Evening star., 1932-08-28
SE[THR APPOINTS
BOARD Of CONSULS
FORA.L. B. CHAPTER
First Meeting to Be Held at
"EducationaI Dinner"
September 8.
SLIGHT LOSS REPORTED
IN TELEPHONE REVENUES
Bankers Declare Check Tax Has
Caused Shrinkage in Deposits.
Collection Causes Expenses.

raul y. SelCZer OF the American 0e-
curity &, Trust Co, chief consul of the
Washington Chapter, American Insti-
tute of Banking, last night announced
appointment of the board of consuls
for this year.
The first meeting of the board, he
explained, will be at the institute edu-
cational dinner, preliminary plans for
which already are under way, to be
held at the Raleigh Hotel Thursday,
September 8, at $50 o'clock. The dinner
plans are in the hands of the Educa-
ticnal Committee of the chapter.
Mr.. SeltZer, who was elected to his
office as chief consul sometime ago,
has named the members of his board
TO be contact officers between the insti-
tute and the banks.
List of Consuls.
The new consuls are as follows:
William H Laughlin, associate chief
consul, Washington Loan & Trust Co.;
Robert M. Poole, associate chief consul,
Riggs National Bank; B. Bruce Frantz,
American Security g. Trust Co.; Donald
w. Mowbray, American Security &
Trust Co. branches; Harry F. Scott,
Bank of Commerce and Savings;
George H. Acton, Chevy Chase Savings
Bank; William w Cairncross, Columbia
National; Lynn E Woodward, Com
mercial National; Frank Cook, District
National; Pauline CARRIER. East Wash
ington Savings and National Capital
Bank; Richard H. Stringfellow, Federal
American National Bank & Trust Co.;
Ellsworth Meyer. Franklin National;
Ralph Collins, Liberty National; H.
Kraisel, Lincoln National; Nelson
Stokes, Lincoln National branch; Anne
Crawford, McLachlen Banking Corpora
lion; G. c. Turnbull, Morris Plan BANK;
Lincoln H. Phillips, Mount Vernon
Savings Bank; William Francis Russ,
Munsey Trust Co.; Charles Werden,
National Bank of Washington; George
Flemmer, National Metropolitan Bank;
Raymond Weber. National Savings &
Trust Co.; Lloyd H johnson, North
east Savings Bank; Evelyn E. Lynham,
Park Savings Bank: l.. w. Ball, Poto-
mac Savings Bank; Edward j. Cook,
Riggs, National Bank; Lawrence Gro
gan, Riggs Park and branches; Stuart
s. Ogilvie,. Second National Newell T.
Stiles, Security Savings and CONNER
cial; Kent L. Dyer, Seventh Street
Bank; Howard D. Dodge, Union Trust
Co: Charles j. Mcdowell, United States
Savings; Edwin M Blailock Washing
ton Loan & Trust Co.; William T.
Matthews, Washington Mechanics
Savings Bank; August r. Terneak.
Washington Savings Bank; John NJ.
Christie, w. 3. Hibbs g. Co.; George
Schultze, B. F. Saul Co.; Arthur M.
Rector, First National Bank Of Alex
hndria; Valentine w. r. Smith, Citizens
National Bank of Alexandria.
c. & p. July Report.
Net telephone operating revenues OF
the Chesapeake and Potomac Telephone
Co. for July showed decrease OF
sl8,727 as compared with the same
month last year, according 10 the
monthly report filed yesterday with the
Public Utilities Commission. Net tele-
phone operating revenues for July were
s232, 900. For the same month last
year they were $25l, ,627. Total operat-
ing income for July was $166,475 as
compared with s189,388 for the same
month last year, a decrease Of $22,9l3.
Net telephone operating revenues for
the first seven months of the year were
decreased S114352 as compared with the
same period in 1881.
Total operating income for the
seven months ending July 81 was
S154257 less than for the same period
last year. For the first seven months
of 1882 this operating income was
Sligo ,S0S.
Lower net earnings of the company.
together with the larger amount OF
plant in service, reduced the annual
rate Of net telephone earnings in re-
1ation to the average plant in service
to 6.06 per cent for the first seven
months Of 1882 For July, this figure
was 5.87 per cent.
At the close of business July 81,
Washington was served by 179,080 tele-
phones as compared with 2,762 at the
close of the same period last year.
During the month telephone users
made 17,424,000 calls as compared with
l795o,00O in July, 1881.
Discusses Bankers Position.
THE Bankers Dual Position" is dis
clssed by Robert V. Fleming, presi-
dent Of Riggs National Bank of this
city, in the current issue OF the
nations Business, publication of the
United States Chamber of Commerce
Mr.. Fleming replies to the charges
That lone man declares that bank Is
frozen because 1t has loaned too much
money. Another tells you that banks
are unreasonably liquid because they
have reduced loans and refused credit
TO worthwhile borrowers"
1T Is q difficult situation in which
the banker finds himself right now, ,"
said Mr.. Fleming. IF he pursues a
very liberal policy, he may be con-
sidered reckless and the public will be-
come uneasy as to the safety Of its de-
posts; if he does not lend, he is called
a hoarder."
In my own judgment" said Mr..
Fleming, "a great deal of the criticism
against commercial bankers results
from lack of understanding Of the
proper functions of commercial bank.
1t Is not the function of commercial
bank to make loans which will put the
banker in the position Of a partner
contributing his share Of capital to the
enterprise"
Explaining the system of credit by
which this country does perhaps $780,
600 ,o0o, 900 worth of business on S.
declares. criticism of the banker for
not lending also overlooks the fact that
business is not borrowing as readily as
it once did"
Il have no desire" concludes Mr.
Fleming, ito make an indiscriminate
defense of all bankers. Bankers are
human. No doubt there are over
cautious ones now as there were reck-
less ones in years past. But no one is
more eager to promote business than
the banker, no one Is more willing To
make proper loans, for 1t Is only when
wenerai business thrives and borrows
md spends and repays that the banker
A. satisfactor1ly taking care Of his over.
mead costs and able to pay an adequate
return to his stockholders on the money