Evening star., 1932-07-24
Norris Appoints Various Com
mittee Heads to Serve for
Coming Year.
VASS TO BE CHAIRMAN
OF INSTITUTE ADVISORS
Riggs National Bank Official Was
Prime Mover in Expanding Activ-
tiles Last Year.
BY EDWARD c. STONE.

Richard a Norris of the Lincoln Ma
tional Bank, president of washington
Chapter. American Institute of Bank
ing has taken his first important step
a7 chapter head and appointed the fol-
lowing committee chairmen to serve
during the coming year:
Education-Robert H. Lacey. Colum-
bia National Bank.
Finance-Frank NJ Perley American
Sccurity &, Trust Co.
Auditing George Dagenais, Riggs
National Bank.
Publicity-Mabel V. Royce. Washing
ton Loan g. Trust Co.
Banquet-James A. Soper, Lincoln
National.
Dollars and Sense-A E. Henze. w.
B Hibbs & Co.
Athletics-Arthur c. Doying, Wash
irgton Loan & Trust.
Entertainmert-Wal H Sanderson
T Gcral-American National Bank &
Trust Co.
House-Raymond Weber, National
Swings & Trust Co.
Public Speaking and Debate-Aubrey
o. DooIey, Federal-American Bank &
Trust Co.
Menbership-Robcrt E. Lee, Lincoln
Notional.
IT Hunton Leith. Security Savings d
Commercial.
Women's Conlmittee-Mrs. Gertrude
Vck. Liberty National.
All these committee chairmen have
performed notable service for the lnstl-
tute in the past, several being former
cloan+er presidents Messrs. Perley,
Ecnze Soper. Dooley and Leith have
served as president and Mr.. Leith has
bpnn a member of the national eXecu-
tive council during the past three years.
The local chapter faces tlne year
work with such a strong list OF COM
m-ttee heads.
George o. Vass. vice president and
cashier of the Riggs National VINO Is
frs vice president of the DlStrlc.
Tankefs Association. has agreed to
so~ye as chairman Of the Institutes ad-
yisory committee. H has been famil-
lar with the work for years and last
wear old more than any other one per-
son in arranging for the Institute
greatly enlarged quarters.
Market Advance Causes Stir.
Bond men in the local financial dis
trict are especially pleased over the
strength now being displayed IN the
bond market The advance IN Stocks
and the increase In tradlng voluHs
he's also brought Joy to the brokerage
houses and at least made temporary
h~oak in the Summer lull." How Ions
t. upward trend will be maintained
r. one dares predict: it NAV be pro
tTaoted or relatively brief. The Alex
arrer Hamilton Institute thinks the
market NAV b. entering an accumuia-
tn zone. for there reasons:
"If the broader movements OF the
first six months are considered, /, Will
anpear as a pcr;od not without accom-
n'ishment and not without nope lor
tho future The reparations question
hos rassod from uncertainty 10 agree
r-cnt The world has drawn ITS Po!d
from our vaults end the strain mas
hoon met Progress has been MADE IN
clocki1g bank failures and both IN the
United States and abroad slgrs Oh
eo-ior credit conditions are apparenf..
Security prices have kept pace with
80 descent of business to the depths
p they kept pace when the ascent was
sAoop and the progress rapid. 1here
has been the same pressure to convert
soo1lrities into cash that there was
@C~uerlv to convert cash and credlt
INTO securities. For nearly three wears
tIa dollar has become dearer. And be-
c-use of thet. while corporations and
individuals have fewer dollars. those
which thev have will go much further
II the purchase Of everything Tor Whlch
rr0ney exchanges than would nave
hen deemed possible few years ago,
the institute says.
Heard in Financial District.
7 A. Pierce & Co. now are accepting
Ids selling at IS for margin accounts.
I--etofore the minimum price Tor
h ~ds on margin was TO- The move
10 firm states. was actuated b. the
g-1erallv better feeling in the bond
-~rket recently. and the Willingness of
tha banks to accept the relaxed
schedule.
The home loan bank bill. signed by
President Hoover. Friday. was the main
trpic of converse ton in the local f1nan-
cal district yesterday. Manv bankers
h-re have been opposed to the bill On
Tho ground that it would encroach upon
Business in the banking field, although
il is stated that the bill is intended to
furnish loans to home owners who can
Mt get money elsewhere.
The finals for the w. W. Spald
T,cphv in the Washington Chapter
A I. B. golf tournament were played
washington Golf and Country Club
Friday afternoon. baing won by w. B.
Pcbineon. who has been member OF
the CHAPTER for a number Of ySars and
ie n fC-,,,ar winner of the same trophy.