The Washington times., 1925-06-04
D. c. BANKS GIVE
VARIETY Of
SERVICE
Depositors May Have Credit,
Advice or Any Sort of Cur
rent Financial Aid
By RICHARD HATTON.

Many people look upnn a bank
a. merely a safe place in which
20 deposit funds until they are re-
uuired for use. In this respect, the
individual who visions the bank as
merely a place Of safe deposit is
correct. The vision, or the informa-
ton, however, which leads to such
q conclusion regarding the services
of banks and trust companies is,
indeed, limited.
The functions of a banking insti-
tuition are 50 manifold that it Is
hard to catalogue them, especially
In the order of their importance.
Here are some of the services rem
dered to customers by the banks
and trust companies of Washington
which upset the theory that a bank
Is merely a safe place In which to
store cash:
All customers having checking
accounts are encouraged by bank
officials to consult them upon mat
ters OF financial investment and
savings Out-of-town checks are
collected and interest is paid upon
deposits commensurate with the
size Of the account. A complete
system OF accounting is maintained
accurate index of the personal or
business account, and statement
% mailed at the end Of each month
which is an absolute check on the
receipts and expenditures Of the
customer IL they have been made
by check.
Loans and Credit.
Credit is extended by the banks
A. q.
upon sound financial basis and
loans are made to individuals upon
proper collateral.
Many banks provide accurate
credit information to their GUS
toners which is of value In carry
ing on business relations. Banks
and trust companies also act az
executors and trustees under wills
and manage estates or funds set
aside for specific purpose. In
the matter of life insurance, trust
banks and trust companies pay to
beneffciaries certain stated amounts
determined by the maker Of the
trust at times specified by the
maker. Most of the District of
Columbia banks and trust COM
panies are equipped to serve as
stock transfer agents and reg
istrars for securities for corpora
tions.
As Advisors, Too.
: Any up-to-date Washington bank
or viii analyze bond and invest
ment holdings for a customer and
give conservative advice regarding
them and no banker viii offer to q
client securities that have not been
thoroughly investigated and ap-
proved. The wise investor will
consult reputable banker in ali
cases where there Is the slightest
doubt regarding an investment.
banks worldwide banking connec-
tons make the issuing Of foreign
credits, bills of exchange, travel
ers' checks and letters Of credit
matters Of great convenience to
customers and clients. The latest
foreign exchange quotations may,
also, be had from all local bankers.
Aid Thrift IncIinations.
The savings departments and the
thrift departments of the local
banks, with Christmas and vaca-
ton savings clubs and other In
ducements extend a helping hand
TO those who would save for
specific purpose or for the Sc
curity Of having a saving account.
These are few OF the many
services rendered by the local
banks. There are many others of
equal value, and they indicate that
from the child with mite for the
savings bank to the great corpora
ton dealing in millions there Is
ample and considerate association
TO be found in the financial insti-
tutions of Washington.