Evening star., 1934-05-22
ASSISTANT TRUST
OFFICERS NAMED
Five Elected by Directors
of National Savings
& Trust Co.
BY EDWARD C. STONE.

elected by the directors OF the Ma
tional Savings & Trust Co. at the
May meeting of the board late yester-
day, it was announced in the finan-
cial district today.
The new officers include Lester A.
Lawrence, Henry w. Branson, Chester
w. Fitzgerald, J. Fontaine Hall and
Herman c. Lauten. All five bankers
have been with the trust company
for several years and have had wide
experience in all departments of bank
ing, including trust work.
This action is the first important
move made since H. Prescott Galley
assumed his new position as president
of the trust company and William D.
Hoover became chairman of the
board after 25 years service as head
of the bank.
At the time of Mr.. Gatley's cleo
ton to the presidency Bruce Baird
was elected trust officer, with David
Bonet at first assistant. The five new
assistants will assume their duties at
once.
Confidence Grows Steadily.
The Bankers Magazine reports a
new era of confidence spreading
rapidly and replacing confusion in the
public mind. I'VE now see that the
country has not been ruined by any
thing that has been done at Wash
ington. Even the bankers, who for
years have denounced the insurance
of bank deposits in unmeasured terms,
are now coming back to look upon
q
tolerated-even to be approved when
limited as to amount.
People who long despaired are once
more taking heart, realizing after a
long and gloomy night that the sun
still is shining, and that the country
is not headed for complete destruc-
ton, the magazine adds. Confusion
is rapidly being replaced by conf
dence, the improved psychology rest
ing upon a substantial basis.
A cloud of no mean proportions
still hangs over the land-that of
unemployment; but its shadow stead
lily grows less, and the hope may be
entertained that it will soon disap-
pear entirely, the financial organ
ayers.
The magazine adds that in the
darkest hours of the depression, it
counseled its readers to have faith
in America. Happily, that counsel
is now being justified by the course
of events" it concludes.
Convention Goes Over Top.
Thomas J. Groom, general chair
man of the coming sixteenth annual
convention of the District of Column
bia Bankers Association, to be held
at White Sulphur next week. expressed
great satisfaction today over the fact
that the attendance will pass first
expectations. Latest reservation re-
ceipts have brought the number we'll
over the top.
The attendance will be between $50
and 200, a very satisfactory number
when general conditions are consid-
cred. 1t must also be borne in mind
that there are now 81 banks in Wash
jngton when for some years there were
43. That makes lot of difference in
the number of delegates as well as
the number of directors from whom
to draw.
The program has already gone to
press. One of the most active of all
the committees right now is the
Women's Committee under the chair
manShip of Mrs. George o. Vass. The
wife of the president of the aSsocia-
tion and her assistants are not going
to leave an idle moment for any of
the guests.
Several bankers have been seen
CT hof h
1t will be the best looking" party
yet held, says President Vass.
Beauty and brains will be splendid
Thomson of the Information Com
mittee.
Stocks Owned by Millions.
More than 100000 Americans,
representing one family III three, are
interested in efficient functioning of
the securities markets, Frazier Jelke
& Co. asserts in a current survey
of stockholders lists of 225 leading
corporations Without eliminating
Implications, it is estimated 10000. 900
names are registered as owners of
American companies.
To give an idea of the distribu-
tion of corporate ownership the firm
cites the fact that holders of the
two most widely distributed stocks
would form community as populous
as Nebraska, while a city the size
of San Francisco would be required
to accommodate all the shareholders
of American Telephone G. Telegraph
Co.
1T is apparent" the firm says.
"that public markets for stocks are
of vital interest to at least one out
of three American families. Any
thing which tends to reduce the
liquidity. lessen the market worth.
or circumscribe the collateral value
of stocks directly affects the wealth
and resources of the investments of
about one-third of the population"
Today's Trading Exchange.
Washington Gas Light SIS 1858 sold
to the extent of two 1000 bonds on
the Washington Stock Exchange at
SO today. Capital Traction SIS also
appeared on the board in four different
transactions, all made at 80, same as
the closing price last week. Stocks
were very much neglected, the only
Capital Traction, a small sale taking
place at Is, unchanged from the last
previous transfer.
New securities listed on the New
York Stock Exchange during April,
1884, six in number, amounting to
S130953, 200. were the largest since
the July, 1881, total of $416,356 ,730,
10 in number, and compares with the
March aggregate OF S30,552, 300, four
in number, and with the April, 1888,
figure of $3,5l9,630, three in number.
Life insurance sales in the United
States for the year ending April go
1884, were per cent higher than in
1888, according to the Life Insurance
Sales Research Bureau of Hartford.
While monthly totals have for some
time been ahead of the corresponding
months year before, this is the first
time since October, 1880, that sales
for the IL months just ended have
heeYo in nf fhnco he