Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-10-03
LAKEWOOD HEADS
BANK ASSOCIATION
John Gerdes LonsdaIe Be-
comes First Vice President
of National Organization.
BY the Associated Press.

BY the Associated Press.
PHILADELPHIA, october 3.-Craig
B. Hazelwood. vice president of the
Union Trust Co. Chicago, today was
elected president of the American
Bankers Association at a general con-
vention meeting Mr.. Hardwood had
been first vice president of the associa-
ton.
John Gerdes I,onsdale, president of
the National Bank of Commerce of ST.
Louis. was elected first vice president
and Rome c. Stephenson, vice president
of the St. Joseph County Savings Bank
and president of the st. Joseph Loan &
Trust Co. South Bend, Ind, was elected
second vice president.
The association is representative of a
banking system, which shows resources
larger at this time than at any other
period in its history. E. A. Onthank OF
Fitchburg, Mass, said in an address to-
day.
ION June 80 this year. and for the
first time he said. 1.-The total resources
exceeded twenty-eight and one-half bill
lion dollars. In the abstract this is
staggering sum. but when one considers
the breadth of its distribution and the
very large percentage of our Nations
thereby, the total does not seem unduly
large.
Renders Public Service.
Banking is essentially private en-
terprise rendering distinctly public
service, and must be made to yield re-
Enumeration to those engaged in it,"
Women, long accused of running up
bills" make less use of banking credit
IF
cago said in addressing the convention
of the Association of Bank Women.
The housewife. Miss Olsen said, Is
far less familiar with credit transact
tions than Is her husband. She believes
women should do an increased credit
business She declared that while the
woman who goes to her banker for
credit may not always obtain loan she
will at least be given invaluable advice.
The place of the savings bank as a
dispenser of advice to young married
couples was pointed out by Miss Mabel
Thompson of New York. She said
every savings bank should have place
where the young man about to marry
may consult an expert on financial mat
tiers and on borrowing money for his
home.
state banks are not able to compete
with national banks along specific lines
of income" said a report presented by
M. P. Beebe of Ipswich, S. OAK, as
chairman of the public service COM
mitree.
Sees Golden Age" at End.
The report of the State legislative
committee, presented by Felix M. Nc
Whirter, indianapolis, stated that 1t
had been active in Nationwide cam
paign to obtain greater uniformity OF
better bank legislation.
The committee on relationship with
the Federal Reserve System, 7. Q.
Hammond, chairman, urged more State
banks to become members of the Fed
eral Reserve System.
Leonard P. Ayres, vice president of
the Cleveland Trust Co., Cleveland.
said Yesterday that Americas golden
age of business" that began with the
opening of the World War, has come to
an end.
Ayres who spoke before the State
bank division, said he was not pessl-
mistic. but was stating frankly what
bankers had all come to realize. namely,
that the most important business fact
of 1928 Is that we have lost half
billion of our monetary gold"
Furthermore, he said, this loss prob
ably will be permanent. and will make
necessary a new investment policy.
Sees Sober Age.
The new age will be a more sober
one, Mr.. Ayres pointed out, although
the American people still are in mood
of "invincible optimism"
THE fact that has the most impor-
tant bearing on the future prospects
of banking and business In this country
is that heavy and regular imports of
gold seem to be things of the past" MIR.
Ayres said.
An international association of bank
ers which would bring the world "a
better understanding of the problems
which beset every country and would
make for a more cordial and sympa-
thetic understanding among nations"
was advocated by Thomas r. Preston
of Chattanooga, Tenn, president of the
association.
In abiding to the political situation,
Mr.. Preston said, I'VE are coming to a
new era In political life" and added
that there would be no disturbances of
business either large or small. regard
Hoover were elected.
Paul P. Brown, secretary of the North
Carolina Bankers Association, made a
plea for the installation by banks of
service charges on Improbable check
ing accounts.
1 97E NFW lamps