Evening star., 1934-05-20
Addison to Give Analysis of
Accounts at White SuI-
phur Springs.
TH0M TO GIVE ADDRESS
ON TRUST PROBLEMS
James P. Nolan Made President
of Washington Bond Club
at Annual Election.
BY EDWARD C. STONE.

Based on the fact that service
charges have come to be one of the
most vital factors connected with
banking operations, the Program Com
mittee of the District Bankers Asso-
citation has given this subject promi-
nent position at the annual conven-
ton to be held at White Sulphur
Springs next week. Francis G. Addi-
son, jr.. who has given the problem
great study, will address the gather
ing on Analysis of Accounts" ac-
cording to announcement made by
Chairman w. J. Waller yesterday.
The big idea of the service charge is
to see that every account yields the
bank a profit. What bankers are
most interested in are the best and
quickest ways of keeping tabs on
each separate account.
1t also was announced yesterday
that Corcoran Thorn, president of the
American Security & Trust Co, will
speak on Trust Department Prob
lens" at the convention. Before
being elected head of the trust COM
pany, Mr.. Thorn was the banks trust
officer for many years. He is consid-
cred one of the leading authorities
IN the city on all trust matters. As
there are five trust companies in
Washington and eight national bank
ing with trust departments, the sub
ject is a most timely one.
Other speakers on the program, who
already have been announced. include
Robert V. Fleming. Merle Thorp,
iaI- D I CiISn1oc nh Erodi-
colt, Hilleary c. Hoskinson and
Robert H. Lacey. There will be other
informal addresses as well as i'm
portant annual reports.
George o. Vass, president of the
association, will preside at the open
ing session, Monday, May 28; F. P.
H. Siddons. first vice president, will
take charge of the second days pro-
ceedings while Charles H. Doing. sec
ond vice president, will conduct the
deliberations of the last day. Regis
trations are exceeding expectations,
according to Thomas J. Groom, gen.
eral chairman of the convention.
Nolan Heads Bond Club.
A new administration for the Bond
Club of washington was named and
unanimously elected yesterday at the
clubs annual meeting.
James Parker Nolan, a partner in
the investment banking firm of Folger,
Nolan & Co.. was chosen for the Office
of president. James H. Lemon, a
partner in the securities firm of James
M Johnston & Co.. was chosen as vice
president. Carl R. Kurtz, head of
Stroud. Kurtz & Co., was voted into
the position of secretary-treasurer The
new governors for the coming year
are T. C. Montgomery of Waggaman,
Brawner & Co., Inc, and L. Clark
Brown. partner in the firm of Brown,
GOODWIN G. Co.
With a conspicuous revival in in
vestment activities, and a fresh i'm
petus expected with modification of
the securities act of 1888 by Congress
in the next few days. the Bond Club
undoubtedly will resume the top speed
activities. business as we'll as social,
which chara cterized this organization
of securities experts in the pre-depres-
sion period.
Mr.. Nolan, the new president. takes
the mantle laid down by Frank P.
Morse. He has been active in the
club for years. serving during the
last year as vice president, and stands
high in the financial district.
Financial District Gossip.
Directors of Peoples Drug Stores,
Inc, have declared the regular quar-
terly dividends of 25 cents a share on
the common stock, payable July ? to
stock of record June 8, and S16212 on
the preferred. payable June IS to stock
of record June l.
General Johnson hss approved
amendments to the code for mutual
savings banks providing for establish
ment of uniform maximum hours of
banking operations and the setting up
of subcommittee to assist in code ad-
ministration. effective July 16. Sub
committees will adopt local rules on
competitive banking practices
j. A. Weinberg. jr., of Stein Bros. &,
Boyces Washington office, spoke be-
fore students at Maryland University
Friday on the services rendered by
New York Stock Exchange firms to
tlIC puDlS'
Rose Scorgie, advertising manager
of the State Planters Bank & Trust
Co, Richmond, is author of Saga of
the Veldt." volume of poems just
published in New York. Miss Scorgie
is widely known also as author of
"Historic Highways in Virginia"
Creation of a separate insurance
fund for mutual savings banks into
which contributions from mutual saw
ings banks alone should be paid and
from which only losses occasioned by
mutual banks should be disbursed, has
been urged by savings bankers of the
country, according to the report of the
Committee on Federal Legislation SUBJ
mitted to the National Association of
Mutual Savings Banks at their con-
ference.