Evening star., 1932-02-07
President MergIer Coming
Here for Annual Banquet
of Washington Chapter.
D. C. ASSOCIATION PUSHES
PLANS FOR CONVENTION
F. H. Cox Is Appointed Chairman
of Transportation Committee
for Hot Springs Trip.
BY EDWARD c. STONE.

Henry j. Mergler, president of the
American Institute Of Banking, of Gin
cinnati, will be the guest of honor at
the annual banquet of Washington
Chapter, February 13, at the Willard
Hotel, it was announced yesterday. He
will be one of the chief speakers and
will picture all the latest developments
in the national organization.
Born and educated in Ohio, he began
his banking career in 1902 in Marietta,
with the Dime Savings Bank, going
from there to Cincinnati. where he
became connected with the Union Saw
ings Bank & Trust Co. being elected
assistant treasurer in 1919. He studied
law, was admitted to the bar in 1907
and practiced for the next two years.
Joining the institute in 1904, he be-
came very active following graduation,
was Cincinnati Chapter president in
1911, after which he taught commercial
law and negotiable instruments for IL
years He also taught the same subject
in the Cincinnati College of Finance.
In addition to being national president
of the institute he has served on all the
important committees and the national
council. In recent weeks he has spent
a great deal of time visiting the various
chapters.
I. j. Roberts, chairman of the Dinner
Committee, reported yesterday that all
arrangements are now completed Tor
the annual event An attendance OF
900 is now expected.
Cox Transportation Chairman.
Rapid progress is being made under
the leadership of Claude H. Woodward
general Chairman, toward making the
annual convention of the District OF
Columbia Bankers Association, at Hot
Springs this year, a notable event
After conference with c. H. Pope, presl-
dent of the association and vice presl-
dent of the MunSey Trust Co., Mr.
Woodward announced yesterday the
names of the men to compose the
Transportation Committee. AS this
committee has in charge all the ar
rangements for the movement of the
bankers, their wives and guests, the
selection of its members has been made
with especial care.
The chairman is Frederick H. Cox,
cashier of the Commercial National
Bank His selection was a foregone
conclusion in view of his most success
full management of the same task for
the convention at Hot Springs, Va, last
Summer He will be ably assisted by
]. Frank White, cashier Of the National
Bank of Washington, as vice chairman,
anu lIle QUIET IleLlUeIS VI IIle COIlHllIl-
tee. who are Maurice Otterback presi-
dent, Anacostla Bank; John A. Eckert,
president, North Capitol Savings Bank;
F. J. Kaufman, jr president, Inter-
national Exchange Bank; c. D. Rat
cliffe, vice president, MunSey Trust Co.;
B. Agee BoWleS. vice president, Potomac
Savings Bank; C. C. Lamborn, treasurer
National Savings & Trust Co., and Rob-
ert J. EarnshaW, treasurer, Washington
Savings Bank.
James B. Edmonds. assistant general
passenger agent Of the c. & o. Railway
Co, will have charge of the special
convention, which will be held in the
Homestead Hotel, June 9-12.
Trading Confined to Bonds.
Bonds again drew all the attention
on the Washington Stock Exchange
when the weeks business closed yester-
day. Washington Gas Light IS, series
A. recorded two 81 900 sales at 1901,
while Capital Traction SIS figured in two
81 900 sales and one $500 transfer at
CO. The weekly check on the prices of
unlisted local securities revealed but
few changes.
The regular Spring meeting and the
annual pre-convention dinner of the
combined this year, and held at the
Columbia Country Club on Tuesday,
April u. AS already noted, Lanier -.
McLachlen has been appointed chair
man of the committee, the other men,
bers being Earle M, Amick and T. STAN
ley Holland
Financing of the IL Federal Inter
mediate Credit Banks for February will
comprise an issue of S15,000000 of per
cent collateral trust debentures with
four months maturity. The consoli-
dated statement as of December 81 last
shows a reduction in the indehtA|-lesS
of these institutions, represented by de-
bentUres outstanding to S78,840.000 as
4 December 81 from $l03,800,000 on
september 30, and a further reduction
TO SIS, 10000 as of February l, 1882.
On June 80, 1881, outstanding deben-
lures totaled $l06, 100000, so that the
current Indebtedness Of the banks is
$50 100000 less than seven months ago,
the Treasury reports.
New Idea Advanced on Thrift.
Here is an idea Of thrift which. in
the opinion of the American Banker,
is much more optimistic than the old
idea of saving:
Formerly it was the custom to ad-
wise about the dangers of poverty and
the need for setting aside some money
for the mishaps that would occur
throughout lfes journey True as
these preachings no doubt we're, never
thelesS they were peSsimistic. That
idea was to make people save,
not for any particular pleasure they
might derive from it. but as a bulwark
for the misfortuneS that were going to
overtake them. Our present ideas Of
thrift are to play up to the pleasant
side of it. Save for future benefit.
After all. the new concept is the most
efficient because we all prefer to do
those things which are pleasant"