Evening star., 1933-01-12
! k1tEtutL IL. nvLU
FOR WORK Of YEAR
f'ationaI Director Addresses
Local Chapter of Junior
Bankers.
~ EDWARD C. STONE.

T. Harold Stonier national educa-
t.olal director of the American Insti-
f.te of Banking, made a stirring ad-
o~ess before the Washington Chapter
J-ss night in the American Security
Building, IN which he congratulated
the chapter on the splendid record
r,sde in student enrolment and in
Jla-s work. Addressing the officers
faculty. board of governors, committee
Cnirlnan and consuls, Dr. Stonier said;
The members of this chapter are
to be congratulated upon the splendid
record they have made this year in
student enrollments and classes. While
tl3 institute has lost 10 per cent from
is enrolment for last year in the en-
ire organization of $50 chapters, this
CHAPTER Is ahead Of its last years en-
iollment which speaks very highly for
the character of the administration and
the support being given by the banks
OF the district"
Dr.. Stonier also paid special tribute
to Robert V. Fleming for his work as
chairman of the Legislative Committee
o. the American Bankers Association.
There are many important issues" he
said. regarding finance before the
legislative department of the Govern
ment at the present time. The Amer
ican Bankers Association is fortunate,
l believe. in having as chairman of its
TeiCral legislation Committee, Robert
Y. FLEMING from your own city. At
I 9 opening session of the last con-
-..,icn OF the American Bankers Asso-
4 ,on in Los Angeles in October he
J. Sc one of the most clear, lucid, and
dci' statements regarding Congress and
the business man that it has ever been
my privilege to hear"
Old Leadership Now Impossible.
Referring to the great changes in
financial leadership in the past 25 years,
MIR Stonier continued: On every hand
we hear complaint of the Mack of lead
ership in the present crisis Our con-
ception of leadership has not changed
materially, but the conditions out OF
which leadership comes have altered
greatly. and this makes it almost i'm
possible for any one to assume leader
ship now. People complain bitterly be-
cause We have no Harrimans, Hills,
Carnegies and others of the old masters
Of business and finance.
1.-TWO things have occurred which
make that kind of leadership almost
l1lHOSSlOlC az bAAS PACSCAlb AiAOAAiSAAt' ASNt
the present situation has grown TO too
great a volume in dollars and cents for
any one man to be able to dominate it.
The second factor is the wide diverSi-
fication of stock and bond ownership,
which is development of the past
decade The old masters never had to
reckon with such amounts of money or
with such numbers of security holders.
TrS4;.uto,S Craaf Channe
DR.. Stonier quoted a statement OF
Harry j. Haas. former head OF the
American Bankers Association, sum-
ming up the work OF the institute in
the estimate of banking leaders, when
Mr.. Haas said
The principles of good bank man.
agement can be taught. and common
sense can be cultivated, by means OF
technical education. Promotion or
banking education. therefore, is one OF
the major obligations of organized
banking.
I'm the American Institute of Bank
ing we have what is considered to be
an outstanding project for ADULT educa-
ton. The institute should be familiar
to every member of the association,
and every senior banker should insist
that his employees. wherever possible.
shall pursue its courses. 1t is one OF
the best practical methods possible for
bringing about universal good banking
Tor America"
Robert C. Lacey, chairman of the
Educational Committee. presided at last
nights meeting Robert A. Norris
chapter president; Paul j. SeltZer. chief
consul; Robert E. Lee, chairman Men,
bership Committee; Raymond B, Dickey,
dean of the faculty, and c. H. Pope,
president of the District Bankers As
sociation, were other speakers. The
meeting was very largely attended.
Todays Trading on Exchange.
Trading on the Washington Stock
Exchange opened today with $500
Washington Railway & Electric As SELL
ing at 90l2.
After call. Washington Gas IS. series
A, figured in three 81 900 sales at 10034
Washington Gas 5S, 1858, were again
In the limelight. These bonds opened
with a $1,000 sale at 94li, the price at
which the new issue is being offered
Other sales at the same price brought
the days turnover to $4,000.
Riggs National Bank stock was quoted
ex dividend today, following the recent
dividend action. Union Trust Co. stock
is also being quoted ex dividend.
Heard in Financial District.
The board of directors Of the Wash
in2ton Loan g. Trust Co. has declared
the regular quarterly dividend OF per
cent and an extra dividend of per
cent. payable February /, to stock
holders of record January "a.
Directors of F.. w. WoolWorth Co. to-
day declared a regular quarterly divi-
dend Of 60 cents q share. 1t is payable
March ! to stock of record February 10.
The Home Building Association. .723
Twentieth street NV, has adopted an
amendment to the constitution permit
ting membership of the association In
the Home Loan Bank.
The Chevy Chase Building & Loan
Association has amended the charter to
permit the issuance Of an additional
class of stock. Membership was sub
stantially increased during the past
year.
Capital Traction Directors.
At the annual meeting of the stock
holders of the Capital Traction Co.
held this noon. the following directors
were reelected.
George E Hamilton, John H. Hanna,
John M Perry, c. Thomas Dunlop, c.
c. Glover, jr., Merle Thorpe and S. P.
Thompson.
So much time was taken up in hear
ing and discussing annual reports that
the annual election of officers was post
poned until tomorrow.
Po;1uav Shons Reopen,