Evening star., 1934-09-16
Session Set September 28
by PreSi( ent SiddonS of
D. C. association.
THOMAS AVID LANDS
TO BE AM 0NG SPEAKERS
Vice Governo of Reserve Board
and Commiss toner Will Appear
With Tre asury Officials.
BY EDW, RID C. STONE.

Washington mixers are to be given
full information on just what the Sc
curities exchar e act of 1884 will
mean in the o. Grafton of their owr
institutions at 4 special meeting oi
the District of olumbia Bankers AS
sociation, called by President Fred
erick P. H. St fons. The speakers
will include Go, ernment officials who
are most famili r with the act, anc
the meeting will be held Friday after
noon, Septembe 28, at the Willard
Hotel at oclo' k.
Vice Gov. j. j Thomas of the Fed.
eral Reserve Boa d and Commissioner
James NJ Lantis of the Nationa
Securities Excha tge Commission viii
be present, togetf ?r with officials from
the Treasury De )artment; DR.. E. A
Goldenweiser, di ector of Division ol
Research and 81 ,tiStics; DR.. Carl E
Parry, assistant director, Division OF
Research and S atistics, and Walter
Wyatt, general c. unset.
They will give Informally to the of.
ficers and direct Ts of the Bankers
Association infori Iation relating to tn,
- securities exchan act of 1884, out
lining briefly tn manner in which
banks will operi e under the rule:
and regulations ssued by the com.
mission and Fec ,ral Reserve Boarc
under the terms # the act.
President Siddo IS has appointed the
following commit ,e to make arrange
ments for this I Getting: George o
Vass, vice presid Mt, Riggs Nationa
Bank, chairman; Charles H. Doing
vice president, ashington Loan &
Trust Co., and Til mas j. Groom. vice
president, Bank Commerce g. Saw
1ngs.
Junior Banke Start Glasses.
The Fall semest r classes Of Wash.
ington Chapter, A lerican Institute oi
Banking, will oper tomorrow evening
Six subjects will be offered, includ'
ing bank organiza ion and operation
negotiable instrun ents, credit man
agement, corpora ion finance ant
investments, pub ic speaking ane
contemporary legis alton. The cours'
deals with the la VS. and regulation
that have been ps ssed recently, par
ticularly since tn bank holiday O
March, 1898. The class will be taugh
by Frederick p H, Siddons.
Bank organizat On and operation
will again be laugh by Eliot H. Thorn
son, publicity mar lger Of the Wash
ington Loan & TT lst Co. Negotiable
instruments will b, handled by Ray
mond B. Dickey, .iean of the facult,
and member OF the District of Colum
bia bar. Harold ". Burnside, ABB
assistant cashier, r ggs National Bank
will instruct the ella IS in credits l. Cor
poration finance nd investments
will be under the dl ,ection of James
Dulin, treasurer, American Security
Trust Co., member of the District o
Columbia bar, who has heretofore in
structed the credits / class. The publ
speaking class will be under the di
rection of Dr. El ner Lewis Kaysel
director, division G university exten
sion students, { gorge Washington
University.
Enrollments for the first semeste
are expected to ,e large as JUNO
bankers are taking more and more in
terest in technical banking education
First enrollments were taken durin
the past week by the consuls in tn
various banks. Faginning tomorrow
the class rooms WI | be open each eve
ming, with member of the Educationa
Committee preser to receive enroll
ments and aid pl spective students il
selecting courses or which they ar
best fitted.
Bank Call v ay Be Passed.
The possibility that the controlle
may omit the late September bank cal
has been freely q scuSsed in financia
circles during the last week. Accord
ing TO the Wal .,treet Journal. som
Federal officials eel that the bank
under Federal hlr sdiction are in sucl
sound condition that the call ma
easily be omitted AS only three call
are required b, la ", the next call doe
not need to be issued until the end O
December. Tie Wall Street Journa
adds:
Under the law. the controller G
the currency is required to issue a
least three calls a year for the con
dition of rational banks. The con
troller's Office makes it point to issu
calls on June 80 and December 3
each year for purposes of obtainin
year-end comparisons. On rare occa
sions either the March or Septembe
call is eliminated. So far this yea
there have been two calls and at leas
one more is necessary. If it is def
nitely decided to have only one NOR
call this year it undoubtedly will com
in December.
"Of1lcialS agree there is considerabl
expense and trouble to the banks il
answering a call. When condition
are such that they should not be bur
dened. some Federal authorities be
lieve that the call should be elm
mated"
Financial District Gossip.
Arrangements are coming alon
smoothly for the big convention c
the American Bankers Associatio
here in October. General Chairma
H. H. Mckee Of the Washington Com
mittee and his assistants have the ad
vance plans in splendid shape. ac
cording to reports from the Frida
committee meeting.
Chairman JOSEF h P. Kennedy of tn
Securities and change Commissio
is making every fort to avoid inter
fering with ligit nate sc ,urities az
tivities when the lew r. Is md regt
lations are annou Wed- Lloe ralizatio
OF registration ret Irene MS lnder II
securities act is l'oE being sttempte
in an effort to rel luve al unnecessal
demands.
Secretary of Treasury Morgentha
announced that s!O8 900 900 Of S524
T48, 500 of Treasu 1h per cent Gel
tificates were exc hanged for ~ D,
cent twO-year M tes offered by ii
Treasury In its Sc tember Is financin
operation. Exchs lges are continuir
and the Treasury 'eels that the entii
rrrill ha I'm,