Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-19
BANKERS TO HEAR
OFFICIAL OF A. B. A.
r. c. Stevenson Booked for
Local Convention-0ther
Plans Being Perfected.
BY EDWARD c. STONE.

speak at the eleventh annual conven-
ton Of the District Bankers Associa
ton to be held at Montauk Point on
June 20 to %.
This will be the first time in the his
tory Of the association that one of the
national officers has been on the pro-
gram. In all probability he will speak
on the first day, the subject to be
announced later.
Mr.. Stevenson has been very active
In the affairs OF the American Bankers
Associa ton for many years and is we'll
known locally to several officials of the
banking Institutions. He is at present
vice president of the st. Joseph County
Savings Bank at South Bend. Ind.
There is still one speaker to be OBJ
tanned for the program and 1t is eX-
pected that he will be secured this week.
The program committee recently de-
cided to devote considerable time to a
discussion of bank management prob
lens and to this end three local bank
presidents-Henry H. Mckee, Robert
Y. Fleming and John Poole-were asked
to speak After these arrangements
we're made. President Fleming received
2 letter from Craig B. HazelWood, presi-
dent of the American Bankers Assocla-
ton, suggesting that bank management
would be a particularly timely subject
for convention consideration.
Mr.. Fleming notified the A: B. A.
head that one days program had al
ready been set aside for such discus
sion and mentioned the topics to be
taken up Mr. Hardwood replied that
these topics struck right at the heart
of the problem, in his opinion the most
important in American banking today.
Convention reservations are coming
in at an excellent rate and the So
called second call will be issued this
hMcf1i11O
to make the conclaye the largest ana
best yet.
Exchange Trading at Standstill.
Members of the Washington Stock
Exchange anxious to get out of the
layed long by yesterdays session. Trad
ing was over almost as soon as 1t
started.
Potomac Electric Power 5la per cent
preferred. now selling ex-dividend.
moved at LOG. This completed the
stock trading and attention was turned
to bonds. Two issues came out. wash
irgton Gas 6s series B, figured in 5000
and $500 sales at 1924 and in one
$1,000 transfer at 1o412. Washington
Gas IS registered $4,000 transaction
at par.
The local securities not listed under
exchange rules were called off as usual
on Saturday. Only small changes were
noted in bid and asked prices. Local
Gas stock, which sold up to 10 dur
ing the week, was quiet yesterday.
The present credit situation and the
uncertainty over the future outlook
for money appears to be one of the
chief factors why interest in local
stocks and bonds has ben at such
a low ebb during the past few days.
The exchange has received another
application fer membership and the
board of governors will probably take
the matter up some time during the
present week.
Apropos Bulls, Bears and Hogs.
There are three interesting draw
ings in the Office of B. A. Smythe.
manager of the Washington office of
E. A. Pierce g. Co., in the Transpor-
tation Building. They are q rather
aristocratic bear. fairly good looking
bull and fine looking hog.
Of course, they are supposed to bear
constant witness to the old saving that
in the stock market a bull makes
money, a bear makes money, but hog
never makes money. He roots around
and tries to hog all the profits and as
a result holds on just too long and
is left at the top, on the breaks. In
other words he holds the bag and
sometimes it is a big one.
Apparently the artist who made the
drawings never traded in the stock
market. His bear looks as if he had
been successful in many short sales,
the bull has selected many stocks that
have advanced in value. but the hog,
instead of being lean, larlk and poverty
stricken, is sleek, fat and prosperous,
and a model of his kind, gloating IN
the profits he has taken from the
bears and bulls.
Banking Forms to be Printed.
The committee on standard banking
forms of the District of Columbia
Bankers Association, Frederick H. Cox
chairman, will meet Tuesday afternoon
at 4 o'clock at headquarters: This VIII
probably be the last meeting OF the
year before the convention.
Many meetings have oeen nelo curing
the newest forms adopted in the most
1,n-to-date banks The aim Is to give
Washington banks the greatest possible
uniformity, together with the resulting
economies. -....
II is the intention of the committee
r. combine ali the forms that have oeen
adopted during the past four years ano
nrint them under one cover. SUCH
book will be Of great service 10 iocal
bankers. The committee has done orl.
liant work for the association. EDWARD
7 McOuade being chairman Tor three
wears. Mr.. Cox taking his place Wnen
Mr. McQuade was elected secretary, OF
the association, although ne is stllI
member of the committee.
Cleaned in Financial District.
Charles J. Bell, chairman OF the
board of the American Security q
Trust Co., has shown constant I'M
during the mast week.
President George o. Watson has been
unable to preside at the recent sessions
Of the Washington Stock Excnange
because of very sore throat WHICH
weakened his voice. , 49,.
Several bankers VINO atIenueo CLie
sessions of the Investment Banke ,lf
Association of America, at White SUI
,,bnr Snrinqs. stopped off here on their
wav home. All reported an extra me
Spite AItssrati e for the opening Of a
hrorerape Office in the washington
Hotel by Meehan g. Co, are progressing
rapidlv. Much of the space on N N
street floor on the street sue Oh III
botel used for parlors and occasionally
t ~. t,,,on,,ets will be included in the
snacious offces. A special entrance
fror, the sidewalk has already oeeh
Charles w. Darr. president OF me
Chamber of Commerce says tne hlpuS.
tr;a S' exnositions held here have been
f sic in their effects. Statistics
Of IF the Bureau of the Census disclose.
said Mr.. Darr, that in 1925, the year year
81 ofi4 the ei- first exposition. the total value
Of products manufactured here was
s83576,826. In 1927. the latesI yea yea
for which actual figures are a n,,rro,t
the total was 500, 389,537. the curlehl
year viii undoubtedly witness the cross
ing of the sloo,ooo,ooo mark, SAID MT