Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-09

savings banking, led by Indy A. Bond.
assistant treasurer Home Savings Bank,
Boston. Robert J. Kendall. president
Hudson City Savings Bank, Jersey City,
N. j., said that a great deal of success
of a locality is dependent upon the wis
dom end justice of those directing the
local bank which has the opportunity
CT being the controlling force in the
commerce and civic life of its neighbour
hood" and the selection, character and
caliber Of those represented on the
banks payroll is therefore of the great
est importance to the life of the insti-
tution The president of bank, Mr..
Kendall said. in all he thinks and does
is advertising the caliber and tempera-
ment of his institution and, If he mea-
Sures up to the average standard of
American citizenship, Il guarantee that
such man will succeed by his own in
huence in making the great ma jority of
those who serve in the bank useful,
honest and upright employees"
Public Confidence.
Public confidence Is founded en- good
management, said H. H. Reinhard vice
president Mercantile Commerce Bank
e. Trust Co., st. Louis, declaring that
public confidence is the very foundation
SUOIlC Vi al UdIlhllk dlu Jus
mess enterprises. He said that good
management incorporates the well de-
finod principles of producing maximum
service at a minimum cost, building
along the lines of conservatism, di-
versifcation, liquidity and stability. the
bold adoption of charges for service
rendered wherever necessary, the CO.
operation with other banks in the es-
Enlistment CT credit bureaus and clear
inghouse groups and the cultivation of
that indispensable asset, good will"
Never in the history of banking had the
word ''liquidity" assumed such vital i'm
portance as in the past Is months, he
said. when its degree often spelled the
difference between success and failure"
No safeguard yet discovered is so SAL
utary or possesses such force of re-
straint against impulses to dishonesty
as the check of one man against an
other. declared F. l.. Whittier, auditor,
Fidelity Savings Trust Co.. Kansas City,
in discussing Audit and Control of the
Savings Department" He said that in
his opinion any bank which has in oper-
alton any savings control system in
which any one man controls all of the
records which will complete transact
ton is inviting disaster as surely as a
man investigating the contents of a
gasoline tank with a lighted match.
In discussing real estate bonds at the
departmental conference on investments
and investment banking, Julian w.
Tyler. secretary, E. G. Tillotson & Co.,
Cleveland, said this class of securities
had suffered from the public conviction,
nourished over long period Of years.
that real estate Is the safest form of
investment Charles I. Norman. vice
president Highland Park State Bank.
Highland Park, Mich, was leader at
this conference. An element that must
be emphasized in real estate financing,
declared Mr.. Tyler, is earnings, as here
tofore there has been too much reliance
upon we'll intentioned appra!sals as to
value. Other elements that must re-
ceive a new emphasis he added, are the
economic need for the improvement, a
greater margin of safety and mere
liberal allowance for vicissitudes. He
said he hoped that real estate bonds
will be divorced SC far as humanity pos
Sible from operations that are specula-
tive and will be sold Only by these whose
experience in loaning money upon real
estate security entities them to assume
the grave responsibility involved in the
marketing Of any investment.
Other Papers.
Mr.. Tyler said that in time real es-
tate will return to the proud place
once deservedly occupied by it as the
premier investment" declaring this to
h. q desirai ,le cons,imn1 ation for sit