Show Domination of Banks by Clearing Houses Claim Rules of Salt Lake Association Put in Record in Money Trust Inquiry Dee Dec D. D Clear ClearW Clear Clear- W v Ing inS house domination of ot banking Institutions formed the time basis of or the first days day's examination of or witnesses in the House banking and currency committees committee's investigation of ot the called so-called mono money trust which was resumed to today a Samuel counsel for Cor the committee placed In tho the record the tho rules of or the tho clearing house as association as- as sedation of ot Salt Lake which prescribe prescribe pre pre- scribe an Ironbound series of or rc reg reg- governing go the tho charges to bo be made mad by bj its members for service performed for a 3 depositor A. A C. C Knox of ot Pittsburgh presIdent president pres pres- ident of ot the Mellon bank characterized characterized char char- these rules as unreasonable unreasonable unreason unreason- able declaring they practically took tool control of or the bank out of ot the hands of ot its officers Mr endeavored to show that thero there was a general movement mo among clearing houses to Impose on banks a rule enforcing the collection of at commissions on I town out checks collected by br banks In this connection conne ho he ds- ds asserted that tho the Baltimore clearing clear clear- ing InS house declined to admit the State Bank Dank of ot Maryland to a n clearIng clear clear- ing membership because it would not be forced to abide by the clearIng clearIng clearIng clear- clear Ing house rule enforcing such col col- col- col From Pittsburgh bankers Mr elicited that a suit Bult was pending to prevent the enforcement enforcement enforce enforce- ment mont of ot a rule for tor collection of 01 commissions on orx town out checks which was adopted in conjunctIon conjunction conJunction con- con Junction with clearing houses in Cincinnati Cleveland and Colum Colum- bus Tho The Mellon National Farmers Farmers' Farmers Farmers' Farm Farm- ers ers' Deposit and the Lincoln National National National Na Na- bank tank of ot Pittsburgh h declined to accept the tha rule and are seeking nn an injunction to prevent its opera opera- tion t I tRobert Robert W W. War rop president of ot the tho Pittsburgh Clearing House 1 as association as- as told the committee that the tho collections of ot town out checks free of 01 charge did not embarrass embarrass embarrass em em- barrass tho the banks financially but th that t th tho Impost imposition of or a ll rato rate of ot exchange was for tor tho the purpose of ot increasing tho the earnings How Hop much does your bank earn 1 asked ed Mr Sir U terme er About 2 22 or 23 3 per cent on its Us capitalization answered Mr Is not that a a. pretty fair return Yes that's pretty good But with a a. rate rato a of exchange o It would be better is that it Yes Tes it would ouIa bo be better |