Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-27
BANK COMMITTEE
members NAMED
Head of Safe Deposit Section
Appoints Aides for Pres
81 ent Year.
By EDWARD q. STONE.

-
BY EDWARD G. STONE.
Frederick n. Cox, chairman of the
safe deposit section Of the District
Bankers Association, has named the
following standing committees to push
the work of the section during the
present year, the members having been
named and elected at meeting OF the
executive council:
Committee on Standardized Safe De-
post Forms-William H. Harper, chair
man, Washington Loan & Trust Co.;
Harry P. White, American Security &
Trust Co.; Guy D. Cowl McLachlen
Banking Corporation; Miss Elizabeth
H. Bogley, Merchants Bank g. Trust
Co.; William L. Ashdown. Northeast
Savings Bank, and John d. Leonard,
Washington Savings Bank.
Committee on Standardization OF Safe
Deposit Practice-Albert E. Fisher,
chairman. Riggs National Bank; Rich
ard E Harris, American Security &
Trust Co.. G. M. Ashton, Munsey Trust
Co: w. Clarence Miller, National Bank
OF washington: John E. Woltz, National
Metropolitan Bank, and Charles W..
Haas, Union Trust Co. @
Committee on Education and Pub
1icity-Robert H. Lacey, chairman. Co
lumbia National Bank; Arthur p. Miller,
Reed, Lincoln National Bank; T. Edwin
Norris, Mount Vernon Savings Bank,
John M. Boteler National Savings &
Trust Co.: Elmore T. Burdette, Poto-
mac Savings Bank, and T. Hunton
Leith, Security, Savings & Commercial
Bank.
At the October meeting of the Sec
ton at association headquarters, in the
Becker Building, numerous matters of
vital interest to the member banks
were talked over. Committee reports
were presented and discussed and fur
Their plans completed for an active
year. The next meeting will be held on
November 26. Joseph D. Yerkes is vice
chairman of the section and Hans w.
Ireland, secretary-treasurer. Mr.. Cox,
the chairman, is cashier Of the Com
mercial National Bank and last year
was the associations chairman OF the
Committee on Standard Banking Forms.
Sees Turn as 1881 Begins.
Col. Ayres, in explaining his belief
that business will turn fox, the. better at
the beginning of 1881, SAID recently:
"I do not think business Is going TO
get worse. do not think 1t is prompt
" going to get much better. I think 1t
Is going to start its real and definite
recovery just as that period starts, in
the beginning of 1881, when those po-
tent stimulants of better business,
building construction and automobile
manufacture normally receive the maxi
mum of their seasonal stimulus.
eff they are going to come up appre-
Gladly at all next year, we are going
to see it there in the Spring OF the
year. There are special and valid rea-
ons why such things as new building
construction and the manufacture of
automobiles are potent helps toward
robust and definite business recovery.
] do not think they are going to be here
in great and exceptional volume next
year, but I think with the stimulus that
comes from them and with the fact that
we have been growing very short indeed
on new building and manufacture OF
automobiles this year there will be
enough of a start to come out Of them
in the Spring Of 1881 to start and carry
forward real and endurable business
bettarment.
aMy own picture Of that is that it
viii not be very vivid, that we shall
not 20 mounting back quickly and cas-
lily TO any renewed period Of prosperity,
but rather that by the final part, the
closing months Of 1881. business VIII
on>e more be back to what the stats
tician calls normal.
More Building Activity Noted.
Estimated costs of building opera
tons in September showed an increase
of ga per cent when compared with
August, according to reports received
from principal cities throughout the
country by the Bureau OF Labor Sta
tistics.
In commenting on the increase, the
bureau declares that the upward trend
In September is decidedly unusual, as
ordinarily building permits in this
month total less than those Of August.
Estimated cost Of building operations
for which permits were issued in 29l
cities during September totaled SILL
74S,370 as compared with $13S,l55,S0o
IN August. Residential building In
September totaled $52,773,574 against
S5L604973 in August, or an increase
of % per cent while non-residential
building estimates during the month
amounted to Sta, $50, 265, as compared
with $67.054,7 TOO, or an increase OF 9.S
per cent.
Trading on d. C. Exchange.
In light trading on the Washington
stock Exchange today Washington Gas
Light SIS sold at 1854, Washington
Gas Is, series B, moved at 106, and
Potomac Electric Power Consolidated
6s changed hands at 103. In the stock
division both Potomac Electric Power
preferred issues appeared on the board,
the So per cent stock selling at 108h
and the 6 per cent preferred at 1l13.
Thirty shares of Carpet Corporation
sold at % and so more shares at 231e.
Merged Banks Employees Meet.
The Federal-American Club, made up
of Federal-American Bank employees,
held their annual Halloween dance and
card party Saturday evening in the
directors room at the bank. The en-
ployes of the Merchants National Bank
& Trust Co., which recently merged
with the Federal, were invited, the gath
ering numbering $50. Walter L. Sand
erson is president Of the club and
Harmon K Warner was chairman Of
the Committee Of Arrangements.
Heard In Financial District.
Edward L. Hillyer, vice president Of
the Union Trust Co., is passing his
annual vacation at Blowing Rock. N. C.
Letters have recently been received
from the American Bankers Association
and the Financial Advertisers ASsocia-
ton highly praising the Advertising
Committee Of the District Bankers As
ISOLATION for its splendid success in
conducting cooperative advertising
campaigns.
Dispatches from Chicago state that
b. J. Pickens, vice president Of National
of the Jewel Tea Co., have been added
to the Chicago Creditors Committee Of
Prince & Whitley. Up to present time
more than $50 claims have been filed,
the report adds.
The 80 largest banks in the United
States held on September "a, 1880, de-
posts of $14,256, 066 573, as compared
with $14 5,978.1 1875 on December 81,
1929. and $4,000, 897. 800 year ago.