Evening star., 1933-06-24
STR|CTER BANKING
j. CALLED CERTAINTY
VIRGINIA Bankers Told of New
Deal in Handling of Pub
lies Money.
BY EDWARD c. STONE.

Sweeping changes in banking prac-
tices everywhere were forecast in re-
ports presented to the Virginia Bank
ers Association, in convention at Hot
Springs, by Thomas w. Ozlin, retiring
attorney for the association, and by his
successor. j. Randolph Tucker.
Mr. Ozlin said a complete revolution
had already taken place, the import of
which even the bankers have not yet
fully realized. He asserted the ma jor
problem of the next few years is the
restoration of confidence of the public
in banking institutions.
The storm through which we have
passed will no doubt 60 far to clarity
the atmosphere. and there will be
weeded out most of the weaker banks,
those which are a constant menace to
the communities in which they exist
and to a large extent to the banking
interests of the country as a whole"
Mr.. OZlin said.
There also is no doubt that from
now on a much stricter stewardship is
going to be required of those intrusted
with the important duty OF keeping and
handling the money of the public
Tucker Sees Control Increasing.
Mr.. Tucker who became the attor-
ney Of the association only a few
weeks ago, said the new legislation
would no doubt raise many legal ques-
tions.
He said no one at present could say
what would be the effect of govern
mental stock ownership or of the vast
credits advanced by the Government
upon the security of the choice assets
of non-uquid banks If the past be an
augury of the future, however, he said
an increasing measure of governmental
influence and control might be ex-
pected.
He said that likewise no one could
Soretell the results of the policy of in
tiation and asked who could foresee
whether the process might be perfectly
controlled He also asked if the Glass
Steagal bill foreshadowed the destruc-
ton of the State banking system and
the Inauguration of a unified system
of national banking, with centralized
Federal control of credit as well as
currency.
Urges Support for Farmers.
r. S. Cecil of Pulaski, chairman OF
the Agricultural Committee, urged full
cooperation with the county agents in
their efforts to bring back prosperity
to the farmers as producers OF basic
wealth He added:
Prospects for our farmers at present
are much brighter than they have
been for some time and their future
success will be greatly helped with the
proper cooperation of our bankers"
He said it was gratifying to know
that the tentative rating Sheet made
,lp by the agricultural commission OF
the American Bankers Association for
banker farmer work in Virginia dur
ing 1882, is higher than in any pre-
vious year, with a slight increase
over 1881 in spite of strenuous times.
q Appropriations by the association at
its last meeting for prizes to stimulate
elimination of scrub cattle, to improve
dairy herds and to encourage farmers
to raise food and feedstuffs was re-
viewed and the move pronounced a
success by the committee.
Hamilton Bank Support Asked.
Arthur Clarendon Smith, president
of the Central Business Mems Assocla-
ton. after announcing a subscription
to Hamilton National Bank stock by
the association. had this to say:
"As a merchant of Washington we
think it is the duty of every merchant
to support the opening OF this bank.
and the sooner the stock is subscribed
in full the better it will be for the
merchants of Washington.
THE Federation of Business Mems
Associations has gone on record as
favoring the opening of this bank and
recommends it to members to subscribe
stock in the same.
LAS president of this federation I
am glad to give my unqualified sup
port in recommending to the people
of Washington in joining in this most
worthy enterprise"
American Cotton Featured.
The Cotton Trade Journal, New Or
leans, has just published its 1898 in
ternational edition, Francis Hickman
being the president and publisher. The
edition is profusely illustrated through
out its 120 pages.
Featuring American cotton. this sew
enth annual review Of the cotton activ-
tiles of the world is the most ccmpre-
hensive as we'll as the most beautiful
of all of those which have been issued
by the journal. Contributors from all
parts of the world are included among
its writers this year, thereby giving
an international outlook to its calm
analysis Of the events in the cotton
markets of all countries during the
last II months
Perhaps the most important of the
many articles in this publication is that
contributed by John T. Egan, senior
agricultural economist in charge Of
field work division of cotton market
ing, Bureau CT Agricultural Economics,
United States Department of Agricul-
ture. Students of cotton will welcome
Its addition TO their libraries
Liberty Bank Votes Dividend.
Directors Of the Liberty National
Bank at their regular meeting yester-
day afternoon declared a dividend If
sl5o per share, President Rolfe E. Bol-
ling announced today. The dividend is
payable June 80 to stockholders June 81.
The Chevy Chase Building & Loan
Association has declared the usual divi-
dend at the rate of per cent per an
nun. payable July l to stock Of record
June 10 This is the eighth semi
annual payment since the organization
was started four years ago. The off,
GERS report steady business growth.