Evening star., 1928-06-09
FLEMING ELECTED
HEAD OF BANKERS
Riggs President Succeeds
Spaid as Executive of
Local Organization.
By EDWARD c. STONE.


was elected president of the District
OF Columbia Bankers Association at the
closing business session OF the tenth
annual convention here today. He sue
ceedS w w. Spaid.
Wilmer J Waller vice president OF
the Federal-American National Bank.
was elected first vice president: Lanier
+ McIachlen. president of the Nc
laehlen Banking Corporation. second
vice president: Albert S. Galley, vice
president of the Lincoln National Bank,
treasurer, and f. j, McQuade. vice
president of the Liberty National Bank,
secretary.
Reports by standing committees played
very important part in today's earlier
deliberations, the session being called TO
order by Wilmer j. Waller, second vice
president. Charles II, Doing of the
Washington Loan q Trust Co, reported
for the auditing committee. Francis 6.
Addison. ir vice president OF the Sc
curity Savings &; Commercial Bank. re-
ported important progress during the
year by the committee on law and
iecilation. Congress having passed sew
eral measures of vital import to Wash
ington banks. The report on uuprofit-
able accounts was made by the COM
n,ittee. of which John Poole. president
OF the Federal American National Bank
Is chairman
Riordon Presents Studies.
John M Riordon. executive vice
president of the Bank of Commerce &
Savings, and chairman of the commit
tee on commercial trade activities, pre-
sented one of the most exhaustive
studies of the subject. replete with
actual records and summaries. of any
committee offering its findings to the
convention.
II is one OF the associations mGst
important committees and Mr. Riordon
showed that ne realized this fact when
he suhdivided his subject under foair
he9ds. Real Estate and Building Mat
ters. Finance and Mortgage Companies,
Auiomotive Trade and Financing, Gnj
Merchants and Manufacturers. Ee
named as his chairmen w. Reginald
Lc-ris. cashier Northeast Savings Bank;
Fred Mckee. vice president Security
SSyings & Commercial: Hilleary G.
EoskinSon. vice president Riggs Ma
floral. and Claude H. Woodward. pres:
dent Mount Vernon Savings Bank
Nir Lowis' committee rnade knoT1
fhe fact that the total number OF bu:id-
ing permits of whatever character for
the wear ended April so. 1928. included
s 22l structures at cost OF 29,332,92a
ofr to S7125,000 from the high figure
n s9.5D4 900 in 1926, but exceeded 1927
by over s2l000000.
Building Little on.
The total building for the first four
nlanttls of this year was valued at $lE,-
22s.000 little less than in the corre-
a1onding months last year There were.
rs of March. 1928 li50 vacant apart
rrenis or 8.3 per cent. large majority
nf them Of the two-r0om size. Under
construction at the present time are
! 392 apartments. which viii be ready
sor occupancy In July, August and Sep
seYlbsT.
The committee calls further attention
tn the decline in interest rates on mort
rsge money during the past year from
z Her cent 10 5 per cent. with the ma
tngity of the leans By both banks and
real estate companies at per cent.
The committee voiced objections 70
the practice frequently engaged In By
builders OF erecting small apartments
IN residential localities which do not
conform in size, dignity or architecture
70 their surroundings. and also extended
r warning 70 outside labor against an
fieipa ting call for workers for Uncle
Sam In building operations that may
nos BE- undertaken for some years.
HilIcarv Hossinson. chairman Of the
81 Nsonaotiee trade committee. harks back
~ the used-car problem as tsge greatest
trouble the local dealers have He
being considered b. the Washington
fJtomotiVe Trade Association, which
hes been In nse In several other large
ri.ies and which il hoped will solve the
rrrb'~ps A salvage coranany s,inDori I'd
by all the dealers. would buy from the
x12icFs all of their used cars Of a trad
ting value up 10 SIS and would JUNK
ttera. Dealers are supposed 10 acquire
stock in the salvage company. Tires
s'ould BE- sold TO secondhand tire DEAL
fis and either parts to other dealers
t1tn the .ifnk was finally peddied out
Stability In District.
Claude H. woodward. reporting on
merchants and manufacturers, COM
nsenfed on the stability Of business IN
Washington last year Chain stores
Increased their business o per cent
Szies Of Insurance we're per cent
larger. while individual deposits In local
banks showed an increase Of per cent.
Sales o. representative department
stores last year fell slightly below the
S3S.765. 900 of 1926. II may surprise
many readers 70 find that Washington
cf products annually the chief among
these being foods and the output Of
tagf printing and publishing business.
u q als3 fact that less than 70 per
fg3t Of Wasi1inGtOns population i5 EN-
p'oye0 by the Government
FRED Mckee. reporting for the finance
s1d mortgage companies, commented
on the abundance oi ready money and
n2ieo that finance corporations gith
bat few exceptions. have confined their
activities 10 first and second mortgages.
9Th bslt one engaged 10 any extent
IN handing commercial Feeeiyabieg and
tj9e buying Of open accounts.
There rs also bat one local company
ergageo exclusively III the pirchs6c Of
automobile paper. large outside cofpo-
fafsons noy dominating this business
Further progress I'm the matter O9
Fsas9GsfG BANKING forms if use IN the
Washington banks was reported BY the
committee chairman. Y McQuade,
fgesl matters as uniform sizes for checks,
similar wording Of progniasoFy notes and
fs'ges ~ GiaeF fGFuos haze bseD pilHhed
fsg the past three years, With the result
t.sat y great deal has been ACCOMPLISH
~ 4 D@oxiet printed especially for the
probation gigee the slzeg NJ check,
fa'fs. eiH.. which are considered most
TeMiTable IN tanning practice and the
f>ai % unity has nearly been feacbed.
Standard Banking Insurance.
Tiae committee On standardized BANK,
ila insurance, e H. Pope, yiee pgesi-
fe1t of ttae Mitnsey Trust CO. CHAIR
nan. presented 81 eabag@iige RESUME
ef study ~ this problem Most pin6S~
ant relations win the United States
Treasury during tile year yeIe reported
~ Wilmer ] Waller wire president ~
tage Federal american HatiOnai Bank
c|szaB8n ~ the clqnmlttae
fsobeyt Y Fleming chairman vi ine
committee ~ iaEatiDn degofed most ~
his report ~ the test csBe now in the