Evening star., 1924-01-29
DISTRICT BANKERS :
MAY HOLD DINNER
Plan Not Yet Dropped.
War on Branch Banks in
City to Be Continued.

The question OF the usual Distric.
Bankers Association dinner this year
is not, as Is generally thought, gus
pended issue, but. on the other hand,
a possibility. Harry v. Haynes. presi.
dent Of the association, said this
morning. -.
The convention of the Investment
Bankers Association, held In this city
Last October, made huge inroads on
the treasures OF the various banking
institutions, which were called upon
to help finance the convention, and
for this reason 1t was believed in
many quarters that the yearly ban
quet of District bankers would bo
omitted. Not So" says Mr.. Haynes,
council of administration with the
view Of discussing the adyisability
OF holding the affair.
Admission Of the Potomac Joint
Ssock s Land Bank to membership In
up at this meeting.
VIII Press Bank Eight.
Francis 81 Savage, president Of the
Northwest Savings Bank. and Wash
ingtons leading opponent of branch
banking. today authorized the fol 4
Courts decision anent the subject.
handed down yesterday: -. =.
I'VE do not believe the purpose OF
the Millspaugh bill was to authorize
the District; and we have every rea-
son to believe that Controller Of the
Currency. Dawes agrees with US.
MT. Mtliepaugh states no euch right
Vas va, intended: The proponsnt Of the
Senate and House banking commit
tees and members of the DIstric.
committee do not coneede such au-
Every EFFORT viii therefore be con-
tinued to compel the closing OF the
branches Of national banks recently
Opened ia the District and bring
about a compliance with the decision
banking. Such should be done Tor
the common. good"
t It should be stated that "branches
of national banks" above referred
to- were opened under authority o.
the Aillspaugh measure, which gavo
to the controller OF the currency en-
tire supervision over. District bank
ing anairs and are thus held immune
from the Supreme Court decision.
F. Exchange Trading Quiet.
Today's session on the washineten
Stock Exchange was quiet and fea-
tureless. Riggs Bank continued TO
firm at 159h. thirty shares selling
at this figure Railway preferred
was on. slightly, 100 shares selling
at 10. . -.
On the investment side of the mar
ket, Capital Traction SIS sold at 96ss,
downward to half. and Washington
Gas IS OF 1888 brought par and :.
half.
. Bank Obligations Reduced.
Six months ago 7I2 leading member
oanks owed reserve institutions $52S,-
$4,000. They now owe S2e42glooo.
or not much more than half the orig.
inal total While member banks have
reduced borrowing at federal reserve
banks they have increased their loans
and discounts to clients s1l4GGa. .oOn,
so that, whereas six months ago these
banks were borrowing $500 to each
nents. they are now borrowing only
$1.70 to each 800.
Banking Institute Plans.
Tomorrow night the law class OF
Washington Chapter, American In
stitute of Banking, will hold an open
meeting, to which all institute menu
bers arc invited. Entertainment
dancing and Refreshments, will Be ia
,cluded In the program, which starts
at o'clock. with. reception at, $50
Eliot II. Thomson. publicity nap-
ager OF washington Loan and Trust
Company. will lecture to the eIe-
-mentary c-ass tonight on Elements
of Contracts. Thursday night F. ].
Donohue will conduct A review of the
subjects which the economics class
has covered this year, in preparation
will take place Thursday. February
q. and Carl ". StarkIoff will tail,
to the credits class Friday night OH
Handling the Borrowing Account"