Evening star., 1932-06-07
BANKERS MEETING
STARTS THURSDAY
Head of National Association
Will Speak at Opening
Session.
BY EDWARD C. STONE.

Harry j. Haas, president Of the Amer
lean Bankers Association. will speak on
the opening day Of the Fourteenth An
nual Convention Of the District Bankers
Association, which opens at Hot Springs,
Va, Thursday morning.
The address Of the acting president
of the District association, c. H. Pope,
and another address, by Kenneth F.
Brooks. chairman, fiduciaries' section,
are also on the first days program.
Francis G. Addison, jr, will lead a
Congress which Is of particular interest
to the local banks. Appointment OF
committees, resolutions and meetings OF
the national, savings, State and trust
company divisions of the American
Bankers Association will end the first
days business.
Merle Thorpe, editor, Nations Busi-
ness, is to open the second days ses-
sion with an address on Whats New
on the Rialto." Vice President George
o. Vass will preside. The American
Institute Of Banking will get lot OF
attention, with an address on Better
Bankers in the Making" by Aubrey 0.
Dooley, retiring president of Washington
Chapter. after which the three winning
ESSAYS will be read by Norman E. Tow
son, John R. Keener and Robert B.
Morris.
Joseph D. Yerkes chairman OF the
safe deposit section and Arthur j. Linn.
chairman of the auditors section, Will
make their annual reports.
The third session will be one OF the
busiest of the three. Charles w. Col
Inns will speak on The Glass Banking
Bill" Committee reports are due from
Eliot H. Thomson, Frederick H. Cox,
Edward L. Hillyer, j. Frank White,
Thomas ]. Groom, Hilleary G. Hoskln-
son. T. Hunton Leith, Charles H. Doing
and H. H. Mckee.
Election Of officers for the divisions
OF the American Bankers Association,
for the District Bankers Association
and presentation of final reports and
resolutions will conclude the business
sessions.
The family dinner" on Saturday
evening and a crowded sports program
will add important touches to the an
nual meeting.
ID. C. Now Has ,324 Phones.
Telephone development in Maryland,
Virginia, West Virginia and the District
of Columbia exceeds that of all South
America, according to world telephone
statistics. This area containing about
100000 square miles is now served by
more than 747,900 telephones. In COM
parison, nine countries in South Amer
lea with e,64S;ooo square miles have
only 100000 telephones. With the ex-
ception of Argentina, which had 100000
telephones, and Brazil with l62.670
telephones. all OF the South American
countries have far fewer telephones
than the District OF Columbia or either
of these three States.
The District Of Columbia is now
served by 182,3 1924 telephones; Mary
land, 2l5O0; Virginia, 205,110, and
West Virginia, $4,000 telephones Not
only are there more telephones IN these
States than in the South American
countries, officials of the Chesapeake &
Potomac telephone companies point
out but there are many cities in this
area with even more telephones than
entire countries In South America.
Cities with more telephones than
number of these countries are Balti-
more, l38338: Cumberland. 6,644;
Hagerstown. 6,106: Annapolis, 1882,
and Frederick, 1868.
In Virginia, Richmond is served by
43345 telephones: Norfolk. 26,879:
Alexandria, 4346; Clarendon, 1913, and
Winchester 2,475.
Bankers Open Golf Tourney.
Arrangements have been made for
the holding of Washington Chapter,
A. I. B. annual golf tournament at the
Washington Golf and Country Club.
The qualifying rounds are being played
this week and the first Is low scorers
will qualify for final play the winner
gaining possession of the w. w. Spaid
Trophy for one year.
This event was won last year by
William B. Robinson of the Bank of
Brightwood, who will defend the cup
this year
The event is being handled by Ar
thur o. Doying of the washington
Loan & Trust Co.
Seabury to Address Bankers.
Judge Samuel Seabury, counsel to
the HofStadter Committee now investi-
eating the affairs of New York City,
will address the New York State Bank
ers' Association at its annual conven-
ton, to be held at the Westchester
Country Club, Rye, N. Y, on June
1915. inclusive.
Other speakers will include Joseph
"A. Broderick, State superintendent of
banks; Benjamin NJ Anderson. jr.,
economist of the Chase National Bank;
Harry j. Haas, president, American
Bankers Association; j. H. Hustis, vice
president, New York Central Lines;
David B. Hutton, managing director,
Savings e. Loan Bank of the State of
New York, and w. A. Mcconnell, vice
president. Bankers Trust Co., Little
Rock, Ark.
National Credit Calls Notes.
The National Credit Corporation has
called for redemption on June 13 10
per cent of the original principal
amount of each of its outstanding notes.
This is the sixth partial redemption of
these notes.
Trading was confined to bonds on
the Washington Stock Exchange today
The market opened with $1,000 WASH
ington Gas IS, series A, selling at 90.
Washington Railway & Electric As fig
ured IN two $1,000 sales at 81.
Insurance men are looking with great
interest to the June luncheon tomor-
row at the Washington Hotel, when
the guest speaker will be DR.. S. S. Hueb-
ner. dean of the American College of
Life Underwriters and a member of the
University of Pennsylvania faculty.
Both Wcolworth and S. ). Kresge
reported a decrease In sales today for
May and for the first five months of
the present year. The decreases for
the five months were much smaller
than the slumps in May.
Dividend changes in May, both favor
able and unfavorable, showed little
change from the number reported for
April, according to the Standard Statis-
tics Co. Unfavorable changes totaled
235, in comparison with 240 in April,
while favorable changes increased from
S6 to 38.