Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-06-11
v. v. SPA|D NAMED
! TO HEAD BANKERS
D. C. Organization Chooses
3 Complete Official Board
9 at Hot Springs.
r. BY EDWARD C. STONE,
staff CORRESPONDENT of The Star.

T BY EDWARD C. STONE,
Is staff Correspondent of The Star.
HOT SPRINGS, Va, June 11.-W.
w. Spaid, partner in the brokerage
firm of w. B. Hibbs & Co., was unanl-
mously elected president OF the Dls-
trict of Columbia Bankers Association
at the closing session of the ninth an
nual convention here today. Robert
V. Fleming, president Riggs National
Bank. was chosen first vice PRESIDENT
Wilmer J. Waller, vice president FED
eral-American National, second wee
president; Lanier p. McLachlen, presl-
dent of the McLachlen Banking Cor
poration, secretary, and Albert ). Cat.
ley, vice president Lincoln National
Bank, treasurer. Frank j. Hogan was
again asked to serve as counsel.
With Mr.. Fleming presiding, the
convention today heard a grist of re-
ports on the work of the past year.
Keen interest was displayed in the re:
port of the committee on commercial
activities given by Victor B. Deyber,
the work being carried on by TOUR
groups. Howard Moran was chairman
of the real estate and building group
Fernan Petit, finance and mortgage
companies; Lawrence A. Slaughter,
automotive trade and finance. and Mr..
Fleming, merchants and manufac-
turing.
ID. C. Building Statistics.
The report of the committee on real
estate and building matters in Wash
ington showed a decrease in the num-
Der of structures in 1926-1927 of 1854
compared with the preceding year.
There was a drop of ], 120 in the num-
Der of permits issued and a slump of
d. I'll - 4.
new buildings. The Operative Build
ers' Association furnished the commit
tee with figures showing that during
the first four months Of this year
there were much fewer apartments
and houses built than during the cor.
responding period last year or in 1925.
In 1925 building for the four months
totaled 20,955 ,266; in 1926, s23,540 $50,
and in 1927, $14.656,o45. The report
at is with distinct regret that your
committee notes the increasing num-
Der Of vacant stores for rent and sale
and the large number Of apartments
which are for rent, and, in fact, this
condition has spread somewhat in resi-
Dental properties. The committee is
gratified to note that there is some
what Of reduction in the volume of
building, and feels confident that if
the builders of the city will stand firm
In reducing the volume of building, for
a short time at least, the continued
increase in population will soon alb |
sorb this apparent overproduction and |
conditions will again be satisfactory.
Your committee is also very opti- |
mistic over the growing interest dis |
played by people all over the country |
in the contemplated building program |
of Congress, which will be of great |
benefit to the business interests and |
banks Of the city, as 1t will give en-
ployment to all classes of mechanics
speed up the business Of material and
supply houses"
Report on Real Estate Presented.
The committee reported that the de-
velopment of finance and mortgage
in Washington has to a
large extent been in the hands Of men
of Integrity, knowledge and long ex-
perience." The report of real estate
men who recently studied real estate
bond issues from national viewpoint
the findings being published in The
Washington Star recently-was pre-
scented to the convention.
The condition of the automotive
trade In Washington was considered
at length. The committee scores too
much installment buying, favors the
separate handling Of used cars and
new cars, notes growing competition,
and concludes that 1927 will be good
year, but not quite up to 1926.
Department store sales" the re-
port says, "for the first four months
OF this year have been slightly lower
than in the corresponding period of
1926. Commercial failures have in
creased, but the difference between
assets and liabilities has been much
smaller. The city is showing steady |
gains in the volume of manufacturing |
and the number of trade organiza-
tionS establishing headquarters in |
Washington is constantly on the in |
crease"
Other reports presented included |
that Of the auditing committee, John |
M. Riordon, chairman; fraudulent Sc
curities, Eugene E. Thompson, chair |
man; law and legislation, Francis G.
Addison, jr., chairman; Improbable
accounts, John Poole, chairman; stand
"rdized banking forms, Edward j. Nc
uade, chairman; standardized bank |
ing insurance, L. p. McLachlen, chair |
man; Treasury relations and taxation,
T. v. Fleming, chairman; advertising,
i
Lefty, F. P. H. Siddons, chairman.
The advertising committees report
revealed that the Christmas savings
club campaign had been a great sue
cess. There are 78,145 enrolled this
year, against 1855 in 1926, the
amount subscribed being 994,903, |
compared with $5,472,4 28 a year ago.
The work of most Of the other COM
mittees has been Of more vital con-
Germ to the banks than to the general
public. Steady advancement has been
made toward obtaining standard bank
ing forms in all the District Of Column
bia banks, the Treasury relations
committee brought about more salts
factory rules in regard to damaged
coin, the monthly bulletin is to be en-
larged and improved next year. while
the associations employment service,
conducted at headquarters, is proving
more and more useful to the CONNER
cial interests Of the city.
A.