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Special Libraries, October 1935 Special Libraries Association San Jose State University SJSU ScholarWorks Special Libraries, 1935 Special Libraries, 1930s 10-1-1935 Special Libraries, October 1935 Special Libraries Association Follow this and additional works at: http://scholarworks.sjsu.edu/sla_sl_1935 Part of the Cataloging and Metadata Commons, Collection Development and Management Commons, Information Literacy Commons, and the Scholarly Communication Commons Recommended Citation Special Libraries Association, "Special Libraries, October 1935" (1935). Special Libraries, 1935. Book 8. http://scholarworks.sjsu.edu/sla_sl_1935/8 This Book is brought to you for free and open access by the Special Libraries, 1930s at SJSU ScholarWorks. It has been accepted for inclusion in Special Libraries, 1935 by an authorized administrator of SJSU ScholarWorks. For more information, please contact [email protected]. Olhc~alOrgan' of the Special L~brarresAssooatron SPECIAL LIBRARIES "Putting Knowlodge to Work" Reference Work itr Barrkilrg Practice -Mary Pierson McLean ...223 Special Library Suruey I~st/ra?zceLibraries, by the Instlrume Group ..........228 Outgoing Mail ......................... 2 3 3 President's Page ......................... 2 3 5 Special Libraries Associatiolr and Busilless and Professional Workers- Hilda P. Albaugh 236 Publications of Special Interest ..................238 Duplicate Exchange List .....................240 Indexed in Industrial Arts Index and Public Affairs Information Service OCTOBER 1935 VOLUME 96 NUMBER 8 14 SPECIAL LIBRARIES MARIANC. MANLEY,Editor OCTOBER, 1.935 Vdurne 26 +. + + Number. 8 Reference Work in Banking Practice By Mary Pierson McLean LIBRARIAN,AUEPICAN BANKERS ASSOCIATION NY bank which includes a library in its ments. It is quite probable, however, that if A general set-up hopes that ultimately one could examine the library of 1907, one mme kind of profit will be derived therefrom. would hnd that the bank library of today had Whether this hope is realized, however, de- diverged in many directions, and that about pends largely on the type of service rendered. the only point it has in common with its A beautiful reading room, a fine set of volumes predecessor aside from general purpose is that on financial subjects, and the most approved what the librarian today considers a mere library methods are a dead letter unless the nucleus of a working department such as a set librarian is well acquainted with the work in of the Chronick, standard investment manuals which her organization is engaged and knows and texts on money, banking and economics, her collection thoroughly enough to supply to her earlier sister also possessed. executive, staff or customer as promptly a. The problem of the early bank library was pomible accurate information in a form which to gather unto itdf material hitherto scat- can be readily adapted. To go a step further, a tered through the bank, and to collect in true value of a bank library lies in the ability addition valuable historical data and as many of the librarian to vouchsafe not only the ex- bwks as possible on banking and finance. pected anewer to a specific question, but to Today the problem is one of selecting from a uncover for her client new avenues of approach vast mass of valuable material those reference and point out to him new sources which may be tools which the particular bank is likely to tapped. In short, the successful functioning of need. The community in which it is located, such a department devolves upon various the work in which it is engaged and the cus- abilities of the librarian in charge, such as her tomers it serves are the determining factors of capability of seeing a problem through her this selection. While the early library was more client's eyes, a lively imagination, a passion for intent on obtaining historical material, the sleuthing, an insatiable desire to know more good bank library today lays special emphasis about every subject under thesun, and last but on current data. To it books are usu'ally sec- not least, her ability toapply her well-grounded ondary, for the information in them is seldom knowledge of the subject and general affairs to as fresh as that which can be found in current the problem at hand. financial periodicals and newspaprs. The When one realizes that the bank library pamphlet, too, haslargely superseded the book, idea had its inception in the early years of this for it is usually hot off the press and can be century when the banking field was by no discarded without a qualm when it is outdated. means as complicated as it is today, it is not Even surpassing these in importance, however, surprising in this third year of the New Deal to are scraps of informationwhich are not yet and find that as many as 70 of our banks in the may never be ~rinted.Examples of these are large cities boast centralized reference depaft- confidential reports, addresses and manu- 224 SPECIAL LIBRARIES Clct~ber,1935 scripts. Most valuable of all are the data tion, it is important to consider the best sources gleaned from talking to some person or asso- for locating such data. Few will deny that The ciation which is an authority on a particular Nm York Times with its full and unbiased subject, for such information probably can be general information, full texts of addresses and obtained nowhere else. After such a conversa- reports and excellent financial pages should tion, it is wise to file in the card catalog a card have a place on the shelf. The Wall Street under the subject in question and also one Journal, with its corporation and security under the name of the authority. The reason news, and the Journal of Commerce, with its for this transition of interest to the affairs of commodity pages, are also essential. Finally, the day and even to the forecasting of to- the American Banker, though it is a day or so morrow's trends is that there is probably no late with current events, is invaluable for in- institution in the country which has been more timate details of individual bankers and com- profoundly influenced by the events of this plete state banking news. Next best to the century and particularly the last six years than daily newspapers are various financial periodi- the bank, and the banker who wishes his insti- cals such as Bankers Magazine, Banking, The tution to live, at last realizes that new ideas, Annalist, Burrouglrs Clearing House, Bankers' new methods, and new information are essen- Monthly, and Barron's. The Commercial & Fi- tial if this is to be. It is to correct the wide- nancial Chronuk needs no introduction, for spread erroneous impression that banks are since 1865 it has carried the most complete ruthless and bankers mere moneychangers weekly account of all commercial and financial that bankers are today devoting such energy to events. Probably the best sources for foreign showing in their statements "more than the financial news are The London Economist and law requires," to advertising that credit will The Statist, and the foreign bank letters. never be denied a worthy prospect and to dis- Added to this list are the valuable group of seminating by means of radio and print mes- government publications such as the Federal sages which aim to educate the public on bank- Resem Bulkfin, Survey of Current Business, ing. Then, too, the public relations field in and all Treasury reports, the journals of uni- banking has expanded to include customer versity business schools such as The Journal of relations. Even more important, however, is Business of the University of Chicago, and vari- the current campaign for better management ous business reviews of banks and chambers of and a better qualified personnel. Again the commerce. In order that these publications government invasion of the banking field is a may be of the utmost value, they should be moot question. Obviously, the library has had checked in immediately on arrival, scanned by to keep one step ahead of these trends in order the librarian not only for important articles, to furnish information, with the result that but also for a notice of some other report or subject-headings have leapt in number almost publication of which she is unaware and might beyond recognition. They have, of course, wish to order, and routed to the various offi- steadily increased as the banking field has be- cials who have interest in them. Even before come more complex and extended its tentacles they leave the library, however, the important into other fields, and as new legislation has articles should be recorded in some way. Those been enacted, but the past two years have publications which are of permanent value and witnessed the birth of another huge crop, are to be bound should be indexed under sub- FDIC, FCA, RFC, AAA, which have had to ject in the card catalog. If the author is an be given shelter, and along with these came a authority, it should also be indexed under his need for further subdivision of many subjects. name. Those publications which are not to be Due to this great expansion in the limited bound but are of enough value to keep on the space which many bank libraries have, it has shelf for two or three years should be indexed become necessary to limit the material on each either in the catalog or cross-referenced in the subject to the very best which can be procured subject files. Those which contain only one or and to rely on other libraries to fill in the gaps. two items of interest should be clipped, the Since the emphasis in a bank library is placed articles filed under subject and the magazine an current rather than on historical informa- discarded.
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