Evening star., 1926-06-18
EXPANSION SEEN
IN D. c. BANK WORK
G. ]. Seay, Reserve Bank
Governor, Cites Increase in
Capital Deposits.
BY EDWARD c. STONE,
staff Correspondent of The star.

HOT SPRINGS. Va. June IS
Marked expansion in the work OF
Washington Chapter, American lnsti-
tute of Banking, was revealed in the
annual report made to the District or
Columbia Bankers Association at to-
days convention session. TWO other
special features were an able address
by George i. Seay. governor of the
Federal Reserve Bank at Richmond,
and the report of the association $
protective committee made by Harry
V. HAYNES chairman of the commit
tee
Coy. Seay spoke mainly on "credit
expansion but took occasion TO men
tion the Strong bill now before Con
cress. which calls for an amendment
to the Federal reserve act, one OF It's
aims being to bring about greater
stabiliZation of prices.
The head of the Richmond Federal
Reserve Bank considers the measure
too drastic. believing that it would
make the Federal reserve system too
autocratic. He believes that the sta.
hiliza ton of prices must be worked
out by natural laws and expressed
the opinion that it would be danger.
Gus to place the administration OF
such an immense task upon the
shoulders of the Federal reserve sNS-
TENS directors.
Mrs Seay also noted the great in
etease in deposits by the Washington
ha inks. which are members OF the
Richmond Reserve Bank.
Nine Courses Offered.
Past President r. Jesse Chaney
summed up the work of the institute
chapter. stating that courses OF -
lectures and / course of Il lectures
We're offered during the year, in all
2S6 sessions. totaling $50 hours. This
means that students in the bankers
= university" were given far more in
struction than in any previous year.
The enrolment reached 463 cases and
500 presented themselves for final ex-
en1inations.
Credit for the splendid showing was
given to the experienced faculty and
to the educational committee. Mr..
CLANCY urged Washington bank Off
Gals to give even more support to the
work next year, and added that the
records for the past year showed that
six Washington banks did not have
member enrolled in any of the nine
classes. One of these institutions has
- officers and employees and an
other 33
After Gov. Seay's speech, the win
ners of the recent essay contest read
their papers on the general theme of
the best ways to improve banking
systems or practices. President Addi.
son led lively discussion on the mer-
its Of their suggestion.
Bell Heads Committee.
President Addison has appointed
Charles j. Bell president of the
American Security and Trust Co.
chairman of the committee on reso-
tions. the other members being Harry
x,f@ t,o
and Mechanics National Bank: Fred
erick f. Harrington. president Chevy
Chase Bank and Lanier r. McI.ach
len, president Of the McLachlen Bank
ing Corporation.
Victor g. Deyber president Of the
Second National Bank. was named
chairman of the nominating commit
tee while the other members are:
l.. 4. Slaughter. vice president Com
mercial National Bank: Charles c.
LambOrn. National Savings and Trust
Co.; John NJ. Riordou, Bank of Com
merCe and Savings. and Y. r. Booker.
jr. of Crane. Paris & Co.
Golf and tennis tournaments are
under way. The first outdoor event
of the convention took place on the
Homestead Hotel veranda. when How
ard Moran won the top spinning con
test for the second time. the r.. r.
Mclean cup being the prize. He was
forced to play off a tie with 3. 4.
RowleS. vice president of the Potomac
Savings Bank. I, \. F'leminC's top
outdiStanced all the others. but was
a much higher class top than those
furnished the contestants by the com
mittee. Todays special events for
ladies include a luncheon at the Cas-
cadeS Golf cub. followed by a bridge
party.
Wins Essay Prize.
l.. r. Savage. employed by the
American Security and Trust Co. read
the essay which won first prize in the
contest. Among other suggestions he
said that banks should no longer use
the old system of keeping property
records in ledeers and should adopt
the card system, banks should keep
more complete records regarding
stocks and bonds in which their Gus
toners are specially interested. they
might make greater efforts to get new
customers by more courteous treat
ment Of customers. by billboard adver-
tising and by direct appeals through
the mail.
The banker believing that "knowl-
edge is power" should encouragS all
the clerks in his institution 10 at
tend the American Institute of Bank
ing he suggested. He urged the adop
ton of tandard sized checks. the ad-
vantage being in simplifying the work
of the tellers and bookkeepers. The
Young man suggested various econ
omies in the use of stationery. He
believes that clubs among a banks
employees result in greater efficiency
and goodwill. One of his best sug
gestions was that every bank should
have a sufficient number Of tellers so
that customers would not be kept
standing in line indefinitely.
Frank NJ. Perley. who is also an
employ OF the American Security and
Trust Co. was next to read an essay.
his effort having captured second
prize In the contest. Mr.. Perley men
toned the great accomplishments in