The Washington times., 1928-03-15
BANK CLEARING
MEET CALLED

BY RICHARD HATrON

In view OF the remarkable and
sustained success OF the Washing
ton Clearing House Association I'M
uer the able direction OF Chairman
Harry Y. Haynes and his associates
IN the local institution, it il of
interest to Washington bankers to
note that, with the purpose of con-
sldering means for further strength.
ening the banking structure of the
country by Increased cooperation
among bankers. especially in coun-
Try districts, the clearinghouse sec
ton. American Bankers Associa-
ton, viii sponsor special con-
ference at Kansas City, Mo-. March
The problem Of mapping out and
recommending definite plans for the
q ganixatiOn and operation Of re-
gional clearinghouse associations Of
from SO to rs banks, which will
bring to country banks the I'D.
vantagss long enjoyed by city clear
ing house association members, VIII
he q major topic Of discussion, since
Inc clearing house system OF ex-
aminations has been in operation
n the larger cities more than 20
Years and has proved the best safe
suard Tor keeping banks In prime
condition, bankers are convinced
that this plan may be adapted and
made equally effective for regional
clearing house associations.
Definite Plans
At the Kansas City conference it
Il hoped definite plans and recon-
mendations will be worked out Tor
the guidance OF bankers desiring to
avail themselves Of the advantages
and protection Of regional clearing
house associations, for it has long
been recognized that the hundreds
OF clearing house associations now
IN operation in the principal towns
and cities OF the country constitute
the chief line of defense against
bad banking practices and nave
proven themselves to be the enieL
factor In bringing about reforms IN
banking regulations, improvement
IN banking methods and the promo
ton or sound banking practices.
The American Telephone ana
Telegraph Company recently issued
It's three millionth stock cerilll-
cate. The company puts out an
average Of about 500 new stock
each business day, With
FREQUENT occasions when q total Of
1000 per day is reached. At stock
issue times, Of course, the volume
Ii much greater.
THE firsf issue Of American Tele- /
phone stock certificates to the pub
ifc was made in 1900 In exchange
for stock Of the American BeIi
TeIephone Company at. the head |
quarters OF the company which
were then located In Boston. For
many years there were only two
kinds of certificates used, namely
4 l0O.share denominational certifi- |
cate and blank certificate upon |
which the number OF shares was
entered by hand or typewriter. In
1922. b number Of other denom1na.
tional certif icates were adopted, the
denominations chosen being for one
rs 10 shares Inclusive and for 25 |
ana SO shares. These. together with /
the 1OO-share certificate. now sup
ply almost 30 per cent Of the nor
NAL requirements. and since the
date they were adopted, almost
j 500 900, or practically one-haf the
8DLaf ECEI1LlCdISS % LEX ASShUAt heSNS |
been denominationaI ones.
Newly Elected
The following have been elected |
directors Of the Washington VIM
Iaett Company, which will soon
move into its new quarters at Ninth |
street and New York Avenue: Fran
els III. Weller, Samuel s. Clark,
Frederick M. PeIzman and James
"a. Councillor.
President william d. Hoover, Of
che National Savings and Trust |
company, has returned from a two
weeks vacation spent at Southern
Pines. N. G.
President Joseph Schiavone, Of
the international Exchange Bank,
has announced that. Cashier f. j.
Kaufman, jr., has been made q
director Of the bank.
w. Reginald Lewis, cashier of the
Northeast Savings Bank, will be
one Of the vice presidents at the |
rerioYlal savings conference to be |
heid at Richmond on April and 6. |