Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-12

few years and commented on the large
number of failures of small banking
institutions. Speakers also touched on
the Nationwide tendency toward mer-
gers OF small competing banks into
strong institutions.
Another matter of interest was a
discussion of bills pending in Con-
gress having in view a larger distri-
button or Reserve Bank earnings among
the member banks.
Gov. Seay Reviews Business.
Gov. George j. Seay discussed the
past years operations of the Federal
Reserve Bank of Richmond and made
interesting comments on business con-
dltions in the fifth district, which serves
Virginia, North and South Carolina,
West Virginia, Maryland and the Dis
trict of Columbia.
Fountain Fox Beattie, president of
the First National Bank of Greenville.
S. c., was elected president; Henry H.
Mckee. president of the National Capt.
tai Bank of Washington, was named
vice president and George H. KeeSee,
cashier of the Federal Reserve Bank of
Richmond, was again honored with the
post of secretary.
White on Advisory Committee.
Seven men were elected to the ad-
visory committee. They are: ]. Frank
White, cashier of National Bank of
Washington; w. B. Copper, president of
Third National Bank. Chestertown, Md;
S. N. Boyce, vice president of First Ma
tional Bank, Gastonia, N. c.; j. r.
Turnage, president of First National
Bank, Ayden, N c.: o. Jay Fleming,
vice president of First National Bank,
Grafton, w. Va, and Burnell Sloan,
vice president of National Loan & EX-
change Bank, Columbia, S. c.
In addition to Gov. Seay. speakers
Yesterday we're w. w. HoXton, chair
man of the board of the Richmond Re-
serve Bank. who delivered the address
of welcome: Waldo Newcomber, Balti-
more, president, who made the annual
report: D. r. Coker, Huntsville, S: C.,
who spoke on agricultural conditions,
and E. p Vandxer, Anderson, S. c.,
chairman of the advisory committee.
Buying Larger Policies.
Records of life insurance companies
indicate that larger policies than in
earlier times, are the rule. One COM
pany announces that its volume OF writ
ten business during March exceeded that
of March in 1929 by 81 per cent and
reached the highest total of any month
of production in the entire 78 years
that the company has been in business.
Another company reports that the aV-
erage size of all policies written by 1t In
1910 was $2,100. In 1920 the figure had
increased to $2,400 and for 1929 the
figure had grown to 1896.
Church Stock Manager.
Kortright Church has taken over the
MANAGEMENT of the stock department OF
the local Office of Mackubin, Goodrich
6k Co. The new department head Is
well known in Washington, having been
born here and educated at Western High
School, where he distinguished himself
in athletics. He was also varsity man
at Exeter and won his letter on the
Yale base ball team During the war
he served as a captain in the Marine
Corps. He was formerly with Smith,
Graham & Rockwell.
Heard in Financial District.
President John B. Larner of the
Washington Loan 81 Trust Co. left
washington Yesterday for Hot Springs,
Va. where he plans to take short va
cation, returning in about 10 days. Mr..
Iarner has had an exceptionally active
Winter and has been very closely held
at his desk.
Local bank clearings during the past
week totaled 500. 100000, against S29,-
$4,000 last week This is decrease
of 48 per cent in clearings compared
with the corresponding week year ago.
An analysis of General Motors COM
mon stock is published in the current
Financial & Economic Review, issued
fortnightly by j. A. w. Iglehart &c Co
The publication also discusses Melville
Shoe common stock.
The Federal Reserve Banks Of At
lanta and st. Louis have reduced their
rediscount rates from Az to 4 per cent,
the head office of the Reserve Board
announces.