Evening star., 1922-07-09
EY I. 4. FLEMING

but for the unexpected. that 50 Ofte'
.haDpers to disturb the industrial
eouilibrium No one can tell wher
some union organization Will KICK
? over the traces and raise disturb
ance to the wrecking of prosperous
conditions.
One ssFike now on, the detection
of The coal miners. has more or less
serious aspect, but the rail strike
seems t. b- having trouble making
heaGway Seniority rights and pen
sions seem to have some value in
keeping certain men at their work.
lit is probable that some day these
features may be thorn in the side
OF the unions.
Many men would unquestionaDiy
60 back to their work if guaranteed
protection in life and limb, and OF
family.
1t is unfortunate that strike
order always finds an affirmative
vote the sober second Thought men
among the workers being m ne;
less majority. but Il minority that
must follow the majority.
Foreign Situation.
Latest dispatches on the economic
situation in Germany are tar from
reaysrrinS. What VIII oeNe.op, evem ts.,.
during ta@ coming week, Il matter
: Of vital i1nDU-. ..iIlce, al i.h'Igi l. wootd
seem as il i; would Dc necessary 10
extend a helping hand from some
quarter to the icrEer great ceH,ra IL IL
empire to keep It's mead OF rathe.
its marks above w <1er.
Any disaster to Germany would Dc
felt by France more than any other
nation. bu; its s!fect all over the
world would be pIfavorabie.
The feeling over here Is that LioEo
George VIII find way TO aid Ger
many bu. the very tact that the
mark is possessed of so little value
is disturbing financial conditions
1t was the disturbing factor IN
causing weakness in our markets
yesterday
ParkerS on the 5nry
Corcorau Thorn. vice president OF
the American Security and Trust Com :
pany. Ernest L. Herrel, vice presl,
dent of the Merchants Bank ana
Trust Company and Eugene Il.
Thompson. managing partner OF 'he
big investment firm of Crane. farris
& Co., are all serving the Dis'fic' oii
the present grand jury
They are splendid men tor any jury
thouEhtful. well informed. capable
II would seem that there is. per
hans. some little necessary h2rdsnips
In asking men to attend TO tne!r pus,
mess. If at all. in odd moments ana
TO give continuous term OF SIX
months to the public. Probably no
harm will result to the banks haH'eu:
as other officials are able 10 care U.
the duties of the absent o!nciais, pui
in the one case, that of Mr.. Thomp-
son. unuuestionably financial losses
bowa been sustained through his alb
sence from business.
Grand juries are necessary. but a
modification of the term OF service
would seem nothing more thah sihipie
Justice to business men
IT is of course fact that other
important business interests rave SUI
fered during the absence OF those IN
charge acting as grand jurors on
public duty.
g, Bankcrs' Convention.
In the rotogravure section OF TO-DAY
Star will be found reproduction OF
photograph of the delegates 10 'ne
recent District bankers conEehtioii a
Hot Springs. Va. 90
f., The bankers and their guests 10
tho number of 235 gathered on the
west porch of the hotel and posed.
The result is eminently satisfactory
raIthoush the reduction of the orig
inal photograph, has, in "a measure.
made some of the figures less dlstlnet
than in the original.
Federal Reserve Wins.
The federal reserve board has won
ont in its fight in North Carolina on
the question of the right OF tne sss
tem to demand payment at 1uii lace
value on all checks presented u
hanks in that state over the counter.
sent by express for collection or col
lected in any other way
When these banks refused to pay
checks in full. insisting on their al
legged rights TO make charges Ior cor
lection, the reserve system ,Ien.ion
to accept checks save for collection
as best they could. but refused 10
WELD TO one cent of collection charges
The lower court of the state en)oin-
ed the reserve system from pro'est
ing checks when not PAID at 1uii
face value.
The supreme court of North Caro-
lima admits that the federal law is
supreme: the fact that congress 'an
not force the paying BANK 10 remit
at face value on checks wisnout pay
ing some charge for service Is also
adnitted- but mo act of this state
can authorize the drawee bank 10
nav less than the face amount draWn
upon it by it's depositor or to remit
IT'S check in payment or to pay 1T
otherwise than in legal money.
Nor can it require federal re-
serye to pay a fee or bank in this
state to remit less than the face
value when the federal statute for
bids such charge.
Congress by forbidding the
charge prevents the federal reserve
from allowing that charge. and the
reserve bank has no alternative ex-
cept to demand payment OF the face
value of the check over the counter
in legal tender, from which no state
can release the paying bank without
violating the United States Consti-
tuition and it's obligation to the
drawee and causing the destruction