Evening star., 1927-03-13
MEN AND MONEY
BY W. S. Rukeyser.
Copyright. 1872

| When jackson Reynolds, who had
previously been a teacher and prac-
titioner of law, first entered the FIRST
National Bank of New York as vice
president, he is. reported to have asked
George F. Baker. head of the bank,
what he was supposed to do in his
new role of banker. To which Mr.
Baker replied, Don't do anything un-
! reasonable The formula was APP
parently a good one, for in six years
Mr.. Reynolds was elevated to the
presidency of the bank.
Banking practice is far simpler than
banking theory. The universities de-
bate about fine-spun theoretical points
about which the practical banker Is
little concerned.
ITO Know Men" Main Job.
Bankers deal in credit, but their
main job is to know men. William -
Potter, president of the Guaranty
Trust Co. of New York, Is MINING
engineer by profession. j asked MN
whether banking depended on a grasp
of facts in the same sense that ehsl
neering does. He replied in the mega
tive, indicating that banking depends
on surmise as we'll as on facts. III
evitably the banker is calico upon "
finance the future projects or nuslhess t,sS
men, and he must decide Wnether tue
plans are sound and are likely 10 De
productive Of funds with which to
discharge loans. A banker Inefeloie
needs foresight.
The main technical responsibility OF
the banker is to keep the funas' III
trusted by depositors, safe Ills seC
ond duty is TO his stockholders. but
the economic service he renders IL
chiefly TO the customers of the bank
who are primarily business men VINO
borrow money. -
, Accordingly, as an important ny
product, the banker has been pusl- p
ness courserIr. Commercial executives
go to t1eiy bankers for advice ana
guidance.
BUSINESS Worries Numerous
They ..nsult financial physicians
when they face a troubled situation
and thev expect expertness Of advice.
The banker must in a sense carry Ilie
burden of the worries or tne "nolS
business community. IL ne gives oe,o
advice conss4 tently, he Will suner III
reputatjon and will injure the lnstltu-
ton which employs him. lie Is eA
nected to be a keen student OF the
business situation in general, with
wider perspective than the business
man. He can supplement his knoWi'
edge concerning current basic eco
nomic conditions by subscribing 10
good statistical service
The good banker is constructive. lie
is neither habitually pessimlSQc nor
optimistic He attempts to weigh pros
poets carefully and to come 10
definite decision. He can frequently
stimulate trade by bringing interests
together, using his bank as great
clearing house for the wants OF dlt
ferent classes of depositors. The
widespread contacts of a bank make
it a natural market place for ideas
and informations concerning the re-
quirements of business men,.
Customers leave funds on deposit
at a bank because they are confident
that the institution will return 1t to
them on demand. Accordingly, in or
der to cultivate confidence the BANK
must select as officers men in whom
the business community has faith.
Mere ability is not enough; capacity
must be supplemented by a gift for
impressing others with your in
tegrity.
Getting Customers Big Problem.
Where competition exists, the main
problem of the bank is to get custo-
mers. Frequently bank confers the
highest honors on employees who are
able to attract new business. New ac-
counts are won primarily through
personal contacts.
Ambitious bank employees can pre-
pare themselves for promotion in the
larger cities by enrolling in the
courses of the American Institute of
Banking, which is supported by the
banks.
Banking offers a promising career
to men and women of ability, but it is
far from bonanza for all who enter.
The great masses of bank employees
are paid comparatively low salaries.
The plums go to the individuals of
vision and Imagination, who can
create business, who inspire con-
fidence and who can make friends.