! sions.
|. Treating Clerks Generously.
| Washington has witnessed an object
| lesson during the year in the gener
Gus treatment accorded the employees
of many of the mercantile esta blish-
ments in tho retail and manufacture
ing line.
| SONue close DOWN all Jay SATURDAY
| for the benefit of their clerks only;
others close for half days, considera-
ton that would have been SO appall-
ing to the old-time merchant that it
would have been refused with more
or less positiveness.
! The bankers of most of our Ameri-
can cities of size have adopted to 2
as the daily business hours with half
day closing on Saturdays. They have
put this over in New York, Chicago
and elsewhere The big banks of this
I city favor it and should make the
attempt in the interest of their en-
ployes and officials who have worked
/ hard during the war period and who
are today working more than an av-
erage of eight hours daily. in the
early opening and the late closing,
with the records of the day to finish
after shutting their doors.
1t would seem a safe proposition
that the Washington business public
would quickly become accustomed to
! the new hours and be satisfied there
with and that the putting of the plan
into operation would not cost the
| banks the loss of a depositor.
| A test case might be made through
the closing from the 18th of August
to the 18th of September, sugges-
ton to which all should agree and
at least during July, August and Sep
TENDER hereafter.
| Personal Mention.
! R. V. Fleming, cashier of the Riggs
National Bank, will be at Deer Park
for one months rest, golf and recrea-
ton from arduous duties. Joshua
Evans, Jr., Will be at the bank Mon
| day morning.
Vital Facts in Finance.
| The following excerpts are from re-
cent addresses by J. Shelton Will
liams. controller of the currency. de-
| lvered before the Maine Bankers
Association:
Il think it will be gratifying to
you to learn that the banking power
i of the United States has grown more
| in the past seven years than in the
entire 125 years which elapsed from
the adoption of our Constitution in
1883 down to the year 1913.
The record also shows that the
assets of our national banks alone
last month amounted to approximately
| twice as much as the combined re-
sources of all the great national
| banks of issue of the leading coun-
tries of the eastern hemisphere, i'm
Guiding the Bank of England, the
the National Banks of Spain, the
Netherlands, Belgium, Norway, Swe-
, den, Denmark. Switzerland, Ru-
mania, the Imperial Bank of Japan,
the Reichsbank of Germany and the
Austro Hungarian Bank-if we figure
l
alent on the basis of the rates of eX-
/ change prevailing in June, 1920
! The unprecedented stability and
prosperity which have prevailed among
the business houses of the country
are reflected in the extraordinary inn
munity from business failure The
records show that the percentage of
failures to the total number of BUSH
ness houses for the year 1910, follow
ing in the wake of the greatest war
in all history, was actually the lowest
reported in any year since the civil
war. Such showing as this must
necessarily appeal strongly to every
business man.
| Among the national banks of the
country, the record established for
immunity from failure from January
| 1, 1918, to the close of the last fiscal
year, october 81. 1919, is many times
better than the best showing ever
previously made.
| 1.-The wider and healthier distri-
! button of the national wealth is sug
gested by the enormous increase in
the number of national bank de-
positors-over 100000 deposit ac-
counts now-less than 100000 in
1870"
IRON AND STEEL TRADING