The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1925-09-24
BANKERS BODY
FIFTY YEARS
Of ACE
About Dozen D: C. Financiers
Will Take Part in CeIe-
bration at Convention
By RICHARD HATTON

A number of the leading bankers
or Washington are preparing to at
tend the annual convention of the
american Bankers Association
which will be held at Atlantic City
from September % to October 1 and
which will mark the fiftieth year
of the organization.
Pointing out that American bank
ing resources have grown in the
last fifty years from $4,000, 900 900
to over $50, 900, 000, 900, William E.
Knox, president of the American
Bankers Association, in q call to
the membership to attend its an
nual convention, declared that the
present meeting. which will mark
the completion of the organization's
first half century, will constitute
an outstanding event in American
business history.
when a business celebrates it's
growth from resources of $3,000,-
100000 to over 100000 600, 900 in
fifty years it certainly is an event
OF great public significance in
American history" Mr.. Knox says
This years convention of your
association at Atlantic City will
constitute just such an event.
The American Bankers Associa-
ton was organized in 1875 when
there were about 5000 banks in the
country, with aggregate capital and
surplus of $3.50 900 900 and deposits
below $4,000, 600, 900.
Today there are about 10000
banks, with capital funds of $1,000
NO0O, 600 and deposits above $50,000,-
100000. More than $4,000 Of these
tanks are members of your associa-
ion.
''The convon+io,, s;oroI;,;,-x +lo
Phalf century mark will be made
the occasion for reviewing the pro-
gress OF banking and the services
It has rendered the people of the
United States.
"a practical token of this will be
given the public in the form of q
proposed educational fundation TO
maintain college scholarships in
economics and to promote economic
research.
Banking serves itself best by
serving others and the more
economic-minded it helps our people
to become, the firmer will it build
the foundations of its own pros
perity. = :.
Another great opportunity will
present itself at this convention
for organized banking to render
significant public service.
THE present period is particu-
larly opportune to support the ad-
ministration in it's economic pro-
gram. Such questions as economy
IN public. expenditure and scientific
tax revision can be discussed on
their intrinsic merits without the
confusing factors of campaign par
tisanship and radical agitation.
The public spirited interest of
bankers in these questions can now
be made more clearly understood
land influentially urged"
Among the Washington financiers
who will be present at the conven-
ton are: Francis G. Addison, presi-
dent Of the District of Columbia
Bankers Association; William w.
Spaid, Harry v. Haynes, Howard
Evans, jr., who is a member of the
executive committee and the admin
tstrative council of the A. B. A:
3. F. Saul. Peter A. Drury, Joseph
Schiavone, Lanier P. McLachlen
and John NJ. Riordan, who has been
delegated by the District Of Column
bia bankers as their representative
on the committee which will select
nominees for the offices OF presi
dent and first and second vice
presidents of the American Bankers
Association.
A comprehensive program has
been arranged for the convention,
including special sessions of the
savings bank division, the national
bank division. the clearing house
section. the trust company division
the State secretaries section, the
State bank division and auditors
and comptrollers in all of which the
Washington representatives will
nfake q nrnnninpnf mart