Evening star., 1921-02-28
WILL CONSIDER THE
PUBLICITY POLICY
washington Clearing House
Meets This Afternoon.
Senator Edge to Speak.
BY I. A. FLEMING.

The Washington clearing house
will meet this afternoon at 4 O'Clock
TO consider the policy to be followed
by the national banks in the District
in making public, through their pub
1fshed statements, certain information
OF a more or less private character as
requested by the controller of the
currency, to wit, the salaries paid in
the aggregate to officers and also to
employees.
The banks claim that this is a mat
ter of interest only to the shar ehold-
ers. and that they can obtain the in
formation without the slightest trou-
BILE
This and the amount of loans made
on Wall street on call and on time were
questions propounded by the controller
in his last call.
Some clearing house associations
have advised their member banks not
to make public these matters.
Under the law the banks must make
reply to the calls by the controller
within five days from the date of re-
Ceipt of the forms therefor. The law
further specifies that certain portions
of the forms must be published in at
least two papers of general circula-
tion. in cities of the larger size, but
makes no specification as to the time
limit for publication.
Most banks will furnish the infor-
nation desired to the controller, as
everything in connection with the
working of a bank is available to
him and his examiners for the asking,
but many will not publish their state
ments until the next administration
is installed
Senator Edge to Speak.
At the special meeting of the Dis
NAlY n -l-a
tion TO be held this evening. for the
consideration of the Foreign Trade
Finance Corporation in its various
phases. Senator Edge, framer of the
through which the various finance
corporations hope to assist foreign
trade. will make the chief address.
he taking the place of Representative
McFadden. who is i'll.
Senator Edge is especially qualified
to present the needs of the proposed
$10o.00o,0o0 corporation and to take
on foreign commerce and matters
connected Herewith.
1t is probable that H. H. Mckee.
president of the National Capital
Banks will also address the bankers on
the same subject. He heads the local
committee for receiving subscriptions
10 he stock and is familiar with the
preliminary movements of the Ameri-
can Bankers Association. looking to
liC Hidtioii oi tuc VIZ COTpOI4llOu.
The North Carolina Law.
Under the law recently passed by
the North Carolina legislature the
state banks of that state are refusing
to pay their checks without exchange.
1t is also noted that the law permits
these institutions to pay in drafts on
reserves elsewherein other words, a
check on any one of hundred banks
presented for payment may be paid
m rrvtt
some other institution, after first de-
Quoting the exchange. not less than
10 cents on any itehh.
The law is entitled ."An act to pro-
mote the soSency Of state banks"
Local Securities.
There was very little business
transacted in the local security mar
being of Railway As at 5Sh and Po-
tomac Consolidated 5s at 49,
The feeling on change is favorable
to a permit from the utilities COM
mission for present rates for service
on the Washington Railway and Elec-
trio. Capital Traction Co, and Wash
ington Gas Co.
Personal Mention.
Charles j. Bell, president Of the
American Security and Trust Co., re-
turned to business today after a short
outing in Florida Every one knows
Mr. Bell is some angler, but this time
he is back with stories of finny mon
sters seven feet long. plus, and pos
sessed of power to jump fifteen feet
out OF the sea. Even this did not en-
able them to escape. THE best fish,
ing of my career is the verdict.
People VIII BENEFIT.
Daniel Willard, president of the
baltimore and Ohio system, declares
that the people Will benefit through
the enactment of the Townsend Wins
low measure, whereby the railroads
viii be able to pay their floating OBJ
legations.
These millions will not be used
in buying supplies said Mr. Will
lard. but will simply go toward pay,
ing debts"