Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-06-14
BANKERS TO SHOW
VALUE OF SERVICE
Public Relations Committee
Will Advertise Functions
of Financial Institutions.
BY EDWARD c. STONE.


Hot Springs was the vote taken in
structing the president to appoint a
Public Relations Committee. The pur-
pose of the committee will be to present
the work and services of the banks in
new light before the public, to win
greater favor from patrons and at the
same time check much of the criticism
so often heard regarding the unwilling
ness of the banks to make loans, the
boarding" charges. and other similar
attacks which bank officials consider
unfair and unjustifled.
The new committee will probably pre-
Bent its views on banking through news
paper advertising and over the radio.
The personnel of the committee will be
announced by President c. H. Pope
when he names his other committees
for the coming year.
The new committee will in no way
conflict with the work Of the asSocia-
items Advertising Committee, which has
been functioning so successfully 1Cr
years. but will naturally keep in very
close touch with this committee.
The association had so much business
that it was necessary to hold night
session on Friday. 1t was at this ses-
sion that the value of Public Reia-
tionS Committee was specially stressed.
Local Bankers Specially Honored.
From Richard A. Norris, president OF
Washington Chapter, American 1nStl.
tute of Banking, comes telegraphlc Woro
from Los Angeles that four local
bankers have been accorded special
honors at the Institutes national con-
yention. with these appointments.
T. Hunton Leith, assistant cashier,
Security Savings &, Commercial Bank,
chairman of the Resolutions Committee.
Miss S. Winifred Burwell, assistant
trust officer, National Metropolitan
Bank. member of the Women's Com
nlittee. :.
Frank NJ. Perley. American Security
g. Trust Co., member of the Public
Education Committee.
Aubrey c. Dooley. assistant trust offl-
Ger Federal-American National Bank
& Trust Co.. member Of the Depart
mental Conference Committee.
Mr.. Leith is just completing three
wear term as a member of the National
Executive Council and has long been
active in both local and national 1nstl-
tute affairs. He is a past president OF
Washington Chapter.
Miss Blrwell has been actively identi
fed with Washington Chapter for some
time and served last year as chairman
of the Women's Committee OF the local
CHAPTER.
Mr. Perlev is past president of
Washington Chapter and last year was
a member of the chapter Admlnlstra-
ton Committee He was chairman OF
the Finance Committee of the local
CHAPTER this past year
Mr.. Dooley. president Of the chapter
last year has served on two national
committees. having been chairman OF
the Institutes Publicity Committee two
years ago.
In addition to these honors, the local
chapters publication. Dollars and Sense.
edited by Norman E. ToWSon, assistant
treasurer of the Washington Loan &
Trust Co.. received honorable mention
in the magazine award. This magazine
has twice previously won first prize for
the best chapter publication.
The district within which washington
Chapter is located received the award
for having the largest amount Of pub
licity The work of Robert H. Lacey,
cashier of Columbia National Bank. as
local publicity chairman, contributed
substantially toward this recognition.
Heads Insurance Office Here.
Appointment of Frederick " McNair
retired commander in the United States
Navy, as general agent Of the Lincoln
National Life Insurance Co. in Wash
ington was announced at Fort Wayne
Ind, yesterday at the company's home
Office.
Comdr McNair. who retired from the
Navy after 80 years Of service has been
In the insurance business for six years.
He maintains his residence in Annap-
oils. but his office is in the American
Security Building, Washington.
Today's Trading on Exchange.
The first bank stock transaction
recorded on the Washington Stock Ex-
change in some time took pace today,
when five shares of National Metropoli-
tan Bank changed hands at 275
Bonds get most of the attention at
today's session. 81 900 Washington Gas
6s, series B, moving at l00l2 ST 900
Washington Railway & Electric as at
807s and $1,000 washington Gas Light
IS at 1907.
The only other sale for the day was
in Potomac Electric Power SD per cent
preferred stock, small lot registering
lO1
Urges Buying of Own Securities.
AS a check on the further decline in
security prices corporations were urged
to utilize surplus cash for the purchase
for retirement of their securities, by ].
Stewart Baker, president of the New
York State Bankers Association. at the
thirty-ninth annual convention, for
three reasons:
First. 1t would reduce the amount
of securities outstanding, which in turn
would decrease collateral loans and
tend to check the fall in security prices.
Second. It would cause corporations
to borrow from the banks to take care
off their seasonal requirements, thus in
creasing the supply of eligible CONNER
cial paper
Third. 1t would benefit the remain
ing bondholders and stockholders. for
the securities. whether they be bonds,
debentureS or stock could be bought
considerably below par or book value.
Cleaned in Financial District.
American Stores Co. for the four
$9.463,1 1870 against S10.389693 in the
same period year ago. For the first
five months of 1882 sales totaled S49,-
789,457 against S58,55l ,595 in the SINH
lar period in 1881
Harry J. Haas, president of the Amer
lean Bankers Association, who address,
ed local bankers last Thursday, speaks
today at the annual convention of the
New York State Bankers Association.
His home is in Philadelphia, but he sees
very little of it these days.
Members of the council of admins
tration of the local bankers association
have presented c. H. Pope with hand
some diamond pin in recognition of his
services to the association during the
past year.
Massachusetts, Investors Trust has de-
clared quarterly dividend Of 81 cents
a share. payable June 80 to stock of
record June Is. On March 81, the dis
tribution amounted to Of cents a share
Adams Express Co. has omitted the
quarterly dividend of Sl25 due on the
preferred stock at this time.