Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-06


1000 ana l 500 OF E 81
the leading bank n
ers in the East to $A
Washington. 1A<--- & a AAsasEza'
The conference Robert v Fleming.
comes under the
bank management commission of the
American Bankers Association and the
territory which will be represented here
includes New York State, Delaware,
Maryland, Pennsylvania, New Jersey,
Virginia, West Virginia and the Dis
trict of Columbia The importance Of
the conference is shown by the fact
that there are 1850 banks in the above
division
President Lanier P. McLachlen of the
District Bankers Association, has APP
pointed Robert V. Fleming, president
of the Riggs National Bank, to act as
chairman Of the local committee to
arrange the conference details. Mr..
Fleming will select his assistants He
was president of the local association
two years ago and at that time bank
management was being given particular
stress. 1t is felt, however, that present
conditions make the subject even more
important this year.
The convention. or conference, was
held in Philadelphia last year and at
tended by 1900 bankers. 1t is a strict
~ business affair and no banquet or
other entertainment features are plan
ned. 1t will be the first conference
held here by a national association
group since 1927, when the Eastern
Regional Savings Conference convened
in the Capital.
Committee Members Named.
julius I. Peyser. who was elected
temporary chairman of the Committee
of Business and Professional Associa-
tons organized in the Senate Office
Building at the call of Oscar Brinkman,
secretary TO the Senate Committee, TO
consider pending legislation relative to
the District of Columbia, has an
nounced that the organizations have
appointed a committee to prepare a
draft of bill to regulate foreclosure of
mortgages and deeds of trust. c. Gin
ton James. lawyer, representing the
Council Of Building and Loan Associa-
tons is chairman.
other members of the committee:
Stanton G. Peelle, lawyer, representing
the Bar Association; Alfred II. Lawson,
vice president of the Washington Loan
6 Trust Co, representing the Real Es-
tate Board: Miss Elizabeth c. Harris.
lawyer, representing the Womens Bar
Association; Francis G. Addison, jr.,
president of the Security Savings &
Commercial Bank, representing the
Bankers Association of the District of
Columbia; Joseph A Burkart, lawyer
representing the Board of Trade, and
Thomas z. Lodge, representing the Fed
Grafton of Citizens Associations.
The committee, in few days. will be
ready to submit TO Mr.. Brinkman the
first draft of the said bill.
s5,S92,26l Being Spent Here.
In a letter to stockholders, President
Frank L. Dame of the North American
Co. reports expenditures by subsidiaries
totali1g $50 1893 588. Of this amount he
struction in the District Of Columbia.
He continues:
An additional generating unit of
10000 kilowatts capacity ana auxiliary
equipment is now in process Of installa-
ton in the Benning steam electric
power plant Of Potomac Electric Power
Co. at Washington. Upon completion,
about the middle of 1881, the plant will
have total capacity of 208. 1000 kilowatts.
Construction is ahead of schedule on
the new Office building, to be occupied
by Washington Railway & Electric Co.
and Potomac Electric Power Co, and
on the new electric operating service
building and the new bus garage The
Office building VIII be completed about
February ! and will replace the present
structure, which is to BE- taken over as
part of the Federal Governments build
Ing program"
Electric output of the North American
Co.'S subsidiaries for the II months
ended September 80, 1880, showed an
increase Of 3.37 per cent over the out
put for the II months ended September
80, 1929, and an increase Of 1881 per
cent over the output for the II months
ended September go, 1923.
Peoples Drug Stores Outlook.
M H Gibbs, president Of Peoples
Drug Stores, Inc, reports that the
financial position Of the company is
now stronger than it was a year ago.
In letter to stockholders he adds:
Although parts of the territory serv-
ed by the company have experienced a
severe industrial depression. the COM
pany as whole has been able to main
tain and develop its business in an order
1y and conservative manner and has re-
tanned its staff OF competent employees
without having TO resort to reductions
in rates Of compensation.
AT September 30, 1929, the com4
pany was operating Ill stores and at
September go 1890. the number had
been increased to lib, net increase
during the II months period of seven
retail stores. Although no predictions
can or will be made as TO the possibili-
ties of the future, your officers are
looking forward 70 the year 1881 with
confidence and optimism"
Cleaned in Financial District
Several special guests Of honor have
been invited to attend the joint dinner
meeting this evening of the fiduciary
section of the District Bankers Asso-
citation and the District Life Under
writers Association at the Willard
The council Of the District Bankers
Association has adopted a resolution
thanking Postmaster Mooney for his
able assistance in the distribution of the
Christmas savings checks.
Invest in haste and you will have no
leisure. says a banker. So often savings
of a lifetime are invested without the
investor taking proper precautions, and
he wakes up to find his money gone.
Then instead Of life of leisure. as he
had hoped for he must start all over
again and spend the rest Of his days at
work with nothing but regrets TO pay
for his failure to follow the advice
Before you invest, investigate"