Evening star., 1921-04-01
TO RESC|ND ACTION
ON NUN|F0RM HOURS
Clearing House Association
to ReC0nSider-EIeCt
Officials.
BY. 1. A. FLEMING.

hours, as provided by the association
last faE. was again brought up for con-
sideration. After a somewhat pro-
longed discussion it was agreed to take
action at the regular May meeting of
the association, looking to the resembling
of the action formerly taken. thus lay
ing away, for the time being at least,
the matter of trying to regulate banking
hours for the District.
1t has been thankless task. put up
to the Clearing House Association by
the Bankers Association. An agreement
on opening and closing hours that would
please every one is next to an impos-
sibility.
H H Mckee, president of the Capital
National Bank, was chosen chairman OF
the association, vice Rudolph resigned.
and Harry V. Haynes succeeded Mr..
Mckee in the Office of secretary.
The Acceptance Market.
The Federal Reserve Board has is
sued bulletin on the acceptance
market in .the various regional dis
tricts, omitting reference to this Tea
ture of banking in the Richmond
district and in the Minneapolis dis
trict, where the volume of accept
ance is not especially large.
The board notes some Improvement
over conditions prevailing in Feb
rGary. but the market is by no means
active. Boston reports an improved
market with the reserve bank hold
New York reported a broad demand.
but there seemed to be little inquiry
for long-term bills. Lower rates
helped this inquiry The demand
from interior banks was good. I'm
port bills from the orient have made
their appearance lately, chiefly drawn
against sugar, silk, coffee and ex-
port of cotton. packers products and
grain.
business, February's bills totaline
S25,S87. .409.
Kansas City is working up de-
mand for acceptances in promoting
export trade, but banks there are not
in position to invest heavily in the
market.
Slow movement of farm products in
the Dallas district has restricted the
acceptance business. =
Porto RIcan 1-2s Sold.
The Guaranty Trust Company of
New York was the successful bidder
for the $500.000 Porto Rican work
il gmen's house construction Az per
cent bonds" carrying the indorse
ment of the United States government
The high price was 90.1S9. There
were five other bids made for the is
sue. the Riggs National Bank Of this
city offering 1919.
Local Securities.
There was an improved business
in local securities. with unimportant
changes so far as prices were con-
cerned, but with fair degree of
strength in fractions and Gas. Prac-
tically all the business of the ses-
ion was in the utilities, they being
the favorites.
CAPITAL Traction was wanted at SSA
to SS%. and a single share sold at
'SSE There was but one price for
Railway preferred. 5Sk. Washington
Gas was likewise steady at 43A.
Washington Gas SIS brought n, the
1o61s
Potomac general 6s sold at s3h
A few shares of Mergenthaler
brought 120.
Regular Dividend Declared.
The Union Savings Bank is mailing
checks for the regular quarterly
dividend, 1 " per cent.
Wall street Notes.
Baldwin, Locomotive has booked an
order for fifty locomotives from the
Atchison system
There are now 1o4.s76 individuals
holding the common stock of the
United States Steel Corporation.
Owens Bottle Company turned in a
net profit for 1920 of 100000, or
$S06 share on the common stock
($25 par value). after paying. pre-
ferred dividends.
Illinois Central for February showed
net operating Income of $1,519.835
somewhat larger than the net of Feb
ruary, 1919.
st. Paul showed net deficit for the
month. as did New York Central. Bos-
ton Maine and Detroit & Mackinac,
Cadillac Motor Company reports full
scheduled production to the first of
June.
April an important conference be-
tween representative bankers of the
south and the War Finance Corpora
ton will be held in this city, with a
view of ascertaining if it is possible
for the latter to be of assistance to
the south in financing cotton and
other agricultural products of the
south.
Attention is called to the fact that
1T Is not so much a question of rails
ing money on this side as it is to de-
veIop market in foreign countries
for the products.
Bank Opening.
The Standard Savings Bank. located
at 9Th street and New York avenue
northwest. yesterday morning formally
opened the doors of its elaborately ap-
pointed new home to the banking public.
This bank. situated in the very heart
OF this rapidly growing vicinity, gives
further evidence of the popularity of the
SSCtiou dS d puSiHeSS location, ana is eX-
pected to aid materially this commercial
center.
The Standard Savings is prepared to
carry on every business connected
with modern banking. A progressive
policy will be followed, though suffi-
commercial and financial interests.
Formalities will be strictly tabooed,
and earnest efforts on the part of Off
cials will be made to feature the per
sonal touch" which constitutes a
necessary element to the banking
business.
In the commodious banking room of
this new building. the wall and pill
lars Of which are of Italian marble,
will be installed modern fixtures of
mahogany and bronze. The indirect
lighting system adds greatly to the
general effectiveness, and will make
this one of the most attractive insti-
tutions of its kind in the city. Offices
for the officers and the directors room
will be adjoining.
safety deposit boxes, aggregating 5000
Of the latest design, insuring the great
est security from fire and theft
The Standard Savings has been do
ing business in temporary quarters
since its opening last April in part of
cap and lack Of facilities, it has
grown so rapidly that even now it has
won its place as one Of the most pro-
gressive banks in the city.
Officers and directors of the bank
are men prominently identified with To-
cal interests, and have given much of
their time to make Washington and its
institutions what they should be. Al
gernon S. Gardiner, head Of the Stand
ard, is president Of Gardiner & Dent,
D. Williams are the respective vice
presiding, while Dale 8. Vanable, for