Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-06-12
D, {, BANKERS NAME
POPE AS PRESIDENT
ON ANNUAL BALLOT
VasS Is First Vice President.
New Officers Installed as
Convention Ends.
galley IS REELECTED
TO POST OF TREASURER
Sports Events and Family Dinner"
Mark the Final Day of
Yearly Gathering.
BY EDWARD c. STONE,
stan Correspondent Of The Star.

Stau Correspondent Va 2he StoA'
HOT SPRINGS. Va. June lie. H.
Pope vice president of the Munsey
Trust Co.. was elected president OF the
District of Columbia Bankers Associa-
ton at the closing session of the four
tenth annual convention here today.
He succeeds himself, as he has been
acting president since the death several
months ago of Edward ]. McQuade.
George O. VasS vice president and
cashier of the Riggs National Bank.
was elected first vice president, and
Frederick P H. Siddons, secretary OF
the American Security g. Trust Co.,
concluded his year as association secre-
tary and was moved up to second vice
president Albert S. Galley, vice presi-
dent of the Lincoln National Bank, was
reelected treasurer for the twenty-third
time.
Most interest was manifested in the
election of secretary, as in the natural
course of events he will be president
of the association in four years. The
mantle was placed upon the shoulders
of Charles H. Doing. vice president OF
the Washington Loan g. Trust co. and
manager of the Seventeenth street
branch, who was chairman of this years
Convention Program Committee and has
done a great deal of other committee
WORK Tor the OrRaQlZdtlOn.
The installation of these officers was
made the closing event Of the business
part of the convention. Vigorous ap-
plause marked the appearance Of each
officer on the platform.
Pope Got Start With Munsey.
c. H. Pope. the associations new
president. started his financial and
banking career at the age OF 16 under
the late Frank A Munsey. Vice presi-
dent Of the Munsey Trust Co.. he has
been connected with the institution
since 1913
Arriving in Washington on May of
that year he became treasurer of the
trust company. which opened for bust
ness two days later. May Is. In June,
1918, Mr.. Pope was made vice president
and cashier and is now executive vice
president position he has held long
time.
He has always been active in the af-
fairs Of the District Bankers Associa-
ton and was chosen general chairman
of the 1923 convention. He was made
association secretary in 1929, elected
second vice president in 1880, first vice
president in 1881 and appointed acting
head of the association on the death
of E. J. McQuade.
Mr.. Pope is q director in the Wash
tngton Gas Light Co. member of the
Board of Trade and Columbia Historical
Society and other organizations. He is
a native of Goshen. N. Y His success
in plotting the association during the
past seven months proves the organiza-
ton is facing a particularly favorable
II months work.
Urges Advertising Campaign.
Chairman Eliot H. Thompson of the
Advertising Committee today presented
a committee recommendation favoring
an extensive advertising campaign to
show what banks have been doing, can
do and will do toward promoting the
recovery of prosperity" The commit
tee urges the combined use of news
papers, radio programs and financial
literature. the plan being to start such
An educational drive in the Fall The
association will act on the report later.
The best methods of handling the
new 2-cent Government revenue tax on
bank checks came in for an extended
discussion. This new tax goes into
effect in few days and must be paid
BY bank depositors. The Mechanics Of
recording the tax is new problem for
the banks.
Leniency In Collections
The convention has expressed the
belief that Washington banks and all
others shoulr adopt more lenient
policy toward holders of first trust
notes when payments come due and
not require curtailments in cases where
the holders are temporarily unable to
meet these demands. In a discussion.
opened by John Poole, president of the
Federal-American National Bank &
Trust Co., it was claimed that the fore
ing OF only small payment often
causes the owner to lose his property
and suffer needless hardship
Property buyers in Washington, who
have met their financial obligations
regularly in the past are likely to enjoy
more liberal treatment on first trust
note payments in the future, at least
until present business conditions show
marked improvement. Some Washing
ton banks have already adopted such a
policy, to the great relief of home
buyers. The matter was left to each
bank to handle in its own way, but the
exchange Of views resulted in one Of
the outstanding discussions of the con-
vention sessions.
At the final session of the convention
today resolutions were adopted COM
mending Theodore w. Noyes, editor of
The Star, and Edward ?. Colladay
for their efforts to obtain from Con-
gress an adequate Federal contribution
o the expenses of the District of Co.
umbia government; Harry j. Haas,
president of the American Bankers As
Lociation, for safeguarding the banking
interests of the country during the last
Jear, and Robert V. Fleming for his
~ork as chairman of the Legislative
Committee of the National Association.
Another resolution stated that bust
ness conditions in Washington are bet
ter than they are elsewhere and are as
satisfactory as one could expect in
view of the condition of the entire
country. We have ample credit in our
banks to take care of all local worthy
productive business that may need as
sistance."
Another said: while we should be
cautious In granting new loans. avoid
ing capital loans of long or uncertain
maturity and discouraging unwise spec
ulation, nevertheless we should encour-
age borrowing for the use of sound,
productive activities that will continue
and increase the employment of labor
of all kinds
Mr.. Fleming was elected to repre-
sent the District Bankers Association
on the Executive Council of the Amer
lean Bankers Association for three
year term, succeeding Francis G. Addi-
son. IT,, whose term expires in &C.
tober. Mr.. Fleming automatically be-
comes a member of the council OF ad-
ministration of the local association.
Lanier P. McLachlen, president OF the
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