Evening star., 1935-09-17
STANDARD BANK
REPORTS SOUGHT
Marked Progress Reported.
Capita! Leaders Take
Active Part.
BY EDWARD c. STONE.

SJdle DdIlh CUIIllUlSSlOIlCIos 1bC-
construction Finance Corp. and
host of other agencies which for one
reason or another want to know the
condition of all banks in the United
States at stated periods.
At present there is a vast amount
of duplication of effort following every
condition call by the controller of the
currency. Some of the States ask
their home banks for quite different
set of figures from those asked by the
Treasury. 1t all costs the banks lot
of extra money and the time of many
clerks to get the report up in so many
different forms.
For several months a special COM
mittee representing the banks and the
interested Government agencies has
been working on the problem Two
active Washington bankers and other
financiers residing here have given a
great deal of time and thought to the
subject the Permanent Standing Com
mittee being composed of the fol-
lowing:
Herman B. Wells, for the National
Association of Supervisors of State
Banks, chairman of the committee;
M j. Fox, jr., chief, Division of Re-
search and Statistics F. D. I. c.,
Washington, secretary of the COM
mittee; Edward L. Smead, chief Divi-
sion Of Bank Operations, Federal Re-
serve Board, Washington; George C.
Haas, director Division of Research
and Statistics, Treasury Department,
Washington Philip R. Clarke, pres
i0ent, City National Bank & Trust
Co., Chicago, for the Reserve City
Bankers Association; George o. Vass,
vice president and cashier, Riggs Ma
tional Bank, Washington, for the
American Bankers Association, and
Arthur j. Linn, controller, Hamilton
National Bank, Washington. for the
National Association of Bank Auditors
and comptrollers.
The Burroughs Clearing House
magazine sees a great saving to the
banks, the Government agencies and
the taxpayers when the work is COM
pleted. 1t will take many months
more. But a splendid start has been
made. The two Washington commit
tee members are too modest to make
any claims as yet regarding results,
but they are free to state that the
conferences so far held have been
most constructive,
Clearings in IA Per Cent Rise
Bank clearings in some of the cities
In the fifth Reserve district for the
week ending September are un-
usually interesting because of the size
Of the changes. In Washington clear
ipgs totaled Sl7,059,968, against SILL
933,709 year ago, an increase of 442
per cent. Clearings in Washington in
the same week in 1888 totaled $685.
e44, and S14,o46, SOB in 1882
Clearings in Baltimore were up 96
per cent and in Charleston, w. Va,
93 per cent. Norfolk clearings were
up over 7 per cent, but Richmond and
Huntington, w. Va, reported slight
decreases.
In summary by the Financial
Chronicle, clearings in these six fifth
district cities totaled S98,561,3l1,
against $50 553, 480 in the like week a
year ago, an advance of 101 per cent.
Two years ago clearings in the same
cities totaled sec, sos, ,538, and three
years ago more than 100000 900.
Ann Arbor. Billings, Sacramento,
Elmira and Nashville were the only
cities that did better than Washing
ton in percentage gains.
Natural Forces Operating.
Col. Leonard P. Ayres, in his
monthly review, states that some of
the natural forces of recovery Con
tinue to operate in placid fashion to
hold business activity up nearly to
the levels established at the begin
ming Of the year. The American peo-
pie continue to buy large numbers of
automobiles and iceless refrigerators.
They are travelling more freely and
patronizing entertainments n
amusements more generally than they
did In the earlier years of the de-
preston. They are buying more per-
sonal and household goods at retail
stores than formerly. The farmers
are having their best year since the
depression started All these factors
sustain business"
Col. AyreS goes on to say that some
of the natural forces of recovery are
still exerting only meager pressure In
the upward push of business. Three
Of the most important factors, he
says, are export trade. railroad pur-
chasing and building construction.
He thinks an increase in building
would do more to promote recovery
than any other possible development
1t is worth noting that since his re-
view was written, Bradscreets latest
cfr
height for 1885
Financial District Gossip.
The probable payment of $114,0OO,-
600 for the 1885 crops on Virginia
farms will be the largest total in six
years, according to official estimates.
The gam in farm income will give
the territory the best buying power
since the depression started, Rich
mond forecasts say.
Another Washingtonian who will
attend the coming convention of the
American Bankers Association at New
Orleans is Edgar E. Mountjoy. repre-
sentative of the National Bank Divis-
ion here. He has attended every con-
vention for the last Is or 20 years.
Frank P. Harmon, jr as assistant
vice president of the Hamilton Ma
tional Bank, has returned to his desk
from his vacation passed at Blue
Ridge Summit.
Rolfe e. Boiling, president of the
Liberty National Bank, continues to
register steady improvement
Arthur J. Linn, who will attend the
A. 3. A. convention, will also take
part in the National Association of
Bank Auditors and Controllers Con-
vention, being one of the officers.
Capital Transit Sells Higher.
Capital Transit stock scored a sub
stantial gain on the Washington Stock
Exchange today. The market opened
with Is shares selling at 17E, same
as Yesterdays close. One hundred