Evening star., 1929-06-24
D. c. BANKERS HOME
FROM CONVENTION
Annual Meeting at Montauk
Point Proves to Be Big
Success.
By EDWARD c. STONE.

By EDWARD c. STONE.
Not since the days when the Indian
roamed Mor1tauk Point, OCCASIONAL.
scalping some financier or other earl.
settler, has q better banking conven
ton been held in that region than tn,
one Just concluded by washington bank
ers, in the opinion of those same bank
ers who reached home this morning
arriving at the Union Station an houl
late on account of a bit of engine trou.
bic. The discussions on bank manage.
ment were of both local and genera
interest and the reports of special COM
mittees brought out many intensely in.
teresting facts on business and finance
in the District.
Robert v. Fleming, VINO gave unlim-
1ted time.@to the associations affairs
during the year, retire0 amid blaze Of
glory and Wilmer j. Waller and the
rest of the new officers were escorted
to the platform amid vigorous applause
The attendance this year was not quite
up to last year--2l9 against 244-due ia
the fact that about 20 bankers wives
who looked Montauk over thoroughly
last year, basked in its bracing ocean
air and viewed its charming scenery,
were not aboard the special this year.
There were, however, l8 bank presidents
at the conclave, probably record.
Contests on Links Very Close.
Owing to tie scores some of the con-
tests for gold cups were not decided
until the last day. As the scores finally
stood the Pop" Fleming Cup went to
Robert v. Fleming, with a second prize
to Clyde B. Asher, third to Henry W.
Offutt and fourth to Herbert T. Shan
non.
The w. B. Hibbs Cup was won by
Raymond l.. Schreiner; second place
taken by Charles H. Doing; third, VII
r1er ]. Waller. and fourth, Raymond I.
Wise. The Herbert T. Shannon Cup
was captured by Walter w. Schneck-
enberger Second prize went to Roger
j. Whiteford, third TO w. w. Spaid and
fourth to N. N. Wright and Frederick
II. Cox on q tie.
The winner of the Lanier p. McLach-
len Cup was A.. L. Baldwin; second,
Commissioner Sidney F. Taliaferro,
ley tied for third. The ladies' outdoor
putting contest was taken by Mrs. Her
bert T. Shannon: Mrs. Clyde B. Asher
second. The indoor contest was cap
tured by Mrs. John Poole. with Mrs.
A. L. Baldwin and Mrs. II. w. Onutt
tied for second. -
The gentlemen's putting contest was
won by Nathan Poole, with second prize
going to Charles C. Lamborn. The
newly offered Richard Hatton Golf Cup
was carried OF by James H. Lemon,
who was forced to break . tie with
G. H. Pope
The Coleman Jennings tennis prize
went to Thomas j. Mangan, jr., who
defeated Stanley Carr The winners Of
other cups have already been an
nounced. The presentation of awards,
made by Chairman Cox, was one Of the
features of the family dinner.
Reserve Board Secrets Retained.
Bankers who held their breath dur
Ing the family dinner to hear some in
side information from Gov. Roy A.
Young as to whether the famous board
has lifted the pressure on the credit
situation must now be about out Of
breath. The governor did not see At to
make even the slightest mention Of the
doings of the board.
glowing tribute at the dinner to Past
President Fleming and to that brilliant
and distinguished financial writer, T. A.
Fleming" With the head of the Reserve
Board present, Gov. George j. Seay Of
the Reserve Bank of Richmond also re-
mained neutral as to what the board
may or may not do next. Instead, he
congratulated Washington banks on
their splendid growth and prosperity.
:, During one Of the business session
the associations counsel Frank ].
Hogan, was called upon. He had been
highly praised for his part In obtain
ing tax relief for the local banks In
replying to this he lauded his asso-
ciate, William II. Donovan, for his able
assistance. In conclusion, he humor-
ously declared that about all the
Washington banks seem to want or
need Is larger deposits and fewer losses,
larger profits and higher salaries. Tre-
mendous applause followed as he said,
II hope you'll get them all"
Some Special Incidents.
:. Two particularly interesting events
were the election of a member from
the District to serve on the executive
council Of the American Bankers AS
sociation. In choosing Francis G.. Ad-
olson, jr., the delegates selected q for
mer association president, one of the
most valuable committee workers and q
highly eficient banker. Mr.. Addison
receiped most hearty congratulations
from his associates as the convention
closed.
The, other incident referred to was
the practical selection of q president
70 serve the association four years
hence. C. H. Pope was started up the
ladder as secretary, succeeding Z. j.
McQuade, now second vice president
According to the aSSociation'sa present
policy, the vice president of the Munsey
Trust Co, will be at the top In a sur
prisingly short time. AS general con-
ventlon chairman this year he served
the association most satisfactorily.
Much more might be said of the con-
vention which has now passed into his
tory. Since last year $4,000 900 more has
been spent on the Montauk develop
ment by Carl G. Fisher. New roads,
water mains, indoor tennis courts, a big
swimming pool. progress on q yacht
club and completion Of the Island Club
are among the changes. The Island
Club was thrown open to the visiting
bankers and proved a revelation.
The annual meeting of the stock
holders Of the American Fire Insurance
Co. Of the District of Columbia, at 5ll
Seventh street, on Thursday last re-
suited in the election Of the following
as trustees Of the company: Charles
Schafer, Victor B. Deyber. Max Walten
Harry M Packard, Francis A. Bhin-
don, Carl j. Bergmann, A. r. Jorss
H. H. Bergman and G. NJ Emmerich
At the meeting for the reorganiza-
ton Of the company the following day
Charles Schafer was elected president
Francis A. Blundon vice president. II
H. Bergman treasurer, G. NJ En-.
nerich secretary and r. p. Ehlers as.
sistant secretary.
SmaH-LOt Sales in Market.
Small-lot sales predominated on the
Washington Stock Exchange today
Capital Traction figured In eight trans.
actions involving about 100 shares, tht
stock opening ex-dividend at 92R ant
closing at 92ls. Potomac Electric 8 pei
cent stock moved at 112 and the S Pc
cent preferred at 107A. Mergenthale
sold ex-diyidend at los for so shares