The Washington times., 1926-12-17
SAVE MILLIONS
ON CHECKS
saa Hill Hill NRN
BY RICHARD HATTON

BY HAGhAk8D TIA AOF
twenty-five million dollars year
IL being cut off the nations bill
FOR bank checks. drafts and voucf
srs through eliminating by simpiifi
cation q large amount of previously
wasted effort and materials caused
BY multitude Of styles and sizes
This estimate was presented at
meeting Of the standing commit'
tee representing bankers, lith-
Ographers and other businesses in.
Il terested in the handling Of large
volumes OF checks held at the De
partment OF Commerce In washing
ton to review the results Of the
first eight months since check
Standardization was put INTO effett
by agreement in March 1925. Il Is
announced by Frank w. S'mn1nnds
OF the clearing house section. Amer.
lean Bankers Association one q
the leading factors In the move.
ment.
1t was reported that nationwide
adherence to the sizes and forms
OF bank checks. notes, drafts ard
similar instruments recommended by
the committee had been developed
during the year.
Alexander Dunbar, chairman Of
the committee. stated that expert
eace showed the specified forms
had proved popular among bank
customers.
r.. r.. Woodson, representing the
Railway Accounting Off sers Assoc
citation. said that the tail-oa6s OF
the country were unanimously be-
mind the movement. The Federal
Reserve and more than a hundred
clearing houses have offM ally en-.
d0rsed the standard forms.
At the regular meeting OF the
board Of directors of the Security
Savings and Commercial Bank the
regular quarterly dividend Of per
cent was declared, together with an
extra dividend Of ] per cent, both
payable December 81 to stockholders
OF record December %. The tiirec
tors also voted to transfer 900
from the undivided profit to the sur.
plus account. This action makes
the capitalization Of the bank
100000 and an equal amount in
surplus.
IN, appreciation OF the efforts Of
The employees that made this year
!. such successful one, bonus Of 5
per cent of their annual salary was
voted payable to each eznploye Of
the bank.
The administrative committee of
the Afi1erican Bankers Association
has desfgnated the Arlington Hotel,
Hot Springs. Ark. for the annual
spring meeting OF the execnttYe |
council Of the association, II was an, |
flouuced here today by Fred ~
meeting win be held the week OIL
May 4
stone q webster, Inc, and Blodget |
b Co. announce the formation Of q
new company under the name IF
Stone 81 Webster and Blodget. Inc!
The company will begin operations
on January /, 1927, with an author
ized capital Of $1O,O0O,000
The directors OF the Union Trust
Company have declared an extra
dividend of 1 u per cent in addition
TO the regular quarterly dividend OF
3 per cent, making the Total div
dend Tor the year s15 per cent.
Total new business of the Acacls
Mutual Life Association OF Wash
ington. D. c., for the month or No
vember, 1895, amounted to $4.2S2
/ 900, 1t was announced q head9quaf-
! tiers in the Homer Building.
Employment in manufacturing in
oustries was reduced IL per cent
IN November as compared wi =
October, and Layroll totals were re
duced 3.2 per cent. according TO
preliminary report of the bureau or
! labor statistics Of the Department
OF Labor.
Employment in November also
. was IL per cent less than in he
same month Of 1926, and payroll
totals were 0.S per cent less. 1
Usually November is a mouth
when seasonal reductions In soma
industries are offset by increased
activities in others. leaving the nSt |
change small, whether 1t be an IN
crease or a decrease. la 1925 No. |
yenber showed a slight improve
nlent over October, and in 1928 and
!. 1924 there were small decreases.
both in employment and employees
: earnings. The rather large falling
off In employees earnings this year
was due, In part at least. to a more
general observance of Armistlcf
Day.
r. q. Claughton, vice president Of
the Washington Stock Exchange. |
left Washington Thursday for Ber-
muda where he will spend the win
/. ter. He expects to return about tie
end OF April.
At a regular meeting Of the board
z OF directors of the Washington Me-
cEanics Saving Bank held yesterday
afternoon, the regular quarterly
dividend OF 4To was declared, pay
able January /, 1927, to stockhold-
ers of record December 90 1925. AT
the same time an extra dividend of
6os was declared, payable December
90, 1925 to stockholders of record
December is, 1925.
Z The institution now has a capital
! Of $4,000, surplus $4,000 and I'm.
divided profits Of about $25,000
! Total dividend paid during 1925, 22%.
. Ezra Gould, president of the in
sfitution, reported to the members
: az the board that the bank had
! inst completed its most successful
YEAR. the earnings being approx
noatefy 500 and the deposits re-
Gently touched the highest point In
the history Of the bank.
Due to the exceptionable record