The Washington herald., 1920-06-09
SECOND ANNUAL
SESSION ENDS
Convention Brought to
Close on Board Mid
land Last Night.
VOTED HUGE SUCCESS
Entertainment, Cards and.
Dancing Fittinsly Con
clude Program.
VOTED HUGE SUCCESS

Following an evening program
yesterday the District of Columbis
bankers convention adjourned. The
bankers concluded their session
aboard the steamship Midland. COM
ing from Norfolk, Va.
Employment of a clearing house
examiner for District of Columbia
banks to facilitate granting of
credit and prevent overbuying was
urged by Howard Moran. vice pres
ident of the American Security and
Trust Company, in a speech before
the second annual convention of
yesterday afternoon.
The development of a credit fle.
by an examiner would be extremely.
valuable and helpful, particularly
at this time, when apparently there
is great over-infiation OF credit
and the Federal Reserve banks are
urging bankers to discourage the
granting of credit to merchants and
business men where IL is not i'm
perative and is for the purpose of
over-buying where 1t can be shown
by interviewing the borrower that
such Is the case" Moran explained.
Moran spoke at length on the
value of uniform statement from
borrowers of their affairs. He sug-
gested that the statements now
used by the association were not
adapted to use by the small mer-
chants and asked for variances from
these for the small merchants.
'As a matter of community in
terest and individual service, / be-
lieve bankers should extend every
possible assistance to the CONNER
ciaI borrower" Moran continued.
'and in persuance of that belief.
should make it a point to offer the
services of their auditor to help
their customers prepare these state
ments, particularly the smaller bor-
rowers."
r. V. Fleming. cashier of Riggs
National Bank, conducted the SYM
postum relative to practical prob
lens of banking on the morning
program.
Earl NJ. Amick. auditor of Riggs
National Bank. discussed the Ques-
ton of establishment of a credit
and information bureau as the FIRST
speaker of the symposium. declar-
ing Washington has outgrown the
possibilities OF bankers knowing
every client intimately 1T is now
a large city and is fast becoming
a commercial one and we must ad-'
vance with it," he said.
Means of handling the transient
department under the Federal re-
serve system were discussed by r.
A. Cissel. assistant cashier of the
Commercial National Bank. The
Federal reserve system fits in with
the working of our settlement plan
and is very satisfactory" he said.
George VI. Mckee read a paper on
The Foreign Exchange Depart
ment, Forms and Methods EN-
ployed." He was followed by 3.
5. BowIes. who read a paper on
The Collection Department, Forms
and Methods"
John B. Larner, second vice presi-
dent of the association, presided
over the morning session and NJ. r.
Rosenberg, president, over the
afternoon meeting Charles A.
Peple, deputy governor of the Fifth
Federal Reserve Bank. Richmond.
Va, discussed Trade and Bank Ac-
ceptances" at the afternoon session,
following Moran's talk.
The guests enjoyed an entertain
ment program aboard the ship last
evening as it piled it's way from
Old Point to Washington. Cards
and dancing formed the main part
of the program.