Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-06-29
LONSDALE'S VIEWS
ON TRADE OUTLOOK
AROUSE COMMENT
President of A. B. A. Believes
Harvesting Time Will Be
Signal for UpsWing.
TELLS VIRGINIA BANKERS
ALERTNESS is VITAL
Says Association Has Reduced SO
Ways of Computing Interest to
Four Methods.
BY EDWARD C. STONE.

John G.: Lonsdale's prediction before
the Virginia Bankers Association al
time, as it Is always ahead of business
improvement will commence in Sep
TENDER, when new wealth from the
years crops is taken out of the ground
has aroused great interest among
Washington bankers. The president
Of the American Bankers Association
Is in a particularly good position tc
study financial conditions all over the
country.
by Autumn the business barometer
should indicate calm, fair weather
ahead" he asserted. "I am inclined
to think the storm of the past few
months is about passed and that the
sun is already peeping through in spots
September, 1929, really ushered in the
recession, so that to be fair, compar-
isons by months should start with Sep
TENDER of this year."
Several local bankers believe Mr.
Lonsdale is right in his forecast. All
hope that he is. W. B. Hibbs, dean OF
Washington brokers. remarked the
other day that business would improve
after the Fall elections. The stock
market should do better before that
time as it is always ahead of business
in diScounting future changes, he said
Thus both bankers and brokers see
better times coming in the Fall.
Mr.. Lonsdale told the Virginia bank
ers that prosperity, as we all have
learned, is an elusive thing and fits
away rather quickly and mysteriously
unless we keep an eye continually on il
and the factors that produce it. Pros
perity some seem to think, is a one
way street, but they have now discov-
cred traffic moves over 1t in both di-
rections. America had just begun tc
believe it had found the formula fol-
continuous good times when our de-
preston came along. Finding our
hopes and beliefs shattered, we now
always to be prepared for emergencies.
Alertness Pays Huge Dividends.
Business has demonstrated the fact
that alertness pays huge dividends
that to sit down with folded hands and
wait for customers without going after
them is good way to let your rival get
all the trade. Too often a business
man who calmly waits for his ship to
come in finds it to be receivershir
when it arrives in port.
In these days of business complexities
some seem to think that the day of the
individual has passed. But they are
wrong. While the individual may not
attract such outstanding attention as
he did in the days of old when institu-
lions were conducted on a smaller
scale, he nevertheless Is to be found in
any large corporation, dominating the
situation, giving orders here, co-operat-
ing there and shouldering the respon-
Sibility of keeping a large group OF
= heutenants, captains and privates work
ing in unison and moving forward I'M
der the banner of progress. And all of
these are held accountable to the pub
lie because the public has entered into
q partnership agreement with the cor
poration through purchase of stock.
Even in the. gigantic mergers that
have taken place within the last two
years there remains more than ever
the necessity for a leader, an agrees
sive personality whose duty it is to see
that basic principles are not forgotten,
that the rights and privileges of the
individual workers and the customers
they serve are as well provided for as
in the smaller business units.
by focusing the Illuminating light
OF analysis on all our business we bank
ers can soon determine whether we are
losing or gaining ground. Many bank
ers, like Ichabod Crane, need the fash
light, or microscope of analysis, to I'M
cover the hobgoblins in their business
and then they might sit back and laugh
at their rivals, who hesitate to investi-
gate and learn the truth.
A. B. A. Guides 10000 Bankers.
Fortunately for American banking,
the application of the microscope to
vital problems is not left entirely to the
individual, for there is "a powerful re-
search laboratory working constantly
In his interest. I refer to the American
Bankers Association, which is daily
submitting do
partment of banking to searching scru-
tiny and study. The findings of these
investigations are made available to
the 10000 members of the organization
for their guidance.
investigations have resulted in the
passing of beneficial legislation, revision
OF banking practices and innumerable
= changes Cor a strong$t and more eff
cient banking structlse.
I'm the savings ned, for instance. IL
was revealed that there were SO ways
OF computing interest. BY careful Selec-
tion,. these were reduced to four ap-
proved methods.
"In the battle that is being waged for
Justice and equality in taxation our as
ISOLATION always has stood at the front
where the fighting is heaviest. Realizing
the right of taxation is a sacred one
and comes next to an individuals liber-
efforts to equalize excessive burdens and
place leVies on a fair and impartial
basis.
Thinkers Banking'S Great Need.
"The fact that our problems are thus
! being placed daily under the microscope
by large association does not relieve
the individual banker of his RESPONSE
bilities. He must apply the formulas
and principles of these findings ITO his
own institution. This requires q great
deal of study and thought. From my
9Yn observation, you can lead a man ia
facts, but you can't make him think
he has TO do that for himself Although
the world is supposed to be run by
thinkers, 1t is a lamentable fact that
only small percentage of the people
really think
with banking conditions of today In
a state of great uncertainty. there never
was time when analysis and deer
thinking were more needed in both
country and city. The smaller banker
upon whom have fallen many difficult
burdens, Is placed at distinct diSad-
vantage in the making of analysis, ano
city correspondent banks and bankers
associations should do all in their power
to assist him. -
ITO the smaller banker extend full
sympathy and praise, for he has beer
the mainstay of agriculture. at time
when it has suffered Q serious nationa
decline. It has been his responsibility
too, to bear many OF the tribulatiopl