Evening star., 1921-06-03
BAD4CHECKLAWIS1
before CONGRESS
Credit Men. Ask Bankers Aid
to Secure Enactment.
Summer Adjournment. '''
~ L A. PLElEINo

Under date Of June 1. 1871. the
Washington Association ef Credit
Men has eireuIaxised the bankers Of
the District. asking their aid and
hearty cooperation in putting over q
bad-check law in the District OF Co.
lumbia.
Time and again efforts In this Alrsc.
tion non have ave been neotralized ~ oppesi-
probability that the measure, II. r.
SSe!. as introduced ~ Fredersek u.
amman Of Aaryland win become .
Vt The measure is eesseA from sh.
the legislature Of that state In 1915,
largely through the action Of the
credit men OF national and New York
associations, aided by the business
men OF Maryland.
1t is not the intent Of the assoe,a-
tions or credit men to suggest penal
ties Tor carelessness, and there must
be valid and palpable attempt 20 de-
iraud or An actual defraudinG Of mes-
passing Of worthless checks.
Bankers are asked to do what they
can to bring influence to bear on Con-
eress to secure the passage Of this
matter and to keep in touch with the
ass1ciation IN the Colorado building.
cussed this matter time and again and
has given countenance to efrorts in
that direction. as the IN. g's" are such
a factor in the daily clearings as to be
q burden to every bank.
Qaiet in Leeal hanks.
After three very busy days business
At the banks showed a decided Iet-up.
payable on the s1l.s43.0oo 4 per cent
bonds of the Washington Railway and
Electric Company. and on the SIS. 500
700 Capital Traction SIS as we'll as on
the 100000 first general SIS OF the
washington Railway and Electric
kept matters busy Wednesday and
Thursday. while banks were crowded
with depositors all week.
Entering tax checks by the millions
OF dollars has given the ledger keep
ers all they could do.
The Potomac Electric Power Com
pany paid of the coupons on $500 =
600 FIRST IS. On the 18th instant semi
annual interest will be due on the first
3M liberty bonds. and various later is
sues into which they have beer con-
verted June Is
Checks were received on the LIST
for the dividend on Lenaon shares
the great bulk of the $1,000 900 stock
being owned in this city. 1t requires
'SSpTG piinonp 70 pay rs .hs qIarseriy dividend
Washington Savings Bank, Columbia
Title. Real Estate Title and National
Union Insurance companies pay their
dividends during June.
juno Is two Treasury certificate
issues mature. one for $.4e,5l1, ,oeb
| and one for $1ss.123.00o.
Bankers' Conventfen.
Ezra Gould. chairman Of the COM
! mittee on tennis announces that in
| the games at the convention all
matches will be best two ont Of three
sets. with the winners being called
upon to play twice each day. Two
handsome silver cups will be given
TO the winner and the runner-up,
All entries must be made with Mr..
Could on train before reaching White
James Montgomery OF the Wash
| inston Loan and Trust Company will
discuss New Business and Bank Ad-
the Federal National win taik on on
Everyday Bank Problems"
Junior offctais in the various banks
have been instructed to suggest pos
sieie reforms that might be of ad-
R.eN Harper will review the work
OF the, association from organization.
The program is rapidly taking
gathering. Latest information is that
| Controller Cfissinger may be the
guest Of the convention at the last
session.
HiehR8AA Reserve Bank.
The sixth annual repor, OF tn.
Rioamond Federal Reserve Bank
for 1920 shows. with oth.r
things. that the average daily
loans to member banks on paper wer.
2s.1s3.677, or $4,000. 900 less than tn =
average of the previous year Tho
I transit department handled IN tho
year 33,G31.Se1 items for a total cf
more than $1I. loot. .ooo, 900. as compared
with e0.sS4.s45 items for a little over
ss.so4. .0oo. 900 in 1919.
The report stresses the value Of the
! private wire system of, the bank,
which has greatly assisted in busi-
, ness. as Washington bankers know,
| through their daily settlements with
ont cost. Messages numbered $4,000
! Cross earnings were se,sos.14s. OF
! which 80 per cent resulted from dis.
count OF paper and purchase Of paper
Average rate on discount was SIS
per cent.
Aaj0afAs Saturdays.
The local Stock Exchange has initi.
ated the usual summer adjournment,
on Saturdays during June, July, Au.
gust and September.
7. Business today was confined chiefly
to Railway Is at 81 and Anacost.a 5.
at 73. with Capital Traction share.
easier At 81.