Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-05-14
DIRECTORS URGED
TO ATTEND FARLEY
et -
b. C. Bankers Association
u Seeks Large Turnout
at Hot Springs.
BY EDWARD C. STONE.

out letters today to all the bank presi-
dents in washington asking their CO.
operation in securing large attendance
of bank directors at the Pune con-
vention of the association to be held
at Hot Springs. Va. More and more
directors are attending these conven-
tions every year and an effort is being
made this year to increase the list sui
further.
The addresses by such men as Rome
c. Stephenson. president OF the Amer
lean Bankers Association; John W
pole controller of the currency; Ed
nund S. Wolfe, president of the ma
tional bank section Of the A. B. A,
and others are certain to be OF very
great interest to all bank directors
Practically all the golf and otner
sports events are open to the directors
lust as they are to bank oHclals SO
that they can enjoy all the convention
activities.
Last years convention at Asheville,
N. c.. saw directors from almost every
Washington bank among the guests
President McLachlen and the other
officers hope that all these directors
will attend the Hot Springs session and
that many others will join the Ist
The Homestead is such a large no.el
that it can furnish unusual accommo-
dations for all who attend the con-
yention. Most of the arrangements
have already been completed, a most
enjoyable four days meeting being IN
prospect.
Bank Deposits Still Mounting.
Deposits in Washington banks have
grown steadily since the controllers call
of March rs, according to informatlS1
obtained in several local institutions TO-
dav. 1t will be recalled that bank de.
posits in the National Capital gained
$14.e72. 84871 between the December
and March calls. The controllers re-
port at that time on the condltion Q!
local banking institutions also showed
that savings deposits nao mace al eSpe-
cially good increase.
Renorts from various bank officials M
the CITY indicate that the aggregate Qe-
posits of the banks here are propaply
larger now than they have ever been.
A few days ago one Of the largest oanks
in the city made new all-tlme oepoSit
record. Another reported a new nlgIl
record and several others announced
that their total deposits had shown un-
usual increases since the last bank can
on March %.
bank profits are also holding up un-
usually well in Washington. Consider
ing interest rates, bankers are parucu-
larly pleased with this status. During
every depression there is always an m
crease in savings funds, SO tnaLtne PIES sS
emf Gains are not surprising. The build
inc IN of profits, however, is not so
easv. That makes the present situa-
tior1. the more interesting. 1t also ndl-
Gates that the better bank management
campaign of the past two years Is Dear
ing fruit.
Poole to Address Convention
John Poole, president of the Federal
American National Bank & Trust Co.,
will address the New Jersey Bankers
Association tomorrow. The annual con-
vention is being held at Atlantic City.
F. G. Await, deputy controller OF the
currency is also on tomorroW's program
The Pennsylvania Bankers Assocla-
tiof. is likewise in session az AIIantc
CITY. the president being w. Walter
wilson. who attended the bank man
sgennent conference held In Washington
seyeral weeks ago. At Yesterdays ses-
sian United States Senator DAVID a.
Reed addressed the bankers. He SAID
several signs indicated that the worst
of the business depression IN the United
States had passed He criticized actlvl-
ties of various groups In seeking nnan-
cial aid from the Federal Government,
mentioning especially the war veterans
and the wheat farmers.
AnacOStla BANK mas EAcctAous
Onhcers and directors of AnacoStia
Bank reelected at the annual meeting
of stockholders and directors meeting
OF. organization held yesterday, are the
following: Maurice Otterback, presl-
dent: s.. A. Manuel, first vice presi-
dent: j. Frank Campbell, second vice
president: Charles w. Warden, third
vice president; w. l.. Koontz, cashier ,
Alfred ". Pohl, assistant cashier and
George C. Gertman, counsel.
Directors are J. Frank Campbell,
Charles w. Warden, A. E. GUIDE, George
S. King, S. A. Manuel, Maurice
Otterback, L. w. Thompson, Robert
Thompson.
Bank Employees Keep Jobs.
Eliot H. Thomson Of the washington
Banking As a Vocation" sponsored
by the Kiwanis Club, said that re-
Gently there have been very few changes
in the personnel in the local banks.
Bank deposits have been growing but
general banking activities have been
such that the banks have found 1t nee
essary to add but few new employees.
Two qualifications that bank de-
mands Of every employe and of1cer,
he said, are absolute loyalty to the
institution and inviolate confidence
regarding the business of its custo-
mers Banks desire to start new en-
ployes at the bottom and train them
for higher positions as they prove
their worth. While this means low
pay and long hours for beginners. he
reminded, promotion from the ranks
is the general practice in banks, as 1t
encourages employees and provides
thoroughly trained forces.
TOday's Trading On Exchange.
Small lot trading prevailed on the
Washington Stock Exchange today with
prices firm Capital Traction gained
fractionally, So shares selling at 34H.
Washington Railway 81 Electric prefer
red was active, selling at 1914 and
9s%. Both railway preferred and COM
mon are now quoted ex-dividend, fol-
lowing the recent declaration Of dtvi-
dends.
Potomac Electric Power 5ia per cent
preferred came out at 1924. Bond
trading was confined to Capital Trac-
ton IS and Washington Gas issues, at
recent quotations.
The Board Of Governors voted 10 close
the exchange on Saturdays, beginning
on May IA until October 3, this being
the usual Summer schedule.
Financial District Notes.
The adjourned annual meeting Of Fox
Film Corp. which was 70 have been held
on May IS has been set for June 10
This viii comply with the requirements
of the New York Stock Exchange that
the annual report be issued Is days be-
fore the meeting date.
President Joseph Schiavone Of the
international Exchange Bank returned
yesterday from Trenton, N. j., after
participating in the municipal elections
Sales % S. S. Kresge Co. have in
creased Tor the past two weekly
periods and while the month Of May
lsoa1iSa of Memorial dav falling or