Ogden Daily Standard | 1908-02-27 | Page 6 | Clearing Houses Adopt New Law

CLEARING HOUSES ADOPT NEW LAW los angeles cal feb 26 by the terms of a resolution adopted by tho the los lbs angeles clearing house association today before Sept september embr 1 1908 twenty seven banking houses now doing business busl ness in this city either must make mergers among themselves increase their capital stock or go out of the commercial line of business after that date no bank having less than paid up and unimpaired capital will be recognized by the association cia tion for many months conservative bankers of this city have looked askance at the cho banking houses springing up in various part of the city caty with capital stock not commensurate with what they consider adequate krotec pr tion for the depositors and other banks forced to do business with them