Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-07-08
D. c. AREA CLEARING
HOUSE IS PLANNED
Many Banks in Suburban Dis
trict Invited to Join Cap
itaI Movement.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Harry V. Haines. chairman Of the
Washington Clearing House Associa-
ton. announces that plan is being
considered for including in an aux
iliary clearing house organization the
banks located in the vicinity of the
National Capital. These banks now
clear through Baltimore and Rich
mond. but it is believed that in many
ways it would be to their advantage
to clear through the local clearing
house. Several out-of-town bankers
were in conference yesterday with
the members of the Washington clear
ing house committee and a special
committee was named to make a
thorough investigation into the sub
urban situation. The banks invited
to join in the metropolitan area move
ment include:
Bank of Bethesda, Bethesda; Citi-
Maryland Trust Co., Seat Pleasant;
First National and Prince Georges
Banks, Hyattsville; Prince Georges
Branch and First National Bank,
Mount Rainier; Kensington Bank, Citi-
zens' National, Laurel; PoOlesville Ma
tional Bank, First National, Gathers
burg; Montgomery County National
and the Farmers Bank & Trust Co.,
Rockville; First National Bank, Sandy
Spring; Silver Spring National Bank,
Marlboro Bank, the First National
Bank Southern Maryland and the
Eastern Shore Trust Co. Branch, all
Of Upper Marlboro. The Virginia
banks are Peoples State Bank,
n, 10, N 10
endon; National Bank of Fairfax,
Falls Church Bank, Arlington Trust
Co., Rosslyn; Vienna National Bank,
First National. Citizens National,
Alexandria National and Burke & Her.
bert. al, Of Alexandria.
Bankers on Inquiry Committee.
The outlying bankers appointed on
the special committee to make the
proposed inquiry include S. Walter
Bogley, cashier of the Bank Of Bethes-
da; w. P. Gibson, cashier of the Ia
koma Park Bank, and T. M. Jones,
cashier Prince Georges Bank, Hyatts-
vile.
In addition to Chairman Haynes, the
members Of the local clearing house
committee, Victor E. Deyber, John
Poole, George w. White and Wilmer
J. Waller.
The economy in time in handling
checks is one of the leading advan-
tages to be obtained by the metropoli-
tan area idea. Mr.. Haynes points to
the fact that in the matter of handling
checks the Bank of Bethesda is nearly
as far away as Nashville, Tenn. Yet
Bethesda is but a short distance be-
yond the District line. The same is
true of many other banks adjacent to
the city.
Mr.. Haynes also believes that the
plan should be put into operation be-
cause of the very close business inter.
course between Washington and the
surrounding territory.
The first thing the committee will
ascertain is the number of items that
would come to the clearing house and
the amounts involved in dollars.
Separate Accounts Required.
OF course, all Washington clearings
would be kept as distinct and separate
as they are at present. The new serv-
ice would naturally be carried on by
mail. And right here is where an i'm
mense amount of time would be saved
in the run of a year-the difference
between getting letters to Washing
ton and return as compared with
round.trip mail to Baltimore and Rich
mond.
The special investigation is to be
carried on during the first two weeks
in August. The amount of business
that could be expected to be cleared
through the local auxiliary organiZa-
ton will be tabulated by the commit
tee representing the outlying banks.
The Washington banks will also be
asked to obtain as many facts as pos
sible from this end.
While some such move has been
suggested several times in the past,
yet the outside bankers have never
shown nearly as much interest in the
idea as they are now revealing:
In fact, the suburban bankers
brought the matter up this time and
to assist them in formulating some
constructive and practical arrange.
ment which would prove of mutual
benefit to all parties concerned.
White Elected A. A. A. Treasurer.
George w. White, president Of the
National Metropolitan Bank. has been
elected national treasurer OF the
American Automobile Association.
The election took place recently in
Philadelphia. Mr.. White has been
member of the associations District |
of Columbia advisory board for long
time and is thoroughly familiar with
A. A. A. affairs.
The District edition of the Amer
lean Motorist considers it a high |
honor to have a Washington man |
chosen to Office in the national body, |
at the same time making reference |
to Mr.. Whites long and brilliant |
banking career.
Houston Made Bank Director.
David F.. Houston mas been elected |
a director of the International Ac-
ceptance Bank, in New York, succeed
ing the late John T. Pratt. Mr..
Houston, who was Secretary of Agri-
culture and later Secretary of the
Treasury during the Wilson admins.
tration, was recently elected president
of the Mutual Life Insurance Co. of
New York, to succeed Charles A. Pea.
body, resigned.
He is at present vice president Of
the American Telephone & Telegraph
Co., and president of the Bell Tele-
phone Securities Corporation.
Hotel Offering Made Today.
Robert Garrett & Sons and asso.
ri