Evening star., 1928-06-07
D. c. BANKERS SHOW
BIG GAIN FOR YEAR
Annual Convention of District
Group Opens at Montauk
Beach. L. |.
BY EDWARD c. STONE.

BY EDWARD c. STONE.
sian Correspondent Of The star.
MONTAUK BEACH, Long Island.
lime Exceptional progress by the
District of Columbia Bankers ASSocl-
alton during The past year was reported
here today by President w, W Spaid
at the opening of the tenth annual
convention al the Monta0k Manor
Hotel District Commissioner Sidney
2 TsliatcrYo reviewed the tremendous
increase ~ expenditures required by the
National Capital in recent years; John
jay OCo0nor Of the United States
Chamber ~ Commerce vivldly pictured
cvvrcr. problems in finance. and Frank
W. SimD1oUGs presented greetings Of the
American Bankers Association. The at
tendance broke ali former records.
III pointing 10 the years headlights
81 Washington banking. Mr. Spaid as
serted that the passage Of the JOINT
anG SuTVlvorShip account act by Com
CrcSS was the most important piece ot
direct legislation ever procured by the
Bankers Association. With the possible
exception az the So-called married
vonan'S act.' passed two wears age.
Recent passage Of the uniform 11dUci
sr1eS act was also lauded The aSSoIi-
atoms protective committee has done
etfec'lTe work against Sw.nd.eS and
Sw!n6lerS.
Operating Statements.
Requests for operating statements III
addition 10 financial statements from
borrowers are now being requested by
Washington banks, Mr. Spaid stated, 10
the great benefits Of the banks. more
Nnf
offered for collateral is being obtained.
and move Is under way Tor establish
raent OF an effective credit bureau. Dur
Ing the year. the association president
continued. there has been great stlmu-
lstion among Christmas Savings Clubs
and successful campaign for securing
more trust business Is now under way.
The publicity. standard banking forms,
Insurance. taxation and commercial ac-
tlvitieS committees have been brilliantly
successful in assisting the banks, Mr..
Spaii declared.
Commissioner Taliaferro. in an ad-
dress on The District of Columbia,
the Citizen ana the Banker" presented
figures % shog the amazing growth of
the Capital in the past 81 years an in
crease IN costs from 1856 .096 to more
than s23 100000 being revealed Mr..
TaliafeTro said in part:
'Thirty-one years ago. in 1897, when
the population Of Washington was ap-
prox.mately 265 900 the expenditures
Of the District Of Columbia amounted
70 S5.9S5.026. The income Of the Dis
frict of Columbia amounted To $3.255.-
$50. obtained from the citizens Of the
District IN the form OF taxes. The total
value q assessed real estate was $780,
376.903 from which was derived 50. .705,-
es4. or the larger portion Of the tax.
TweI7ty-o1e years ago. under the
same classification. there was a popula-
ton of 500 coo: expenditures Of Si0.-
e52947. income OF 5.253. .395. The to-
tai Ealue of assessed real estate was
s2s7- 300 4a4. and the taxes collected
thereon, IS, ,70a. .597
Eleven years ago, with a population
of $50 282. expenditures of Sl2.84O.4i2.
income Of SO 622. .995. The total value
O. assessed real estate was S402. .099. .232,
and the taxes collected thereon, So
O3i z88.
Over 33 Millions.
"F0r the fiscal year 1927, with a pop
ulation Of 10000. the total expenditures
were s33.055.576: income Of s25, go, ,629.
The total value of assessed real estate
Nss S946. .367.442. and the taxes collected
theron. sl7o3s614~
Mr. Tahaferro scored those who crit
tct2e Congress IN lis treatment Of the
District 1T is inherently difficl,lt for
So men. nusy with the problems and
affairs Of their own constituencies and
Of the Federal Government. TO give the
TINE necessary TO know and understand
t.se problems Of the District he as
serted.
In conclusion the Commissioner
praised the part played BY the banker
N the everyday business affairs 0f the
community. IN caring for the funds Of
the inexperienced and IA sharing busi-
ness Judgment and financial support
when ii IS most needed
There are many" he asserted. who
VII say that the banker ii this cOun-
Try To-Day is by al odoS our most iIn-
portant citizen lie Il is whose skill
insight and ability is brought 10 bear
upon al Of the problems OF business,
becasise al business Is a question. III
the last analysis 81 profit and loss It
is q matter Of dollars and cents. Every
csy thousands Of men who fatter
themselves that they are running their
eTn affairs and conducting their own
businesses. are kept IN the right path
are insured their financial success by
the good Offices. the analytical review
eElc he good judgment Of their bank
erx."
Failures Tnexcusa Bile
Mr.. SlmnaoTdg declared bank failures
ere sreZcusaoIe aid that more highly
trained and experienced bankers are
needed 20 prevent them.
The credit bureau and the clearing
houses are playing most vital parts in
Increasing banking safety, he said. IN
conclusion he lsaded fi3e service charge
and the system Of clearing mouse ezaYnl-
Tst5OrE
II discussing current problems IN
finance, Mr. Conner deiyed into in
ferest rates. credit commodity prices.
real estate and stock speculation bro
kers' leans. reolsc0unt charges and the
eall-wonew situation.
On motion q Harry y. Haynes, 6ec-
refayy l. r. BfcLacnien sent tele-
gram 70 Lawrence A. Slaughter thank
fsg him for hls work 10 preparing for
IT, convention and regfe1ti1g the illness
rreYenfsng his attendance.
I 4 similar message was sent ~ Charles
y Bright ~ the National Metropolitan
yssnk who Is also manager u the
Waensngfon Clearing House ASsOcla-
s.en y0hn - leonard chairman oi
frae cerse9tlalf committee. reported 80
g. ~ 81 washington banks represented
e. the convention.
s~--se~~~r~-