The Washington times., 1926-03-24
BANKING ESSAY
PRIZE READY
By RICHARD HATTON

The announcement of the subject
Tor the prize essay contest con.
Quoted annually by the District OF
Columbia Bankers Association. has
once more created great interest
in junior banking circles. This
annual contest has been marked
with wonderful success IN the past
and, beyond a doubt, according to
older bankers, it has brought out
many constructive thoughts, if not
actual suggestions, the adoption Of
which have contributed to the bet
terment of banking practice.
The subject for the essays this
year is considered one which will
draw the interest OF more than the
usual number of contestants and
which is capable of the broadest
handling
President r. Jesse CLANCY, OF
the Washington Chapter OF the
preparing information regarding
the contest which would shortly be
sent to each member OF his organi.
zation. Judges for the contest viii
be named by President Francis q.
Addison, Of the District of Co
lumbia Bankers Association, and
the date set upon which essays
must be in the hands Of the COM
mittee in charge of the contest.
As was the case last year. those
entrants submitting the three best
essays In the opinion of the judges
win be rewarded by the Bankers
Association with a Trip to the
annual convention in June, where
the association.
This is the fifth year in which
the contest has been held and the
impression prevails in banking
circles that the number Of entries
viii be larger than ever before due,
in part, to the increasing interest
among the banking profession in
the great benefits being derived
through the educational work NJ the
American Institute of Banking with
which the essay contest is directly
In line.
Federal Reserve Changes
Twelve banks joined the Federal
Reserve System during 1925 in the
Fifth district. according to the an
nual report of the Richmond bank.
but 20 members were lost through
liquidations or mergers, a net de-
cline in membership of IL banks.
At the end of 1925 there were
607 member banks in the district.
OF which $50 were national banks
and 81 were State bank members.
The 81 State bank members had
SO branches at the end OF the year.
Increased capital and surplus, with
the new member banks, added A.
532 shares OF stock Of tie reserve
bank to the members holdings
during 1925, while foundations.
mergers and withdrawals deducted
2,677 shares. q net gain Of ,855
shares during the year On De-
cember 81. 1926, the shares in this
bank owned BY member banks num-
bered lie $50. as compared with
III. 995 shares SO held on December
81. 1924. The net increase in the
paid-up capital OF the bank during
1926 was $s2 $50. .
Victor B. Deyber. president of the
Second National Bank. and John
Poole, president Of the Federal
American National Bank. are the
washington members of the adj
visory committee OF the Federal Re-
serve Bank Of Richmond.
Steel Incomes Large
With all figures for the past
fiscal year in. United States Steel
Corporation had a net income,
after deduction OF depreciation and
sinking fund charges, amounting to
sos. Ash 1854, according to the
z4th annual report Bethlehem
Steel Corporation had net income,
after depreciation and depletion.
amounting to $13,S5S, 1876, as COM
pared with $S,916,1s1 for the year
@. Bryan Pitts. prominent local
financier, has returned from A six
weeks vacation in the South Mr..
Pitts Is chairman of the BOARD Of
directors Of the r. III. Smith Com
pany.