Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-19
CREDIT AID HEADS
MEET IN RICHMOND
Fleming Goes to Virginia
| Capital for Organization
Meeting. =
BY EDWARD c. STONE.

BY EDWARD c. STONE.
IN answer to a Geographic reqles.
From John NJ Miller, ir., fifth district
Federal Reserve director in the Ma
&donal Credit Corporation, Robert ".
FLEMING, organizer of the Washington
amt, is in Richmond today attending
b meeting OF all the keymen in the
district. at which the final details are
being worked out for completing the
organization and fixing methods by
which they will operate.
The other local org Anizers in the
nth district are Charles E. Rieman Of
Baltimore, for Maryland Julien NJ.
Hill, Richmond, for Virginia; Charles
M. Cohen, Huntington, Tor West Vlr-
ginia; r. NJ. Hanes, Winston-Salem,
9or North Carolina, and w. j. Roddcy,
Columbia, for South Carolina.
Director Fleming of the Washington
Area expected that it would take ali
DAY and the entire evening to complete
al details. He expects, on his return,
10 have all the information that the
local banks Will want about the work
ing of the plan and the steps to get 1t
into operation. Director Miller attend
ed the meeting in New York Saturday
OF the directors of the national aSSo-
procedure were adopted. All that re-
mains now to get the huge corporation
TO functiOning is TO get the auxiliary
associations formed in the local areas
AS already noted, seven Washington
banks have already voted full sub
ecriptions to the national fund. Others
will take the matter up at regular or
special meetings Of the directors before
next Fridays special joint meeting OF
the Washington Clearing House AS
eociaticn and the District Bankers AS
kociation.
The machinery now being set up to
bid banks all over the country with
funds TO make cash more easily OBJ
tainable, Is arousing great interest.
sound but frozen assets into liquid
funds to the great advantage Of both
the banks and the general public.
u. c. Bankers Hold Meeting.
The regular Fall bushes meeting OF
the District Bankers Association is
taking place this afternoon at 4 O'Clock
at headquarters in the Becker Build
ing, President z. J. McQuade in the
chair 1t is expected the meeting will
be given over largely to routine
matters.
Resolutions will no doubt be adopted
on the death OF Andrew Parker, who
angton Loan g. Trust Co., at the time
of his recent death while visiting in
California. The committee named to
draw up the resolutions consists of
Charles H. Doing. vice president of
the Washington Loan & Trust Co.,
chairman; Frederick p H. Siddons,
secretary of the American Security 81
Trust Co.. and c. F. Jacobsen. cashier
OF the National Metropolitan Bank
The term Of Office Of Edwin c.
Graham as a class B director in the
Federal Reserve Bank of Richmond eX-
pires shortly. 1t is probable that the
local association will indorse Mr..
Graham for reelection. Other inter-
esting matters held over from the Sum-
Iner months will also come up for &C
ton.
Local bankers had en- tho desks to-
day the call for Joint meeting of the
association with the Clearing House
Association. set for Friday. The letter
included copies of the letter requesting
such meeting, prepared by Regional
Chairman Fleming, the notice signed
by E. j. McQuade and H. H. Mckee,
stressing its Importance, and consider
able printed matter relating to the pur
pose of the National Credit Corporation
and the part to be taken by the local
units.
"hHf DClCsdUcs ATTlNe III NItV.
Delegates were arriving in large num-
bers in Washington today for the seven
teenth annual convention Of the Ameri-
can Association of Personal Finance
Companies, which opens tomorrow in
the United States Chamber OF Com
tnerce Building
Tomorrow will be given over to reg
tstration, an executive meeting at 10
I'm. and meeting of the board Of di-
Tectors at pm. Several group meet
ings will also be held at the Mayfower
Hotel during the convention.
On Wednesday morning the delegates
0ill be welcomed by Francis G.. Addison
!r., member of the Executive Council
of the American Bankers Association,
and by Philip P Colt, manager. trade
association department Of the United
States Chamber of Commerce. The Sec
rotary of Labor. William N. Doak, will
speak later during the convention, as
will many prominent out-of-toWn men,
Last years convention here was attend
ed by several hundred leaders in per-
sonal finance matters and proved
highly enthusiastic conference.
S50,OoO,OO0 Treasury Offering.
Secretary Mellon gave notice today
that tenders are invited for Treasury
bills to the amount of S50.00O00 or
whereabouts. They will be 9l-day bills,
and will be sold on discount basis to
the highest bidders. Tenders will be
received at the Federal Reserve Banks.
or the branches thereof, up to 2 o'clock
pm, Eastern standard time, on Thurs
day, October %, 1881. Tenders will
not be received at the Treasury De-
partment. Washington.
The Treasury bills will be- dated
October 26, 1881, and will mature on
January Is, 1882, and on the maturity
date the face amount will be payable
without interest. They will be issued
In bearer form only. and in amounts
or denominations of $1,000. $4,000,
100000. 100000 and $1,000,000 ina
turity Ialue).
Trading on d. C. Exchange.
The week opened on the Washington
Stock Exchange today with $4,000
Washington Gas Light 6s, series A. SELL
ing at 100. The B bonds sold at 1907
in very small denominations and $4,000
Chesapeake & Potomac Telephone SIS
of Virginia moved at 10l.
Twenty-six shares of Columbia Sand
e. Gravel preferred came out at 90 and
125 shares of Woodward & Lothrop
common changed hands at 3d. same as
the last sale last week.
Washington Clearing House figures
Cor today: 1929, 036.83.