Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-06-27
BETTER BUSINESS BUREAU SAVES
LARGE SUMS FOR INVESTORS
Director Rotllschilds Report Reveals New Protective
Measures-Local Exchange Becomes Member of
New observation-disclosures Items of interest

of the governing committee VINO WIN
serve until the 1927 meeting: Elph
w. Simonds, Detroit. president; W. W.
| Louderman. st. Louis, vice president;
Clark c. Mickey, Detroit. secretary
| treasurer: governing committee, term
expiring in October. w. r, Fox. On
cinnati. and b. Preston Schoyer,
| Pittsburgh; term expiring 1921, E.d-
mund Glenny. New Orleans, ana Eu-
gene +. Thompson. Washington.
The aims of the new association
are to promote the general welfare
and influence of stock exchanges,
broaden activities. standardlZe metn-
DDS of handling securities, coordinate
efforts in protecting the public against
losses by fraud and safeguard tradlns
members The OrganlZatlon was
started to help exchanges outside OF
New York, and Mr.. Thompson states
Thar the delegates were especially
clad to have such important eA-
changes as those in Boston, Phlia-
delphia. Baltimore and st. Louis
among those represented
Local and Other Notes.
The sudden death of AieAahoer
Britton was especially shocking 10 the
washington bankers who attenoeo
the recent convention at Hot Springs.
He motored to the Virginia resort
and was seen several times on the
golf links. apparently in eXceiieht
health. His death is a distinct loss
n the board of directors OF the req
aroI.Amarican National Bank, OF
which he was an honored menpet'
= n. p. Siddons of the American
Security and Trust Co. ana l. nun,
ton Leith of the Security SAVINGS anu
Commercial Bank report liat ny
short convention OF hnahclai auNT
Users, held a few days ago III .hiia
delphia. was a great success. N( "a
naw ideas on advertising were al
vanced They report that the expo
sition is still far from complexion SO
far as buildings and exhibits are CON
cerned. ..or.l
sherman Allen, who is personal
friend of many Washington bankers
has been appointed trust ofncef OIL TIC
National City Bank in New YORK, &C
cording to information received mere
Yesterday by Riggs bank onlcals'
The consolidated statement Oh coll
dition of the Federal Reserve bdIih9
on lime %, made public by the Fed-
eraI Reserve Board. shows decline
for. the week of $35. 800, 900 in member
hank reserve deposits and of $500
900 in Federal Reserve note clrcula-
ton. and an increase of $11 200 900 IN
ash reserves, with practically no
change in total holdings of bills ana
securities.
For the first three weeks OF June
the volume of check payments, an IN
dex of business activity. was more
than 4 per cent ahead Of last year,
says the Department of Commerce in
its weekly statement. In the third
week of June the volume was greater
than in either the preceding week or
the corresponding period of 1929. ON
the other hand, building contracts in
the third week of June, and for the
first three weeks of the month,
showed decline from the CORE
spending periods of 1928.
Local bankers are becoming more
and more concerned over the passage
of the McF'adden banking bill during
the present session of Congress. The
conferees are said to be far apart in
their views as the adjournment date
comes on apace. Every days delay
pleases the minority opponents.
Merle Thorpe humorouSly remarked
the other day that there are just 10
commissions now in eXiStance in
Washington. The biggest job of ali
is how to make them permanent" he
facetiously remarked