Evening star., 1943-01-26
D. {. Banks 10 Start
Handling Ration
Coupons Tomorrow
New Service Expected
To Tighten Burden on
Rution Boards
BY EDWARD c. STONE,

BY EDWARD G. STONE.
Washington banks. along with
banks all over the United States. will
open a new and novel service tomor-
row. ration coupon banking. as di-
rected by the once of Price Ad-
The new service will
ease the burden on $500 ration
boards of the Nation and at the
same time give the banks an op-
portunity TO play vital role in equal
distribution of rationed commodities,
The Capitals banks are ready for
the opening, John A. Reilly. presi-
dent of the District Bankers AS
sociation, said today Deposit slips.
checks" and all other necessary
printed matter have been procured
and are ready for use. Each bank
has made its own arrangements for
taking up the new service. Employees
have been especially assigned to the.
work, and have made careful study
of what the banks are expected to do.
Washington banks, Mr.. Reilly said.
will all follow the general methods
OF handling ration coupons and
stamps outlined by the American
Bankers Association, and suppli-
mented by directions from the OPA.
Ration banking items are to be
cleared through the Washington
Clearing House and the Federal Re-
serve Bank of Richmond. The rec
ords will be kept entirely separate
from dollar banking operations.
No "Overdrafts" Allowed.
There will be no overdrafts in
ration banking such as cause so
much bother in dollar banking. ANY
shortage of coupons, or stamps, how
ever, must be reported to the OPA at
once. Some bank officers said today
that ration coupon depositors would
be accommodated at special win
dows, while others said all their tell.
ers had been instructed to hands
the new accounts.
Bankers anticipate no great rush
on the opening day. 1t Is expected
that many merchants will wait until
they need new supplies from the
wholesalers before opening their ac-
counts. This might mean it would
be two weeks or more before some
dealers in gasoline, sugar or coffee
would deposit coupons in the banks.
The checks" will be used by re-
tailers to show wholesalers and man
ufacturers that they have ample
ration credit to make proposed pur-
chases Of goods. The regular dollar.
checks will be used in the payment
Tor all commodities. Ration checks
have no money value. '
Counting Coupons Big Task.
Chain stores are expected TO be
among the biggest depoSitors. Some
chain store head offices have from
6 to 10 clerks counting coupons and
stamps every day. Bankers have
been told that among small dealers
1t often happens that entire families
spend all day Sunday counting up."
as small merchants cannot afford to
hire extra help during weekdays.
FOOD dealers whose December sales
were less than $1,000 may continue
10 take their coupons direct to the
wholesaler, or they may open ration
accounts at the banks. Ration bank
ing Is not for consumers, who will
continue to get their coupons and
certlflcates from local war price and
rationing boards.
Limited to coffee, sugar and gas
ollne at the start, ration banking is
expected to expand rapidly In the
near future, as the OPA tlans to add
many more articles to the list. fuel
Oil probably being included.
Unlike the enormous sales of War
bonds, which the banks handled at
their own expense, the costs of ration
banking are to be paid by the OPA.
Ihe schedule, however, indicates no
margin of profit.
Banking Courses Outlined.
About so members of Washington
chapter. American Institute of
Banking, heard George. Earnshaw.
chairman of the Educational Com
mlttee, outline courses for the spring
Term at the mid winter meeting
last night in the American Security
Building.
DR.. Elmer Louis Kayser. Georps
washington University dean, gave
an inspirational talk on the value
OF education, and John A. ReilIys
president of the District Bankers
ASSOCIATION, presented greetings
from that organization. George M.
Rowzee, jr., chapter president, also
spoke.
Courses for the spring term will
include Banking I, taught by Ralph
F,nd1Hnff occictoy,t r.
Washington Loan g. Trust Co.
and Law I, the instructor being,
wilbur N. Baughmail of the Fed-
eral Trade Commission. -
Reviving of RACE Opposed.
The Independent Bankers As,
sociation has protested to the Agri-
culture and Banking Committees of
the Senate the revival of the Regiorf-
al Agricultural Credit Corp, an
nounced by Secretary of Agriculture
Wickard.
A telegram states that country
banks are able and anxious TO serve
agricultural finance needs. There Is
no need for re-establishing new Of
flces. employing more manpower and
AA'SSs' AiiS AictC CApcIiSG iOI bdxUaN-
ers to bear. the telegram adds. 49,
The bankers oppose duplication of
service they are rendering and ask
Tor an investigation of any real need
for the credit corporation.
Capital Transit at New Peak. -
Capital Transit reached another
new high mark for many years on
the Washington Stock Exchange to-
day. 16N
The stock opened with 30 shares
moving at 30H4, unchanged from last
week. Ten more sold at 3O1a, while
10 more shares changed hands at 81.
The final bid was 30A, with 3IL
asked.
Washington Gas Light SIS pre-
ferred stock was strong. moving ex-
dividend at 98%. The last previous
sale was at 100. s--
Financial District Notsx F