The Washington times., 1927-02-16
BANKERS PL An
CONVENTION
By RICHARD HATTON

BY RICHARD HATTON
Plans for the annual convention
Of the District Of Columbia Bankers
association. which viii be held at
Hot Springs, Va, June 8 to H.
took q long step forward at the
first. meeting Of the general con.
yention committee under the chair.
manship Of President Lanier P,
McLachlenl of the McLachlen
Banking Corporation. According to
officials Of the association, this
years general committee is one OF
the strongest ever named by the
organization and the several sub
committees working under the d..
rection Of the main body are all
enthusiastically perfecting the de-
tails of their assignments.
While 1t is yet too early to de-
tail the discussion Of the general
committee at its first meeting, 1t
Is known that convention plans
were outlined in a most compre-
hensiVe manner and, according TO
General Chairman McLachlen, the
entire program now is moving Tor
ward with. an impetus which prom
ises to make this years gathering
supreme in the history of the or
kanization, both in point OF num-.
bers attending the convention ana
in the general constructive value
OF the meeting.
In connection with this annual
period Of constructive effort Tor the
betterment Of banking service It -
generally acknowledged that interest
in the discussions and subjects
brought forward at the convention Is
not confined to bank officials nor to
members of the District OF Columbia
Bankers Association. Practically all
matters coming before the conven'
tion are OF deep interest and I'M
portance to business in general ana
to the thousands and thousands OF
Washington citizens who avail them
selves Of the service offered by their
banking institutions. Bank direc'
tors, the heads Of local corporations
and business houses and the general
banking public, it is obvious, all
have an intimate interest in the Ell.
forts of the bank officials to
strengthen their institutions and TO
provide the maximum service to
their customers. This Is, In fact,
the main reason for the annual gath
ering OF those who are at the helms
Of the banks OF Washington,
The comprehensive plans outlined
by the general convention committee,
the cooperation Of the chairmen and
members OF the special committees
ana the enthusiasm already evinced
by officers and directors OF practical
" all washington banking institu.
tons as indicated by the first meet
ing OF the committee in charge point
to the 1927 convention as one which
win surpass IN interest any previous
assemhlage. Of the District OF Column.
bia Bankers Association.
Frederick r. H. siddons. secre.
tary OF the. American Security ana
Trust Company, has been named by
President Howard Moran. OF the
District OF Columbia Bankers Assoc
ciation as chairman Of the publicity
and exhibit committee. OF the Re-
gional Savings Bank Conference OF
the Eastern division, American
Bankers Association. which viii be
held in Washington April Z and =.
This conference will be of especial
interest and value to local banking
institutions.
A meeting OF the publicity and
press subcommittee OF the general
convention committee for the Dis
trict Of Columbia Bankers Associa.
ton has been called for Friday, Feb.
rlary 10, at 4:15 p. m. in the head.
quarters OF the association.
President Lanier p. McLachlen,
Of the McLachlen Banking Corpora.
ton, left for New York this after
noon, where he will attend the an
nual banquet Of the trust division
of the American Bankers Associa.
ton. Several other prominent
Washington bankers also will be
present including Charles J. Bell,
George o. watson, Edward ]. Nc
Quade, John Poole and. Luther
Schriener.
The creditors reorganization com.
mittee Of the Old Dutch Market Of
Virginia of which President Robert
v Fleming Of the Riggs National
Bank Is chairman, has forwarded to
the creditors a comprehensive plan
Of reorganization adopted at joint
meeting Of stockholders and cred
itors. According to the committee
announcement: THE new plan calls
for 100000 new money in first pre-
ferred stock. A large portion Of this
amount has already been subscribed
to by the stockholders Of the old
company and at this last meeting q
number Of creditors bought some
stock outright and others indicated
their willingness to accept their 10
per cent cash dividend in this first
preferred stock. There still remains
unsubscribed Of this first preferred
stock issue about $12,500 and your
committee. now offers you the oppor.
tunity to subscribe to this either as
11auY afocs or In lieu Of Ynur cash