Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-06-21
BANKERSA ADDRESS
! D. c. ASSOCIATION
Rome C. Stephenson Talks on
/ FoiIing Crooks and John
Poole Discusses Credits.
BIZ EDWARD C. STONE.


Bankers Association, contributed 9
memorable address at the second day:
session Of the District of Columbis
Bankers Association in session at the
Montauk Manor Hotel here, the first
vice president, Wilmer j. Waller, pre-
siding.
Much of today's session was devoted
TO bank management and for this rea-
SON Mr. Stephenson decided TO discuss
the best methods of .foiling bank crooks
The number of crooks who are now
operating In this country, making q
speciality of robbing and defraudins
banks, is appalling, he asserted. They
ale specialists in their particular class
of crime, and their detection places Q
tremendous responsibility on bank teliers
and officers
Mr.. Stephenson stated that there are
only four primary methods by which
criminals endeavor to defraud banks
over the counter. First, by obtaining
money on uncollected items; second, by
forgery: third, by personal threat and
bulldozing methods. and, fourth. by
sneak thievery. But so many other
schemes have been devised for getting
money unlawfully from banks that
every transaction with comparative
strangers should be very closely scru6-
nized, the speaker declared.
Makes Suggestions TO Bankers.
The A. B. A. oficial suggested that
every bank make q rule that no items
be casked for strangers until collected
and that officers and tellers be held
liable for loss in case Of violation OF the
rule. Mr.. Stephenson, who Is president
Of the st. Joseph County Savings Bank,
South Bend, Ind, made . host Of other
suggestions of q private nature to the
financiers gathered here. He has spent
many years in gathering data on bank
frauds. and many of his findings proved
a revelation to his hearers. And, incl
dentally. 1t was the f1rSt time that an
official of the American Bankers AsSo-
citation has made q formal address be-
fore the District of Columbia Assocta-
ton.
Two other fine addresses along the
line of better bank management were
made today, one on Finance and Dis
count Committee" by Robert v. Flem-
ing. president Of the Riggs National
Bank, and the other on 1.-THE Credit
Department" by John Poole, president
Of the Federal-Ameriean National Bank.
Both addresses, which dealt more or
less
ing drew much favorable comment.
Mr.. Poole's address on 1.-THE Credit
Department" was accompanied by the
distribution of booklet embodying the
most exhaustive examples OF the up-to-
date credit methods, which he presented
Following out his suggestions for the OBJ
taininS end filing Of special information
would give any bank almost perfect
credit service. His address showed
great care in preparation.
Review Washington Chapter.
In addition to the problems Of bank
management, which Craig B. Hazel
wood, head OF the American Bankers
Association, considers the most vital
now before the banking fraternity, i'm
portant time was given over today to
the work of washington Chapter;
American Institute of Banking, during
the chapters activities was presented
by James A. Soper. vice president OF
the Lincoln National Bank, who has
Just retired as president OF Washington
Chapter.
Mr.. Soper reported that the attend
ance had been very large during the
past year, more banking courses than
ever had been offered and Washing
tons junior bankers had displayed deep
interest in the work. Stressing the
number of standard certificates awarded,
he also called attention TO the promi-
nent part the local chapter played in
the recent national convention at Tulsa,
Okla.
Those capturing the first three places
IN the institutes annual essay contest
were present and read their papers be-
fore the convention. This contest Is
sponsored by the bankers association,
the winner always being rewarded with
a trip to the convention. The winners
reading their essays today were Miss
Catherine M. Krieg, Riggs National,
who carried of first honors; Miss Esther
r. Lau, also of Riggs. who took second
honors, and John r. Keener, likewise Of
Riggs, who came in third.
what Price Protection"
This years subject was Methods by
Which Bank May Best Protect Itself
Against Fraud" which was shortened by
the winner, Miss Krieg, to What Price
Protection" She offered the follow
ing suggestions as to methods which
may be devised and the manner in
which these safeguards can be made
effective:
First, a campaign of eternal vigilance
by the personnel of the bank.
Second, closer cooperation between
national, State and local protective or
CARNATIONS.
Third, educating the customer in
fraud prevention.
Miss Grieg developed her suggestions
in q most comprehensive manner, one
showing an unusual knowledge of bank
ing. She cited the importance OF the
work of the new accounts department
information department, bookkeeping
department and of the paying and re-
ceiving tellers The savings tellers also
have great protective service to
perform. Payments by telegraph. cable,
letters Of credit and letters of in
PRODUCTION also require the greatest care
The credit and trust departments also
have their problems, while the safe de-
post personnel has always to be on the
alert.
Bankers must provide, said Miss
Krieg in conclusion, adequate insurance
protection, but the wide-awake bankers
of today do not advocate nor desire to
substitute this form Of protection fol
prevention. Let the watchwords Of
every banker be Eternal Vigilance
and Prevention Is Better Than De-
lection"
The essays read by Miss Lau and Mr.
Keener were also Splendidly prepared
filled with excellent ideas and clearly
presented. The discussion which fol.
lowed was led by President Fleming are
was highly enlightentng.
Committee Appointed.
President Fleming appointed nomi'
mating committee, to report Saturday
consisting of William T. Galliher, Rob
ert N Harper, Charles E. Howe, Victor
B. Driber and Joseph T. Exnicios.
The committee on resolutions is mad,
UP Of Henry H. Mckee, John Poole
r. Golden Donaldson, Julius !. Peysel
and Frederic e. harrington.
The convention sent a telegram o.
greetings to Edward L. Hnlyer, vic'
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