Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-03


Mr. Larner de- -
clares that the Ii
days of the bank ~
presi d ent as tE2ak &aa28
"hgurehead" have John b. Larner.
passed, days when
the cashier did the work and the pres
ident assumed no real responsibility for
the actual operation of the organiza-
ton. He goes on:
The president of q well regulated
bank must now not only knew how"
but must actually assume its direction
and control He must know his bank,
so to speak. from cellar to garnet. The
greater his familiarity with the several
departments. the wiser will be his ap-
plicaton Of Common-sense principles,
which. after all are the fundamental
rules for wise decisions.
Keen Judgment Necessary.
There are certain rules which gov
ern us in determining questions. i'm
portant or otherwise, and in the MAN.
the application of this or that formula
to matters Of routine is not very diff
cult. 1t is only when the unusual hap
pens that serious thought must be given
and care exercised. that mistakes may
be avoided Very often counsel will say,
wisely. that the law applicable to the
case under consideration is thus and so.
but questions of business and eXpedi-
ency may advise the adoption Of pol
icy involving some risk Of litigation.
1t is then another character of respon-
sibilty arises. that OF exercising judg-
ment which must be pursued from an
entirely different angle. Very often
policy or expedency may outweigh
possible small financial loss or gain in
a given case.
In the administration of the Wash
ingtCn Loan g. Trust Co. I have always
given much consideration to my annual
reports AS the representative of the
stockholders and directors, the presi-
dent should, in my opinion, furnish
each year to all concerned as full and
complete statement of the condition OF
the bank as can possibly be given.
Bankers Responsible to Public.
Bank presidents must not forget
that they are responsible in many ways
to the public as we'll as to the directors
and stockholders. The customers or
depositors dealing with the bank have
q right to be informed Of the financial
condition of the institution in which
they are depoSiting or tranSacting other
business Of financial nature"
Mr.. Jarner explains that this does
not mean that the private business of
depositors should be exposed. The bank
FAdIIultIS, hS lbp ItSeIILdllNES VI VIC
public, regularly examine the internal
affairs Of the bank.
The bank official adds that expert
ence has taught him the wisdom of
providing the public with as full and
complete facilities as possible for the
transaction of general banking business.
He depicts in detail the present layout
Of the Washington Loan & Trust Co.,
citing the location and purpose of each
- -, If 1nyf
enced banker then mentions the
information which he scans daily, con-
tinuing:
To help me in the administration of
banking l have on my desk each morn
ing thee important daily statements,
the first one showing me exact condi-
ton of the banking department. the
second the condition of the trust de-
partment and the third the daily
business Of our one branch Office. These
sheets give me full working knowledge
of the general condition OF the entire
bank each working day.
Should Encourage Personnel.
"A factor which I consider of no little
Importance in the bank management
of 1881 is the esprit de corps of the
entire force whose business it is to
conduct the daily routine of the bank.
Occasionally, of course, some one will
60 wrong or become temperamentally
unfit for his work, but this is, COM
paratlVely speaking, a rare occurrence
in a well organized institution. We
must remember that We are all human
and need help and encouragement from
the president down to the one holding
the lowest position. A few words at the
proper time may obviate difficulty and
start the development of latent talent
which may be of untold usefulness,
producing material for an executive of
no mean order.
When you reap. the results of your
efforts you will be forever thankful in
the consciousness Of having given a
helping hand to those less fortunate
than yourself and who in time may
occupy important positions in your own
bank as well as in the city in which
you live" Mr.. Larner concludes.
Bank of Commerce Elects.
The regular meeting of the di-
rectors OF the Bank OF Commerce e.
Savings organization fer the coming
year. following last weeks annual meet
ing, resulted in the reelection of every
official. The officers: Maurice D.
Rosenberg, president; Joseph Sanders
vice president; Irwin OWings, vice pres
ident: John NJ. Riordan, executive vice
president: Thomas J. Groom, vice pres
ident and cashier; Oliver B. EXline,
assistant cashier; Francis E. Robey,
assistant cashier; Joseph H. Milans
secretary. and Clarence A. Weaver
auditor.
President Rosenberg reported that the
bank has enjoyed an excellent years
business and starts of the new year
with fine prospects. He said that in
spite of business conditions the di-
rectors had cause to feel most graft
fed with the progress being made.
Mr. Rosenberg has been president OF
the bank ever since it was organized
In 1907. John NJ. Riordan, executive
vice president, has also served the
bank during the same long period
Rapid Transit Reports Slump.
The washington Rapid Transit Co.
has reported an increase in deficit in
August and for the first eight months
of the year to the Public Utilities Com
mission In the item for August, 1881,
deficit OF $l0.63497 is revealed as
against one OF $6,795.49 for the month
last year, an increase of $3,839.48. In
the item for the first eight months
of the present year there is deficit
of S19.88S.22, as compared with one of
S16.73912 for Ene corresponding period
of 1880, an increase of $3,14910.