The Washington times., 1928-08-15
UNITE
To PREVENT
LEAKS
By RICHARD HATTON


Announcement yesterday by Pres
i6ent Robert u Fleming of the
b. g. Bankers Association Of the
full membership Of the standing
corlmittes 81 the association on
unprofitable accounts and business
completes one OF the most impor-
tant groups iii the bankers organi.
xation. President John Poole of the
Federal American National Bank
has been chairman of the commit
tee for some time and remains I'M
that position with Vice President
Wilmer u. Waller of the same In
sti1ution vice chairman. Other
members named to the committee
yesterday are: Arthur J Linn,
Federal American National Bank;
Avon M Nevius. Riggs National
Bank; r. Earle Hayeock, Riggs
National Bank; J Dana Faber,
American Security and Trust Conn
pany; J III Trota. Chevy Chase
Savings Bank; Harry Il Selby,
Farmers and Mechanics National
Eank: B. Agee Bowies. Potomac
Savings Bank, and Miss Mary Jane
Winfree, Continental Trust Conn
pany.
VIII Make Report
Chairman Poole Is known as one
81 the leading investigators Of the
country into the subject OF I'm.
profitable accounts and has made.
= thorough study OF this undesir-
able class Of bank business which
has resulted in the correction Of
many abuses both in Washington
ahc other localities. Many In
stances have been uncovered by
Poole ii his investigation where
hanks were actually doing business
II d loss without knowing it. The
continuation Of the important ftlTlc-
tions 81 this committee under We
gasdance OF Chairman Poole with
tho assistance 81 hts vice chair
man, Wilmer j. Waller, who is
also thoroughly grounded IN the
Sszbject. it Is expected will result
III report cf especial significance
at the next annual convention Of
the association
In Il interesting article on Chain
Banking ii the current issue Of the
American Bankers Association J0llr-
nal Henry Il Sargent says: Bank
ing ia this country - ii the midst
of 4 revolution Chain banking, In
one form or another. Is developing
so rapidly that competent authorities
predict that within year It will be-
come recognized as an American
method Of bank opera tion. Then 9
pFcmpt change from chain banking
Ia branch banlSin IS looked for be-
cause Of The greater economy Of tbs
latter method
This transition from the long es-
tabIished system Of independent
bankinr through the expedient Of
banking seems almost unacceptable,
Chain banking is going ahead SO
fast, and with further developments
III the making, that the country as
D whole may soon wake up to the
accepted fact. The definite trend in
that direction is obvious.
Leaves on Vacation
II. Golden Donaldson, president
Of the Commercial National Bank,
left yesterday for a vacation at Sar-.
ailac Inn. New York. The bank.
president will remain In the Adj
rondacks until after Labor Day.
w. w NARROW, cashier OF the
second National Bank. has returned
from his vacation spent at Noun
tain Lake Park.
President II. w Offutt Of the
Potomac Savings Bank, is another
local financier who is on vaea.
ton.
j.. Frank Campbell, vice president
Of the Anacostia Bank, has returned
from an extended trip to Denver
and the Yellowstone National Park.
- Leonard Townsend, OF the
Chevy Chase Savings Bank, has re-
turned to his desk from a two
weeks vacation in New York and
Atlantic City.
Arrive In Paris
Alexander Wolf, general counsel
OF the Bank OF Commerce and Saw
ings and trust officer Of the Sec
ond National. has arrived In Paris
on tour OF several weeks in Eu.
rope.
Fernando cuniberti. president of
the international Exchange Bank,
IS back at his office after spend.
ing several days in New York on
business.
Miss Mary J. Winfree, secretary
OF the Continental Trust Company,
was among those caught In the
storm. While motoring 10 Rich
mond Saturday she had to drive
through water so deep that Ii COW
cred the fioor Of The car.