The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1926-08-06
D. c. BANK PLAN
IS STUDIED
By RICHARD HATTON

That the constructive investiga-
ton which has been carried on by
the District of Columbia Bankers
Association through its committee
on improbable accounts, of which
John Poole, of the Federal Amera-
can National Bank, is chairman,
has attracted nationwide attention
In banking circles is evidenced by
the great interest manifested IN
the report of Mr.. Pooie's commit
tee which was submitted to the as
Bociation at it's convention at Hot
Springs.
Requests for copies Of this report,
together with the comprehensive
chart covering the subject, which
was worked out by President Poole,
have come from widely separated
sections of the country and attest
the Importance of the subject which
has possibly been completely an
alyzed and digested for the first
time through the efforts OF locai
bank experts.
After months of analytical study
backed by experience and keen IN
terest. President Poole evolved
comprehensive and illustrative chart
covering the problem of the I'M
profitable account as presented to
every banking institution.
This chart, together with the ar
g1lments and conclusions set forth
by its author was source Of en-.
1ightenment to many technical bank
experts and, while 1t might not be
entirely understood by the layman,
1T contained material from which a
clear picture OF the Improbable
- vNvnaaan+nA IN the
public, to the end that those who
make use of banking facilities could
be made to see the necessity I'M
cCunts at a loss.
The nresent wide interest in the
activities along the line Of studying
the Improbable account, which Is
being taken in the work of the local
association. is evidence OF the
leadership in constructive banking
methods maintained by the District
Of Columbia Bankers Association.
An exceptionally interesting and
Informative article on the Law
and Procedure Governing Spend
thrift Trusts is contributed to the
current issue Of Trust Companies
by Aubrey o. Dooley, OF the trust
department of the Commercial Ma
tional Bank. Mr.. Dooley is, also,
q member OF the bar of Virginia
and is thoroughly versed in trust
functions.
In regard to the Spendthrift
Trust, Mr.. Dooley says:
"a trust provision in a viii has
come to be so commonplace that we
- Ea0Fa diGo nnnf1f.
ments being experienced by bene-
ficiaries when an omission Of such
provision results in a failure to
throw around the estate proper
safeguards for the fullest enjoy
nlent and benefit that may be de-
rived from its use.
Men OF diversified interests
whose property accommodations vary
widely in their character, see in a
trust the positive assurance of pro-
lection and conservation and ain
avenue through which their chill
dren can achieve their cherished
ambitions.
aside from those safeguards
guaranteed by affirmative rules OF
law, supplemented by the unques-
tionable integrity and ability of
corporate fiduciaries, the testator
often entertains a desire to aug
n1ent these by leaving all or a
portion of his estate in trust for
the benefit of his children. and
place such property beyond the
reach Of creditors, an assignee in
bankruptcy and also prevent its
being anticipated or assigned by the
beheficiaries. This brings US to a
consideration OF what the law
terms a 'spendthrift trust"
"a spendthrift trust is a term
commonly used to designate a trust