Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-02-24

branches. vi the ~
L.ooU were reported Joshua Evans, Jr.
in three States California, New York
and Michigan. More than $500 were
operated in four cities-San Francisco,
Los Angeles, New York and Detroit.
In California s. out Of 49e banks
OF all classes were operating 826 branch
offices June 30. Such branches conSti-
tuted nearly two-thirCls Of total banking
Offices in the State. New York reported
the second largest number of branches,
1l2 out of l,l46 national and State
banks were operating 607 branches. In
Michigan 81 banks were operating 422
branch Offices. In both New York and
Michigan the proportion Of branches in
total Offices was about one-third.
In the period since the passage of the
McFadden-Pepper act, February rs,
1927, several States have enacted legis-
lation expressly eliminating them from
the branch banking area, the board
says. OF the banks operating branches
February IS, 1927, 10 discontinued all
such Offices, suspended operations and
SO were merged with other banks to
June 80. In the same period 109 banks
initiated branch banking.
OId-Fashioned Banker Passing.
''There was a time" said Controller
OF the Currency John w. Pole recently,
when almost any person Of average In
telhgence could aspire to become a
banker without any special previous
training. It may be said that it was
the original theory Of the law that any
group of citizens had q right to form q
banking corporation.
.TI e.
marty a custodian and a lender Of
money. If he possessed a natural
shrewdneSs of mind and strong char
acter, he was likely to succeed. In the
local community he was the dominant
financial fgure. He had opportunities
to make money outside Of his banking
business. He became financially inter-
ested in the local street car company,
IN the light and power company, in the
gas works, in the ice plant and in other
such enterprises in which local capital
participated.
These opportunities are also fast
disappearing, not only because modern
banking requires all of the energy and
attention Of the banker, but also be-
cause these local forms of public util-
tiles are fast giving way before the
economy and efficiency of great central
organizations operating through local
branches and there is no local financing
Some banks OF this old type still re-
main in existence. but they must be
regarded now as Suryivals of q finan-
ciai era which has passed"
Dollar and Sense Notes.
The Institutes publication, Dollars
and Sense, pays special tribute in the
February issue to the memory Of B.
Ashby Leaveli. instructor in trust func-
tons in the local chapter. He was the
Merchants Bank. " Trust Co.'s trust
oficer.
The enrolment in washington Chap
ter up to early in February had reached
743, over 200 being new members. The
Security Savings g. Commercial leads
In percentage Of membership to total
number eligible-94 per cent. The
Washington Mechanics has IS per cent,
Washington Savings Bank, rs per cent
and Chevy Chase, so per cent Other
hanks high in the list are the Columbia
National, Lincoln, Seventh Street Saw
ings. Mount Vernon Savings and Citi-
zens National of Alexandra. The larg-
est number OF students are from
Riggs, SO.
Washington Chapter records now
show a membership of e5 women, 70
OF whom attend classes, the women's
committee claiming credit for q good
deal OF the increase.
The names of the students who sue
Cessfully completed the first half years
courses will be announced on March az.
Standard Check Move Grows.
The movement to standardize bank
checks and similar instruments, as fos-
tered by the clearing house section Of
the American Bankers Association, the
Department of Commerce and other In
terests, has gained the support of the
United States post Office through its
agreement to sell window envelopes
conformable to specifications requested
by the standing committee having the
Standardization plan in charge, it is
announced by r. w. Simmonds, deputy
manager of the association.
A recent Government survey shows
mat, in respect to volume Of printed
forms produced. almost an 80 per cent
adherence to the standards worked out
four years ago has already been estab-
lished among manufacturers, diStribu-
tors and users of bank checks, notes,
drafts and similar instruments and the
action of the Post Once Department is
expected TO give added impetus 10 the
movement. Mr.. Simmnnds says.
Auditors Get Tax Information.
The auditors section Of the District
Bankers Association thoroughly enjoyed
the informative address given at the
meeting at the University Club by
Charles w. Smith of Baltimore. Mr.
Smith is connected as a field agent with
the Baltimore tax office, He gave the
history Of the income tax law and much
information of special importance 10
auditors and other bankers on the eco
nomic features of the income tax.
It was announced at the meeting by
Chairman j. Damn Faber that the work
Of the improbable accounts committee
of the District Bankers Association had
been turned over to the new auditors
section. The council of administration
of the bankers association recently
abolished this standing committee, upor
q suggestion made by Chairman Johr
Poole, the bank president stating thai
its work now clearly fell within. tn,
province Of the auditors section Chair.
man Fsber will appoint the new com,
nnittee to carry on this work In a few
days
The five members of the old commit
tee on Improbable accounts and bust
ness, who are not members Of the new
auditors section, have been reassignes
TO other committees. They are B. Age
Bowles, Potomac Savings Bank, trans
ferred to the law and legislative com
rnittee; H. L. Sclby. Farmers & Mechan
les Branch Of Riggs National Bank, {.
the advertising committee; j. Err
Troth. Chevy Chase Savings Bank. Il
the committee on fraudulent securities
Miss Mary Jane Winfree, Continents
Trust Co., TO tina insurance committee
and A. M. MENUS of Riggs, to the taxa
ton committee.
The other members of the old com