The Washington herald., 1921-08-06
FLATHER OUTLINES
BANKINGToNAVAL
SUPPLY OFFICERS
American Security &
Trust Official Conducts
Third Lecture.
URGES CLOSE UNION
Is Essential Part of Modern
Industrial Organization, He
Says-0ther Local Notes.

Alfred c. Flather, formerly senior
flieutenant. Supply Corps. U. s. N.
and now manager OF the new busi-
ness department of the American
Security and Trust Company. having
charge Of the business development
in all lines Of the trust company's
business such as trust, real estate,
insurance, banking, etc. conducted
the third Of the series of lectures
on banking fundamentals before na-
val officers Of the Supply Corps at
the Navy Department yesterday
morning.
The topic chosen for Mr.. Flather
was Bank Organization and Admin
istration." each particular phase Of
the business being covered fully in
the address. Mr.. Flsther then de-
fined dsties Of stockholders. stock
certificates, the duties and respon-
sibilities of the board OF directors,
and all bank officers within the
rank of president and dindividual
bookkeeper.
Concluding his address. Mr.
Flather said:
Always there has been feeling in
some quarters that banking was
rather an exclusive and privileged
business, remote from the people,
but exercising a mysterious and ir-
responsible power. It has been said
that the privilege of using bank
credit is dispensed without regard
to the best interests of the pub
lie, Objectionable purposes being
frequently favored, while persons
who would use 1t productivity are
denied accommodations.
1T would contribute to good feel
ing and be generally helpful, IL
whatever there is of mystery about
the banking business might be
dispeIled. and everybody could have
a full knowledge of banking
principles and OF the relations OF
banking service to all the activi-
ties Of the community.
1T is a mistake to think that be-
cause a person does not have a bank
account. or enjoy the privilege OF
borrowing at a bank, he derives no
benefit from the banking system. A
man might as well say that he never
travelled or shipped any goods. and
therefore derived no benefit from
railroads. The banking system is
an essential part of the modern in
dustrial organization and the highly
organized system Of trade by which
products and services are ex-
changed. 1t provides facilities for
industry and trade which effect
great economies in production and
exchange and cheaper the cost OF
the necessaries and comforts Of life
to all consumers"
Victor B. Deyber. president of the
Second National Bank. will deliver
the next address on Mature and
Uses of Money" on August s.
Local Securities.
Trading on the Washington Stock
Exchange was practically without
feature yesterday. Dealings In odd
lots characterized transactions dur
ing the regular trading period, IS
shares of Washington Gas Light
stock changing hands at ~ and
42X. Capital Traction stock sold to
the extent of 25 shares at SIN, and
5 shares of Mergenthaler Linotype
sold at 119k.
Anacostia and Potomac LIST SIS
6unEuaranteed), heretofore highly
inactive. broke into the trading and
sold to the extent of $4,000 at 6S
Call money advanced, II per cent
being bid for 61z per cent funs
Personals
Maurice Otterback, president of
the Anacostia Bank, accompanied by
Mrs. OttGroack, started for the Con-
gress Square Hotel, Portland. Me,
Yesterday afternoon, where a two
weeks vacation will be spent.
Robert V. Fleming, vice president
Of Riggs National Bank, Is spending
= the balance of the month at Cape
Nav N J.