Evening star., 1927-05-28
BANKERS SELECT
Winning ESSAY|STS.
H..T. BisseIIe, Lois White and
A. w. Sherman to Get Hot
Springs Trips.
BY EDWARD G. STONE.

BY EDWARD c. STONE.
| For the second time first place in
| the essay contest conducted by the
| District Bankers Association for am
bilious students in Washington Chap
! ter, American Institute of Banking,
has been awarded to Fl. r. Bissille,
| employed in the credit department of
the Riggs National Bank. Miss Lois
A. White of the Federal-American Ma
tional carried off second honors, while
A.. w. Sherman of the American Sc
curity & Trust Co. came in third. The
winner of these three prizes are to be
rewarded by their banks with a free
trip to the District bankers conven-
ton at Hot Springs, and at that time
will read their papers at one of the
convention sessions.
The hOnOrS were announced late
yesterday by the judges-George w.
White. president of the National Me-
tropolitan Bank; Robert Stunz,
cashier of the Park Savings Bank,
and Frank Stetson, trust officer of the
National Savings & Trust Co. The
subject offered for the contest was,
"The Improved Service to Customers
That Has Been Made Possible by the
Policy of the Service Charge, and the
that has been a very lively issue in
Washington banking circles for some
years. The majority of local banks
now have a service charge when a
depositor'S account gets below a GER
tain figure. Others consider it an un-
desirable practice, refuse to put it on
and claim that their old depositorS
having rather small accounts are
steadily bringing in new ones. There
is always the chance. they said. that
small account will some day be-
come big one.
The losses on small accounts have
been vividly brought to the attention
Of the local bankers at the annual
conventions and some lively discus
sions have followed. The reading of
these winning essays this year will
no doubt arouse new interest in the
subject This years winner, Mr.. Bis
selle, first jumped into the limelight
in 1925 by getting a prize. Miss
White is the first woman to get one
of the three coveted places. She is
president of the Washington Bank
Woman's Club and intensely inter-
ested in the work of the institute. Mr.
Sherman is a graduate of Washington
Chapter, a member of the board of
governors. and brings honors to a
bank which last year claimed two of
the winning contestants.
Monetary Outlook Changes.
Moody's Weekly Review says, in
part: Brokers' loans are expanding
again and will doubtless continue to
do so. When such a movement once
gets started it practically never stops
until it results in over-expansion.
Hence, the main question is how
many weeks or months it may require
to produce such a result.
'The demand for loans from the
banks remains much greater in New
York than in the interior, with the
result that funds are flowing from
the interior to New York, and are
here being used to finance the stock
market expansion.
incidentally, the monetary out.
look has changed. The seasonal de.
cline of interest rates is evidently al
most over, and we may look soon for,
first, hardening of rates, and later
moderate upward trend Money is
likely to rule little. higher this Au.
tumn than it did last" !
Warfield Heavy Stakeholder.
President S. Davies Warfield of the |
Seaboard Air Line is the heaviest
stockholder in the company. accord. !
ing to the last annual report. Mr.. |
Warfield's holdings are considerably
over 100000 shares, although all are
not necessarily carried in his own
name. The Importance of his holdings
in the company is best shown by the |
fact that there are only little more
than 100000 shares of both classes of
Seaboard stock outstanding.
First Convention i'm 1919.
Speaking Of the first convention Of
the District Bankers Association.
President Howard Moran has this to
say: "While the District Bankers AS
sOciation was organized in 1901, it was
not until 1919 that there was intro
duced the plan for holding a conven.
ton out of the city. The idea was
put forward by Maurice D. Rosen-
berg, president of the Bank of Com |
merce and Savings, and as president |
of the association he presided over |
the first convention, June 25 to 26,
1919, at Deer Park, Md.
Many of us today were the pioneers |
who blazed the way and made possible |
what we then believed was an epochal |
event in the banking history of the |
District and which we now know to |
have been so. Year by year these |
gatherings have broadened in scope, |
enhanced in vital subjects considered |
and have borne a prolific fruition of |
accomplishment for the betterment of |
the business of banking"
Urged to Save Insurance.
Life underwriters are urging sup
port Of President Coolidge's proclama- |
ton for the reinstatement of soldiers |
and sailors war risk insurance. Win. |
slow Russell, vice president of the |
Phoenix Mutual, at recent meeting |
said that ex-service men who sacrifice |
these policies should be made to un-
derstand that they are giving up |
something which they never can re!
place at so low a cost. The Veterans
Bureau is ready to render prompt and
efficient assistance in reinstating these
policies.
Heard i'm Financial District.
Robert c. Jones, connected with G.
M. p. Murphy & Co. in the Washing
ton office. has gone to Ocean City,
Md, for the week end.
j. E. Troth, cashier of the Chevy
Chase Savings Bank, has returned
from weeks vacation passed at
Atlantic City.
Ray l.. Schreiner. president Of the
Bank of Brightwood, reports that his
bank now has total resources OF
100000, and that the bank has
gained $4,000 in deposits since last
December
Wade II. Cooper. president of the
address at Lincoln Memorial Unfver'
sity, Cumberland Gap, Tenn. Mon
day, the special occasion being the
dedication of new building,