Evening star., 1932-10-21
AUDITORS PARLEY
IN SESSION HERE
More Than 100 Bank Repre-.
sentatives Attend Meeting.
Reports Read.
BY EDWARD c. STONE.

BY EDWARD c. STONE.
More than 100 delegates to the first
Eastern Regional Conference OF BanK
Auditors and Controllers from New
York, Philadelphia, Baltimore, Washing
ton and elsewhere along the Atlantic
seaboard opened a two-day session at
the Willard Hotel this forenoon, with
Russell F.. Themes, president OF the
national organization, presiding as
chairman.
The expert accountants were well
coined by W. M Harris, chairman OF
the auditors section of the District
Bankers Association. President Thomes
then made q short report on the ma
tional convention, which was held at
Los Angeles during the recent meeting
of the American Bankers Association.
Incidentally, the chairman gave credit
to Arthur j. Linn auditor OF the Fed
eral-American National Bank & Trust
Co, for originating the idea of holding
regional conferences, which would be
attended by great many auditors who
could not cross the country to be pres
ent ct national sessions.
James FL Douglas, Assistant Secre-
tary of the Treasury, was the neXt
sneaker. He spoke ON Treasury
that Government expenditures must be
reduced.
The Minimum Requirement of q
Bank" was the subject OF an address
by James E. Baum OF New York, deputy
manager American Bankers ASSocia-
ton, after which the morning session
adjourned and the entire delegation
went to the White House, where q group
photograph was taken. with President
Hoover as the centra! figure.
C. H. Pope, president of the District
Bankers Association, was the guest
speaker at a luncheon at the Willard
this noon. M. Pope stressed the value
of such conferences, the Importance of
knowing how the other fellow handles
difficult auditing problems. and the new
ideas secured during the discussion. He
declared the meeting must prove of
great value or so many auditors and
controllers would not be taking time
from their regular routine work. Such
gatherings are not picnics, but very
much worthwhile from the standpoint
of business, education and standardized
methots. Mr. Pope also greeted the
visitors on behalf of the local Bankers
Association.
Life Insurance Sales OFF.
September was rather tough month
for life insurance agents in Washing
ton. Although they wrote S3,3G4,000
new insurance during the month, yet
total business was off % per cent COM
pared with September. 1881, according
to dispatches received today from
Hartford
The average for the United States
was down 18 per cent from last year
and all the Southeastern States were
below that figure. Virginia and Georgia
made the. best showing among these
States. both losing 20 per cent, COM
pared with the same month year ago.
West Virginia reported a p per cent
drop. while Maryland came along with
District of Columbia
South Carolina fell off 81 per cent,
North Carolina so per cent and Florida
81 per cent. Rhode Island was the only
State IN the Union to make a gain
during the month, new policies being
2 per cent ahead of last year. South
Dakota landed at the bottom of the
list with Al per cent tumble.
The Life Insurance Research Sales
Bureau considers the report encourag-
ing. Figures for the first nine months
Of 1882 show decrease of 10 psr cent,
compared with the like period last year.
The average September slump was only
18 per cent, which the bureau takes to
indicate a slight upward trend.
During September new insurance in
Maryland totaled s6O9300O, Virginia
agents wrote s46000O0,. West Virginia
$3,l00,000. North Carolina. S5,1l1,000,
South Carolina S2,214000 Georgia S.
262,000 and Florida S2,770,000.
Today's Trading on Exchange.
On the Washington Stock Exchange
today $500 Potomac Electric Power 6s
sold at 1882. and 81 600 washington
Railway & Electric 4s came out at 37l2.
Ten shares of Capital Traction stock
sold at 63. and five shares of Potomac
Electric Power 81. per cent preferred
changed hands ct LOG.
Washington bank clearings showed
slight drop during the week ended Oc-
tober 49, Clearings totaled S18.029.000,
against S18,929,000 in the week ended
october -, and % per cent under the
record of the corresponding week year
ago. Clearings for the whole country
gained Sl,700 100000 over the previous
week, according to Bradstreet'S Weekly.
George L. Bliss, who prepared original
draft of Federal Home Loan Bank act,
assumes position as executive vice presl-
dent in charge of operations OF Federal
Home Loan Ba1lk Oh SeCOllO ulotilot' 4c-
signing IS vice president of Franklin
Society for Home Building and Savings
of New York City
The liquid position of New York City
banks as of September so was So per
cent, based upon the ratio of cash and
United States Government securities
to total deposits, the highest ratio OF
liouidity reported during the entire de-
preston. according to an analysis PIE
pared by Hornblower & Weeks.
Seaboard Air Line.
Seaboard Air Line Railway reports as
follows:
1882. 1881.
august net loss Sl,090,910 S639,395
Slight m n t hs
net loss . 6,435,256 4,050,772
"After taxes and charges.