Evening star., 1932-09-12

10 SCdIlQ III llilc
several minutes be- z
fore getting to Aubrey B. Carter.
cashiers windows
Then they must save all the receipts,
instead of using the Cancelled checks,
which causes further annoyance
When the check tax first went into
effect, the banks reported marked
falling off in the number of checks
drawn. There was also slump in de
posits as many patrons held back enough
cash to meet their bills without draw
ing checks. The same patrons are now
putting more money into the banks In
order to use more checks.
So far, the bookkeeping in connection
with the tax on checks has not proved
as costly as had been feared. The
fewer checks drawn have partly offset
the extra time in collecting the tax for
the Government. The recent more free
use of checks will make more book
keeping. but the increase in deposits
will be welcomed.
The extra expense of collecting the
tax is causing no complaints here. In
some sections OF the country there have
been hints that Congress might be
asked to repeal the tax on the ground
that it adds extra cost to the banks,
has reduced deposits and will not bring
in the total revenue that was first estl-
mated This sum was originally placed
at from $4,000, 600 to s9o,oo0,0OO
yearly.
Carter to Address A. B. A.
Aubrey B. Carter, national bank ex-
aminer in charge of the section OF
trust department supervision office OF
the controller of the currency, Will ce-
liver an address on Proper Quallflca-
tions of and Supervision Over Trust
Departments" at the fourth regional
trust conference Of Pacific Coast ana
Rocky Mountain States during the an
nual meeting of the American Bankers
Association at Los Angeles October l.
A slight betterment in collection and
sales condition throughout the Nation,
continuing the pickup noted IN the Au-
gust survey, is revealed in the Septem-
Der survey of business conditions oy
the National Association of Credit Men:
The results are based on the reports OF
correspondents in LOG major markets
of the country.
In contrast to a month ago, when no
city in the country reported good col
lections or sales, the present month
finds two cities in this classification.
Waterloo Iowa. notes sales as worthy OF
a good classification, while Boise, Idaho,
comes through with report of good IN
both collections and sales. Supple
mentary reports from the correspond
ents reflect optimistic trends as to
definite turn soon.
Made Rockville Bank Official.
Paul c. Ramsdell. for several years
national bank examiner connected with
the Office of the controller of the cur
rency in the Treasury, resigned his po-
sition today to become vice president OF
the Montgomery County National Bank,
Rockville, Md. As bank examiner he
has had very wide experience in the
banking field and has had an unusual
opportunity to make a special study OF
bank management.
Mr.. Ramsdell is the son of Mrs. May
Brooks Ramsdell of Washington and
the late Rev. DR.. Charles Benjamin
Ramsdell, for many years pastor of the
North Presbyterian Church in this city.
His mother. talented musician, was
musical editor of The Star for about lis
years.
The new Rockville bank Official
started his career in the office of the
Engineer Commissioner Of the District.
He will reside in Chopper, Nd, with his
wife and four children.
Today's d. c. Exchange Trading.
Capital Traction stock appeared on
the Washington Stock Exchange board
today for the first time since the direc-
tors voted to pass the quarterly dividend
due at this time. Ten shares of the
stock sold at T. The small lot transfer
indicates that most of the stockholders
are unwilling to part with their stock
at the present price. The market closed
with bid and 10 asked, the same as
last week
Other stock sales included a 10-share
lot of Washington Railway & Electric
preferred at n and another similar lot
at 81 a. Bonds were quiet today, Wash
ington Gas 6. series B, figuring in two
small transfers, one at 101l4 and the
othc-, :. l0lls.
Bank Womens Dinner Tonight.
Plans we're completed today for the
annual dinner of the Wonen's Com
mittee of Washington Chapter, Ameri-
can Institute of Banking, which takes
place at Hotel Roosevelt this evening
The committee in charge is composed
Of Mrs. Gertrude c. Wick, chairman,
Liberty National Bank; Miss Vivian E.
Stokes. Federal-American; Miss S.
Winifred Burwell National Metropoli-
tan; Rose L. Royce. the Washington
Loan & Trust Co.; Alice H. Wilton,
First National Bank. Alexandria; Anne
c. Crawford McLachlen Bank; Harriet
Barrett, Riggs National; Mrs. Etheline
Parker Security Savings g. CONNER
cial; Rebecca Snoak, National Savings
&, Trust Co.; Evelyn Lynham. Park Saw
ings; Myrtle P. Lewis, Liberty National,
and Ethel McOsker, American Security
e. Trust Co.
Heard in Financial District.
The Washington Better Business
Bureau issued a warning today advis-
ing holders of S. w. Strauss securities
against switching into other issues
without giving the matter very careful
thought Several local investors have
recently been persuaded TO give up
their holdings for other issues of oues-
tionable value.
The District Bankers Association
luncheon group will have the regular
weekly meeting at the Willard Wednes-
day. Two or three unusually impOr-
tant matters are to be discussed.
Robert V. Fleming, president OF the
Riggs National Bank has returned
from a vacation passed at Spring Lake,
N J.
Lawrence A. Slaughter, vice presi-
dent of the Commercial National Bank,
is taking his annual vacation. He is
passing much of the time in nearby
Washington.
Confidence that the railroads would
surmount their present difficulties if
certain legislation is enacted. was ex-
pressed by E. G. Buckland. president
of the Railroad Credit Corporation, in
a speech before the Savings Bank As
sociation of Connecticut at Norwich
In its annual Fall Outlook report
issued today. the United Business Serv-
ice forecasts increasing business vol
umes, firm commodity prices and the
maintenance of generally upward
trend In security quotations during the
Autumn months.
A further advance in New York City
bank stocks during the past week car
ried the aggregate value of 10 leading
issues to a new peak for the year above
$4,000. 600, 900 on September 8. accord