Evening star., 1922-09-27
NATIONAL BANKS Z
RECEIVE CHARTERS
BY I. A. FLEMING.

| National banks of Washington have
received from the comptroller of the
currency their new charters and are
now authorized to do business con-
tinuously Hereunder for period
OF ninety-nine years. This action is
IN conformity with a recent amend
| ment to the federal reserve act.
Seeking to give national banks an
equal chance with state institutions
In the matter of fiduciary rights.
! where the local laws are not in cor
| flict. the original charter for Il TWEEN
! ty-year period only, was advanced
| as an argument against the perma-
nency of banks accepting authori-
cation from tho Federal Reserve
Board to do this kind Of business
whereas the trust companies ard
state institutions so chartered were
! given rights in perpetuity.
perpetual charters were suggested
oy the law makers. but compromise
on ninety-nine years was agreed to.
which may be extended for another
period of like length
The new charters are ornamental
ana bear the signature Of ID. Il.
Crissinger"
A number Of local banks are hav-
ing these charters framed for hang
ing.
More Delegates to New York.
NJ. ID. Rosenberg, president of tn"
Bank OF Commerce and Savings. VIII
attend the New York convention .f
the American Bankers Association
w. J. Waller. cashier Of the Amer
lean National Bank, has been dele
gated as its representative at tn
convention.
John NJ. Riordon. cashier of the
Bank of Commerce and Savings Ban,
VIII attend the convention. as vice
president of the savings bank ser-
ton for the District Of Columbia
Inc International Bank will b..
represented by John Il. Waller pres
cent. and a. c. Waller and Thomas
z. Lawler
Col: Wade II. Cooper. president of
'he Continental Trust Company. ard
senator Scott. chairman of the board
OF directors. have commissioned Mar,
): Nlnlfre" 20 represent the old Cor
! tinental at the convention.
First Draft ON Proceeds
The Secretary of the Treasury Ia
made his first call for per cent az
i the proceeds of The most recent sal,
or Treasury certificates to be pair
into the respective regional banks t.
morrow.
The amount called for is s1i35o .otn
Local bankers seem to believe tha
there Will be no further goyernmeU'
financing with October. the propose,
long term bond issue going over /,
! October 10 or November :.
| Banking Investmcnts
Most recent statistics in colfiriG.
| tfon of the fact that money is Ir.r
! likely to show any great stringer,'.
| is the facr that banks are hoidii.--
about S4,50D.o00. 900 i'm S.curitlr,.
while the stat" banks hold Sil.'r".
100000 in Investments. The ratio 80
investments To luauS is Favorable. -
! the former and is AN almost sur" IL
dication of continued easier rates i"'-
money. barring temporary furri"-
These banks have a little less thgI
| $4,000, ,060,60o loans outstanding.
The investments form liquid
! sources readily marketable should th..
demand from customers require lar--
! er banking resources.
Local List Slow.
| After yesterdays spurt 1h" mari.
! for local securities setrlcd back int.
, quietnesS. Today'S trades were gen
orally in odd lots Of no special iut-
! port
The exception was a sale Of Rail
way preferred at ia, indicating .
sharp Epturn in this stock and trans
actions in Washington Gas at 90
and o9l@.