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Taxation. "This discussion [trend of taxation] is all in point here because long ago most of us learned that the question of bank taxation could not be settled for itself. It is bound up with the whole tax problem"—Thornton Cooke, president, Columbia National Bank, Kansas City.
Service Charges. Every progressive banker must give serious thought to the use of a measured charge on checking accounts, said W. D. Schultz, vice-president of Commercial Bank & Trust Co., Wenatchee, Wash., adding that commercial depositors use the bank as a clearing house, not a repository.
Business Conditions. "The depression in this country is merely part of a world-wide situation due largely to the sharp decline in the price level of raw commodities. . . . There are evidences that the present depression has just about run its course"—A. B. A. resolution (echoing President Hoover). By the end of 1931 business will have reached the statistician's norm, halfway between the nadir of depression and the zenith of prosperity, predicted Col. Leonard Porter Ayres, vice-president, Cleveland Trust Co.
Election. Rome C. Stephenson, A. B. A. vice-president last year, was automatically elected president to succeed John G. Lonsdale. New vice-president, to be president in 1932, is Francis Hinckley Sisson, vice-president of Guaranty Trust Co. Mr. Sisson has done much newspaper work and was a pioneer in bank advertising. He was also (1916-18) assistant chairman of the Association of Railroad Executives. He was born in Galesburg, Ill., graduated from Knox College in 1892, became a banker in 1917.