Evening star., 1922-04-10
WILL CONFER SOON
WITH AUTO TRADE
Bankers Assured Hearty Co.
Operation in Protection of
L0ans-LocaI Notes.
BY I. A. FLEMING.


the Automotive Association. in an eff
fort to reach an agreement in the
matter of financing installment sale!
of machines that will be safe ant
sane for the banker and that will in
no way handicap the business of the
honest man in the automobile trade
In all avenues of trade and com
theirs while the getting is good, anc
the possibilities of the automobile
business have not been overlooked.
Commenting on the conditions. X
National Bank. said: '"rhere are toe
many good men. in the automotlvt
trade. and their business is too val
uable TO us and to the city, 10 oe
handicapped in their efforts by the
presence of a few crooks.
Those pests who think little OF
borrowing two or even three times
on one and the same car-and there
have been cases where fictitious sales
were reported. in order to borrow or
the cars-must be eliminated.
Harry V. Haynes. president OF the
Farmers and Merchants National Bank
said Financing partial payment OF
time sales of machines is large and
valuable part of District bankers loan
lines For tie purpose of continuing
agents. we propose to discuss and flnd
a remedy against those who do things
that are not honest In a word. the
banks must have protection for the
credit they are willing to extend, and the
interests of the banks and the automo-
bile business demand that an early
agreement for mutual safety be
reached
Cooperation between reputable deal
ers and bankers is assured.
Sentiment for Hot Springs.
Sentiment among the uptown bankers
seems to be favorable to the Hot Springs
as the place for holding the forthcoming
sociation. This matter will be discussed
at the meeting of the association on
Thursday.
At the last annual convention at
White Sulphur Springs the bankers
train left Saturday morning and re-
turned Tuesday night.
One plan under consideration. pro-
poses four full holidays for the
bankers. leaving on Friday night and
returning Tuesday night.
Local Bank Examiner.
From time to time in the last ten
years perhaps longer, the need OF
n private bank examiner for banks
in the District has been advocated.
After much discussion the matter
the table.
There it has invariably rested until
revived by a revival of the sugges-
tion.
Some of the most important bank
ers in the city >are said to favor an
examiner: others of equal Importance
declare that the bank officials have
about all they can do now, answer
ing queStionnaireS by the controller
of the currency. making public five
fay, amt Of fhniv
answering weekly questions from the
Richmond Federal Reserve Bank. 10
say nothing of the two exam nations
annually by the national bank ex-
aTiner and a question or two oc-
casionally by the Clearing House
Association.
This question will probablye be de-
bated Thursday. and if the cost
promises anything like recent esti-
mates. $4,000 to 100000 per annum,
table will again house the suggestion.
Personal Mention.
R. Golden Donaldson, president of
the Commercial National Bank. has
returned from Arizona. where he has
spent the last few months, greatly
improved in health.
1t was just repetition of previous
Potomac Electric and Railway bonds
selling rather freely without the
slightest change in quotations
Capital Traction shares, the only
stock sold. brought 95A.
Harding on Foreign Trade.
How to develop foreign markets for
American products. without swamp
ing this country with goods produced
abroad under lower wage and living
conditions. is one of the most i'm
portant problems before the ninth
National Foreign Trade Convention in.
Philadelphia next month. in the opinion
of W. P. G. Harding. governor Of the
Federal Reserve Board. In statement
approving the purpose of the conven-
ton, he says:
II am sure that the ninth National
Foreign Trade Convention will be of
great benefit to American agriculture,
commerce and industry.
I'VE have had. during the past two
years, convincing evidence that eco
nomic reaction and trade stagnation
throughout the world affect our
domestic conditions disastrously, and
as this fact is becoming recognized
throughout the country we find a
feeling that our foreign trade should
he developed is confined not to the
seaboard and industrial districts, but
has extended throughout the great
agricultural sections of the interior.
We produce in this country a surplus
of foodstuffs. cotton and of manufac-
tured goods in great variety. The ef-
feet of an unstable surplus of any
commodity upon the price of the
commodity is recognized by all eco
nomists, and foreign markets must
be found, unless production is cur
tailed, which would result in further
unemployment of labor and industrial
and commercial stagnation.
Buy Exchange of Goods.
For a country to sell. it must buy,
and it's clear, especially in the pres
ent state of world finances, that in
ternational trade must be carried on
by an exchange of goods and services
with other countries. In my opinion.
one of the most important problems
to be considered by the convention
will be the adjustment of American
trade relations with other countries
in such way as to develop foreign
markets for American goods by MAX
ing reasonable exchanges with them
without swampinS our own country
with goods produced under lower
standards of living and at smaller
costs.
The Federal Reserve Board recog-
niZing the Importance of affordinS
American banks an opportunity of
financing transactions growing out of
regulations, removed certain limita-
tions which We're permitted but not
required by law, to give American
banks an opportunity for the exer-
else. each in its own way. of their
discretion and judgment in financing
trade between the United States and
foreign countries. and between for
eIgn countries, observing always, OF
course, the expressed and ifuplied