Evening star., 1933-06-02

Offices are in charge of Chester w.
Lockwood and Thomas j. Mangan.
MIR. Harrison is one of the very first
officials in any of WaShington'S closed
banks to establish entirely new business
associations He is native of Lees
burg, Va, and obtained his first bank
ing experience in bank in Leesburg
He is distant relative of Fairfax Har-
Tison, president Of the Southern Rail-
way.
Member Banks Reduce Borrowing.
The Federal Reserve Bank of Rich
mond in its monthly review of bank
ing, credit and agriculture, states that
rediscounts for member banks at the
Richmond Reserve were reported to
have declined moderately last month,
at a time when member bank needs
for loans to finance crop planting
might have been expected to cause an
increase in rediscounts
Federal Reserve notes in circulation
decreased more than Seasonally and
cash reserves at the reserve bank rose
between April Is and May IS. Bank
deposits rose, demand deposits at the
middle of May exceeding those OF mid
reduced their borrowings at the re-
serve to very low point.
Agricultural prospects in the district
as a whole were described as better
than at the same time last year. Crops
are coming to good stands, with plenty
of moisture in the soil, and more ferti-
lizer is being used this year than last.
D. C. Exchange Trading Today.
The opening sale on the washington
Stock Exchange today transferred 10
shares of Washington Railway & Elec-
trio preferred stock at 8612, up half a
point from the last previous sale.
Mergenthaler Linotype came out on
the board in six separate 10-share
transactions. all made at %, against
recent sales of the stock at 25. The
stock closed with % bid and "a asked.
Potomac Electric Power 5l2 per cent
preferred figured in two 10-share sales
at LOG. Another tiny sale was regis
tered at 1857.
Bond trading was confined to $1,000
and $4,000 sales in Washington Gas 5s,
1860, at 102.
Bank Chapter Has $40 Members.
EnrollmentS in the IL subjects offered
by Washington Chapter, American In
Stitute of Banking, for the school year
1928, exceeded 430, and total men,
berShip in the chapter was over $40,
according to review Of the year by
past president, Richard A. Norris, con-
tained in the current number of Dollars
and Sense, the chapter publication,
just issued. The chapter is eleventh
in individual students and tWenty-sec-
ond in membership among 234 chapters
in the United States.
The new administration of the chap
ter, headed by President Robert H.
Lacey, has now taken Office and, in
forecast for the coming year, President
Lacey sets forth in the magazine the
determination Of his administration to
carry on the work of the organization
in the same constructive manner that
has characterized its past record.
Cooper Urges Economic Education.
At least ore benefit of the four-year
depression is an advance in the popu-
lar demand for economic education Of
a more practical and useful sort, &C
cording to members of the National
Association Of Mutual Savings Banks.
The way now seems open for inclusion
in the school curriculum of the country
of a course of instruction in the prac-
teal problems Of personal economic
management. The bankers, co-operat-
Ing WIN bA4C NAONoNOAoi AiOE(S W AAANhC
the study of economics as practical as
the three Rs of every day education.
This movement was inspired by real
ization of the fact that even the broad
sweep of modern education still fails
10 furnish anything like adequate in
struction in the handling of the per-
sonal economic affairs of individuals.
The whole movement might be de-
scribed as an attempt to give the next
generation a better understanding of
personal economics, beginning with the
simple problems with which young peo-
pie are faced in their educational ex-
periences, and leading to the broader
problems of the management of their
entire economic life
DR.. William John Cooper, retiring
Federal commissioner of education, Is
chairman OF a national commission tc
study the subject, this group including
representatives of education and busi-
ness.
Heard in Financial District.
Grayson MP. Murphy was elected
at a meeting of directors OF Anaconda
Copper Mining Co. to fill one of the
vacancies on the board. The Other
vacancy and the Craftsmanship vert
left unified. Other officers we're re.
elected. The late John D. Ryan wa
chairman Of the board.