The Washington times., 1922-11-21
D. C. CLEARING BODY
BANS CERTIFICAlION .
OF ALTERED CHECKS
Checks Passing Through D. c.
Body to Be Certified Only
on Request Of Drawer.
By CHAs. p. sHAEFFERI


Pending amendment OF the Neso'
table Instruments Act In the case
OF certklcation OF an altered check
the Washington Clearing House yes
terday adopted a rule under which
checks clearing through the clear
ing house will be certified only upon
request OF the drawer. This ruiihs'
Z adhered to. will eliminate all pos
slbility Of having certified Tor IN
stance, a check made payable to a
which was stolen by B, who erased
AS name and inserted his own
Under the Negotiable Instrument
Act at the present time. the bahk
certifying such u check 10 held i.apie
for the loss.
This step, according to Harry v
Haynes, secretary OF the Clearing
House Association. Is 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 will embody the
elements OF a contract between oe'
pos. tors and banks. with the specii'e
statement that checks will not be
considered as cash until same nave
been duly honored by the institution
upon which they are drawn. This
step is the elimination OF recent
legal action against the Franklin
Nat .onal Bank. which refused 10
honor a 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 10
clear through the District National
GAS EARNINGS.
Earnings of the Washington Gas
Light Company continued on
seasonal though relatively even
tenor during the past month, the
net income for the period amount.
ing to S2S,665.4S, which In slightly
less than for the corresponding
period of last year when pr0fits Oh
32.l27.29 were reported. The IN
come during September, 1929,
amounted to s4,6Ss. while . small
deficit was reported for the pre-
vious month.
Operating revenues during the
tA1 Nn
operating expenses totaling S321,-
$50. The total net revenue OF the
company amounted to SS6,313,
while the sum of sS5.1O3 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
s2,749 during October last, az
against s2,269 for last year. Op'
Grating revenues amounted to $685.
367, with operating expenses total
ing sS2 1903.
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 q 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'
tons uptown customers. Vice
President John c. Eckloff Is as
suming temporary management,
being assisted by Assistant Cashier
NJ. y. Esch.