One Way Bank

Ideal would be the bank that had all deposits and no withdrawals. Utopian, of course, such an idea. Yet a long step toward it has been made in the organization of a new (as yet unnamed) trust company in Scarsdale. Unique feature of this bank will be a bill-paying service for depositors. When a bill comes to the depositor's home, it is approved, sent to the bank and paid by the bank out of the depositor's funds. Thus the depositor is saved the mental anguish of writing a check and Scarsdale tradesmen receive prompt remittances.

If the service also includes these tradesmen, however, and if their bills are also paid, the bank activities would seem to consist largely of transferring credits from one account to the other, meanwhile retaining all the actual cash. Thus if Depositor Doctor Jones buys an $80 suit from Depositor Tailor Brown, and Depositor Tailor Brown owes Depositor Doctor Jones $80 for services rendered, the bank sends the doctor's check to the tailor and the tailor's check to the doctor and everyone is happy. Manhattan businessmen living in Scarsdale have chartered the bank with capital & surplus of $400.000. Active in the organization has been Oscar F. Banse, treasurer of Vanderbilt Hotel Corp.