Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-09-14

WORK.
1t is rather a hard matter to believe,
and yet 1t Is fact that the bankers
of this city seem powerless to check the
evil, admitting that 10000 of this char
acter passed through the clearing house
and were dishonored during the year
1929. This is substantiated by the
record.
Government clerks are frequently
guilty of putting out checks in adj
vance of the deposit they intend to
make, but they are by no means the
only offenders. 1t is a general habit.
Back to the Cashier. -
All returned checks are first passed
to the cashier of the bank on which
drawn for inspection. Many of them
are given the cashiers o. K, and they
are honored with a notification to the
maker to make deposit, while others
are turned down for good, being sent
back to the indorsers responsible for
them and charged to his account
while the clearing house must be reim-
bursed
Make Them Pay for Service.
Associated effort has been instru-
mental in educating the people of
Washington in the point where they
believe 1t Is right for a bank to make
a profit on Its service. Depositors have
been taught that a certain balance
must be carried on deposits with ones
bank to pay for the services rendered
in caring for the work incidental 10
handling OF the account and payment
of checks.
Last year one or two bankers made
charges on returned checks, dishon-
ored for any reason, the double work
incident to the caring for these checks
seeming to warrant the impost.
In the instance referred to the bank
credited a fairly large bunch of cash
as proht from the returned paper.
Other banks familiar with the matter
are making their plans to educate the
check-kiters, anticipators and all others
who use the banks funds on one ex-
cuse or another. with perhaps less in
difference to the evil, once 1t is made
costly.
No Radical Improvement.
Just because the American people
md 1t hard to believe that there can
be anything but o bull market in Sep
TENDER, october and November, with
much window dressing" in December,
and not from or by reason of any
radical improvement in the situation,
stocks have shown a little better tone.
that they are anxious to get over it,
they do not want to be calamity howl
ers; their faith in the United States has
always been supreme and they cannot
believe present unhappy conditions can
last much longer. They would rather
cheer for an upward movement In
stocks than for a bear raid.
For this reason the public is not in
the market; room traders seem to be
wholly responsible for the modest back
ing and filling movements of today.
stock quoted at price that he cannot
resist and buying order is placed, but
these orders are not numerous.
Must Improve.
Manufactured stocks are being con-
sumed; buyers are cautious, but they
are not striking; certain lines are func-
tioning nearly as usual, and there is
some business being transacted every
day. The Government at Washington
is busy in all departments, and that
makes much business here.
Merchants will not get as large q
share of the millions accumulated in
Christmas savings funds, but there win
be enough to make good holiday trade.
A Few Random Thoughts.
Said the Wise Man: Il took a loss
of 5000 on 20 shares of stock yeSter-
day, matter of $3.50 a share, and" he
added, that was In addition to Is
months interest"
There are many who have not
stopped the interest.
Kennecott on a per cent basisl 1t
Is indeed dif1cult to shut down produc-
ton, cut prices and maintain dividends.
Interest on deposits is one Of the most
important items In banks expense
account 1t Is bearing hard on the
banks this year. One Of these days they
may cut that venerable per cent rate.