The Washington herald., 1922-11-21
D. C. CLEARING BODY
BANS CERDFIcA1IoN
OF ALTERED CHECKS
Checks Passlng Through Q. c.
Body to Be Certified Only {.
on Request Of Drawer.
By CHAs. p. sHAEETERl

~ NAAnos 04Af4A@8
Pending amendment Of the. Nsgo-
liable Instruments Act IN the case
Of certification Of an altered check.
the Washington Ciearing House yes
terday adopted q rule under which
checks clearing through the ciear-
ing house will be certified only upon
request Of the drawer. This ruling.
4 adhered to. win eliminate an pos-
sibIlity of having certified. for In
stance. Q check made payablsi 70 a
which was stolen by B. who erased
AS name and inserted his own
Under the Negotiable Instruments
Act at the present time. the bank
certifying such q check 10 held liable
for the loss.
This step, according to Harry v.
Haynes. secretary Of the Clearing
House Association. II an important
one in the protection Of banks In
terests-
The secretary Of the association
was also directed to get In touch
with members and associate mem
bers Of the association with the
view Of selecting the best form Of
deposit ticket which win embody the
elements Of q contract between de-
pos. tors and banks. with the specific
statement that checks win not be
considered as cash until same have
been duly honored by the institution
upon which they are drawn This
step il the elimination Of recent
legal action against the Franklin
National Bank, which refused. to
honor q check when the only re-
sources of the drawer were several
uncollected checks. In this case the
Franklin won the suit
The Bank Of Brightwood was ad-
mitted to associate membership to
clear through the District National.
GAS EARNINGS.
Earnings Of the Washington Gas
Light Company continued on a
seasonal though relatively even
tenor during the past month. the
net income for the period amount
ing to S2S,ss5.4s. which 10 slightly
less than for the corresponding
period of last year when profits of
S32, 1879 were reported. The in
come during September. 1922.
amounted to s4.6ss. while . small
deficit was reported for the pre-
vious month.
Operating revenues during the
period amounted to $685. with
operating expenses totaling $751;.
$50. The total net revenue Of the
company amounted to Ss6.373,
while the sum of S35,103 was de-
Quoted to meet interest require
ments.
On the other hand, the net in
come of the Georgetown Gas Light
Company gained slightly over the
same month Of last year. This
subsidiary reported earnings Of
$2.749 during October last. as
against s2.2ss for last year. Op.
Grating revenues amounted to $3s..
3S7, with operating expenses total.
ing ss2.30s.
A huge gain in operating reve-
nues, is wholly responsible for the
gain shown over the previous
month of September.
OPENS BRANCH.
In the face Of much recent agi.
tation here against branch banking
by national institutions. the Second
National Bank yesterday opened an
uptown office at 1888 G street north
west. Permission for the branch
was duly secured from Comptroller
of the Currency last Saturday.
The purpose Of the branch. Presi-
dent Deyber explained. is primarily
for the convenience Of the institu.
tioR's uptown customers. Vice
President John c. Eckloff IL a..
suming temporary management.
being assisted by Assistant Cashier
NJ. d. Esch.