Evening star., 1925-10-20
.BANKERSD|SCUSS
TIMELY PROBLEMS
Members Are Acquainted
With Small Account Situa-
ton and Combative Means.
BY CH.iS. T.. SHAEFFER.

BY CHAS. =. SHAEFFER.
e The first business meeting of the e.
tire local bankers association since
it's reorganization last June WAS held
at headqua rters, in the Masonic TEN
pie, last night.
While the session was general !u
character. 1t quickly resolved itself
into a discussion of ways and means
TO combat the CancerouS growth OF
Improbable banking items, and a ma
jor part Of the lengthy program was
devoted to this subject.
The lead in this discussion was
taken by John Poole, president Of the
Federal American National Bank, az
chairman of tho Improbable business
committee of the banking body, who
offered the results of an exhaustive
study Of the local situation as con-
piled by his committee. The high light
of Mr.. Poole'S staggering disclosures
was the fact that composite stats
tics of % local institutions which co
operated with him in his compilations
showed that 1855 accounts out of
gross total of 74,840 had al average
balance of but S2955.
New Move Considered.
Mr.. Poole offered the furthe! in
formation that certain other cities i'll
the country had followed the policy
of eXacting a fee of so cents per item
on checks returned on account of in
sufficient funds, and that the plan had
worked out in a satisfactory manner
After discussion, this plan was re
ferred to a committee for analysis.
and recommendation later to the as
sociation.
Francis G.. Addison. president of the
association, went on record several
| months ago as favoring a service
! charge. but stated emphaticalty Al
| that time that he would never urge
concerted action on the matter. This
| doctrine was upheld last night. the
general tenor IF the meeting being
that it was not the desire Of the
| association to cause the Withdrawal
! of any account, however small, bu'
rather that depoSitorS should be edu.
| Gated TO the banks point of view. anu
| appraised of the expense accruinS to
! the institution in handling an ac-
count that returns no profits, hut
actually incurs q monetary Joss. Spc
| cial emphas sis was laid ON the small
| check evil which literally places the
| bank in tho position of clearing hou-e
! for petty cash tranSa Ctlons. and this
! item suggested as one solely in need
Of eluCidation.
! Years Plans Outlined
4! Preceding the Hlain discussion.
President Addison reviewed the pres
! ent administration record and out
! lined the years contemplated pro
gram. He laid considerable stress on
! the Importance of member banks CO
| operating with the office of assistant
secretary, where much information
! essential to good banking Is stored
! .nTg-,-
| that many losses could hS forestalled
| by constant reference TO this file. He
| then introduced Robert y. Harper
/ who presented resolutions relevant 10
The last annual convention. which
| were adopted.
Trading on Local Board.
! Stock of the Washington Gas LighJ
| Co. eased off a full point in today :
| trading as against yesterdays un-
| precedented level of 10. The opening
was unchanged on transactions involv
| ing 80 shares, but declined fractionally
| on successive sales of 2S5 shares. The
! selling. according to authoritative ad-
! vice. was for the purpose Of profit
! taking.
: The remainder Of the list was quiet.
/ Small sales of Railway preferred were
/ made at Sill but Capital Ira ctioN
shares nf Riggs Bank sold 81 800. and
a like amount OF Continental Trust
Co. brought 81.
Will Expand Reports
Trans-Lux Daylight Picture Scrcor
Corporation. maker of the movie
| ticker" installed on the floor of the
New York Stock Exchange, the curl
market and in the Chicago, Boston
and Philadelphia exchanges. plans l.
give grain and commodity quotations
as we'll as stocks.
The new service. with cooperation
of the Western Union Telegraph 90.
will include Baltimore. Washington
! Pittsburgh, buffalo. Kansas City and
| st. Louis. The new lines from Ch5
cago TO San Francisco will be COM
pleted shortly, with distributing sta
tions at San Francisco, Los Angeles
and Dallas. The stock quotation trunk
line from New York TO New Orleans
soon will reach Charlotte and Atlanta
Big Stock Issue Approved.
The Interstate Commerce Commits,
sion today authorized the Illinois
Central Railroad to issue S14,21S.230
in new preferred stock and a like
amount of common, the proceeds of
the preferred stock sale to be used III
financing the carriers terminal eleC'
trification and extensions in Chicago
The preferred stock, under the cor
poration's charter, is convertible into
common stock at the desire of the
owner. In CONSEQUENCE, the railroad
is obliged to obtain authorization 70
maintain twice as much stock as II
actually puts out.
Another Issue Granted.
Permission was granted the ST
IouiS-San Francisco carrier to issue
81. 15o, 900 in 81. per cent gold bonds
for the purpose OF purchasing The
stock Of the ,Joneshoro Lack City and
East Railroad The Frisco was per
mitted by n previous order of the
commission TO carry through the pur
chase of the Jonesboro road and o
the Arkansas Railway Equipmen'
Co. a subsidiary Of the Jonesborc
line.
I