Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-20
ALBERT w. ATWOOD,

experience means anything. as a period
of convalescence, from overproduction,
overselling and the abuse Of credit.
We went uphill much too far, and how
are we to get back into equilibrium
without going down painfully far? To
mistake the natural and normal effort
of the financial and industrial organism
to right itself and regain its poise as
either the end of the world or as &C.
casion to adopt every clap trap panacea
seems to me either childish or hySteri-
cal. But this is not the flrst time the
drunkard thought he was going to die
on the cold gray dawn of the morning
after. We are in depression, but that
is when the stout-hearted lay the foun-
dations of success: 1t Is when the
quality of credit Is improved and when
people pay their debts.
II am amazed" he said in conclusion.
at the pessimism of utterance by many
of our prominent men. They foresee
the breakdown of almost everything
but I am confident the chief break
down is in their own perspective and
common sense. They must have fallen
for the new era stuff a couple of years
ago, and were evidently living In
fools paradise. AS long as the great
mass of the people carry on their daily
tasks with faith and loyalty and courage
we need not fear. 1t is true that many
further reforms are needed. although
many have been and constantly are
being made. But let us tackle some of
the thousands of tasks at home before
we bay the moon. Howe an we rule
in great things until we begin to rule
ourselves in little?"
Important Reports Presented.
Prolonged applause greeted Mr.. At
woods picturing Of remedies to wipe
out the clouds on the economic horizon
after which many important annual
reports were presented. Ralph Endi-'
colt Of the Washington Loan q Trust
Co., chairman of the auditors section.
reported much progress by that division
of the association.
Other reports covered auditing, J.
Frank White cashier, National Bank Of
Washington, chairman; standard bank
ing forms. Thomas j. Groom, cashier.
Bank Of Commerce & Savings, chair
man; insurance, Frederick H. Cox.
cashier, Commercial National Bank,
chairman; Treasury relations. HILLARY
@. Hosktnson, vice president, Riggs Ma
tional Bank, chairman; advertising, Eliot
H. Thomson, Washington Loan & Trust
Co, chairman; taxation, H. II. Mckee,
president, National Capital Bank, chair
man: publicity. Claude H. woodward,
president, Mount Vernon Savings Bank,
chairman; credit bureau, C. F. Jacob
sen, cashier. National Metropolitan
Bank, chairman.
During the forenoon the national
bank; savings bank, State bank and
can Bankers Association met to elect
vice presidents for the District of Co
lumbia for the coming year. During the
past year J. Frank White, j. Ezra Troth.
j. T. ExniciouS and Charles Z. Doing
have been the representative vice presi-
dents of these four divisions. Today'S
main convention session was presided
over by C. H. Pope.
Small Savings Study Urged.
President Joshua Evans, jr, of the
District National Bank presented the
annual report Of the Protective Com
mittee.
The association adopted q recon-
mendation by special committee that
a careful study be made Of small saw
1ngs accounts in Washington banks.
The aim being to require minimum
deposit of SIS before interest Is paid. It
was revealed that there are now more
than $500 savings accounts in Capital
banks which average less than 50 each.
1t was also recommended that member
banks place service charge on very
active savings accounts or insist that
these funds be transferred to checking
accounts. The surprising fact was re-
ported that hundreds Of savings ac-
counts are almost as active as check
ing accounts.
The following bankers have been
elected to the executive council of the
nouclarleS section: Kenneth r. Brooks,
riggs National; T. Stanley Holland,
American Security g. Trust Co.; VIII
liam Howard, National Bank Of WASH
mgton; Leonard Marbury. Washington
Loan & Trust Co.. and Ralph r. GUM
ter, Commercial National.
In wildly exciting top-spinning con-
test on the homestead porch Edward
Q. Etehe, Federal-American National
Bank 81 Trust Co.. won the T.. d. Nc
Lean Cup, making one OF the little
hummers hum for 70 seconds. James G.
Dulin, jr., American Security q Trust
Co, tied for first place, forcing a spin-
on IN which his top got tired four sec
onos sooner than the Steffe speedster.
b: F. Gruver captured the horseshoe
pltcnlng contest, B. I. Boudren, winner
OF the essay contest, finishing a Close
second. All other sports events viii
De decided late today Attorney Frank
j. Hogan will preside at the annual
dinner tonight and the party win reach
Washington Monday morning.
0NHE pENMiI Ecc prnInor