Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-09-30


incoming administration. which was
directed to investigate the need and
advantages of such a section and make
recommendations.
Mr.. Fleming and his associates have
looked into the matter closely and be-
lieve there is a strong demand for its
organization. The McFadden act gave
national banks the right to carry on
trust departments. The handling of
estates is rapidly becoming more and
more important. With the trust COM
panies and national banks handling a
great many very large estates the num-
Der of member banks in the association
interested in this department of bank
ing has increased.
New Problems Appearing Constantly.
1t is the opinion of the adminiStra-
ton that a special section can be of
great help to all the bankers. The
handling of estates is such a vital
problem that it is no longer side
line with the banks. The new section
will naturally apply expert knowledge
to any puzzling questions that may
arise and prevent their findings to the
membership of the association.
The second section. covering safe de-
posts. may be patterned along the lines
of similar organizations in New York
estates the safe deposit departments
work in close cooperation with the
trust departments in the banks. InveS-
tigation has convinced local bankers
that such a section can be made OF
great value to the association.
The auditors and controllers section
also has its own field. There is an
organization of this kind already in
existence here which is now affiliated
with the American Bankers ASSocia-
ton, j. Damn Faber of the American
Security and Trust Co., being president
of it. With the permission of the
American Bankers Association this or
ganization will no doubt become con-
nected with the District of Columbia
Bankers Association.
Mr. Fleming would keep each of these
organizations separate rather than add
them to the standing committees OF
the association. The head of each
section will of course be an expert in
his work. will be invited to the bankers
luncheons and be ready to discuss
many minor questions eXtemporaneously
and taken others before his own section
for review.
Present Bylaws Must Be Amended.
While President Fleming and all the
council members believe the new Sec
tions will prove of great benefit to the
association, the bylaws must be
changed to permit the adoption of the
plan. :.
Letters have just been sent to all
member banks outlining the proposals
and asking for approval. Very general
acceptance Of the idea is expected. The
fact that the officers and the other
council members are so enthusiastic
means much for the early adoption OF
the new recommendations.
The next meeting of the whole asso-
citation takes place on the evening OF
October Is. 1t was voted to have 1t
at night in order to give more time for
discussion The same plan last year
was q great success.
September Clcarings Higher.
The end of September finds the
months bank clearings in Washington
ahead of August and also above the
figures for September, 1927, yesterdays
clearing house report indicating steady
expansion in business in the National
Capital.
Clearings for September amounted
to Sl131l7,4l2.52 in comparison with
SlO4.579.350.73 in September a year
ago and $107,049, 844T8 in August of
this year. In September two years ago
clearings were Sos, sos, 1927.
Local clearings for the first nine
months of 1928 are also ahead of the
corresponding period in 1927. This
years bank clearings to date have
amounted to 45.377 ,25112. In the
same period last year they were S103l,-
2O0,26601 This is a gain in 1923 of
S14.176995.11.
Comparative clearings for tine first
nine months of 1928 and the CORE
spending period year ago are as
follows.