The Washington times., 1926-10-09
BANKERS VO 7 T
ON CHANGE
BY RICHARD HATTON


District of Columbia Bankers AS
ISOLATION, which will be held Octc
Der IS, will be one of the mos
important sessions since the annua
convention of last June, 1t is stated
A number of matters Of especia
interest will come before the mem
berS with. possibly, the creates
Importance attaching to the proposes
amendment to the constitution @
the association relating to its OF
ficers which was discussed at TIL
June meeting at Hot Springs and il
now up for final vote. The pro
posed amendment Is as follows:
Amend Article II, Section 1 o
the Constitution by striking on
the entire Section and inserting the
following:
SECTION 1. The officers of thi:
association shall be president, {
first vice president, a second vice
president, a secretary, an assistant
secretary, a treasurer, and a coun
Gil of administration.
"The council Of administration
shall embrace all Of the elective of
ficers of the association. together
with four members to be also elected
annually at the annual meeting OF
the association; the council shall also
embrace two eX-officio members
namely; the member of the eXecu
tive council of the American Bank
ers Association and the immediate
past president Of the District OF
Columbia Bankers Association.
"All officers except the assistant
secretary shall be nominated and
elected by ballot annually, and they
shall continue in office until their
successors are elected and qualified.
In the event that election does not
result on the first ballot. the two
candidates receiving the highest
votes shall then become the only
nominees.
1.-The council of administration
shall have the power to appoint the
assistant secretary. who may or
may not be a member of the asso-
citation, determine his or her tenure
OF office. define his or her duties
and fix his or her compensation"
According to the Monthly Bulletin
Of the association, plans are being
made to bring to the attention of
member banks the question of CO.
operative advertising of Christmas
Savings Clubs. 1T is stated that
the cooperative plan has been of
value to member banks and that It
has reduced greatly the individual
member bank expense
In connection with the Christmas
80 wrTw A. IL
banks, the following figures are of
interest as indicating the growing
popularity OF this form of saving
and the value of consistent advert, s.
ing. In 1924 there were carried in
Washington banks, members OF the
association. 1885 Christmas saw
lngs accounts amounting to $3,00l.-
473. In 1925 there were sc, 279
Christmas savings accounts amount
Ing to $4,447.741, while in 1926 the
number of accounts had reached
72,128 with deposits Of 1914 ,967.
The current Monthly Bulletin sug-
gests that an effort be made This
year to increase the number of
Christmas savings accounts to
10000, with deposits Of S7000,0 900.
This is quite within the bounds of
possibility, it is believed. because
The public is coming to appreciate
more and more the convenience and
value of this form OF savings.
Executive Vice President Bertram
Chesterman, of the Morris Plan
Bank OF Washington, will he dele
gate at the seventh annual cOnvan-
lion of the Morris eplan banks and
companies, to be held at Asheville,
\. c., October IS, 10 and 90.
Before he became associated with
The Washington Morris Plan Bank,
Mr.. Chesterman was a Virginia
State bank examiner; national
bank examiner in New York city,
and later an executive of the New
York and Boston Morris Plan
Banks, and he is well known among
The bankers and business men OF
his city.
In connection with the conven-
;ion, Mr.. Chesterman said today:
= Our seventh annual convention
will undoubtedly be the largest yet
1eld. There are 107 Morris Pan
Banks and companies with 20
branches operating in 115 cities
They have loaned over $4,000 .00D
bi\C li4C Al 81 DdIIh DGBdH DuSlHGA.S
n Norfolk, Va, in 1910. The public
owns $62 900, 900 in Morris Plan
interest bearing certificates of de
post.
This system of industrial bank
ing has taken its place as an in
:egral part Of the industrial life Of
America. Each year the convention
develops new ideas which project
the service into still greater fields.
This year there will be much in
!erest in a discussion of installment
ouying-the subject being much in
The public mind. Norris plan execu-
lives are particularly interested
since many phases Of this form Of
banking Introduce the installnaent
dea."
Vice President A. c. Waller, of
The International Bank, has re
turned from an extended tour Of
he Middle West and parts Of
Canada
Liverpool Cotton
LIVERPOOL, Oct. Spot cot
ton was in fair demand here today
with prices easier Sales totaled
5000 bales, and receipts 10 900