Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-06-13
D. c. BANKERS HOME.
FROM CONVENTION.
Hot Springs Meeting Highly
I SuccessfuI-Sports Events
! Winners Announced.
BY EDWARD c. STONE.

J BY EDWARD c. STONE.
] The fourteenth annual convention OF
the District Bankers Association be-
S came history when the Bankers Spe-
cial" arrived at the Union Station at =
am. today from Hot Springs, Va.
4. Many bankers consider it the most
important meeting of any yet held be-
cause of present banking, business and
other complicated financial conditions.
1t had one distinction over all the 9TH
ers, the honor OF entertaining the presl-
dent of the American Bankers ASsocla-
ton. Harry J. Haas.
In the final sports events the Mangan
Tennis Cup was won by Charles Carroll
. Morgan, with F. P. H. Siddons second.
Chairman Sidney F. Taliafcrro of the
Sports Committee late Saturday night
announced ether cup winners as follows:
HibbS Clp-William John Eynon, with
Horace c. Smithy, w. j. Waller and
Robert s. Stun his closest rivals; Pop
Fleming Cup-Robert V. Fleming; Nc
Lean Top-spinning Cup-Maurice OF
terback; Gruver Cup. horseshoe pitch
ing-S. Wilson EarnshaW; second John
H. Hulse; Hatton Golf Cup-Maurice E.
Horton; Shannon Golf Cup-Charles H.
Doing, followed by Roger Whiteford
Merle Thorpe and C. E. Gersten; Nc
Iachlen Cup-CharleS T. Clagett, ms
closest rivals being F. G.. Addison, IT.;
Nathaniel Mountford and Robert H.
Lacey: Tom Thumb winners-George
Wilson. Mrs. Thomas w. Brahaiiy,
Thomas w Brahany, Frank S. Hight
and Mrs. john Poole. All winners be-
sides those getting cups being given
suitable prizes. The Tom Thumb COIL
tests were daily events, which accounts
for so many winners.
Many Bank Presidents Present.
The attendance numbered nearly no.
fine showing. The presidents of
many local banks were there, as were
/ many past presidents of the associa-
ton. The latter were Francis G..
Addison, jr: Victor B. Deyber Mr..
Fleming, L. P. McLachlen. John Poole
w. w. Spaid, Joshua Evans, jr., and
Wilmer Waller
Ernest E. Herrell, head of the Inter-
national Finance Corporation, has at
tended more District of Columbia
Bankers Conventions that any other
person there. 1t is said he has been
to every one of the IA. George H:
Keesee again represented the Federal
Reserve Bank Of Richmond for the
tenth or twelfth time, while l. l. Choir
pening head bank examiner for the
fifth Federal Reserve district. repre-
sented the Treasury Department.
The resolutions covered a very wide
range. commencing all officials from
President Pope down, all the committee
chairmen, and showering gratitude
upon the three guest speakers; Frank
j. Hogan, the associations general
counsel and his assistant. William H.
Donovan A special resolution praised
the work of Mrs Grace Bromley Bailey,
who has supervised the Office of the
association faithfully and efficiently
for nine years. Because of her recent
marriage Mrs. Bailey is soon to leave
the association. She was presented
purse of gold in appreciation of her
long service.
Resolutions covering PRINCIPLES and
policies were also adopted. The unfa-
vorable aspects of present conditions
the resolutions said. are Offset by sew
eral favorable symptoms, among which
are:
"A realization by all classes of our
plight, which is stimulating our courage
and determination to Surmount our diff
ficulties: the creation of the Recon-
struction Finance Corporation and other
sound methods to utilize our credit ia
cilitieS; the decline in bank failures: the
abundance OF credit On hand and in
reserve for legitimate productive pur-
poses; a feeling everywhere that politics
and the strife for Immediate personal
advantage and gain should be laid aside
in the interest of general welfare, and
finally, determination to balance the
national budget and insist on the eco
nOmlcal use Of taxes paid by the people
in the conduct of both local and ma
tlonal governmental affairs
Other Convention HIGH SnotS
The annual election centered largely
other officers were all advanced a notch
Chatles H. Doing joined the official line
as secretary.
Election of Mr.. Fleming to represent
the District Bankers Association on the
executive council of the American
Bankers Association, is the highest
honor in the gift of the local associa-
ton. He will succeed F. G. Addison, jr.,
after the October convention. Through
his brilliant work as chairman of the
A. B. AS National Legislative Commit
tee, Mr. Fleming has become a national
figure in the banking profession.
The delegates were delighted with
the address made by Merle Thorpe, ed
tor of the Nations Business Nj
Thorpe denied that this is the biggest
and best" depression in history; pointed
to serious labor troubles and troop mob
ilizing in other business slumpS and de-
clared that in the long run lower stand
ards of living are not going to be neceS-
sary in this country. He does not say
that things will go back to the high
1929 scale, but he looks for substantial
improvement over present conditions.
In his travels over the country he has
learned of thousands of corporations
that have cut expenses and production
until they are now operating on pay
ing basis. They will have a small mar
gin of profit at the end of the year.
He has business figures at his fingertIps
to support his assertions. Perhaps his
most startling figures, however, related
to the amount of money each individual
now pays toward the cost of govern
ment
Bankers Getting More Liberal.
The matter of greater leniency on re-
quiring payments on firSt-truSt notes is
of very wide local Importance Borrowers
with first-class financial standing are
sometimes unable to curtail their notes
wner payments are due. The opinion
OF the convention was that they should
be favored as much as possible and
helped to retain their property. 1t is
a policy of far-reaching significance to
home owners. There are times when
it is hard for some people to raise $3.50
for a payment as to get 100000, yet
in the end all payments can be met, "
said a local banker at Hot Springs.
''Such people should be protected rather
than ruined"
The resolutions urged care in all
loans but called for close cooperation
with business Banks depend on bust
ness and business on the banks. The
two must be mutually helpful"
This years annual reports were I'M
usually interesting. The public will be-
gin paying a 2-cent tax on checks in a
few days and another tax on safe de-
post boxes. The best way of making
these collections for the Government
engaged the attention of the convention