Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-22


ness and banking SS1H- ~
progress has be- c. b. Hazlewood.
come yiSable and
tangible Mr.. Hazlewood said in part
There was a time when business
seemed without leadership and with
out direction. Progress consisted In
mere cropping toward the light. !ooay
the reverse is true. A better metnoo Il
discovered. the news is broadcast, TIT
idea is promptly accepted, and TIT
various industries and units OF bushes!
march forward with greater assurance
and increased rapidity.
Bank management is perhaps TIT
most discussed subject in our banking
system. Bankers everywhere nave
definitely begun to realize that there
are scientific methods of operating .
bank, an ignorance OF wnlch speli'
failure. and a knowledge OF which Il
the only KEY to banking success.
Sound Management.
1.-THE evidences of this are found on
every hand. In banking magazines and
In financial newspapers, at State bank
conventions and at group meetings, al
most all of the discussions are beginning
to revolve about the single subject OF
that management is what makes the
difference between a successful and an
unsuccessful bank, that a bank cannot
be successful unless 1t earns profits.
that it cannot be profitable unless 1t
enjoys the confidence of its community,
and that it cannot enjoy this conf
dence unless it is liquid and therefore
safe. MANAGEMENT, profits, liquidity-
these today are the great key words.
"It is high time that bankers awak-
ened to the fact that the ultimate OBJ
jective in running q bank Is to make
profit and that this requires skilled
MANAGEMENT. That may seem like a
cold philosophy. It may seem to dis
place the human side of banking. 1t
NAV seem to forsake the idea that a
bankers principal function is to serve
his community and the men and wom-
en- in It. It does none Of these things.
Let me emphasize that no banker prop
erly serves his community and its citi-
zens unless the bank makes a profit. for
profit in banking is inseparable from
safety. And a bank must be safe IL 1t is
to contribute its proper share to the
upbuilding and development OF its COM
munity."
President Names Essay Judges.
President Robert v. Fleming Of the
District Bankers Association today APP
pointed the judges for the essay contest
conducted by Washington Chapter
American Institute Of Banking, the
winners Of first. second and third places
being awarded with trip to the bankers
convention at Montauk Point. Long
Island.
The Judges are w. w. Spaid, partner
in w. B. Hobbs g. Co.; Howard Moran,
vice president Of the American Security
g. Trust Co., and Joshua Evans, jr.,
executive vice president Of the District
National Bank.
The subject Of this years contest is
Methods by Which q Bank May Best
Protect Itself From Fraud" The papers
have all been written and submitted
according to the rules and now await
the judges decision. The papers are
all numbered and none of the names
of the authors are known to the judges.
This contest has been held annually
for several years and always proves
highly interesting. The subject this
year may have been considered bit
heavy by the members, as not quite
as many essays as usual were submitted.
This, however, will only serve to in
crease the chances of those who did
write essays to get to Montauk and read
their papers to the gathering OF bankers.
Always Common Stock Offered.
An issue Of $4,000 shares Of common
stock, no par value, Of Atlantic Sea-
board Always, Inc, is being offered
today by Charles s. Rodd & Co., Inc,
priced at SIS per share.
The company has large tangible as
sets, including Hoover Field, Washing
ton; Hams Point Seaplane Terminal
and Gettysburg Airport, and controls
International Anyways. Inc; Potomac
Flying Service, Inc; Hams Point Fly
ing Service and Gettysburg Flying
Service, Inc, all engaged in air opera
lions, including flying schools for stu
dents.
Expansion along the entire Eastern
seaboard and acquisition of additional
airports and seaplane terminals, with
Hoover Field as the central point, Is
contemplated. Proceeds of this f1nanc-
ing will be used to acquire properties,
to enlarge operations of present sub
salaries and to enable the corporation
to consummate plans for expansion OF
its services to other territories and
branches of aviation.
Local Securities More Active.
Trading on the local Stock Exchange
was considerably more active today than
in recent sessions. Capital Traction
again sold at g. There were three
odd-lot transactions in Washington
Gas Light stock at ITO. This stock
is appearing on the board more fire.
quently than it did a month ago and
is also selling at higher prices. indicat-
ing that local investors are taking more
interest in it than they did for a long
time after the annual meeting.
Washington Railway & Electric com
mon, appeared in the list for the first
time in many weeks, small lot chang
ing hands at 575. Railway & Electric
preferred moved at 961a. National Bank
of Washington sold at 307. Firemans
Insurance Co. registered 4oA, Federal
preferred. 101. Merchants Transfer &
Storage common sold at 125 and 12434
and the preferred at 100.
Georgetown Gas SIS sold at 100, Wash
ington Gas IS, series B, at 103. The Sc
ries bonds moved at l02 in tiny de-
nominations, and $4,000 Capital Trac.
ton SIS closed the bond market at 9712
Bethesda Bank Elects Director.
E. Taylor Chewing, president of the
United Clay Products Co., which has
its main Offices in the Investment
Building in this city. has been electec
a director in the Bank of Bethesda. Mr.
Chewing is vice president of the Hud'
son Brick & Supply Co., the plant be-
ing situated on Bladensburg road, anc
is president of the Continental Cha!
Products Corporation which has fac
tories in Pennsylvania and West Viz
ginia and Offices in Washington, New
York and Pittsburgh.
Mr.. Chewing is a director In thu
Bank of Commerce g. Savings, thi
city. and also a director in the Fedora
Security & Mortgage Co. He belong
to the Masonic Fraternity and the XII