Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-16
TRUST CONFERENCE
OPENS TOMORROW
Local FinancierS Interested
in MidWinter Meeting
in New York.
BY EDWARD c. STONE.

Trust officers in local banks are deep
~ interested in the twelfth Midwinter
Trust Conference, which opens at the
Hotel Commodore in New York tomor-
row under auspices of the American
Bankers Association. Several local
bankers plan to attend the three days
sessions. Promotion, operation and ad-
m1nistration are the three fields of trust
activity to be discussed Gilbert T.
Stephenson, president of the trust COM
pany division of the American Bank
ers' Association, will be the opening
speaker. Other speakers and their sub
JectS at tomorrow's session include
The Philosophy of Trust Adver-
Using" Francis H. Sisson vice presi-
dent Guaranty Trust Co.: Other Ad-
vertising Media" Allan B. Cook vice
PRESIDENT Guardian Trust Co., Cleve-
land
Afternoon Session-"Underlying Prin-
ciples of Trust Solicitation" Fred w
Ellsworth, vice president Hibernia Bank
& Trust Co., New Orleans; Training
OF Trust Statesmen" Walter Tresckow,
assistant vice president Central Han
over Bank & Trust Co.; Support of
trust Statesmen by Executive Officers"
Frank Page, vice president Wachovia
Bank & Trust Co.. Winston Salem:
Valuing and Paying for Trust New
BUSINESS Frederick r. Behrends, vice
president California Trust Co, Los
Prof. Irving Fisher. Yale economist.
Will be the banquet speaker on the eve
n1ng OF FEBRUARY 10. 1t will be recalled
that DR.. Fisher addressed Washington
bankers at the very beginning of the
great stock market crash, late in 1929.
AT that time he had considerable to saw
about the "lunatic fringe" in the mar
ket. AT present the lunatic fringe
seems to be much like the short inter-
eSC-O1 moderate PROPORTIONS
Large Attendance Assured.
The Monday morning mail to Edward
n. McQuade. chairman of the Hotel
committee for the coming Bank Man.
agement Conference, to be held in this
city, was loaded with requests for hotel
reservations. Reservation requests ar
rived steadily all last week. so that the
punch received today means a fine at
tendance Is already assured, although
t the meetlng does not take place until
the 2oth and 9th of February Rep
resentative bankers from eight States
and the District of Columbia will at
tend the conference
The local committee in charge of the
arrangements will meet next Thursday
afternoon, at which time the subcom-
nlittees will make their final reports to
the general chairman, Robert v. Fqem-
ing.
The counsel of administration of the
District Bankers Association is also To
meet this week, Friday afternoon, at
headquarters, This is the regular
monthly meeting and will be occupied
largely with routine matters
The committee of bankers to select
an essay subject for Washington Chap
ter members to write on in connection
with this years contest will settle that
weighty problem on Wednesday after
noon. Frank M. Perley, president of
the chapter, will also be present. The
members are George o. Vass. E. ].
McQuade and Frederick P. H Siddons.
The three institute members receiving
highest honors will be rewarded with
trips to the bankers convention at Hot
Springs.
Atlantic & Pacific Sales.
Sales of the Great Atlantic g. Pacific
Tea Co. for the five weeks ending jan
uary 81 were S97.558.824. which COM
pares' with Sl04,270,933 for the same
five weeks period in January. 1880. and
Is decrease OF $6,7l2,l09, or 6.44 per
cent
Although dollar sales were smaller
this January than they were a year
ago, due to the continued decline in
retail food prices, the actual quantity
OF goods sold in the January period,
1881, showed a gain of 365 per cent
over the corresponding period in 1880.
In fact, more goods were sold in Janu-
airy this year than in any other Janu-
airy in the history OF the company.
Estimated tonnage during the Ave-
week period in January, 1891, was
5l0,42l, compared with 492 425 last
year, a gain of 1896.
Banking Situation Strong.
During the past month the chief in
terest has been on developments in in
custry and trade. rather than in the
banking field. says the American Bank
ers' Association Journal After a year
OF bank suspensions that set a new
high record, the epidemic stage of this
trouble appears to have been passed
and big banks in the money centers
are probably in as strong a condition
today as at any time in their history
Moreover, the resources Of the Federal
reserve system are practically I'M
touched, in contrast with conditions in
1921, when member banks were in debt
more than $2,000,000,o00.
Capital Traction Sells Lower.
Only 10 shares of Capital Traction
stock changed hands on the Washing
ton Stock Exchange today But this
small lot sold at 343s, a new all-time
low mark. The market closed with
343s bid and 357s asked 49,.
Washington Railway e. Electric pre-
ferred sold at 99l2, Mergenthaler Limo
type opened at 38 and closed with 80
shares selling at 81 Columbia Sand g.
Gravel moved at 80 and 500 shares of
Real Estate Mortgage & Guaranty pre-
ferred came out at 6i2
Bond trading was confined TO Capital
Traction SIS, which figured in five diff
ferent transactions at g.
-Four local stocks are now being
quoted ex-dividend. the two Potomac
Electric Power preferred issues and
Washington Railway & Electric COM
mon and preferred
Heard In Financial District.
The regular monthly meeting Of the
directors Of the Mergenthaler Linotype
Co. takes place tomorrow in Brooklyn.
This is the meeting at which quarterly
dividend action is due.
Maurice Otterback, president Of the
Anacastia Bank is basking in the
bree2es at Miami Fla, while taking
short VACATION.
/ A. Fleming. who is passing the
Winter at Hotel Indialantic, Melbourne,
Fla, writes that business at the vsri-
Gus Southern resorts has improved
considerably, but is still very disap-
pointing TO hotel managers
Motion pictures theaters throughout
world totaled 81, 365 on January l. &C
cording TO the Department Of Com
merce; 22,73l in the United States,
28,454 in Europe, and 1854 in Latin
America.
John A. Reilly, manager Of tie WASH
irlgton branch Of the National ASCOT
alton Of Credit Men. was presented with
a handsome silver coffee set by the
other officers at the annual Dime.
Saturday night He was also the re-
cipient of a fine gift from his office