Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-09
zenshp when people are land-minded
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zenship when people are land-minded
rather than stock-minded."
Other papers presented at this con-
ference were Relation of Investment
Department to Trust Department" by
DR.. Ralph E. Badger, executive vice
president. Union Guardian Trust Co.,
Detroit, and Pros and Cons Of Sales
to Customers" by William N. Pope, vice
president, First Trust and Deposit Co.,
Syracuse, N Y. -
The ethics of credit investigation,
like the ethics of business, consist in
nothing more than the application OF
sound moral principles" said Harvey
l.. WEIGH, manager of the credit de-
partment of the First National Bank
in st. Louis. in his address before the
departmental conference on credits,
which was led by Melville NJ Parker,
secretary, United Security Trust Co.,
Philadelphia. Unless business men
adhere to and accept some sort of
standard practices, sound cooperation
is impossible" Mr.. WEIGH said. In
seeking and giving credit information,
all those involved should realize. first
and foremost, that they are acting as
trustees for other people. Most of the
information which they have to give
and which they obtain. is given in con-
fidence, and unless all parties accept
certain standards of conduct with re-
gard to this information, they are vio-
lating trust and are undeserving of
any consideration. Professional ethics
in tine field of credit are just as i'm
portant as in the field of medicine
or law. Until credit men fully realize
their responsibility in this connection.
they can never hope to achieve the full
possibilities of their profession. In
simplest terms, the ethics of credit in
vestigation are a practical application
Of the golden rule
Other special papers presenting topics
for discussion at this conference were
sized Credits and the Amor
tization Type Loan" by Joseph E. Brine
assistant cashier Morris Plan Bank of
Richmond, Va, and The Credit Risk
in Collateral Loans" by Alan G. Warner,
assistant vice president Chatham
Phenix Bank &, Trust Co., New York.
Subjects discussed at the depart
mental conference on bank admins
tration were Better Bank Management
Through the Control of the Invisible
Assets" by "A. C. Hoffmeier, deputy
examiner Cleveland Clearing House
Bank Liquid" by Raymond o. Dexter,
vice president Second National Bank,
Boston. and Costs in Banking" by
Charles Zwingli. First National Bank
of Chicago. Harry H. Hahn, vice presi-
dent and cashier National Central Bank,
Baltimore, was the leader at this con-
ference.
Importance of Auditors.
The position of auditor in a bank is
today one of the most essential to a
we'll managed institution, the conference
on audits and accounting was told by
Frank v. Grayson, auditor Federal Re
serve Bank of Cleveland. Audit work
demands men of the highest type, said
Mr.. GraySon, and now, as never before.
are thinking and up-to-date auditors
sorely needed. He said that the best
advice that can be given to any one
entering the banking business is to
join the local chapter of the American
Institute of Banking and take up the
prescribed study courses.
In paper on Trust Department
Auditing" William H. Lindsay, con-
troller Provident Trust Co., Philadel-
phia, emphasized the necessity of clarity
and legibiity in recording transactions.
Income Tax Problems of Banks" was
discussed by r. D. Bond of r. D. Bond
g. Co., public accountants. Detroit.
Arthur j. Linn, controller Federal
American National Bank g. Trust Co,
Washington, D. c., presided at this con-
ference.
Howard Ritter, auditor Federal Land
Bank of Baltimore and Federal Inter-
mediate Credit Bank of Baltimore. led
the discussion at the departmental
conference on deposit. functions, at
which the following papers were pre-
sented: THE Transit Department and
Some of It's Problems" j. r. Evans,
manager transit department, IndepenG-
ence Trust Co., Charlotte, N. c.;
problems in Connection With the
Handling of Non-Cash Items" j. Bick-
ley Jackson. manager collection de-
partment, Philadelphia National Bank,
Philadelphia, and The Gold Wire Set
Element Fund" John. A. Johnston,
assistant cashier Baltimore branch
Federal Reserve Bank of Richmond, Va.
Tomorrow there will be three con-
ferences, beginning with breakfast at
am. and lasting until noon. Henry
Verdelein Of the First Securities Cor
poration, Minneapolis, will preside at