Cleveland

Special Correspondence

PSYCHOLOGY OF WINDOW DISPLAYS BY BANKS

A series of window displays, chiefly comprising graphic charts on a variety of subjects, conducted by the Guardian Savings & Trust Company of Cleveland afforded some interesting results as to the psychology which enters into the matter of attracting and holding public attention. These exhibits were conceived and displayed under the direction of the advertising manager, Mr. Arthur C. Rogers. The first graph showed the fluctuations in the purchasing power of the dollar during the past eight years. Discs were shown on a poster with a black background and within each disc was the number of coins necessary to make up the value at the time. This display pulled better than any shown in the series.

The next graph illustrated the number of labor-hours an ounce of gold will buy in various countries beginning with 17.22 hours in the United States and ranging as high as 201.66 hours in Germany. The next exhibit dealt with the comparative costs of bread, milk and coal at various periods. The varying quantities were illustrated by different sizes of bottles of milk, loaves of bread and lumps of coal.

As a result of observations made by Mr. Rogers in connection with the drawing power of these and other window displays he expresses the following conclusions:

"A bank window display reverses the principles of outdoor advertising. The latter aims to compel attention by sheer size and obtrusiveness, and then to flash its message so quickly that he who runs may read. The bank window, to be fully efficient, must first attract attention and then hold it.

"A window may seem attractive without really being so.

"A bank window display that flashes a constructive message may be effective, but doesn't often prove that it is.

"The more universal the appeal, the greater the chance of attracting attention-but not necessarily of holding it.

"A graphic chart for a window display may be too graphic, thereby diminishing its effectiveness.

"Graphic charts interest a few people all the time, and many people sometimes.

"Costs of food, or clothing, or shelter, or labor, interest groups of people. Everybody is interested in money. But since variety is the spice of life, perhaps it's good that the clock doesn't strike thirteen every time."

GROUND

BROKEN FOR NEW UNION
TRUST BUILDING

Work has been started on the new twentystory bank and office building of the Union Trust Company of Cleveland which will not only be the largest office structure in Cleveland, but second only in number of square feet of space to the Equitable Building in New York. The building will be erected at the northeast corner of Euclid avenue and East Ninth street, in the busiest center of Cleveland and will give a new contour of the city's sky line.

The completion of this new building will give this corner a truly metropolitan aspect. The sidewalk frontages of the new building, instead of consisting simply of long stretches of pillars, stone walls and windows, as was the case with so many of the old style bank buildings, will be occupied in the new building by stores and shops. The architects are Graham, Anderson, Probst, and White of Chicago, a firm with a remarkable list of beautiful buildings to their credit.

FRED G. BOYCE, Jr., Vice-President

The contractors are the Thompson-Starrett Company of New York City. Associated with them in the construction of this building will be the Crowell-Little Company of Cleveland.

The size of the building is stupendous. It will extend for 145 feet on Euclid, 256 feet on Ninth, and 381 feet on Chester. Beyond the main building will be a five-story service building, separated from the main building by an alley, but bridged over on the upper four stories. This will extend for 116 feet further on Chester avenue. A single side wall of the building-the one on the Chester avenue side-will have a facade area of about 100,000 square feet. The three sides of the building facing on streets, that is, the Euclid, Ninth and Chester sides together, will have a facade area of about 200,000 square feet. The total floor space will be over a million feet.

CLEVELAND TRUST COMPANY GAINS

With fifty branch offices located in thriving centers of the city and supuros the Cleveland Trust Company is steadily increasing its volume of business and at the present pace will soon reach the two hundred million mark in resources. The latest financial statement shows aggregate resources of $163,455,000, with cash on hand and in banks of $18,869,000; U. S., municipal and other securities, $25,925,000; loans and discounts, $112,724,000; real estate, $4,356,000; letters of credit, $527,000. Deposits now total $143,489,000. The capital is $8,600,000; surplus and undivided profits, $5,043,000. Since March deposits have increased approximately six millions.

Charles B. Gleason, manager of the Bond Department of the Cleveland Trust Company, has been elected a vice-president of that institution.

A. H. S. POST, President

WHY FOREIGN TRADE IS ESSENTIAL The importance of foreign trade as A stabilizer of American industry was emphasized at a recent forum meeting of the Chamber of Commerce of Columbus by Mr. W. E. Guerin, vice-president and manager of the Foreign Department of the Guardian Savings & Trust Co., Cleveland.

"Our domestic market will always be the most important we have," he said, "but foreign trade is necessary to stabilize it. The smallness of the percentage of our excess production to the total volume of our domestic business is misleading when considered upon a percentage basis alone. A 5 or 10 per cent. loss might suggest that 95 per cent. or 90 per cent. of the total trade would be left, but such an assumption is absurd because it presupposes that the 90 per cent. or 95 per cent. in no way depends upon the 5 per cent. or 10 per cent. It overlooks. the fact that many of the most important things in business and financial life which determine the question of depression or activity, or loss or profit, or sound or unstable financing, turn upon percentages less than 5 per cent. or 10 per cent."

The Union Trust Company of Cleveland has opened up another new branch officewhich is to be known as the Lorain-93d Office, which occupies its own exclusive building.

The Bond Club of Cleveland has been organized by Cleveland members of the Investment Bankers' Association for the purpose of developing co-operation among the men engaged in the investment business and maintaining high standards and just principles in the profession.

The Ohio Savings Bank & Trust Company, Toledo's largest bank, announces the construction of a new home for its West Toledo branch.

UNION TRUST COMPANY'S "GOOD WILL"

DELEGATE

On July 26th nearly 100 American women, chosen throughout the country in popularity contests sponsored by the American Committee for Devastated France, sailed to serve as "good-will" delegates from this country to France.

Included in this group was Miss Marion Barry of the Union Trust Company of Cleveland, Ohio. The selection of a bank employee as a member of the National Good Will Delegation is a remarkable appreciation of the financial services which the Union Trust Company is rendering the city of Cleveland, and before sailing Miss Barry said she would "put forth every effort to carry to France the Union Trust spirit."

KARL H. SOMMER

Karl H. Sommer, assistant secretary of The Guardian Savings and Trust Company, and president of the Cleveland Chapter of the American Institute of Banking, died July 26th, at Lakeside Hospital. He was forty-one years old.

Mr. Sommer had been a member of The Guardian Bank staff for eleven years. For five years he was auditor, from which position he was promoted in March to assistant secretary in the trust department. He was

an enthusiastic worker in the A. I. B., and under his leadership, the Cleveland Chapter attained high ranking because of its large membership and extensive educational activities. His many friends and acquaintances throughout the banking world regret exceedingly his untimely death.

MISS MARION BARRY
One of Cleveland's Four "Good-Will" Delegates

At the annual election of the Society for Savings Bank of Cleveland, Mr. Howard M. Yost, former secretary, was elected treasurer, and Mr. Richard T. Edison, former assistant secretary and treasurer was made secretary.

Pittsburgh

Special Correspondence

COMMERCE COMMITTEE OF FINANCE AND BANKING

Among the prominent bankers recently appointed by the Pittsburgh Chamber of Commerce as members of its Committee of Finance and Banking are the following:

H. C. McEldowney, president Union Trust Company; George DeCamp, manager Federal Reserve Bank; John B. Barbour, president Pittsburgh Stock Exchange; D. P. Black, president Real Estate Trust Company; James C. Chaplin, vice-president Colonial Trust Company; L. H. Gethoefer, president Pittsburg Trust Company; H. S. Hershberger, vice-president West End Savings Bank & Trust Company; J. W. Marsh, president Exchange National Bank; J. R. McCune, president Union National Bank; William Price, president Diamond National Bank; H. E. Reed, vice-president, Union Trust Company; William McK. Reed, president Third National Bank, and Lawrence E. Sands, president First National Bank.

PITTSBURG TRUST COMPANY

The latest financial statement of the Pittsburg Trust Company shows total resources of $19,985,000, embracing cash on hand and in banks, $4,162,000; investment securities, $6,331,000, and loans, $8,228,000. Deposits total $14,220,000. Capital is $2,000,000; surplus, $1,000,000 and undivided profits, $1,316,000.. The company reports estate and voluntary trust holdings amounting to $9,179,000. Corporate trusts are valued at over $36,000,000.

PITTSBURGH BREVITIES

Application has been made for charters for two trust companies for Irwin. One is to be known as the Union Savings Bank & Trust Company, with $250,000 capital, and the other the Irwin Savings & Trust Company, with $125,000 capital.

The First National Bank of Pittsburgh has opened a newly equipped and furnished steamship and tourist department at 513 Wood street in the building adjoining the First National Bank building.

President W. McK. Reed of the Third National Bank of Pittsburgh has announced the promotion to assistant cashierships of William W. Hamilton and William A. Caddick.

Pittsburgh.

FIDELITY TITLE AND TRUST CO.

341-343 FOURTH AVE.. PITTSBURGH.

ESTABLISHED 1886

Acts in all trust capacities Trust accounts managed aggregate more than $100,000,000

Capital, surplus and undivided profits $6,700,000. Handles checking accounts of corporations, firms and individuals.

OLD NATIONAL AND UNION TRUST OF SPOKANE

The Old National Bank of Spokane, Wash., with which is affiliated the Union Trust Company, reports aggregate resources of $21,108,000, including cash and due from banks, $3,676,000; loans and discounts, $14,651,000, and U. S. bonds of $1,334,000. Deposits total $18,172,000; capital is $1,200,000; surplus and undivided profits, $390,648.

The Union Trust Company, under the presidency of Mr. W. J. Kommers, confines its activities chiefly to trust business. It reports total trust responsibility of $22,356,000 including trust investments of $8,677,000. Resources amount to $528,000.

The Industrial Bank of Japan has issued its twenty-second semi-annual table giving detailed information of public bonds and debentures in Japan existing on Dec. 31, 1921.

Members of the Employees' Bureau Development Club of the American Security & Trust Co. of Washington, D. C., brought in 200 new accounts with total of $68,469 in initial deposits between April 15th and June 30th.

The Railroad Brotherhoods have received a charter to organize the Transportation National Bank, which will open in Minneapolis September 1st, with capital of $200,000.

Los Angeles

Special Correspondence

REASONS FOR THE RECENT MERGER Henry M. Robinson, president of The First National Bank of Los Angeles, the Los Angeles Trust & Savings Bank and the First Securities Company, who brought about the recent merger of numerous banks and trust companies headed by the Los Angeles Trust & Savings Bank, and who will direct its operations in outlining the policies to be pursued by the merged institutions, said:

"One of the results of the experience in the great war has been that people have come to know definitely that economies can be made and wastes eliminated by the merging of institutions in practically every line of endeavor, and it will be observed that this tendency is very strong in all parts of the world and in all lines. It is a form of co-operation on a definitely organized plan, in which a given activity in various communities is co-ordinated for the benefit of all of the communities. This particular merger contemplates the co-ordination of institutions within an economic area which constitutes a part of the great Pacific-Southwest, to the end that the institution's work will prove of general benefit throughout the area.

"The area in which this merged institution will carry on its activities directly is that part of California including Fresno and south to the Mexican boundary, and in this section the products, agricultural, mining and manufacturing, are harvested and marketed in such seasons that it will make substantially a continuous use of credits and flatten the curve of peak demands to the minimum. This gives a more economic use and co-ordinates the funds within the area to the advantage of all concerned.

"It is a fallacy to think that size and 'bigness' are desirable ends. In a country producing as prolifically as this, and where nature is so kind, it should be the endeavor of all the producers to improve the quality of their products. The California co-operative associations which are outstanding successes, as compared with co-operative associations in other parts of the country, are committed to the policy of improvement in the quality of product. So, too, in the banking institution the aim should not be volume, size and figures, but on the other hand should be a continual striving for improvement in the quality of service. The immediate benefit runs to the customer, the secondary benefit to the institution itself, and to its stockholders.

"Our theory is that the necessary thing is to bring banking institutions together in such a way that the merged institutions will have the co-operative assistance of officers, directors and stockholders who have cared for the needs of their respective communities and have knowledge of their requirements and the desirability of customers in their respective communities and districts. We have felt that the mere installation of branches, or the absolute outright purchase of already existing banks, would not accomplish the fundamental purpose. It is for this reason that the present method of cooperation has been worked out, a method by which none of the local control or knowledge is lost through the entering of any particular bank into this system. The old stockholders retain a proportionate interest in the new institution and accordingly each locality has a proportionate interest in the whole operation. We are doing in banking the thing which has proven advantageous in all lines of human endeavor, and we have adopted as fundamental the aim improvement in quality of service."