Evening star., 1923-10-16
BANKERSURGE new
DEEDS OFFICE SPACE
Recorders Surroundings Are
Condemned-Trading Dull
on Exchange-Notes.

The District Bankers Association
unanimously went on record last night
az condemning present conditions at the
office of the recorder of deeds for which
the recorder is not responsible, and re-
ferred the matter to the executive coun-
Gil of the association for proper action.
The public interests of Washington
demand the deplorable conditions in
this bureau be relieved, II was said. In
the first place, the danger to which
these records are subjected to loss by
destruction through fire or otherwise is
4 hazard which the people of the city
would be compelled to assume, while
such a loss would take on the aspects
of an irreparable character.
The Office of the recorder of deeds
Is housed on the first four floors of
the Century building. 9th street.
There are at present sixty-seven en-
ployes, clerks, typists and comparers.
There are tWenty-nin5 rooms on the
first four floors, which are claimed to
be ridiculously small for the purpose
| for which the office Is forced to use
them. In several instances the en-
ployes are so crowded as to not only
seriously retard their work but also
The rooms are reported as not only
too small for either efficient work or
good health. but are lily lighted and
badly ventilated. Then. too, the pub
lie, having the right to examine rec
ords at all times, does not have ample
space and comfortable surroundings
in which to do this work. The lawyers
abstracting land titles are forced to
go from the first floor sometimes to
the fourth to find record, entaiiing
nf a
From 1917. when 24.736 instruments
were recorded. the number has
jumped to T0,To4 during the fiscal
year 1922. an increase of 45.968 In
struments. or nearly 200 per cent.
This phenomenal increase in business,
! taken with inadequate quarters. has
so delayed the delivery of recorded
Instruments that it is now impossible
| to surrender an instrument much
earlier than twelve months after date
of recordation.
It was pointed out that with i'm
! proved facilities, and an increased
number of operators. It would be pos
sible to catch up in the work of re-
cording so that instruments may be
surrendered in a reasonable sime.
1t is the belief that if the above
matter is properly presented to Con-
gress, through powerful enough bod
les. immediate relief in the nature of
some temporary location which will
be adequate to house the Office and
permit 1t to efficiently function will
| he provided.
This task the bankers of the city
will concert in trying to bring about.
Bankers Note Years Success.
James 4. Messer and Frank ].
Stryker. respective, president and
vice president Of the Columbia Ma
tionaI Bank. are today ceIebrat ting
completion Of their first year Of Of
| fee tenure.
The revitalization OF this old instf-
tuition since the present heads took
worthy of comment. Deposits during
the period have increased approx
imately 100000 and are now about
S3,0o0.000 Old. and inadequate func-
tions have been discarded and every
phase of modern banking practice is
in vogue.
A monthly mailed statement of ac-
count system has been installed. the
! interior and exterior redecorated. an
! efficient intraoff1ce telephone system
| put into effect and the personnel in
! creased in keeping with the boom
! enjoyed. New deDositors are syste-
| matically introduced, welcomed and
thanked by officers of the institu-
tion and every effort made to satisfv
the whfms Of even the most eccentric
Flora! tributes were exchanged by
the bank heads.
An offering of sf5, ,oo0. 900 curnuIa
tive preferred stock, per cent. series
A, of the New York. Chicago and St
Louis Railroad Company, $3.50 per
share, to yield over s5 per cent, is
being made today by a syndicate
York. Lee, Higginson & Co. the Union
Trust Company of Cleveland and
| Hayden. Miller & Co of Cleveland
The stock being offered by the syn
i5ation of the company. but was pur-
chased from Messrs. O. T. and NJ j.
Van Sweringen of Cleveland and their
| associates. Messrs. Van Sweringen and
proceeds from the sale of this stock
! for the retiTement of obliga tions IN
| CURED by them in connection with
/ the purchase of stocks of the con-
I stituent companies of the Nickel Plate
! system. 1t is further stated that they
are retaining controlling interest
| in the Nickel Plate common stock.
!. Institute Activities.
Activities of the Washington Chap
| ter, American Institute of Banking, for
this week will be as follows: Tonight.
elementary banking VIII be opened by
| on functions and types of banks. this
1 being the first of a series of lectures
! to be given by him on the practical
work in bank. Tomorrow night Ray
mond B. Dickey will give the second
I of a series of lectures before the law
| class on contracts. while on Thursday
| Prof. f. J. Donohue continues his lee
lures on economics. The new course
in credits will be inaugurated on Fri
! day night.
| Local Stock Trading.
! Small lot activity on the part of
Washington Gas 6s of 1888 at 1907
| featured the local exchange this morn
ing. Nine sales, for an aggregate OF
but $1,000, were recorded. Wardman
| Park Hotel IS sold at par
-; The stock list was almost neglected
| Ten shares of MergenthaIer sold at
! 15912 and five shares of Capital Trac-
ton brought l00I