Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-06-24

be needed to keep the fragrance of his
cigars, vet no artificial means are ra-
quired to keep fresh tho esteem I'm
which he is held. In addition To this
gift the employees Of the bank pro
scented him with II sterling silver cigar
case engraved with his initials and
also marked From the employees If
the Lincoln National Bank on the o.
caslOn If Your eichty-seventh BIRTH
day
Mr.. Sullivan expressed keen apr.
citation of the good wishes and gifts
He is in excellent health and is on
joying the rewards Of an unusuaIl-
active life
Fine Report on Banking Forms.
One Of the most complete reports
submitted at the Virginia Hot
Springs convention was that of the
committee on standardized banking
forms. The report was made after
correspondence with banks and
bankers associations throughout the
country and many personal confer
ences. 1t included study of vari-
Gus Department Of Commerce reports
on the same subject. recommends
lions of the clearing house section
of the American Bankers AsSocia-
| tion and those Of q other national
associations. including the Federal
| Reserve Bank.
| The committe recognizes the diff
Guilty of getting banks to discard old
| equipment. but also notes the waste
and expense caused by an endless
assortment of shapes. styles and
| face arrangements of checks. En-
| hibits covering some 80 pages are
| offered for the study Of ba mixers.
| The standard sizes for checks. drafts.
certificates of deposit. etc. are given
and full details regarding the various
| instruments are printed. If the
| Washington banks work toward these
standard forms only gradually, the
committee believes great benefits
will result. Member banks are now
in a position to show their printers
exactly what they want and what
data they want included in the
printed matter.
The chairman of this committee was
! +. j. McQuade and the other mem
| bers were j. u. Howard. c. +. Jacob
sen. l.. =. McLachlen, +. J. Stryker
and f. Z. Swan. Much progress has
already been made along this line, as
| the American Bankers Association
asked that many of the forms be put
into use last March and many banks,
| all over the country complied with
this request. Others are adopting the
| standard forms as fast as their old
| supplies are used up.
| Howard Moran. the new president
of the bankers association. stated to-
day that he had arranged for a copy
of the report To he forwarded to every
bank in the city. and will later urge
action looking to the adoption of many
! points brought out in the summary oil
| the commit ee'S work.
Kresge Stores Report Loss.
kresge Department Stores had ne
loss of $71.152 for the first quarter III
1926. in contrast to net profit OF SS9.-
S25 in the first quarter of 1925. s. ).
Kresge. president. stated the figures
did not reflect important transactions
in the second quarter i'll connection
with the sale of real estate holdings
! of the kresre Foundation. which inn
proved its financial standing material
| lv. This will enable the company I"
use its LIQUID assets in the merchan-
dising of its stores.
| The Interstate Commerce Commits
sion has authorized the Norfolk South
| ern Railroad to issue $14o,oOO or equip
ment trust certificates.
New Bond Offering Today.
Public offering of an issue OF
| S25 600, 900 of 6l2 per cent external
sinking fund gold bonds of 1926 of
the United States of Brazil is being
made today by syndicate headed by
| Dillon. Read * 60. This Offering
marks the second step in the gov
ernments financial program. The
first step was taken last May. when
an issue of S35 600 900 Brazilian gov
eminent bonds was sold by Dillon,
| Read & Co. and members OF the Oh
fering syndicate.
The bonds now being offered are
priced at 9012 and interest to yield
more than IA per cent. They are
dated April /. 1926, and due October l.
| 1857. The bonds are a direct obllga-
| tion of the United States of Brazil.
Fewer Banks Now Than i'm 1920.
1t would seem that of late years
some tendency toward reduction IN
| the number of banks has developed.
| though il has probably been due to
other causes than the limited intro
duction of branch banking. says the
Bankers Magazine. In the first place,
there has been a marked recession OF
the banking enthusiasm. winch
| reached it's eliminating point early III
| 1920 Furthermore, in recent years
bank failures have been sufficiently
numerous to have an effect in bring
l ing about a reduction Of the aggregate
of existing banks.
The controllers report for 1926
gives the total Of reportips; banks Of
all classes ether than Federal ReServa
Banks as 30.139 ia 1920. Against 25,s%l
in 1925.