Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-05-25
BRANCH AND GROUP
BANKS BIC ISSUES
AT STATE MEETING
Boyce Tells Maryland Finan-
ciers Both Systems Have
Brilliant Futures.
BRANCHES BEST IN CITY,
GROUP IDEA IN COUNTRY
Association Also Urged to Seek
Much Closer Harmony With
Farming Interests.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Branch and group banking loomed
large in the discussion at the annual
convention of tie Maryland Bankers
Association. Hayward E. Boyce of Bal
timore, one of the leading bankers in
the State, declared that both branch
banking and group banking have great
future. So far, however, branches in
communities far away from the home
Office have not proved profitable or
practicable.
"A bank is an indissoluable part of
the community he said, land its
successful operations depends upon its
knowledge of local conditions" For tina t
reason he sees branch banks which are
long distance from the home offices
facing a problem very difficult to over
come. In his opinion the success of
branch banks lies largely in the big
cities in which the parent banks are
located.
Mr.. Boyce added, however, that the
gIoup banks are working to overcome
this obstacle and in the future, he be-
Heves, this type of banking will be car
ried on successfully. Branch banking,
group banking and unit banking came
in for their full share of attention, all
having most ardent advocates. That the
revolution, in present banking methods,
was the general conclusion reached.
Mr.. Boyce turned from his remarks on
banking systems long enough to de-
clare that he believes the Nation is re-
gaining its stride in business and that
prosperity is indicated by banking
figures. More money is now being de-
posted in banks he said, land people
are seeking fewer loans because of their
timidity since the depression" He pre-
dicted an early return to normal bust
ness.
Harmony With Farmer Urged.
big business and banks are usually
associated together" Judge Frank I.
Duncan of Towson, Md, declared at the
same convention, at Atlantic City, but
for the future Of the Nation and the
banking business we must seek har-
mony with the farmer. A great volume
of the Nations business is done di-
rectly and indirectly through the agri-
culturists."
.r'-Agc Duncan said the agricultural
c~---.-----ee had confined its work largely
10 the youth of Maryland and that it
had sought to iYistill q renewed interest
in agriculture by teaching the boys
modern and scientific methods of farm
ing.
The legislative committee, through its
chairman, Webster Bell of Baltimore.
reported that a bill would be presented
to the next session of the Legislature
to legalize bank transactions on Sat-
urday afternoon and that the bill would
contain clause which would not make
1t necessary for banks which usually
close Saturday afternoons to remain
open.
Another bill which the committee will
propose is one to reduce bank taxes
through a change in the present sys-
tenn Of taxation as 1t applies to banks.
stock, net earnings and assets. The
committee proposes that the State tax
nnlv the banks stock values.
"A third message sponsored by the
committee aims to obtain higher in
terest rate than per cent on demand
loans in excess of $4,000.
New Chaplin Sacks President.
At meeting of the board of directors
OF Chapin-sacks Corporation at the To-
cal Offices Friday afternoon, the resig-
nation of E. S. Perot, jr., was accepted
and e. j. Mather of New York was
elected president in his place. Mr..
Perot has been made chairman of the
board of directors of Southern Diaries,
with which Chapin-Sacks Is closely af-
filiated.
e. J. Mather is one of the leading'of-
ficials in National Dairy Products which
now controls Chapin-Sacks and South
ern Diaries. Several months ago Kraft
Cheese secured control OF Southern
Diaries. Later National Dairy Products,
which has been pushing an expansion
plan with great rapidity, secured con-
troll Of Kraft Cheese.
BY this move National Dairy Prod
ucts came into control of Southern
Diaries and also of Chapin-Sacks. The
same corporation also controls the
Chestnut Farms Dairy Corporation of
this city as one of its many units.
Chaplin Sacks, under the leadership
of E. S. Perot, has made an unusually
good showing in expanding the business
and increasing earnings.
ID. C. Convention Call Sent Out.
Chairman George o. Vass announced
yesterday that the publicity committee
had sent out the third announcement
regarding the District Bankers Asso-
citation convention to be held at Ashe-
vile. N. c.. June 5 to 8.
This call" as it is termed, contains
a vast amount of detailed information
for the delegates and friends regarding
dining car arrangements, shipment OF
trunks, ETC., of interest only to those
who are to make the "Skyland" visit.
Incidentally Chairman VasS reported
that reservations so far received by the
TRANSFORMATION committee have exceeded
those received on all previous years or
the same date. This bears out the ex-
pectation already voiced that the at
tendance will make a new record.
Financial Giants May Be Queens.
do not minimize the Importance OF
women in modern fiance," Thomas
Tenple Hoyne, Chicago economist
warned the representatives of the Asso-
ciated Stock Exchanges, in an address
at their fourth annual convention al
Minneapolis. THE great money poten.
tates of the future may not be kings
but queens.
I'm 1926. women making individual
returns paid taxes on SO ,297 SGT ,098
individual men, including those report
ing as heads of family, paid taxes or
s4,741, 136,177, ratio of approximately
Al per cent to 81 per cent. Women COM
pose the majority Of stockholders ii
many great companies. They make III
more than so per cent of the 10000
stockholders of the American Telephone
g. Telegraph Co, the largest anc
wealthiest corporation in the world
They are benefciaries in 30 Per cent q
the 100000. 000G00 of life insurance
policies in force al the United States
are inheriting 10 per ;ent Of the es
tates left by men and "a per cent o
the estates left oy women.
lone fanciful Statistician has calcu
lated that if women maintain their pres
ent rate of ascendent'y all the wealth
Of this country will be in feminin'
hands by 2025." -