Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-06-06
b. liking INSTITUTE
| NAMES DELEGATES
Washington Chapter to Send
/ Nine Delegates to Dem
YER Convention.

washington Chapter. Institute o
Barking. will be we'll represented at tn
annual convention Of the American In
stitute of Banking section Of the Amer
Scan Bankers Association to be held II
Denver June 16 to 20s
Nine delegates will 60 from Wash
inrton, planning to leave the Capita
next Friday and join the groups IRON
Baltimore and Richmond on q specla
train.
The washington delegation will con
aist of T. Hunton Leith, who has helC
all offices in the local chapter and nov
is a member of the national executive
committee of the institute; Frank a
Perley OF the American Security q
Trust Co.. who is president OF tht
Washington chapter; Miss Rose Royce
of the Washington Loan q Trust Co
who is secretary of the institute; A O
pooley Of the Federal-Amerlcan Ma
tional Bank, vice president OF the cnaP.
ter; w. @. Barker, Morris Plan Bank;
II. T. Bisselle Riggs National Bank
A. M. MENUS, vice president, Riggs Ma
tional Bank: w. P. Keith, American
Security g. Trust c., and j. Z. McGeary
w. B. Hibbs 81 90.
Convention Features.
Among the IcdluICS VI bAlC OOANCA~
ton, as made public today by the
American Bankers Association will be
a national public speaking contest for
Si.1O0 in prizes given by A. P. Clan
mini of San Francisco, a debate on the
chain or group banking controversy by
teams surviving countrywide contests,
and addresses by nationally prominent
speakers.
The chief speaker before the first
V4fflI tNm
r, S. Hecht. president HiberniA Bank d
Trust Co., New orleans, and chairman
Of the economic policy commission,
A, B. A., who was president Of the
American Institute of Banking in
1oi7-1S and presided at its convention
last held in Denver In 1918.
OF special interest to the local con-
tingent will be the convention debate
on the evening of June II, when one
of the contesting debating teams will
be from Philadelphia, to debate the
chain banking question. The Philadel-
phia team, which meets team from
New Orleans, will be composed of Mel
vile M. Parker. United Security Trust
Co. of Pennsylvania; Harry c. Culshaw,
Franklin Trust Co.; Harold w. Scott,
Pennsylvania Co. for Insurance on Lives
and Granting Annuities and r. David
Conner, alternate, Corn Exchange Ma
IlOndl Bank q ".
In the period between general sessions,
comprising the afternoon of June II, the
morning of June 10, and the afternoon
of June 10, there will be departmental
conferences on practical banking oper-
atoms comprising audits and account
ing, bank administration, business de-
velopment and advertising, credits, de-
post functinos, investments and invest
ment banking, savings banking and
an TtFVHA 1 in
the morning an institute chapter ad-
ministration conference will hold an
educational session and in the afternoon
an administrative session. In the morn
ing there will also be chapter publicity
conference, a public education confer.
ence. and public speaking conference
District of Columbia Group on Trip.
Three men from this city participate
In the annual cruise of the Southeastern
Group of Investment Bankers, which
left from Baltimore last night on the
steamer Yorktown. Each year, this
group of investment bankers make a
three day trip to Virginia Beach, re-
turning on Monday morning. wash
ingtonians on the cruise include Carl r.
KurtZ of Stroud, Kurtz & Co.; John
Caswell of F. B. Keech q Co.; H. w.
Firney of Y. E. Booker IL Co.; T. C..
Montgomery and j. F. Brawner, jr., Of
Waggaman & Brawner.
d. C. Exchange Quiet.
Metropolitan Club Az per cent bonds
featured a quiet days trading today on
the Washington Stock Exchange, when
prices held steady. Starting off with
a sale of $4,000 in Metropolitan Club
at 931a, three more transactions fol-
lowed on rising market to 93%.
Manages Travel Department
Miss Marie Lorbeerbaum of Vienna,
Austria, has been appointed manager
of the travel department of the Inter
national Exchange Bank, it was an
nounced today Miss Lorbeerbaum has
had considerable experience abroad in
this line of work and Is said to be
well qualified to take care of the de-
partment.
William Frank Thyson, who for a
number of years has been identified
with investment bankers and real
estate circles here, is now convalescent
after a six-week illness from pneu-
MONA, and hopes to be able to see his
friends within three weeks.
while there are as yet no definite
signs that business recovery is to start
in the near future, there are factors
which suggest that recovery will not be
delayed many months" says the
Brookmire Analyst. THE length of
time before definite recovery sets in
will depend somewhat upon the course
of business in the meantime. II q
further readjustment downward occurs
this Summer, recovery should be Wig
orous by the end of the year, while II
business huctuates around present
levels, 1t will take somewhat longer
for the correction to be completed, ard
recovery will be slower when 1t starts.
Two important factors pointing toward
business recovery before the end of the
year are cheap money and low COM
modify prices. Cheap money alone is
not enough to cause a recovery in
business, but it is a powerful aid toward
recovery when conditions become
favorable"
Condition of Reserve Banks
The daily average volume of Federal
reserve bank credit outstanding during
the week ending June 4, as reported
by the Federal reserve banks, was
S1.035 900 900, an increase of 10000
600 compared with the preceding week
and a decrease Of 5000. 00O, 900 compared
with the corresponding week OF 1929
On June 4 total reserve bank credit
outstanding amounted to 81 ,004, 900 900
an increase of $28, 900 900 for the week
This corresponds with an increase OF
$50 ,000000 in member bank reserve bal
anceS, less increases OF $l5,O0O.OO0 IN
Treasury currency and 100000 in
monetary gold stock and a decrease OF
$4,000 900 in money In circulation
The principal changes in holdings OF
discounted bills for the week were de.
creases of S4,000,000 each at the Federal
Reserve Banks of New York and Cleve-
land and 100000 each at Boston and
Philadelphia and an increase of $4,000
900 at Atlanta The systems holdings
Of bills bought in open market increased
$4,000 600 of Treasury certificates and