Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-07-03
M'QUADE NAMES
/ COMMITTEE AIDES
District Bankers President
Appoints Heads of Two
Association Units.
BY EDWARD C. STONE.

b1 6bn AMI ~ ~ oAFAS'
Two important standing committee
appointments were announced today
by Edward j. McQuade. president of
the District Bankers Association, as
follows:
Budget Committee. II. Pope,
chairman. and vice president, MunSey
Trust Co.; Albert S. Galley, execu,
five vice president. Lincoln National
Bank: George o. Vass, vice president
and cashier, Riggs National Bank, and
Frederick P. H. Siddons, secretary
American Security & Trust Co.
Committee on New QuarterS-George
o. Vass, chairman, Riggs National
Bank; F. G.. Addison. jr., president.
Bank; Ianier P. McLachlen, president
McIachlen Banking Corporation; Fred
erick P. H. Siddons, American Security
81 Trust Co. and Aubrey 0. Dooley,
president. Washington Chapter, Amer
lean Institute of Banking, and con-
nected with the Federal-American Ma
tional Bank.
Facing Important Work.
The Budget Committee is always an
important committee. although its WORK
is not of a dramatic nature. Tne
chairman, Mr.. Pope, is tlrst vice pIesI-
dent of the association and the otner
three members are all officers in the
bankers organization, Mr.. Galley now
serving his twenty-Second year as treas
urer.
The Committee on New Quarters has
a problem to solve. Under the pres
emf ARRANGEMENT the students in the
American Institute of Banking use the
quarters of the Bankers Association In
the Becker Building, on F street, Tor
their classroom work. The annual re-
port of Frank M. Perley, last year
chapter president. made at Hot Springs,
rhowed that the institute has completely
outerown its present accommodations.
It is only a question of time before new
quarters for the chapter will be an alb
solute necessity, and that time seems
fast approaching.
Mr. Vass, chairman of the new COM
nittee. is second vice president CT the
association, Messrs. Addison and Nc
Lachlen are past presidents, and Mr..
Siddons is the present secretary. Mr.
Doolev Is president of Washington
Chapter A. l. B., this year, so is in
particularly close touch with the needs
of the junior bankers taking institute
courses.
Special Committee Also Appointed.
President McQuade of the District
Bankers Association has announced
the appointment of the following to
represent the association at the Fourth
Pan-American Commercial Conference
to be held in Washington October 5-l2,
1881:
Robert W Fleming, president Riggs
National Bank, to represent the ma
tional bank group.
Lanier p. McLachlen. president Nc
Lachlen Banking Corporation, to rep
resent the State bank group.
Francis G. Addison, jr, president
Security Savings & Commercial Bank,
to represent the savings bank group.
Edward l.. Hillyer vice president and
assistant trust officer Union Trust Co,
to represent the trust company group.
Mr.. McQuade. as president will rep
resent the District Bankers Association
rs a whole.
Riggs Bank Reports Deposits.
The Riggs National Bank reports total
deposits at the close of business on
June 80 as s57,586, 294.01.
This compares with figures on the
last controllers cali on March IS show
ing deposits of $59.371 1868.
1t will be remembered that on that
date the bank had an increase in de-
posits over the December 81 figures
amounting Ito S5447, 20440.
The June 30 figures. just announced
by President Robert V. Fleming. are of
unusual interest in the bearing they
may have on the total aggregate de-
If these figures are criterion, total
deposits in the Washington banks just
row are slightly lower than they were
IN March.
Securities Law Study Voted.
At a special meeting of the District
Bankers Association late yesterday at
headquarters, it was voted to have
special study made of the laws govern
ing the sale of securities in the vari-
Gus States.
Such action was recommended by the
Committee on Law and Legislation in
the annual report made at the recent
Hot Springs convention, Francis G. Ad-
olson, jr., being chairman of the COM
rnittee. The recommendation was
adopted by the convention and few
days later the date for the special
meeting announced
1t is presumed that the result Of the
study of securities laws in force in
different States will be presented to
Congress in a bill covering the needs
of the District of Columbia.
There is sufficient time for counsel
TO digest the most satisfactory laws now
in force outside the District and present
Washington's needs before the next
session of Congress. Yesterdays meet
ing was the first held under the new
administration. Mr.. McQuade being in
the chair. The attendance was large.
Financial District. Notes.
: Every bank, stock brokerage and in
Vestment house in the city will be
closed tomorrow, the Fourth
The Washington Rapid Transit Co.
reports a decrease in earnings in May
of S2,032.42 and decrease for the first
five months of 1881 of $1.11743, COM
pared with the same period last year
F. e. W. Grand 5-10-25 Cent Stores
declared regular dividends CT 25 cents
on common stock and S16212 on pre-
ferred stock Common is payable July
20 to stock of record July 13. while
preferred is payable August / to stock
OF record July IS.