The Washington times., 1926-06-18
Prize Essays Read at
District Bankers
Contention
American institute Of Bank
ing pay Is Observed
al Session
By RICHARD HATTON


vas American Institute Of Bank
ing Day ct the annual convention
81 the District Of Columbia Bank
ors Association now in session here
Il. Jesse CLANCY, past president
0f the washington Chapter OF the
Al b. led off the morning ses.
sion with d resume Of the act1yities
81 the chapter, covering the many
educational features OF the work as
we'll ! as the social events during
the past year.
Stress was laid upon the, ad.
vantages OF the courses offered py
the institute for older as well as
younger bankers and the excep.
fionally profitable year just CON
ciuded from an educational stand
point.
The affairs OF the Washington
Chapter are in excellent condition
and It was predicted that the com
fng year would be the pest 10 tne
history Of the organiza ton.
Great interest was manifest by
the assembled bankers In the re-
bort of past President CLANCY as
iucai banks, without exception, are
constant in their support Of the
washington a. r. B. chapter.
Following the report of Mr..
CLANCY the Washington bankers
were. addressed BY George y. Seay,
governor OF the Federal Reserve
Bank ct Richmond.
The three prize essay winners,
two or whom rpfesent the Amer
lean Security and Trust Company,
were agreeted with prolonged APP
plause when they read their papers
before the Bankers Association.
The three winners were 3. 4.
Savage, Frank M. Perley and Rafael
del Carmen CaIvo. Mr.. Calvo -
with the Liberty National Bank.
The subject OF the essay contest
was suggestions for Improving
Systems and Practices in Any De-
pertinent 81 Bank or Trust Com
pany.
THE modern banking institution
extends the scope of its work far
beyond orthodox banking matters
such as accepting money on de-
posit, making loans, and discount
ing notes., declared Mr.. Savage.
winner Of the first prize.
Today, In order to become q
large institution, bank should
have numerous departments to sup
ply the needs Of its customers.
Some Of these departments may
be listed as follows: Real estate.
trust, securities, safekeeplng, new.
business and q foreign exchange.
department.
Assistants employed ID these de-
partmeLfs should be wen qualified
either through college education,
q course ut the American Institute
Of Banking or through along bank
ing experience In order to give the
best and highest service 70 Its
customers.
Likening banks to rye depart
nnent stores, Mr.. savage continued:
1.-THE bank today should no longer
employ the old system Of keeping
q record OF property which has
come to the company through wills
deeds. orders Of court and agencies
In a ledger"
He then outlined In detail the adj
: Vantages OF the card system over
ths-s of the ledger.
In making suggestions regarding
the securing OF new depositors Mr..
Savage outlined the many methods
Of advertising employed by financial
institutions.
He. also, stressed the Importance
OF all persons employed in banks
being Of the highest type Of char
acter'' and said:
A customer entering q bank ex-
poets to find the furniture and
equipment Of an up-to-date character
and not old and obsolete" Stress.
ing the necessity fDr bank giving
careful attention to the ability
and capabi1ity of each individual
employe Mr.. Savage concluded:
Let US each constantly strive to
Improve our bank so that ali our
systems and practices will afford
greater facilities for the accomno-
dation of our customers. -
Frank NJ. Perley, winner OF the
second prize, declared in his essay
that: Efficiency and thrift are the
keynotes OF present-day business.
To succeed business must EMPLOY
every method whereby 1t can econo.
mize and increase its earning
power
Together with other business in.
etitutions." he declared, ''the banks
Of the country have found it neceg.
sary to conform to this policy"
Stresslng the importance Of the
management Of personnel, Mr.. Per.
ley said: If the employees are con.
tented and absolutely satisfied them.
selves that their bank should be the
best In the city, they will do every.
thing Within their power to make
1t so.''
The winner Of the third prize, Mr..
Colve. stressed the necessity Of Civ.
ing great attention to the collection
department Of bank and went into
some detail regarding the system
by whiah this should be done.
He outlined a plan by which a
tremendous amount OF time could be
saved m handling collections with