Evening star., 1926-06-04
BANK CONVENTION
PLANS COMPLETED
Merle Thorpe and G.'J. Seay
to Speak at Hot Springs
Meeting This Month.
BY EDWARD c. STONE.


Francis T. Addison. sr.. president ol
the association, will preside at the
opening session. Howard Moran. f1rs'
vice president, will officiate at the ser
ond session, and it is the duty OF the
second vice president. who happens to
be Mr. Spaid, to take charge Of the
third days meeting. Reports toucn
ing every phase Of the association
work will be made. and the session
will. OF course. wind UP with the eiec-
tion Of officers for next year.
An announcement OF special intere
made by L1anier P. McLachlen. chair
man of the program committee Is
that the leading speakers will be Meri~
Thorpe. editor of the Nations Busl.
ness, and George j. Seay, governor ot
the Federal Reserve Bank at Rich
mond. Mr.. Thorpe Is known as a. bril-
liant speaker and has met with great
success while in charge Of the publ.
cation brought out by the United
States Chamber of Commerce. Gov
Seay is in the closest possible touch
with financial conditions in this. re
serve district, and is sure to intefes'
and instruct his hearers. II Is con
sidered that the committee has peer
particularly happy in the selection NJ
these two speakers.
Further announcements VIII ne
made at once in regard to all the OUT
door sports. as we'll as the social ac-
tivities which have been planned 4
record attendance is already assured
by the advance reservations.
Local Securities Active.
Trading was active and varied on
he Washington Stock Exchange 10
day, several issues scoring advances.
Washington Railway and Electric
preferred opened at SS7s and advanced
10 S914. Peoples Drug stores
preferred which gained half pOin
yesterday. gained a full point today.
three transfers involving c5 shares
going at 1O4. new high since the
stock was listed locally.
Four transactions were recorded In
Capital Traction stock. so shares
changing hands at 1857. Potomac
Electric Power preferred came out Al
107; and 10 shares of Union Trust
Co. stock sold at 225. Both issues or
the Merchants Transfer and Storage
Co. were unusually active. Twenty
shares of the common brought 115.
| while 35 shares Of preferred sold at
par.
Washington Gas SIS held the spot -
| light in the bond division. the first
| transa ction bringing l04L. the next
one 1041a and small sale at the
close 1921.
Miller Control in New Deal.
IT is announced that the General
! Railway Signal Co. has acquired the
right. under license. TO manufacture
and sell the automatic train" control
systems and train stop devices of the
Miller Train Control Corporation lin
the United states. east of the Rocky
Mountains. and Ca NADIA. with the ex
ception of the Chicago & Eastern
Illinois Railway and the Elgin. joliet
Eastern Railway and the Toledo
Detroit division of the New York
Central Railroad as contracts for
these particular roads and divisions
had already been given 10 the Miller
company.
w. w. Salmon. president Of the Cen
eral Railway Signal Co. stated today
that in the acquisition Of the we'll and
favorably known Miller devices the
General Co. would enlarge it's scope
of activities and would promote the
standardization Of train control de
vices and thus result in providing for
the railroads the last word In efficiency
and desirability of the intermittent
type of train control.
Mr.. Salmon added that the Miller
Train Control Corporation is the old.
est existing company which special
ICES in train control work. having
made its first installation on the Chi
cago and Eastern Illinois Railway In
1911.
Stock of the Miller Train Control
Corporation is widely held in Wash
ington and shareholders here were
greatly pleased to learn today that the
company had Joined forces with such
a powerful concern as General Rail-
way Signal. The stock was quoted In
the unlisted department Of the Wash
ington Stock Exchange today at $1.25
bid and So asked.
Banker to Entertain Entire StaR.
Edward J. StelIwag gen. president Of
the Union Trust Co.. will entertain all
the employees of the bank. and, their
wives and children, at his Summer
place. The Oaks. on West River, over
the week end. This outing has heer,
made an annual event and. Is always
looked forward to with keen delight
by the banks entire staff. The, party
will leave the bank after closing hours
tomorrow noon, those not going in pri
vate autos taking a large motor bus.
There will be about 125 in the party,
although the children do not join the
gathering until Sunday morning.
After greeting his guests Mr.. Stell-
wagen will turn over the duties Of
host to Edward L. Hillyer, one OF the
banks vice presidents. who in turn
will offer the. visitors the freedom ,of
the resort as well as Of West River.
Birckhead Bank President at 40.
Oliver w. Birckhead. who was born
and reared in Washington. has just
been elected president OF the Murray
Hill Trust Co. In New York. He is'
only 40, which makes him the yotlra+'
est bank president In Gotham. -e For,
the last three years he has been WITH
the Hartman National Bank. He~was
secretary to Franklin McVeigh' whe n.
1.-THE latter was Secretary Of the Treas
ury. Birckhead was also in the Office
of the Controller of the Currency and
at one time was a national bank ex:'
aminer.
Various Personal Items. -.
Frank w. Stone. vice president rfs
1.-the National Savings and Trust Co. :.
will leave Washington next week for,
q three.week vacation. He will take;
an extended motor trip up the coast
to Boston, on to Portland. and through
Maine to Canada. making stops at
Montreal. Ottawa and probably visit.
ing Toronto. -
Jacob Scharf. vice president Of the"
Second National Bank. Is one Of tfTp
first local bankers to have completed
his vacation. IIe has returned to his
desk after two.week stay at hfs.
farm near Rockville.
Joseph D. Yerkes. assistant cashier
of the Federal-American National
Bank. Is away on his vacation. He
Is taking an extended motor trip
through the Northeastern section or
the country.
William d. Hoover, president OF the
National Savings and Trust Co, will
be back at his desk Monday after a'
few days vacation passed with refa.F