Evening star., 1924-10-26
'@This and That in Finance;
Futile Efforts to Gather Cash
Portrait on Bill Settles Bet-LOcaI Bank.
ers Out,vit Sharpers-W0rld Series
? Echoes-Trade Lively.

the branch bank, etc, the spaghetti
merchant was about to take his leave
when he incidentally remembered that
he did not have much currency with
him. "and the Willard just fairly need
ed the cash." hence please cash my
check for $300?"
Fluey! And $4,000 that looked like
a goodly sum few minutes before
the "cash-my-check" query. took on
the appearance of 80 centimes or
marks.
Two wires was all it cost, one to
Los Angeles and the other from there
to Washington.
in the world to get money or its equiv
alent from the business man.
1t is mighty hard to work the
bankers today. They are wide awake,
they are in daily communication over
attempts to get something for nothing.
The sharper is just as liable as not to
run UP against his own record for the
| bankers exchange information these
days, passing names around and greet
ing old-timerS in this particular field
with laughter
Moreover. he must be a smart man
who puts it over, if there is a flaw
anywhere in the story.
Had a Right to 1t.
Not long ago vice president OF the
Bank Of Italy appeared at one of our
largest banks and asked for $4,000,
saying that "he was going out to the
game and would need 1t If opportunity
offered for a wager" His signature was
Q. X, but-well they have got TO be
sure these days. and they were not
quite sure enough.
But later on the evidence arrived by
wire and the currency sent to a local
hotel The official was out, but the
clerk told the bank man that he guessed
he would not need the $4,000, as he
had won that amount on the ball game
and had deposited it in the hotel safe
over night.
And the President. Too.
And the president Of the Bank of
Italy was also at the world series
right up to the final game.
A. P. Giannni. head of the institu-
tion that has established branch banks
all over the State of California. scores
of them, and has made wonderfully
good during the last 20 years. with a
record of s17.500,oOO capital, s717S,470
surplus and S297 967, 900 of deposits, a
branch bank exponent and advocate par
excellence, journey across the continent
to see Washington win its laurels.
Bankers came from all over the coun-
try to the series and the local bank
officials were put on their metal to Sc
cure the required pasteboards.
Do You Remember.
Do you remember what the total bank
clearings of the city of Washington
were in the month of September, 1904 ?
OF course, YOU do not. Well, they were
exactly SIG. 062, ,020. And to show just
how great an improvement there has
been in the business of the National
Capital it is but necessary to present
the clearings for the month Of Septem-
Der. 1924
They were $50, ,oo3, s3e. or s72,s41,s1s
greater than for the same month 1904
And business is good today-the
women's wear stores are as busy as
bees and the prices are profitable
1t is like old times to note crowded
establishments and the buying fever
as it may be seen on F., G. or Seventh
streets and the Avenue today with
the side streets drawing their full
share of business.
In many respects the situation to-
day presents all the aspect of the
peak of imitation days that preceded
the buyers strike.
There is this difference, however
the merchant is doing most of his
business on his own money-many of
them have large reserves with their
banks and few have anything like
large stocks
Money q Drug on Market.
Money is really a drug on the
market. Fortunate indeed is the
bank that has large holdings of
Liberties or other Governments The
New York market returns a ~ per
cent or less and they are talking
there of reducing interest rates on
surplus funds sent there for call
loans and possibly on bank interest
rates on savings.
The ruling rate on loans here is 6
per cent. If there was any chance
of increasing the volume of the loans
the rate might be lowered
The fact remains that dividend and
invested in Washington or elsewhere
The year to date shows a large in
crease in the volume of business, but
of late there seems to be a regular
deadlock in the Washington Railway
shares which have been the active
leaders during the year, a bid price
that will not bring out stock and
selling price that buyers will not
meet.
Washington Railway 6s. with s155
of common and preferred stock back
of them, on the market, are offered
at issue price and go begging on the
exchange, although there have been
large private sales over the country