Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-06-19
LACK OF CO. OpERATION HURT
EARLY FIRE INSURANCE FIRMS
Three of First IL Still in Field-Bankers
Convention Went OFF Perfectly-Miss
Winifree Rightly Honored.

J sos. The Firemen'S Insurance Co,
which is still actively in business was
organized by act of Congress, 1897,
and a number of the others in the
':Cs.
The German-American dropped the
first name in late years and is still
in business.
Many of these corporations were
differed and directed by strong f1nan.
cial people but nearly all of them
failed to realize the prevailing idea
in the closing days of the last CEN
tury--to get together, to CONSOLE
date, to merge and prepare for big
business, and as a result the fire In
surance companies of the large cities
invaded the field and cut insurance
rates to point where they could no
longer do business at profit and
were forced to yield. when stronger,
heavier capitalized institutions might
have held the field.
OF these companies the Firemens,
National Union, Corcoran and Ameri.
can are still I'm the field engaged in a
fierce competition for q share in the
business, for the city has grown to
such an extent that the field Is more
attractive than ever.
The Bankers Convention.
The ninth annual convention of the
District Bankers Association won
complete recognition as the best
ever" just as did its eight prede-
cesSors, as the bankers seem to gain
experience in conducting such gather.
ing.
1t is no small task to carry through
such a stupendous proposition to a
successful completion, in such a man.
ner as to avoid the slightest friction
and to please everyone Of the 240.odd
persons In attendance.
The weather man furnished a su-
perior brand-four ideal June days.
Harry V. Haynes, president Of the
Farmers and Mechanics National
Bank voiced his approval of the three
business sessions after this fashion:
II believe that there will be demand
for an early publication of the pro-
ceedings of the convention, for there
were papers read there of vital i'm.
portance to the banking industry"
He particularly commended the ad.
dress by Harry III. Mckee or the Nc.
Fadden act, the paper by f. G.. AID.
olson, jr., on real estate loans and
other matters in realty financing, and
the report of the representative of
the Better Business Bureau as out
standing features in a program that
was so filled with articles Of great val
lie for study and review that selec.
tons were almost superfluous.
Meeting Was Perfect.
From every viewpoint, sports, so.
ciety, misunderstanding was
lacking up to the browning event of all
conventions, the family dinner on Sat.
urday evening; everything was per-
feet.
The spirit of friendship prevailed, the
Intimate social arrangements strength
ened Observation-Disclosures can be no
fierce competition, no satisfaction in
seeing fellow banker a victim Of a
fraud or crook. after such close af-
matchmaking but the friendliest
competition and all against the frauds
and crooks that infest Washington.
Howard Moran passed out of the
picture as president with colors flying,
duly credited with having given the
association splendid service for a full
year, leaving nothing more to be
asked save a promise of continued
service which was cheerfully given.
w. w. Spaid completed his climb
and entered on the presidency, while
X. v. Fleming and w. w. Waller
hicFCA up u poSltlOH Lfl.-L Will Drlng
them in line for 1928 and 1929. AS
predicted, l.. p. McLachlan was
chosen secretary. He presided with
great ability at the family dinner, his
honor as chairman of the convention.
A new Richard entered the lists for
the Hibbs Cup in the person of
Cashier Cox of the Commercial Ma
tional Bank, to the disappointment of
leg winners" of previous conven.
lions.
The election of Miss Mary Winifree
OF the Continental Trust Co. as vice
president of the A. B. A, trust com.
pany section, for the District of Co.
lumbia was a distinct and we'll
deserved honor for an active, real
banking woman.
Miss Mary" as she Is called nv
bankers, has been laboring daily as
secretary of the Continental Trust
Co. since its organization, an intelIi.
gent, capable worker. filling more
than strictly secretarial duties. She
was Former President Nathan n.
SCOTS right and left bowers. and
Wade II. Cooper admits that she has
Deen a very valuable aid to him in
ms strenuous work during the last
He approves of the recognition &C.
CT, 'd61 her ~