Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-20

serve Boards sub
committees n d -
when invited, give Xxx
much important in EHNza = n n'aI asaaa'1I'a
formation to the Robert V. Fleming
Federal Reserve
Board regarding actual banking CollG1-
tions and on the relations OF TIE pal4AS
MT. Fleming spoke on Should the
Association Set Up Permanent
federal Reserve Committee" inc maj
ter Of reserves which the banks should
at all times carry is an issue o. NlCa di
Importance and one in Wnlch tile rea ua,s a.
Reserve Board always has deep cor
corn Mr.. Fleming has been member
t H. Snecial Committee of the Amerl-
car BANKERS Association on the Calcu-
1ation of Reserves, and has also keep
y, close touch with the Reserve Guy
HANGERS views along the same line, SO
;e r,articularly we'll qualified to discuss
the subject.
Changes Present New Problems.
At today's session he told the Reservs
CITY Bankers that ne was Cou It ,.ooi
go s,,ch committee could be OF real
.,ai,,e The committee would not az
+eront to initiate legislation, but mercy
- act in an advisory capacity: ne
touched briefly on the history OF panK-
mo the events that led to the estaD-
iishment of the Federal Reserve system
and nointed particularly to the sweep
ing changes that are going on II, t I
banking field These changes can Iot
constant revising IN reserve leq1N 81,
,,oents many new ruling being paseo on
the kind of information with which tne
reserve City Bankers are particularly
familiar. ,.4,o,,s ,,,,,-
Mr. Fleming's recommendation Will
come I'M for action during the three
Gav session Another speaker Iooay
was James D. Brennan, vice presloen'
FIRST National Bank, Boston, VINO as
cussed 1.-The Ideal City Bank ExanIl "a
tion." The delegates were welcomed oS
11pa,, a McAdams, executive mana
5ar state Planters Bank & Trust Co
IF Richmond, and the response oy
Harry s. Covington, vice president, Ma
+iona1 Bank of Commerce, Detroit
THE president of the association Is Guy
emerson. vice president of the Bankers
Tr1Ist Co. New York. The member
from the fifth district on current DUST
ness conditions Is James w. McEnoy
vice president, First National Bank
Baltimore.
Attending from Washington, in al
dition to Mr.. Fleming, are A. M. MENUS
vice president of Riggs, and Joshua
E,vans ir president, and H. L. Ofutt,
If cashier of the District Nahona.
BANK Howard Moran, vice president
of the American Security 81 Trust Co.
is expected TO stop at the convention
on his way back from the A. b. a
council meeting at Atlanta, Ga, anc
Wilmer P. Waller, vice president OF the
Federal American National Bank Q
Trust Co.. will attend the third Gay:
sessions. Among the speakers az 10
morrow's session will be Craig b. Hazel
wood, former president OF the American
Bankers Association.
Insurance OF IL Per Cent.
New life insurance written in Wash
ington in March was on IL per CEN
from the same period a year ago, re-
ports from Hartford stated today. Sales
for the United States as whole are
down 10 per cent.
Every State in the Union showed &
loss compared with March 1880. witt
the exception of Wyoming which galnec
6 per cent. Delaware came next witt
a loss of but per cent while Connecti'
cut and Massachusetts, were OF only
per cent. Arizona had the hardest
luck of any Of the States, new insurance
being down Al per cent from March
1890.
Florida and Georgia were of l0per cent
Virginia
lima 20, South Carolina Il and Yves
Virginia 35 per cent. Today's repor
also stated that the volume OF life in
surance sold in the first quarter o
1881 was also considerably under tina
of the same quarter in 1880. II SHOULD
be recalled, however, that the people o
the United States purchased the larges
amount of life insurance in March
1880, ever taken out in single month
The Research Bureau estimates tina
in spite of the depression in almuS
every branch Of industry, people IN tn
United States are purchasing $4,000,
900 Of life insurance on every workini
day.
TOday's Trading on Exchange.
In light trading on the Washington
Stock Exchange today Capital Traction
stock opened and closed at 33i2. On
10-share lot sold at 1893. At presen
levels the stock has been showing bet
ter resistance than was the case
month or so ego.
Capital Traction IS gained strength
during the session. The bonds opened
with 81 600 selling at 1872 and closeC
with a $4,000 sale at 70.
Mergenthaler Linotype registered 81 I
today and Washington Railway g. Elec
trio preferred came out at 1924. Wash
ing DSIi AJuO AI15AAL clJSA 1DiN az ! 40 Az
five shares, quite a bit under the las
sale.
Bank Loans in Decrease.
The Federal Reserve Board reporte
today that during the last quarter 0
1880 the total loans and investment
of all banks decreased by 81 ,38l 600,
600, rejecting a decrease Of 81 $50, 600,
coo in loans and an increase Of Sl99,
900 in investments The decreas
for member banks was 1913 100000 an
for non-nlember banks S769, 100000.
For the year ending 1890 as Who'll
the loans and investments Of all bank
decreased by S2,208 00o, 0oO-from $50
417,o00,000 TO S56,209, 900. 000-Whil
those of member banks decreased
$l.074000,000 to the level Of S34,860,
100000.
Stocks of Autos Abroad.
A survey OF stocks Of automobiles /
foreign countries made by the Depart
ment of Commerce shows that in I'll
leading markets for American-mao
cars stocks of low-priced cars are ger
orally normal, while supply of high
priced and used cars were general
higher on March 81. The survey ind
Gates that stocks of trucks and busst
range from normal in most instances I
high.
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MORN ron, prn AyYET DrCnnn