Show 3 The Clearing House used and the Bank Banki Data Supplied by E E. A. A James Bank Examiner for the Salt Lake arid and Ogden Clearing House Associations Article No 3 The leadership of the Salt Lake City a and nd Ogden Clearing House associations i In n local banking activity may be ascribed t to o the primary fact that It Is a voluntary volun volun- t tary ary association organized and nd maintained main main- t amed for the sole sola purpose of l ing og the reciprocal relations of the city's banking Institutions am anO of holding to t the he highest standard of efficiency In banking operations Wherever there Is Isa isa a Clearing house the same came leadership ob ob- ob t am Dominant over all other l tion ions there exists the spirit of coopers coopers- t ion tion which Involves the willingness to s subordinate unreasonable self interest to the general weal weal and and a broad and voluntary vol acceptance of constituted authority auth- auth lt It follows then that membership In the Clearing House association is a seal or of merit a badge of honor honor honor-a a distinction to be sought a reality reality- to be expected by the public of its banks Being a voluntary association its it government is entirely representative and democratic There is no lion tion between members The large bank and the small Institution are received on the same basis No member yields anything of Its autonomy In assenting assent assent- ing to th the necessary ary rules of procedure All Is devised and executed only for the ne good of all for the banks themselves them them- selves E and J more Particularly for every bank d P In the community Relations Relation with banks of other cities the roster of customers customer the amount and kind of business In hand hand all all these matters mat mat- are ot of no official Interest to the association or It its members Actually ii they are never revealed to even the clearing ii house houe committee except In an eventually where the banking health of the community may be endangered and in i that case case- It Is I. to be supposed the first Instinct of an Impaired bank would be to address the governing body for forIt aid It has been shown In a previous article that the origin of the clearing house lay Idea In a desire to simplify the balancing hal bal of debits and credits between banks Thus Thu the Idea wa was wholly utilitarian in Us its beginning The spirit of helpfulness between member banks bank and the conception of advancing the fi financial fi- fi health and happiness of the community were later developments At As Atthe the idea has haa ramified and grown Into these deeper expressions expression of public service ice it may be stated with conviction that they have now become of wider ultimate value than the merely routine check of balancing Items So the In Individual individual in- in bank which relinquishes no atom of its Ita by virtue virtus of it its clearing house membership finds on the contrary that its it usefulness to itself Itself It- It self to Its customers customer and to the community a as a whole Its materially enhanced by this active cooperation with other banks of its own city in keeping the financial situation sound In Salt Lake City and Ogden today Interest In the Clearing House association Is no longer confined to those who make banking their profession The Theman Theman man on the street to whom the association association formerly meant nothing but a mysterious mys agency which had something to do with his checks Is now thinking In terms of welfare personal and public Mr Average Man now enjoys enjoy the consciousness con con- that the Clearing House as association association as- as is an aggressive force for good an essential element in our community without which neither he nor hi bank could feel the security that must always the basto baslo idea of banking Editors Editor's Nofel This l 1 the third of n 5 series of ef fly fire articles article by Mr Jameson James Jarne on the clearing house that will appear on the financial pages page of Time The Telegram The fourth will appear Sunday |