Evening star., 1921-06-17
DISCUSS SPECIAL
DISTRICT EXAMINER
Bankers Believe Action May
Be Taken-Would Give
III Credit Information.
BY L A. FLEMING.

BY L A. FLEMING.
, Bankers are not unit on the re-
vived proposition to have clearing
house bank examiner, in addition to
: the examining forces of the office OF
the controller Of the currency. ihe
matter was brought up before and
like many other regulating PROPOSE
ton advanced by the Bankers Asso-
citation, and at their instigation, by
the clearing house. sidetracked IN the
final effort at enactment.
: 1t is a fact, however. that the ma
a. tional banks, trust companies anu
some of the larger savings banks Ia
sayor the added protection Of such an
iohlcial, but more than all else tney
<,iesire the advantages that would ac-
crue from the establishment. through
s-eAe ability of the private pank eX *.
zsiminer to supply the facts Oh creo''
Mhnreau. -.
" The service Of the credit bureau OF
Etae Retail Merchants Association has
Hbeen frequently placed at the service ,se
~ the bankers ,SH-mat,on ont rne ,n'' on mer.
@lchanants than on retail buyers Al
Xthough there are many OF the latter
Inho are frequent borrowers. 49,.
&tsat You'd Would be available. only for the
E4aming of the borrower and the
Nehants than on retail buyers. al
Wfng banks, might save his salary
xannually to the banks. .,.+ M
action may be taken. the sentiment At
Ithe bankers convention was SO
overwhelmingly favorable to ,sGaa s1en
Neetion. that the chances seem 10 taS tSe
Nxhe naming of an examiner II tne
Might kind Of an able, impartial off,
I.cial can be obtained.
WZIf such action is taken it will un-
Mestionably be through the Clearing
Mouse Association. which mas tne me
Regulations.
IAN advertisement of the banks OF
s<fhe city that are under the special care
Iof the clearing house examiner wouio.
I'd all probability. be q potent iorce In
Ibfinging every institution IN the LIS
Ltpict into line.
MIiAn examiner would Of necessity
sxhhve to be we'll versed in banking.
dnpartial. secretive and close moutheo'
~. Washington with its numerous de-
Mfalcations during the last nve years
evidently needs such an official. whose
systematic checking and auditing
I;ypould stop pilferipg. fraudulent work
Xand illegal interest absorption.
" 1t is likely. too. that John B. Larner'
1.-The new president. may also make some
Huioyement during his term OF ONCE 10
bring the Clearing House Association
land the trust companies into harmony:
Nperhaps TO the opening of the gates OF
membership in the former to the latter.
Mr.: Larner has called the .lssdas nIss meet, I,
next week. The executive council Will
meet Saturday.
~ Railroad items.
II z Louisville & Nashville directors have
s5eaIled a special meeting to act on their
Recommendation for an increase In stock
Efnom $72, ,000, 900 to $125. 900 for the
>R divfHand
Hfhe company's profit and loss surplus
amounts to $S2,000.00. A wise policy in
these strenuous times would suggest to
ian ultra conservative board OF dfrec-
Mntact for the possible needs Of lean
~ The declaration Of a stock dividend
EbAt adds to the charges. and most OF
&fie industrial corporations Of today In
trouble, with their stock on the down
EHfade, are corporations that paid stock
<Afvidends in 1920.
MsCrucible Steel directors. after big
SHtock dividend last year, now pay per
Ecsnt per annum. Last year it was Per
HcAnt.
~ The Hooking Valley Company pays no
" The Atlantic Coast Limo declared the
Etegular dividend.
kSunallest on record.
mfChesapeake & Ohio Railroad Company
sdeferred action on its dividend and gave
Tthe bears another charge OF powder Tor
Eheir raids on the list
w Oversubscr1DttoA HEAVY.
t#3Allotments have been made for some
Nrexional districts Of tho federal reserve
s1ystem on the new one-year Treasury
Scertihcates of 40 per cent OF sub9crfp-
stlons received. while for the three-year
Snstes 50 per cent Of subscriptions were
s&tioted.
This ratio will probably be very
S1enerally the rule.
III Local Stocks Easter.
N while there was no great activity
I'm the local market generally speak
ling, Railway common was quite &C
Htfve with a reaction to 80. at which
price 120 shares changed hands. Rail.
&aNy &ay preferred was slightly easier at
MCapital Traction was OF about a
Ipeint, selling at S6h. Gas sold at AN
Efo A. and Gas So at tn. This mar
fket has paid little attention to the
bear raids on Wall street. but some
nervous holders.
n Continental Trust, 104.
~. Call money, to z per cent.
E#; Dividends Declared.
MiCommercial National Banks regu-
1Sr quarterly 2k per cent payable
xJuly 1 to shareholders of record June
H.f. Books will not close. Washing
company will pay IL on the pre-
E1erred stock July to shareholders of
Ifecord June IS. and dividend OF l
Eper cent to holders Of the common
stock, payable July I:
1.-THE International Finance Corpora
Ehon will pay a dividend of So a share
E4n the common stock to shareholders
20 record July 81. No statement Is