The Washington herald., 1921-08-12
A.B.A.I0 FEATURE
CLEARING HOUSE
EXAMINERS PLAN
Symposium Will Be Led
By Charles Meyer,
Chicago Chief.
OTHER LOCAL NOTES
Savings Bank Under Exten-
sive Improyements-Dis-
trict Issues Are Dull.
OTHER LOCAL NOTES

Ine' uedTlnk mouse SeCIlOn Oh NhO
Anne han Ian" "-s' Assn'iit.on plans
as one of its Los Angeles conven-
tion, program features the Clear
ing House Examiners SYSTEM,
symposium led by Charles H. Meyer,
chief examiner of the Chicago CleaN
ing House. Other subjects will he
chosen and the clearing house -sce
tion's complete program will be an
nounced within a short time. Head
quarters at Los Angeles will be
at the Clark Hotel.
With the Los Angeles convention
almost two months away. news that
approximately 100 reservations
have. been made at the convention
city hotels. both direct and through
the Los Angeles hotel committee
of which Fl. F. Steward is the chair
man; makes it look as IL the at
tendance October ; to Z Will be
heavy. Delegates are urged to COM
municate with Mr.. Stewart imme-
diately.
- state Bank Program.
The State bank division of the
American Bankers Association Is
rounding out it's program for the
Los. Angeles convention. Par Col
Iections" Is one subject already cho-
sen for debate, and II is expected
that the other subjects will be de-
cidsd upon within a short time.
Commenting on the status OF the
Nelson bill, which would permit the
States to tax national bank shares
at any rate they please. provided
only that the tax would not be
greater than that imposed Ipon the
moneyed capital used in banking.
General Counsel Thomas B. Patton,
of the American Bankers Associa-
tior, says the bill has been referred
to a subcommittee of the Banking
and Currency Committee of the Sen
ate. Senator Newberry. chairman
of the subcommittee. has requested
the Sfews of the American Bankers
Association upon the bill, and my
office is NOW in process OF obtain
ing the views of the members OF
the executive council upon the prop
osition. The general feeling is one
of opposition, it being the opinion
that the result would be unjust
and discriminatory taxation.
Trust Company Notes.
Theodore G. Smith, chairman Of
the executive committee Of the trust
company division of the American
Bankers Association. has sent no
tice to members that the Los An
geles convention. october TO T.
will be the divisions silver an
niyersary.
The trust company section was or
ranized at ST. Louis in September.
1895. II is the senior division OF
the association and its approaching
- NNTa - 20
milestone. A program of both his
toric and timely interest is being
prepared. says Mr.. Smith, the open
discussion" idea to be developed still
further than at recent meetings.
This let's any delegate participate
In the discussions listed and he may
Introduce new topics for consider
alton
The Ambassador Hotel will be
trust division headquarters. and Mr..
smith urges delegates to let IL.
2. Stewart, chairman Of the hotel
committee, care of the Farmers ana
Merchants National Bank of Los
Angeles, know what their reserva-
items will be.
Savings Bank Improvement:
The Security Savings and Com
nercial Bank is undergoing exten-
dive improvements. the rrost iInpor-
tant Of which will result in the
transfer of the savings department
10 the adjoining site on Ninth street
which property is being entirely
remodeled, placing IT on par with
the modern structure which now
houses the institution
Local Securities.
Securities on the Washington
Stock Exchange failed 10 better
their position in any way G"rinG
Yesterdays uninteresting session.
Washington Railway preferred stock
started the days activities with two
sales. aggrerating 20 shares at 55.
capital Traction stock sold to the
extent Of 10 shares at S7h. while
the 5. per cent bonjs of the COM
psny broke into the trading to the
extent of $1,000 at S7h.
Call money was slightly easier
5Iz per cent being bid for Ga per
cent funds.
.ssts Peraau1I
c. r. Lyddane. cashier of the Fed
eraI National Bank, will start on
IN extended automobile tour through
New England and Canada tonight.
He will be accompanied ~ Mrs.
Lyddane and a few Intimate friends.