Evening star., 1921-11-04
IMPORTANT ACTION
UNDER DISCUSSION
Clearing House Association
to Act on Trust Company
PIea-Bank Statistics.
BY l. A. FLEMING.

Inc W dSnlNRtOn Clearing nOuoe Ao-
sociation will consider a very impor
| tant subject at it's meeting next week.
On the action then taken will hinge
the question whether trust companies
are to be invited to join the ma
| tional banks Of the city in full mem
bership in the association or not.
Action will be taken on the specihc
application of the Washington Loan
and Trust Company to full member
| ship.
Sentiment has not fully crystaliized
! in the matter. although there are
| many member banks that would
gladly welcome the applicant
The trust companies of the city arc
all strong. virilc institutions. with
! capitalization varying from 100000
and are factors of immense impor-
tance in tho Washington field OF
| finance.
| Local Bank Statistics.
At the close of business September
6 the national banks of Washington
had resources cf s1l0.S20.00o: loans
and discounts. s55, $4,000; cash in
banks. s3,446,0o0: on reserve with
Richmond Reserve Bank, s6,3S4,000:
the twenty eight savings banks and
five trust companies had resources or
s106.592. 900. loans and discounts of
| sbo, 'fo,ooo ana $-'sos'ooo III ACTUAL
| cash.
Capital stock of national banks
$7.677. 1000; surplus and profits. s7,soi,-
900. and :7s,c0o,000 individual de-
posits
The five trust companies and
| s13.3ss,00 capital, stock. 3s.s4s.ooo
surplus and undivided profits and
sSl. 100000 individual deposits.
| The better demand for bonds on to-
days session of the local stock eN-
easier financial conditions that hsv.
awakened investors to the value OF
good interest and dividend payers.
Capital Traction SO moved up IT,
the Potomac Electric. put out a few
days ago at es1s, sold to l00x, and
! the general SIS Of the Washington
hallway and Electric Company a.
94hs.
| In the stock list the inquiry wa
improved and a larger volume Of
business was transacted.
Large sales Of Capital Traction were
recorded at IS, Railway prefSrre.
changed hands at 5s and Union Trust
shares at 1lSia.
! Jthn B. Larner, president of tt.
, District Bankers Association. was Out
| this morning calling in his official ca
| pacity on bank heads and Junior Of
! ficials-a duty call in connection Win
! the association.
| stimulating Banking Education.
| Floyd f. Davis, president Of the
Lincoln National Bank, called tn"
large clerical force of the bank to-
gether yesterday and made known an
offer from the institution OF go 70
every clerk who should successfully
] negotiate the elementary course OF
! the Washington Chapter. American
Institute in Banking. and $50 TO each
cl .rk who completed the course ol
! hai NarfifCataS
| The Lincoln National Bank by this
effort to stimulate educational ef-
forts on technical lines by their EN-
ployes refutes story recently made
public in which it was claimed that
a technical knowledge of banking
; was not necessary to successfui op-
Grafton of bank"
The directors Of the Lincoln Ma
/ tional feel that such a course OF
study as offered by the institute is
necessary in order that its employs
may render efficient service to thc
! bank and to the customers as wei.
/ Mr. Davis stated that leach clerk
possed a capacity for real prog
ress that can only be enlarge
through intelligent work anoe study:
and as 1t is enlarged the bank vii!
find the opportunity to make use o!
the increased capabilities"
Another 500 900 to D.p"sits.
The Northwest Savings Bank addea
officers and directors. iuno ms IN
usual custom, dined and talk"'!
every phase of shop talk.
Frank S Bright. wee president "'
the bank. was toastmaster and tn
guests of the occasion were l. "
Davis. builder Of the new bank build
ing; ]. s. Simmons. architect; ID: II.
,acny. OIlver .siuith ana K. II. feF-
gusson.
The POSTMASTER promised dinner
to the guests and officials When IN
deposit mark had crossed sl.0Oo.oOo.
president Savage urged Closer CO
operation between the bankers of tn.
city, a standard form of note ana
enlarged credit facilities for patrons.
!, Gregg {. Burns, cashier OF m. IN.
Foundation for making very large
ibank Our present deposits show
that we have won the friendship and
iconfidence of our nelghborhood. We
have reached the point Of assured
success with 100000 Of deposits. We
gained 100000 last year. gain In
which our attractive new building
lplayed some part, Inspiring conh-
dence.
,year we will be near the s?oo,Vo"
mark in deposits
Warrington Railway and Electric.
During the month Of September the
net profit of the Washington Railway
and electric Company Is given "a as
s4A.3O. as compared with s2i.2lc
for the same month last year. but
very far below the returns OF S234,Zsl
! fer the month of August this year.
! The net income Of the Potomac
Electric Light and Power Company
for Septembcr, S62.S95.60. compared
. with s46,027 in August and s30.246.os
, for September. 1920.
The so-called feeders OF the parent
company. tn. washington hanMas wa
: or less handsome denclts.
Warning.
| Tbc American Bankers Association
: tissues warnings concerning w. H
: Harrison and A. A. Preston. win nu-
merous aliases, who have been cash
> ing forged checks in New Jersey.
Harrison. alias J. F. Crissinger.
:, charles d. Simmons, NJ X. Lewis and
f. Mcclellan, weighs about 10
! mounds. is slender smooth shaven
and has brown hair. Affects soft
collars and looks like q mechanic.
Preston, alias James G. Sabatella.
III. d. Staples, ". E. Hodgkinson, Z.
IF. Mcclellan. is, described as loo
pounds weight. medium build. saiiow
complexion. forty to forty-hve years
. of age.
They work through open accounts:
. which become active, are continued
, for "a time and then IaI,eneu I" tn
forged certified checks. which are de-
posited and Immediately drawn against
Tne Original deposit has been largely
withdrawn before the coup.
| A. l.. Satterwhite has resigned the
presidency Of the Union Laborers
Savings Bank, owing to illness IN MS
4. ia, Iaroes II W. Howard has been