Evening star., 1927-06-09
BUSINESS ADVANCE
SEEN FOR BANKING
Moran Tells Colleagues of
Opportunity Ahead-Re-
sources lump $4,000, 900.
BY EDWARD C. STONE.

HOT SPRINGS, Va. June 9.-In
his opening address here today,
Howard Moran. president of the Dis
trict of Columbia Bankers Associa-
ton, told nearly 900 delegates attend
ing the annual convention that the
total resources of Washington banks
had increased almost $3,000,000 dur
ing the past year and that these in
stitutions mist be prepared to handle
the new business to be brought to the
Capital through the Governments
huge building expansion program.
President Moran urged the bankers
to work for the passage by Congress
of a fraud law for the District in
order to give better protection to
banks and investors; to seek to bring
about earlier closing of banks in the
Summer months; to try to secure day
light savings for the Capital while 1t
is in force in other cities. and to CO.
operate with the District Life Under
writer's Association with res7ect t, life
insurance trusts
Need sF6r hegislation.
The Washington banker also sees
the need of passage by Congress of a
joint and surviyorship account bill
uniform fiduciaries act. and an arbi
tration act, these matters already hay'
ing been given careful study by the
associations law committee. Before
making these recommendations, Mr..
Moran reviewed one of the most sue
cessful years the organization has yet
enjoyed.
Our association is growing in
prestige and importance" he said,
mot only locally, but throughout the
country, as is evidenced by the fact
that we now have four members on
important committees of the Ameri'
can Bankers Association, in addition
to our regularly elective officers to
that association"
President Moran reported marked
progress by the protective committee,
Harry V. Haynes, chairman; by the
law and legislation committee, Fran
els G. Addison, jr., chairman, and by
the committee on standard banking
forms, Edward j. McQuade, chairman.
He also lauded the, work of the COM
mittee on. commercial activities. Vic
tor B. Deyber, chairman; taxation,
Robert V. Fleming, chairman; public
ity, F. p. III. Siddons. chairman, and
standardized banking insurance. Lam
ier p. McLachlen, chairman. The adj
vertising committee under Eliot ii.
Thomson metw ith great succec5 In
it's Christmas club campaign. and tn"
Improbable accounts study, guided by
John Poole, brought about the adop-
ton of the service charge by several
additional banks.
McFadden Law Explained.
President Moran welcomed the
Bank of Brightwood as new member
of the association and praised the
great strides made by Washington
Chapter, American Institute of Bank
ing. 1t was also stated that the en-
ployment service maintained at the
bankers headquarters is proving a
vital factor in Washington'S CONNER
cial life.
One of the highlights at the opening
session today was an address by
Henry II. Mckee, president of the
National Capital Bank, on ''The Nc
Fadden Bank Act" Mr.. Mckee is one
of the outstanding authorities of the
country on this law and played a
matchless part in helping get the
legislation, through Congress. In this
forenoon's adress Mr.. Mckee analyzed
every vital feature of the bill and
shed new light on many debatable
points.
"As result of the passage by Con-
gress of the McFadden BILL" he said,
''the disintegration of the National
Bank system has been arrested and
the permanency of the Federal system
assured. Hereafter the Federal Re-
serve banks and the national banks
may continue to carry on business
until their franchises are forfeited by
violation Of law, or until Congress
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