Evening star., 1922-05-25
amendments TO
NATIONAL BANK ACT
Reserve Boards, Perpetual
Charter and "CaIIs" Affect
ed-Bonds Are Firm.
BY I. A. FLEMING.

The bill giving a national bank per-
petual charter. until dissolved by
the act Of its shareholders owning
two-thfrds Of the stock, unless its
franchise shall become forfeited by
reason Of violation Of law or unless
1t Shall be terminated by act of Con-
gress hereinafter enacted" has
passed the House.
The bill now goes to the Senate,
where early action is looked for.
Both houses of Congress have act
ed on Senate roll 2263, commonly
known as the bill to place a farmer
on the Federal Reserve Board.
IL carried amendments to section
10 OF the federal reserve act, increas-
ing the number of members of the
board from five to six, adding the
words financial" and agriculture"
to the clause directing that in max
President should have due regard
to fair representation of the differ
ent commercial. industrial and geo
graphic divisions of the country.
striking out the language, "at least
Two shall be persons experienced in
banking and finance" and providing
that no federal reserve bank should
erect any building costing in excess
OF $25o,O00 without the consent ot
Congress
The House committee offered an
amendment striking out the addi-
tioioi CiduS6 dnO the re-
stricpons on reserve bank building
costs.
The House voted down the amend
ment and also one including Labor"
as one of the divisions TO be duly re
garded. The measure is in the
Presidents hands.
While in the humor, it is believed
Congress will enact the bill p-ovid-
ing for three calls from the oTfice Of
the controller of the currency in any
one calendar year. and perhaps, ex-
tend the life of the War Finance Cor
poration.
Advertising Clubs Of the World.
The Milwaukee advertising conven-
ton of the Associated Advertising
Clubs of the World, June IL 10 -.
promises to be of great value
There will be three sessions of the
Financial Advertisers Association
Monday and Tuesday, June IL and
IL. The subjects to be considered are
Relation OF Advertising to the Or
ganization and New Business Depart
ment, Institutional Advertising in
Its Relation to Influence on Depart
ments," Outdoor Window Displays
and Cards" Booklets" Direct Per
sonal Solicitation" What an Ad-
vertising Man Should Know" Gen
erai Trust Company Advertising"
willis and Lawyers" Investment
Value of Persistent Trust Advertis-
ing" this to be handled by Alfred
Fiather. assistant 10 the president u
the American Security and Trust
Company.
Other topics are Formal Notices
of Security Issues" DO Investment
Bankers owe the Public the Duty OF
Warning or Educating Against
Fraud" Should a Savings Bank
| Have an investment Department
Advice of Financial Editors on In
vestments," Good Will Advertising
and Nuisance" Small Checking Ac-
counts" Service in support of Ad-
vertising," What Should Not Be
Told"
1t is unfortunate that the date of
this publicity convention should con-
fict with the dates of the District
convention, else a fair representation
might be expected to make the trip.
Some of the topics would make eN-
cellent subjects for presentation be-
fore the local bankers at Hot Springs.
AS it is they will have to take what
Information is available second hand.
1t would mean much to bank adver-
tising should two or three hundred
bankers sit through the sessions at
Milwaukee.
Local Securities
A few bonds sold on todays short ses-
sion of the local exchange, but the stock
list was held so firmly as to prevent
trades. unless buyers raise their bids
, or sellers are willing to give some con-
cessionS.
Sales were made at s3s. for Gas S.
100 for Potomac general 6s. 1901 for
Potomac debenture 6s and s6n for
Potomac Electric consolidated IS.
Committees Appointed.
| Presdent-elect w. A. Dexter of the
Washington Chapter A. ]. B. has named
w. ]. Waller as chairman of the ways
! and means committee E. J. McQuade
chairman of the House committee and
Charles d. Boyer chairman of the edu-
cational committee.
James A. Soper heads the audit com
mittee, p. NJ. Garnett will look after
recruits and Frank G. Addison, jr., will
/ conduct forum meetings.