Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-09-09

sponsibilitY for de- 3 ~ a
veloping leadership
in the banking '''
profession 1t has Harold Stonier.
now been 33 years
on this task Education is SLOW proc
ess. It can not be unduly stimulated,
but the effects of it are certain ana
definite. In some sense education is
now considered to be the answer 10
practically every problem which con-
fronts us.
washington Chapter of the Ameri-
can Institute of Banking has always
been a leader in this sense. 1t has en-
loved the support Of the personnel ot
the banking institutions Of TINS CITY ~
a marked degree and its rapid grown
in numbers and i'll influence has oeen
Tho result of the efforts put forth by
the banks in behalf of banking edu-
cation"
Economic Laws Must Prevail.
At another point in his address. Dr..
Stonier said that the average person
realizes that economic laws are not
made but discovered. These laws are
already in existence. but it takes time
20 and them out Turning to the cot
ton situation. he added:
II attended a meeting recently OF ouu
farmers who were in an1nStltute TO study
new WAYS by which power could De ap-
piled to farming They we're enroled I'D
tractor school. In many sections OF tle
south. where politicians are urging the
State Legislatures to pass laws prohloll-
ing the planting of cotton. the average
American farmer realizes in those same
sections that the Legislatures can be OF
no permanent help to them. II is
foolish to think that the mere prohlbl-
ton of the planting OF cotton VIII 40
ANYTHING constructive to relieve the
cotton situation
Richard A. Norris. chairman OF the
Educational Committee presided ana
short talks were given by E. j. NC
Ouade. president of the Dlstrlct
Bankers Association: aubrey y Do0ley'
chapter president; Raymond b. Dlckey,
dean of the faculty; F. P. H. Slddons
and Elmer L. Kayser. new members OF
the faculty: Harry F. Kimbal. chair
man of the Membership COMMITTEE. ana
Earl McGeary. chief consul. the meet
ing was most enthusiastic ana large
attendance of junior bankers Is ALREADY
assured for the Fall term.
A. b. A. Convention Plans.
All New Jersey bankers have been
DESIGNATED b. Robert w. Harden, pres
ident New Jersey Bankers Association,
as members of one great Reception
Committee for the bankers from all
parts OF the United States attending
the annual convention OF the American
Bankers Association, which will be held
at Atlantic City October 5-S Mr..
Harden has appointed special COM
mittee of the New Jersey association 10
develop plans for increasing attend
ance of bankers III this State and or
ganizing them on Reception Commit
tee basis.
The weekly wholesale price index of
the National Fertilizer Association de-
clined three fractional points during
the latest week. During the preceding
week the index number advanced one
fractional point Important commod-
tiles that advanced during the latest
week were lard butter, cheese, eggs,
molasses, corn. oats. barley lumber, an
thracite coal. silk. camphcr and petro-
leum. Listed among the declining
commodities we're cotton. cotton yarn.
wool. cottonseed oil. cotton seed. sugar,
ham, pork. sweet potatoes wheat. choice
cattle, lambs. hogs, lead, tin. cement.
brick, bituminous coal and rubber.
Heard in Financial District.
President Robert v. Fleming Of the
Riggs National Bank was back at his
Office today after months vacation
a Spring Lake N j.
Vice President George E. Fleming oil
the Union Trust Co. leaves Washington
tomorrow for motor trip through New
England. the White Mountains and
probably to Quebec He will be away
about a month.
George L. Starkey, president of the
National Bank of Washington. starts on
a two or three weeks motor trip to-
morrow While away he will visit many
places in New York State. Alexandria
Bay, Montreal and various resorts in
the White Mountains.
Col r. r. Mccormick. publisher and
editor of the Chicago Tribune will be
one OF the speakers at the Financial
Advertisers Convention in Boston next
week. according to word sent to local
bankers planning to attend. He will
speak on "Advertising'S Opportunity to
Help in Today's Problems"
Alexander r. Valera. with the Com
Snercial National Bank for many years,
announces that he has severed all his
banking connections and will devote his
time in the future to the life insurance
business He is representing the Trav-
elerS' Insurance CO. Of Hartford. and
has an Office on Connecticut avenue.
The Western Union Telegraph Co.
has declared the regular dividend of So
OaSdb ONtVOSA ~ W oNOSN va ASNOAA
September 25.
Bonds Again Market Leaders.
Demand for local bonds again led
trading on the Washington Stock Elk
hange during todays session.
Trading opened with 81 900 sale in
Washington Gas IS, SFries A, at
103Ss. This was followed by two
$4,000 transfers in Washington Railway
& Electric As priced at ga.
Another bond transaction was $1,000
sale of Columbia Country Club 81 IS at
1902 This was new high for the
Columbia bonds which were brought
out at par and had never before sold
above l01
In the stock division Potomac
Electric Power 5i2 per cent preferred
came out at ll034. while Lanston Mono
type registered a sale at 81.
The most active stock was Security
Storage Co., which figured in So
share turnover at los, new high for
the present year. the last previous sale
being made at 10434
While the days sales were of only
moderate proportions, the strength in
price quotations caused considerable
favorable comment.
Washington clearing house figures
for today, $4,000, 924.24.