Evening star., 1928-06-08
INSTITUTE PAPERS
! ENCROSS BANKERS
Prosperous Year Reported by
4 d. C. Chapter at Long Is
- land Convention.
y BY EDWARD C., STONE,
FStsH Correspondent Of The Star,

NONTAUK BEACH. Long Island n
& y. June S-washington Chapter, Amer
icsn Institute OF Banking, was given its
innings during the second days huSi-
ness session Of the District Bankers As
soeiatacn convention at Hotel ATontauk
Manor here today. l. J. Roberts. retir-
SsAe president, reported the most pros
porous year in the chapters history
from the standpoint Of total member
ship. number Of students making spe-
cial study Of banking and the number
Of courses offered.
Winners Of the first three places in
the recent essay contest sponsored by
the District Bankers Association read
their papers 10 the convention. the gem
eral subject being The Establishment
Of A Credit Bureau" Bankers are right
nov taking steps toward establishing
such bureau III Washington, and the
subject matter II the essays proved most
interesting and practical
The first paper was read by IT. I. Bis
selle Of the Riggs National Bank, the
young man having captured first place
IN this contest for the third time. His
essay showed great care in preparation
and ClearNeSS IN expression. lie was
followed by another R1ggS National
Bank employe, Miss Catherine N. krleg.
who won second honcrS III the contest.
The young woman was the second OF
her sex 70 read paper before the con-
ventlon. Miss Lois NJ. White having
earned a similar distinction last year.
Spaid Leads Discussion.
Miss Krieg presented an excellent
paper. She was followed on the pro-
gram by John F. HLlyard Of the Ma
tional Bank Of Washington, winner OF
third place in the contest. His strong
presentation Of the subject was followed
by a general discussion Of the problem,
led by W. W. Spaid, president Of the
association. The essays were accorded
hearty applause by the bankers. The
contest rules insisted that the papers be
practical rather than theoretical
Vice President Robert Y. Fleming
presided at today's session and the first
address was made by Edgar l.. Smith,
president Of the Investment Managers
Co. Of New York, his subject being
why We Organize an Investment
Trust"
Folio, ing his address a paper pre-
pared by William II. Baden, trust OFF,
Ger Of the Washington Loan & Trust
Co. was presented. "Fiduciary Rela-
fionships" was the topic chosen. Mr..
Baden is considered an authority on
fduciary matters and his suggestions
Rrippeo the closest attention of the
bankers. The trust departments in
Washington banks have shown marked
expansion during the past year and
bankers are anxious for all the newest
business building methods
This address was also followed by
general discussion. LED by Merrel P CAL
laway, vice president Of the Guaranty
Trust CO. Of New York. the dlstin-
guished banker being 8 guest Of the as
sociation. I ,.s1
Many washington bankers favor the
formation 81 fidleiary group in the
local asSociat ion. AT present there are
the national. savings. trust company
and State bank divisions. The fiducsary
group would take a similar place IN the
associations affairs.
Siddons Submits Report.
Frederick II. P. Sir6oas. secretary OF
the American Security 8. Trust Co, SUBJ
Tnitted a report covering the trust sec
ton proposal. In various parts OF the
country such 'hduciary associations are
operating with much success, Mr.. Sid
dons stated. There are 80 banks in
Washington having trust departments
and il is believed that their common
problems could be taken UP TO splendid
advantage through specially organized
division Of the. association.
After presenting an exhaustive report
OF what Is being done In other cities
along this line. Mr., Siddons made the
definite recommendation that the next
administration oversee the forming Of a
fsdQciary division. The first real need
Of some such organization IN the Cap
itsl came when leading insurance men
Of the city sought closer relations with
the banks in the handling Of insurance
trusts. At first they found difficulty in
finding q group Of local bankers with
whom they could confer. T0daYts re-
port was signed BY Victor 3. Deyber,
Frederick Dec. Faust. William J.
Flather. 2. Ashby Learell, william H.
Baden and r. r. II. Siddons.
T0day's session vas enIiYened by the
annual report Of the protective commit
tee. Of which Harry " Haynes. pregi-
cent Of the Farmers 6z Mechanics Ma
ffonal Bank is chairman His report,
while Of interest only 70 the banking
profession. revealed marked progress
during the year. Afr. Haynes as char
man Of the Washington Clearing House
Association is particularly well inform
&c on matters requiring the attention of
the protective committe.
Fiduciary Division.
". c. Galway Vss heartily in favor
c. establishing q hcuciary division q
the District Bankers Association, the
proposal being referred 70 the incom-
srg administration. The New YORK
banker urged Washington banks 10 hold
fast a definite schedule of rates for
TcGcasrv Seyxace "Iet tfae other fellow
have the cs1t-fste business" he said
f'You viii DO ass0NeT volume q business,
but viii make more money. The patron
vr1o shops around anc asks for q
shading of rates Will come back 20 your
bark On account Of the service yoB
ye2}cer "
The speaker also urged the Washing.
tor banks featuring fiduciary bUsi-
ness " keep ln the closest possible
touch with the iega! profession. ez-
plairing that they get the greater part
Of their trust business through the
lawyers. Pree.denG 3paid appointed
Francis .. Addison jf.. chairman Of the
nominating committee tie other men,
Ders being VlcteT y Deyoef, Harry v.
HAYNES, Howard Moran and 10 tlua
Evans. r. The committee ~0n 1iu
tiofs consists r. " I CslliheT. .
man Ceofge l. EfaYkeg NiiliahA Ha4
nsg ard J z kzicios. the golf. ten
us and other sport cGnfeslg we're well
under Nay This atgernoou-
TnIcuhnun Dr.iaw