Evening star., 1925-02-06
NEW DEPOSIT SLIP |
PROTECT BANK
National Metropolitan Adopts
F Safety Statement-0ther
Financial Notes.
By CHAs. p. sHAEFFER,

A new deposit slip, which should
effectually fofl the best efforts oH
those who seek to defraud banks ha
been put in use at the National Met
ropolitan Bank. The slip is the rec
ommendation OF the washingtoH
Clearing House Association and
merely suggestion leading to stand
arolzeo forms for the protection oH
banks.
The form is designed mainly n
Illustrate attempts of forgers who deH
post worthless checks and then
check against the item before thS
bank actually makes collection. Ever{
year there are many local instanceS
where banks have had to resort II
court action in protecting their in z
terest in similar cases. In a verE
few cases the banks have been re
turned losers in the verdict when
was proved there was no evidence n
a fraud.
The new slip. however, leaves n
ioopnole. The bank using it has
provisional agreement printed at tn
top OF the form which covers ever
situation that could possibly aris.A
the next being an agreement IN
tween the bank and the deposito
The text follows:
Text of Printed Agreement.
In making deposits the deposito
agrees with the National Metropoli
tan Bank, Washington, D. C. tina
credit allowed for items on this os
any other bank or party is only pro,
Vlslonal and until the proceeds there
o. IN money, are actually received
by this bank or items found good az
the close of business of the day on
which they are deposited; such items
may De charged back to the deposi-
tor account regardless of whether
or not the item itself can be returned
lnat SAID bank may decline payment
ol any check drawn on such deposits
until the items of this deposit
though credited, are actually paid ir
money; that any failure to enforce
these rights by the bank shall not be
construed a waiver thereof; that
items received for deposit or collec-
tlon are so received at depositor's
rlsk' may be transmitted in the nslal
manner for collection, either to the
pank or person on which they are
drawn, or to such bank or persons as
salo bank shall deem reliable: that
all such direct or indirect collecting
agencies shall be deemed agents OF
ShOSAICip lIdL tne nPEllRenCa
act1ons, omissions, or failure of such
collecting agents, or for loss of item
IN transit, or any cause, no liability
shall attach to the said bank; that
SAID bank or any collecting agent may
receive payment of all or any such
items In cash, by check or draft and
snail not nor shall any collecting
agent be liable for the dishonor Of
such checks or drafts or losses there
on or for the negligence. default ot
failure of another; that items may b.
collected through the Federal Reservo
Banks in accordance with their rules
The National Metropolitan agree
the provisions are quite lengthy. bu.
necessary to cover adequately al
phases of possible controversy.
Trading on Local Board.
Trading on the Washington Stoch
Exchange was relatively even a
today's session, with issues of the
Washinston Railway and Electric Co
prominent. The common stock of this
utility approximated its high leve'
OF the year, Is shares selling at IOIk
while the preferred brought 81 OF
sales of SO shares. The per cent
bonds of the company retained their
high level, $1,000 selling at 70.
Mergenthaler Linotype advanced
tracuonally to III on sales of q
shares, and Lanston brought II anc
81 a. Traction was unchanged at 9:
| as was National Mortgage and Invest.
ment preferred at 9as. Ten share.
! OF Chaplin Sacks 8 per cent preferred
sold on the unlisted board at 90.
President Ham Entertafns,
w. F. Ham, president of the Wash
ington Railway and Electric Co. en-
tertained the sc executive officers O
the company at a dinner at the Chey,
Chase Club last night.
Will Attend Exchange Banquet.
The 18th annual meeting and Dime
| of the Association of Stock Exchang
| firms will be held at the Roosevelt
Hotel, New York City, this evening
More than thousand bankers
| brokers and trust officers from al
sections of the country are expecte
to attend. Local guests include
| Eugene E. Thompson and Harry Y
HAYNES