Evening star., 1925-11-10

Mr.. Fleming rose to his high position
after having served in all posts from
bank messenger up. He is 81 years
old.
Mr. Fleming also was elected
member Of the board of directors at
the special election meeting Of the
board late Yesterday. George O. Vass.
one of the vice presidents, was elected
vice president and cashier. the posi-
ton held by Mr.. Fleming prior to his
elevation. Charles {. Glover, jr. q
vice president for many years, was
selected as secretary to the board Of
directors.
Native of Washington.
Mr.. Fleming was born in Washing.
ton November 8, 1890, the son Of Col.
Robert |. Fleming, a prominent arch,-
teCt and builder of Washington His
career Is one OF the outstanding
achievements of the younger genrra-
ton in financial circles in the CITY.
Entering the Riggs Bank as a runne'
July !. 1907, he advanced step by step.
becoming cashier on May 90. 1920 One
year later he was elected vice presl-
dent. He is the founder Of the pres
ent system Of settling clearing house
balances, a method whereby payments
in cash are eliminated and settle
fers through reserve accounts in the
Federal Reserve Bank of Richmond
First devised by Mr.. Fleming and en-
bodied in a report on revision Of the
rules and regulations of the Clearing
House Association, the report wa
adopted by the District Of Columbja
Bankers Association. Mr.. Fleming
grew up in the Riggs Bank cotempu-
raneOusly with the development Of the
Federal Reserve system and the in
come tax law, with both Of which he
has become very familiar.
When Charles c. Glover retIred
from the presidency of the bank on
June 13. 1921, after 80 years at the
head Of the institution. to be succeeded
by the late Mr.. Allies, Mr.. Fleming
was elected vice president and cashier
Both Mr.. Glover and Mr.. Allies are
declared to have groomed Mr.. Fleming
for the presidency.
Active in Association.
Mr.. Fleming has always played an
active part in the affairs Of the Dis
trict Bankers Association. He con
Quoted the symposium" or technical
banking discussion at the 1920 conven-
ton, was the chairman of the program
committee at the 1923 convention
chairman of the general convention
committee at White Sulphur Springs
last year and at the convention at
Hot Springs, Va, last June, was
elected secretary of the Bankers As
sociation. which by custom, leads TO
the presidency.
Mr.. Fleming married Miss Alice
Wright. daughter of Judge Daniel
Thew Wright. on November 2T. 1912
They have two Children-AliCe Marie
10 years old, and Robert Wright. :
years old.
Mr.. Fleming is a member of the
board of trustees of the Corcoran Art
Gallery, and its treasurer and is also
a member Of the Metropolitan, CHEVY
Chase, National Press Congressional
Country and Burning Tree clubs, the
Blue Ridge Rod and Gun Club. and
Temple-Noyes Lodge, T. A. A NJ.
Eass Came TO Bank in 1903.
Mr.. Eass became associated with
the Riggs Bank in 1903 as secretary
TO Mr.. Allies, then vice president. In
January, 1919, he was elected assist
ant cashier to fill the vacancy caused
by the resignation of Harry Y. Haynes,
who left the bank to become pres!-
dent Of the Farmers and Mechanics
National Bank. In January. 1922. he
was elected a vice president, and in
January, 1928, was elected vice pres
Mr.. Nass was born at Santa Cruz.
Calf, in 1880, and came TO Wash
ington TO take the law course at Co
/, lumbar. now George Washington mi
versity. He graduated from the Law
School in 1902 and was admitted to
the District of Columbia bar the same
year. He married Miss Edith VI.
Branson of Washington in 1920. They
have two children. Mr.. Nass IS a
member of the National Press Club
and the Washington Golf and Coun-
try Club and is also a member of
Temple Noyes Lodge, F. a. y. NJ.
Railway Common Holds at 225.
Trading on the Washington Stock
Exchange was again very interesting
today. Washington Railway & EleC
trio common stock maintained its sen
Sational advance and sold al 225, with
quite a generous turnover Of the
stock The new Potomac Electric
Power preferred issue sold up to l04
today, having gained quarter of a
point since yesterday. Capital Trac-
ton opened at 1887. but came down
an eighth of a point on later sales.
Lanston Monotype came out at S5l4
and later sold at S5i2.
Resources Nearby Five Billion.
Combined resources of the National
banks of the United States are ap-
preaching the twenty-five -billion-dol-
lar mark.
A statement of the banks condi-
ton September %, issued today by
Controller Mcintosh of the cur
rency, showed aggregate resources
Of the S.0S5 National banks at So
569, ,527 900.
Total resources are nearly one
and one-quarter billion dollars great
er than a year ago and are S2lS,-
664 .0O0 greater than in June.
The deposits of the banks reported
Septerlber 2S. We're $19.93O,062,O 600.
exceeding by $20,393,000 the amount
on deposit in June.
Loans and discounts amounted to
$13.134, ,461 600.
Finds Ii. & o. in Fine Shape.
After completing a tour of inspec-
ton of the Baltimore and Ohio Raii-
road. Of which he is a director, John
Norron, president of the Atlas Port
land Cement Co., said that the prop
erty never was in better condition
and doubted whether any other road
had shown a greater degree OF i'm
proyement in the last 10 years. When
the line from Cincinnati to Toledo
was acquired, he said, the directors
thought 1t adFlSaDle 10 write Oh 9Io'
0OO, 900 of its cost, but today 1t is
the largest division in volume of
traffic, and if the full original cost
were offered for the property, he de
clared he would against it.
Would Cut Freight Damage.
An intensive campaign wiz a View
of bringing about still further reduc
tions in loss and damage to freight
shipments resulting from rough han.
e IL ,r,n.c Ina