Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-06-10
D. c. BANKERS HEAR
STUDENTS PAPERS
Celebrate "Institute Day" at
Hot Springs SesSion-Send
a. Lindbergh Greeting.
BY EDWARD c. STONE,
staff Correspondent of The star.

the District of Columbia Bankers AS
ISOLATION convention now in session
here. In addition to a resume of the
work done by Washington banking
students. Francis G. Addison jr.. vice
president of the Security Savings ant
Commercial Bank and a past president
of the association, delivered an address
stressing the Importance Of having al
real estate notes certified to by re
sponsible title company. and Louis
Rothschild, director of the Washing
ton Better Business Bureau, explain
ed how large sums of money nave
been saved for investors during the
past year.
T. Hunton Leith, retiring president
of Washington Chapter. American IN
stitute of Banking. stated that inc
registration, the number of courses
offered and the number of students
granted certificates had far surpassed
ali rrevious records. The institute mas
entered upon new ground IN the pfel'd,
ration of young Dangers IN the Capltai
and the officers propose TO take no
backward step during the coming
wear. Mr. Leith's brief report was
roundly applauded by the convention
delegates.
in the essay contest conducted by the
Panl5ers' Association read their papers
The trip to Hot Springs being the
reward for their ambition and ability.
First prize was captured by ii. i.
Bisselle, Riggs National Bank; second
bv Lois A White, Federal-AmeriCan
National, and third by Alfred w.
sherman, American Security q Trust
Co. It was the second time that
Bisselle had won the honor, and Miss
White was the first member of her sex
to best a large field of male contest
ants. The subject on which they
wrote was THE Improved Service 10
Customers That Has Been Made Pos
sible by the Policy of the Service
Charge, and the Result to the Bank"
Judges Express Qualification.
The Judges expressed qualification
over the clear, convincing and in
structive manner" in which the sub
1ect was handled. Both the advan-
tages and disadvantages of the service
charge, which has caused a lively con-
troversy among Washington bankers,
were presented. All three papers were
most enthusiastically received today.
selle's winning essay follow:
The closing statements in Mr.. Bis
selles winning essay follow:
Il reiterate that the general and
wholesale application of the service
charge as a panacea for the unprof-
liable account is wrong in principle,
hut when used with moderation and
discretion as tonic for the upbuild-
ing of unhealthy accounts it may
we'll serve to build up a bank ac-
n
nurse 1t through the period of con-
valescence and restore it to that state
Of health which will prove a joy to
its owner and to the bookkeeper. To
this extent the service charge can
improve service to customers. 1t can
he used as a crutch to keep them on
their feet in times of misfortune; but
only a healthy balance can give them
the best bank service, providing them
with an emergency reserve. a credit
relationship and that feeling Of COM
fort which the ,ervice charge can
never produce. In concluding l
would like to say this:
Depend on Public.
eve are dependent upon the public
for our existence and prosperity. 1t
is primarily to our own negligence
that the pubiics misconception Of
hank costs is directly traceable. 1t
therefore would seem to rest with us
to remove that misconception and sub
stitute therefor new understanding
on the part of our depositors of our
problems. Let us impress our de-
positors with the value Of a good
banking relationship, of the standing
it gives them, and of the opportuni
ties it offers. Let us place our cards
%1I1 ,.1I 4,
crease the amount of Improbable
business that we all carry now. After
all, would it not be infinitely more de.
sirable from our viewpoint and that
of the depositor also if we can con-
trive to place many Of the accounts
that are now losses to the bank on a
profitable basis. rather than TO tax
them because they are improbable?
Discussions followed each paper.
Following the presentation of his
address on the certification of real
estate notes, Mr.. Addison offered GER
tain resolutions for consideration by
the association, and aimed to bring
about constructive changes in present
conditions.
Louis Rothschild stated that even
the gold-mining stock promoter has
not yet disappeared, and that every
little while one trys desperately to
get money from Capital residents. The
fake oil stock salesman is still abroad
in the land, he said, and the bucket
shop operator is not yet a thing of
the past
Funds Are Protected.
The Before You Invest-Investi
gate" campaign has diverted a host
of funds belonging to inexperienced in
vestors from questionable and fraudu
lent to legitimate channels, he de
clared. During the past year, he said
the bureau has answered 1900 specific
inquiries regarding investments AND
given safe guidance TO hundreds OF
thousands through radio talks, news
paper advertising, news publicity and
other means.
In conclusion, Mr.. Rothschild urged
District bankers to work for new
blue sky" or fraud law, TO still bet
ter protect people with limited in
comes.
Harry V. Haynes, president Of tht
Farmers & Mechanics National Banl
of Georgetown, presented the renor'
of the protective committee. This
showed marked progress during Tbs
year and suggested new methods fol
further improvement.
Vice President w. w. Spaid. WIN
presided at today's session, reported
that Gov. George J. Seay Of the Fed
eral Reserve Bank of Richmond wa
unable to fill his place on the pro
gram, having sent sincere regrets.
Laud Lindbergh's Courage.
Col, Charles A. Lindbergh's cour
age, zeal and skill We're lauded by tn
Washington bankers here today, whel
high finance was temporarily side
tracked and the following MESA <
telegraphed to the flying ace at tn
White House:
1.-THE District Of Columbia Bankers
Association, in convention assembled
fully recognizing your great achieve
inent Of courage. zeal and skill di!