Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-19
DISTRICT BANKERS
COMMITTEE CHIEF
NAMES ASSISTANTS
Cotton Plans Busy Winter
Campaign in Selecting
Aides.
EVERY PHASE OF TRUST
SERVICE is ON PROGRAM
Washington Stock Exchange Quiet
and Steady at Week End
Session.
BY EDWARD C. STONE.

fduciary section of the District Bankers
Association, yesterday announced the
membership of the standing committees
for the present year. The section plans
q busy Winters campaign, in which
every phase Of trust service offered by
banks will come under discussion. The
first meeting will be held early In
November.
Chairman Cotton, who is trust officer
at the District National Bank, has Sc
lected many bankers who are very
active in the trust end of the business
to serve on his committees. This sec
ton, together with the auditors and
safe deposit sections, was made 9 part
of the District Bankers Association two
years ago and its work has been stead
lily expanded since that time. The
enormous growth of trust departments
in banks in recent years has been one
the amazing factors In the So-called
new banking era.
The membership of these committees
and their chairmen, as announced by
MIR. Cotton, include the following
bankers:
Members Of Standing Committees.
Standardization - Kenneth Brooks,
chairman, Riggs National Bank; Bruce
Baird, National Savings g. Trust Co.;
Erskine Gordon, Federal-American Ma
tional Bank; Edward L. Hillyer, Union
Trust Co.; Stanley Holland American
Security & Trust Co.; Roger p. Hol-
lingsworth, National Metropolitan Bank;
William E. Howard, National Bank OF
Washington; Leonard Marhury, Wash
ington Loan & Trust Co.; Ralph D.
Cuinter, Commercial National Bank;
Charles D. Radcliffe, Munsey Trust
Co., and James Copper Lincoln National
Bank.
standardized Trust Forms Erskine
Gordon, chairman, Federal american
National; Harry w. Gauss, Washington
Loan q Trust Co.; Ralph w. Howard,
District National, and j. Eliot Moran.
American Security q Trust Co..
Education and Publicity Irving zir-
pei, chairman, Union trust CO.: Aubrey
D. Dooley, Federal ean National;
Edmund II. Graham, NAffDnai Bank Of
washington; Roger p. Hollingsworth.
National Metropolitan: Charles NJ.
Irelan, jr., washington Loan q Trust;
J. Frank Rice, Lincoln National; Fred
erick p. H. Siddons, American Security
81 Trust, and Thomas T. Keller,
Merchants Bank g. Trust Co.
Taxation-Ralph D. Quinter, chair
man, Commercial National: Barnard L.
Amiss, washington Loan q Trust;
David Bornet, National Savings g.
Trust: A. J. Byrne, MurSey Trust Co.,
and Earl q. Jonschef, American Secur-
aty g. Trust Co.
Trust Law and Legislation-A. A.
Hoehling, chairman, National Metro
Security e. Trust: Edward j. McQuade,
Liberty National, and Sidney r.. Talia-
ferro. Riggs National.
Life Insurance Trusts-Stanley Ho1-
land, chairman, American Security g.
Trust: ]. W. Clampitt. Union Trust;
Aubrey o. Dooley. Federal-American
National; George M. Mckee, Riggs Ma
tional. and Leonard Marbury, Wash
ington loan g. Trust Co.
Trading on D. C. Exchange.
Yesterdays trading on the Washing
ton Stock Exchange wound up the week
in @ decidedly quiet and orderly man.
ner. Prince Georges Bank g. Trust Co.
was the market leader, 100 shares in
2S-share lots changing hands during
the session at 80, the same price as pre-
vailed N q 50-share turnover Friday.
This stock Is one of the newer issues
on the exchange and for a long time
after 1t was listed recorded no sales.
Recently. however, 1t has been much
more active. Prince Georges and Bank
of Bethesda are the only bank stocks
outside Of washington listed on the
local board.
washington Railway g. Electric pre-
ferred sold yesterday to the extent Of
Is shares at 98%. Earlier in the week
this issue figured in a record turnover,
but the price held firm. Some market
observers refer to it as the best stock
on the local exchange.
Mergenthaler Linotype sold yesterday
at e1h, and Terminal Refrigerating &
Warehousing Corporation moved at Al.
Capital Traction recorded no sales, fol-
lowing the announcement of the Sep
TENDER earnings. It closed the week
with 81 bid and 52A asked.
The unlisted stocks were called on,
as usual, on Saturday. The quotation
on Munsey Trust was changed to 135
woodrtdge-Langdon Savings Bank stock
was lowered from 40 to 80, the bid of
20 remaining unchanged.
Buying at the Bottom.
American business is making the
same mistake 1t made a year ago, in
the opinion of the Fifth District Banker.
In 1929 few people really believed that
there was period of decline or depres-
sion coming sooner or later. But every
body was gambling at the top and let
ting some one else hold the bag.
This year every one is waiting to buy
at the bottom, an equally dangerous
mood. Remember the old saying that
one cannot try to buy at the bottom,
or sell at the top, without overStaying
his market more times than not.
Buying things now, as they are
needed, would seem the forecast from
such experience II may easily turn
out, the magazine concludes, that what
is bought now will have been bought
pretty close to the bottom after all.
Buying Power AssumuIating.
In a special editorial this week, the
United Business Service Of Boston calls
attention to the accumulations OF fu-
tlre buying power which are being
made ali over the country.
Savings deposits are increasing, a.
shown BY reports of savings banks, in
surance companies and time deposits
in reporting member banks of the Fed
eral Reserve System. Time deposits
in millions Of dollars, now amount 70
7.54I, compared with 6,825 a year ago
and demand deposits 1866 against
1880 a year ago. These items much
more than Offset decline In actual
curvsrs- circulation of nearly 800 mil.
lions. Furthermore, these savings and
deposit figures are growing. They rep
resent increasing buying power, held IN
leash partly by fear and partly by ap.
parent lack OF opportunity for profitable