Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-26
SAVINGS CAMPAIGN
SPEEDING RAPIDLY,
BANKERS ARE TOLD
Fa1anciers Would Prepare
Depositors to Meet Eco
nomic SIumpS.
NEED FOR FINANCIAL
EDUCATION IS STRESSED
Chasing Moonbeams for Three
Years Costly-0ther Echoes
From A. B. A. Meeting.
RY EDWARD c. STONE.

marked progress IN tlle iias -
Cd lift campaign to increase saw ~
M its in the banks was reported az
~ Snring meeting of the executive
eel ncii of the American Bankers AS
SOS iation at Augusta, Ca ACCORDING 10
HI ward Moran, vice president OF inc
A.; ,erioan Security g. Trust Co, mem
bki. Of the savings bank DIVISION Oh Iiie
iA.I B. A., and chairman OF the say
iir % fbank section OF the DlSFlcI oaiiA-
el ECAssociation. 49, -
.pt lrts. are making a special effort 10 get
M Sor1le of moderate means to set asloe
if Erer savings for a time OF need: IN
OF de-. better to meet such conoltlors
las have prevailed during the plesent
rbrSla ness depression. Az tne Aofu tSe
s m eei ing, bankers from all parts OF the
UnI ed states reported great interest
In ais move. A..
anxi bank division, Mr.. Moran added.
( Strd ssed another point, that OF interest,"
raN q. in his report. This Is one OF tLIe
hirsi est issues now before the bankers
81 he United states and of special i'm
rc.t ,arice to the savings departments IN
ffeI banks. How to keep up interest on
eaI ncs in the face of low money rates
ara the consequent reduction in earn
1-zei mower is drawing the attention OF
1ns best minds in the banking f1elo.
Would Enlighten Depositors.
9-ba American Bankers Association
hss before it a proposal to work out
SOC le method by which depositorS, as
ND as bankers may have dennlte
kns ,wledge of the necessity OF ADJUST
ino interest rates, either up or down.
as the current money market warrants
to-; obviate the disposition Tor Suspicion
arr onr bank customers as to the mo-
fjs. e Of banks in lowering interest rates
OH, savings and time deposits rms. OF
cchi rse is a matter of education. Ere
m Z ntlv. Chairman Robinson told the
d, Rsgates, outside agencies utilize tbs
81 tspicion on the part OF bank oeposl-
tbs to foster their own designs AZ '4'e
e. kpense of the banks.
TAnother matter of general public in
ts rest related to the combining OF saw
ir rs accounts and time deposits In re-
p; % Srts and statements. This was held
NJ isleading and confusing. The bankers
at / Augusta said these deposits snouio
be separated, both in accounting an9
st elements. The banks cannot anoro
tn / nav as high interest on short-time
d sposits as on true savings deposits
7 h time deposits cannot be put In
10 ts--time investment, which render
4. h q Ter yield.
light now the banks are being flooded
VII Ii these funds which. are awaiting
oFg ,ortunities for investment. Iney are
DID ced In savings accounts, must De
avs liable to the depositor at any time
ara therefore bring in q very low y1elo
toll the banks, Mr.. Moran explained.
one of the reports, outside OF the saw
IN division, was made by the chairman
oil the Foundation for Education in
Ed ,nonaics. John H. Puelicher. He
old tied one committee N the South as
sal ing that If the school talks had been
1d} en- earlier. many of the banks now
kcla sed would still be open.
+, Chasing Moonbeams Costly.
p'I don't believe" Mr.. Puenoher told
,thl. delegates. that there has been a
stiIle, at least during the life OF any
splbSent here, when a general knowledge
tofS economics distributed to all the
me Sopie would be Of such great assistance
toi this country. People are realizing
stt y folly OF having chased moonoeams
{fck some three years.
with that realization comes nucn
he kdshin and SORROW. I feel that had
I tn Ire been a better knowledge Of ele-
I'm kntary economics much of the moon
btA am chasing would never have taken
Up ace, and that much Of the distress
) " th, which America is faced today
VI Iuh not be-"
Another Of the most discussed prob
leh-k related 70 economics in bank OPP
err Atoms to meet the new situation
ybr ought about by low interest rates and
n huced bank earnings.
IA, Lane Young, chairman OF the Ag-
rk7lltural Commission. reported that IS
Slate bankers associations now nave
agricultural committees and that the
county key banker list Of the commits
sion now numbers 2.54l names.
Many other high spots at the meeting
have already been mentioned in The
Star. as noted on the return from the
south, OF Francis G. Addison, tr., Wash
irgtops member Of the executive
council.
Trading on Local Exchange.
iCapital Traction stock displayed
further strength on the Washington
stock Exchange yesterday when II
ctoSed the week at "a Yesterdays
u aiding IN both stocks and bonds fol-
washington Gas IS "B"-sl 900 al
pd4omac Electric Power 5laGs pfd.--2
at 11o1s, Is at ITO, 10 at ITO.
District National Securities pfd.-2 al
1853.
Riergenthaler Linotype-lo at s0as, II
yat 80, 10 at 30, 10 at 30, 10 at sos
Capital Traction-5 at "a.
PPtoTSac Electric Power 51a% pfd.-'
Columbia Sand & Gravel pfd-5 at 90
II <EQpleS DTuS 0IOIto pAN'--4 AZ az Ao%i ~
at 1o2, II at 1902.
AYlerican Security d. Trust Colo a
!t33l.
Capital Traction 5s-sl 600 at 8oA
81 900 at SoH.
- II was announced that the American
Fire Insurance Co. directors have de
ciared the per cent quarterly divi
dend. payable May to stock Of recort
April rs.
Cleaned in Financial District.
Chairman B. l.. Cotton Of the Fidu
Charles Section of the District Bank
ers' Association announces that Ed
ward j. Reilly. legal editor of Trus
Companies Magazine and counsel o
Mcody's Investment Service. will ad
dress the section on Tuesday night
MAY 5, at the Willard. He was for
TnerIys trust officer Of the Fulton Trus
Company New York and Of the Ma
uonal Bank Of New Jersey. He Is
fne speaker.
The District Bankers Association ha
passed resolutions to the memory O
George o. Watson, one of the city
ahlAst and most beloved bankers. A
~ same meeting 1t was announce
that plans we're completed for mos
interesting Spring meeting d the. -