Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-26
S|DDONS IS NAMED
CHAIRMAN FOR D. c.
. BANKERS MEETING
Appointee Has Been Active
in Affairs of Association.
Record Given.
TRADING ON EXCHANGE
IN MODERATE VOLUME
Capital Traction Stock Continues
to Feature Market, Closing
at 80 IA.
BY EDWARD C. STONE.

President Lanier p. McLachlen oil
che District Bankers Association yes
terday announced the appointment Of
Frederick p. H Siddons, secretary OF
the American Security & Trust Co., as
chairman of the General Convention
Committee for the 1891 annual con-
clave. The convention takes place In
June, but it has become customary to
make this appointment far ahead OF
the event In order to give ample time
for the extensive preparations. The
four-day sessions make up the most
important gathering Of local bankers
held during the year.
Mr.. Siddons, the newly named chair
man, has already done q great deal of
work for the association and is one of
the most active Of the younger bankers
IN Washington. He was born on No
vember 8, 1895, In this city and is the
son of Justice Frederick P. Siddons.
e After attending the public schools he
graduated from Western High School in
1918, later going West to the Univer-
eity Of Wisconsin, receiving his A. b.
degree In 1920. After entering the
banking field Mr. Siddons decided he
wanted a knowledge of law and at
tended National University Law School,
from which he received his degree in
1923.
when the World War came on Mr.
Siddons entered the Field Artillery.
serving in this branch of the service
from June /, 1917. to September. 1919.
being O second lieutenant at the time
of his discharge. He entered the en-
ploy of the American Security & Trust
Co. on March "a, 1920. Two years later
he was selected manager of the new
business department, elected assistant
secretary in January. 1924, and secre-
tary In January, 1926.
! His service on standing committees
of the District Bankers Association in
cludes q years Craftsmanship Of the
Committee on Commercial Trade Ac-
tivities, chairman Committee on 1nsur-
ance, first chairman fiduciaries section
and present Craftsmanship Of the Pro-
tective Committee. He has also served
rs o member Of many other commit
tees.
Much Other Service Rendered.
In connection with previous con7en-
fions, Mr. SiddonS has also rendered
conspicuous service. He was vice chair
man Of the General Convention Com
nittee in 1880, chairman of the Program
Committee in 1929, vice chairman Of
the same committee in 1928, chairman
OF LIE EuDllCAky 4OA tWO
years, as well as being q member OF
several other committees. Incidentally,
he Is one Of the trustees Of the Better
Business Bureau and q member OF its
Executive Committee. member Of the
Board Of Trade, Chamber of Commerce,
University Club. Columbia Historical
Society, legal fraternity Of Sigma MI
Phi and the zeta Psi Fraternity.
Following the custom which has pre-
e.
will be elected secretary OF the District
Bankers Association at the next con-
vention. That is the first rung of the
ladder which leads to the presidency.
1t takes four years to climb 1t. as the
secretary becomes second vice president,
first vice president and then head Of
the association.
Last years convention was held at
Grove Park Inn, Asheville, N. Q. The
ftwo previous conventions had been held
at Montauk Point, Long Island. Four
years ago the convention was held at
Hot Springs, Va. The place of holding
the next convention will no doubt be
settled in the near future by the coun-
Gil of administration in order that the
dates may be reserved for proper hotel
accommodations
ID. c. Stock Exchange Trading.
Trading on the Washington Stock
Exchange yesterday was in moderate
volume and confined to limited num-
Der Of issues. The most important
transactions of the day took place in
Capital Traction stock, which closed
the week at sou, the same as Fridays
closing quotation. The days sales in
this issue reached los shares.
Washington Railway & Electric pre-
ferred, both the Potomac Electric
Power preferred issues, National Mort
gage & Investment preferred and ReaI
Estate Mortgage & Investment pre-
ferred recorded sales during the session
The only bank stock out was Nationa
Bank of Washington, and bond trading
was confined TO two issues. The share,
traded in and the prices follow:
Barber e. Ross 61zs-$1 900 at 81.
Capital Traction Co.-10 at 50H, u
at 50A, 10 at 50H, 10 at 5oh, 20 al
500, S at 5014, 20 at 5oA, 10 at 50A
Potomac Electric SO pfd.-5 at Ill
Potomac Electric '5h% pfd'-5 a
National Bank of washington-1o a
Sational Mtge. g. Inv. pfd.-4o at S
Real Estate Mtge. g. Inv. pfd-5o a
washington Rwy. 81 Elec. pfd.-1'
Potomac Electric es, 1s5s-sloo a
1o5.
Calls Pessimism Unwarranted.
The present depression, in the opin
ION Of Melvin A. Traylor OF Chicago
former president Of the American Bank
ers' Association, who has many friend
among Washington bankers, is only |
repetition of what has happened be
fore. following abnormal boom periods
AS has always taken place, there will b
a recovery from the present period, ono
sufficient thought, translated into &C
ton, is accorded the problem, he says
what is most needed is normal con
duct by business leaders" he stated
IAN inflated period has followed abnor
NAL conduct, mostly in buying beyon'
present needs and pocketbooks, and tn
situation must be Debated. I do no
think this correction wholly accom-
plished.
sat the height Of the boom our psy
chology was all wrong, but today's pes
gimisn Is as unwarranted as UNDUE op
tirnism of 1928 and 1929
II do not think we can proftabiy sc
up artificial methods to help. Unrea
sonable anticipation Of future need
would only create a vacuum when tim
came for those needs normally TO :
filled.
II am not pessimist and don't war
2 a. "a nrxae%xaaAd "a ggYeh This COuntF