Evening star., 1927-04-10
BRILLIANT BANKERS
/ AT SESSION HERE
Many New Ideas Held Sure
!. to Aid FinancierS and
General Public.
BY EDWARD c. STONE.


willard and casting a spell over Wash
lngton's financial district.
w. r. Morehouse, president Of the
Savings Bank Section of the A. b. A.
branded the convention as the best OF
the four regional sessions just held
the others being in Oakland, Cleveland
and St. Louis. After hearing so ad
dresses at the four conferences, he re-
GREETED reaching the end of the series.
Mr.. Morehouse has a personality
which gripped the Washington and
other Eastern bankers who met him.
He is an intense believer in the eX.
change of banking ideas. The fact
that he has written so many books
makes him the more receptive to new
methods and the way they work out.
He doesn't believe any banker ought
to be so selfish as to keep ideas of real
value to himself.
''I asked a Western banker to ad-
dress one of the sessions, and he said
he did not want to give away his
IDEAS said Mr.. Morehouse. 81 asked
him where he got his ideas and he re-
piled, In books Then / asked him
where he would have obtained his
views on banking if those writer's had
refused to share their ideas. He then
had to admit that his views were very,
very narrow.
"There is a bigness in little things"
Mr. Morehouse unused. "The mustard
seed is a striking example. Our street
railways are examples OF the business
of small fares. The young depositor
Of 20 years ago, with his pig bank
filled with pennies, is in many cases
the business man of today, with good
balance to his credit. He is good
example Of how little businesses eX-
pand. I sometimes fear that most
bankers pay too little attention to the
young depositor.
81 hope the time will come soon
when every bank will hew to the line
in protecting its depositors and in do
ing so let the chips fall where they
may. Let bankers give their advice
gladly for in doing SO they will save
thousands of dollars for their de-
positors."
Mr.. Morehouse has no use for de-
positors who are always overdraw-
ing and in other ways making trouble
and extra expense for their banks.
"A study of the types OF depositors
is essential" he says. after you
have the information the next step is
to separate the sheep from the
goats-keep the sheep and dispose of
the goats"
Another magnetic personality at
the convention was Orrin c. Lester
who has just been made vice president
of the Bowery Savings Bank and
placed in charge of the public rela-
ton department. Only about four
years ago Mr.. Lester was living in
Washington and working for the Gov
ernment. His rise in New York has
been rapid.
He wants savings banks to outline
plan that is so clear, practical and
definite that every American family
can follow and in the end have a
competence sufficient to take care Of
old age. He believes that families
should have the right to take their
family financial problems to their
banks and get advice that will put
and keep them on the road to inde-
pendence. He proposes to find out in
his own bank just how far ii is possi-
BILE to help people who need financial
help the most.
Mr.. Lester not only raps the banks
but the colleges for the failure to help
individuals and families TO work out
their economic lives on sound and
practical lines. ''The truth is" he
adds, there never has been any sys-
tenatic education on the part of the
educational institutions of this coun-
try to give young people an intelligent
understanding of the great problems
of the management of their life in
comes and to show them, when they
are young, how to start out on an in
telligent, well-devised program of
financial management"
Officials Win High Praise.
Deputy Manager w. Espey Albig of
the Savings Bank Section, A. B. A.,
and Fred N. Shepherd, another A. B.
A. official who gives all his time to
the National Association, won high
praise by the enthusiasm manifested
at the conferene.
Mr.. Shepherds remarks at the
banquet, in which he outlined the vast
amount of work the association is
doing in spreading information among
the members and keeping in closer
touch with the public, proved most
Informative. Everything both OF these
men said during the conference drew
special attention.
The appearance Of Henry II. Mckee
Of this city before the convention
gave the bankers the last word on the
McFadden Laws provision. All the
speeches were so uniformly good that
it would be unfair TO single out any
one as the best. But Mr.. McKee's
subject was so timely and so little
has been said in the way Of clearing
up some of the provisions of the
bill, the delegates were particularly
enthusiastic over his remarks.
One Of the greatest advantages OF
the regional conference pointed out by
the presiding officer was that so many
bankers could attend who could not
get to the annual meetings of the
American Bankers Association, or
account of the distances, expense and
time required.
Yesterdays Local Market.
Washington Railway & Electric
common came out again yesterday or
the local board when 10 shares sold
at 2251s. The preferred was out al
92.
Union Trust Co. stock sold at 27S
q gain Of IL points over the last sale
Other issues were practically un
changed. Capital Traction ended tht
week at 105A. Mergenthaler at 1099s
and Peoples Drug Stores at 10S.
There was a sale of 100 shares oi
Barber & Ross common at 36B. There
were but two bond transactions
Washington Gas 6s, Series b, closing
at 10514.
Favorable Business Forecast.
Such developments of importance
es have occurred in the past month
in the general business situation al
tend toward expansion of employment
and output to where they can again
compare favorably with the recor'
year 1926 says the business re
view of the current American Bank
ers' Association Journal. Few eX
pect the year to achieve many new
high marks. but evidence is increasing
that it will not fall seriously behin'
last year.
''The favorable factors includ
marked increase in steel mill opera
tions to near capacity, increases