The Washington times., 1922-10-08

Hoover, who was to have been the
star speaker at the bankers conven-
ton, caused keen disappointment.
1t was explained that he got as far
as New York, intending to talk, but
caved in. Little wonder. for Hoover
certainly has been plowing his way
through mountains of work since he
took the helm of the Department OF
Commerce.
Talking about banking. isn't this
curious fact? The two most profit
able banks at the opposite seaboards
of the country-one in New York,
he other in San Francisco-are tre-
mendously old-fashioned.
The oldest fashioned bank in New
York is the First National, headed
by George F. Baker, now in his
eighty-third year. but still fleet of
foot and keen of mind. He went
abroad for a jaunt this summer, and
the three younger men who accom-
glad to get home, for II they had
stayed another month Mr.. Baker
would have had them run off their
:eet. he was so eternally on the go
while abroad. The interior OF Mr.
f;aker's bank has no spacious marble
lomes. 1t is exactly as it was a gen
ration ago. The whole atmosphere
reeds dignity and antiquity.
Dat ha hnDk nava dividandR Of
so per cent a year.
Three and half thousand miles
.tcross the continent is another bank
which, the published statements
show. has during the last half dozen
years increased its surplus profits
as much as all the other national
banks In San Francisco combined.
This is the Crocker National
Bank.
It is, and almost from the start
has been. headed by William H.
Crocker, of the well-known Crocker
family OF California. And, curiOusly
.nough, Mr.. Crocker is quite as old
fashioned in his banking ideas as
IS George +. Baker, Notwithstanding
that Mr.. Crocker is relatively
Young man-just turned sixty. Both,
TOO, have attracted accounts more
notable for their choiceness, their
magnitude, than their number. The
Baker bank has made a speciality of
the accounts of big corporations. Mr..
Croclier's bank has as clients a lot
of wealthy, old families and In
dividuals and corporations.
The CroCker hank really was start
ed to give young Will CroCker, as
ne then was, a job. Mr.. CrOckcr's
'ather first was successful mer-
chant in Sacramento, Cal, but made
lis b & fortune by joining with three
or four others in building the Cen.
trail Pacific railway. from Sacramen-
o to Ogden, Otah. After viii had
finished his education at Yale his
father said to him: It's time for YOU
O start work. have an oppOrtun.
ity to start a new private bank, in
'ompany with banker. r. c. Wool
worth, and l would like to put you
IN that line of business" So the
Crocker. Woolworth & Co. Bank was
launched. in 1883. Later the name
was changed to the Crocker National
Bank. But banking methods weren't
changed.
Mr.. Crocker's conceptions Of the
banking bus. ness will astonish mcst
people. l happen to know both MIR.
Crocker and his views well.
Il still adhere to the old line OF
banking" said Mr.. Crocker, who is
now in New York. attending the
A. B. A. convention. Il believe In
preserving the old rules we fol
lowed thirty and forty years aKo.
They were sound. believe in sound
ness. believe in dignity, in the
utmost dignity in conducting Il
bank. I don't believe in making
loud noise. believe in conservatism.
am conservative to the last oe-
.srcc.
The result Is that we haven't
;hc largest institution 'or the larE.
st deposit or the largest this, that
or anything else, except here Mr..
Croker smiled. except the largest
profits OF any national bank in the
'ity. We haven't had losses to
worry us. We do great deal Of
,ur business with quiet. dignified,
rich, old.fashioned people. They
"ldom borrow. Most of them never
come into the bank. Our bank Is as
Iuict as the growing grass.
After al. what is banking? II
8 caring for peoples money and
engaging in financial operations.
regard a clients relations with his
bank as being as confidential as hts
relations with his doctor or his law.
yer. The affairs Of our clients are
never mentioned. We know them
and have confidence in them, and
they know US and have confidence
in us.
"If I had my preference our hank
would be located down some quiet,
secluded side street, just as you
find the Rothschilds, the Coutts AM
other great banking houses in Loa.
don and Paris located. Some of
them haven't any sign on the build.
ing to tell what they are-perhaps
a modest. a very modest name
plate. nothing more.
That's the kind of banking that
appeals to me-"
N'ori'v dIffnrnpt fneO diffarnpf