Evening star., 1934-04-21
OPTIMISM SHOWN
BY A. B. A. COUNCIL
Capital Bankers Back Home
With Glowing Reports of
improvements.
BY EDWARD C. STONE,

States are very much better and this
vital improvement is expected to con-
tinue for an indefinite period, in the
opinion of the American Bankers As
sociation Executive Council, which has
just concluded the Spring meeting
at Hot Springs, Ark.
Back in the Capital members of the
Washington delegation are most en-
thusiastic over the general feeling of
optimism prevailing among the dele
gates and also brought out in the
semi-annual reports.
Bankers attending the session from
here included Robert V. Fleming, sec
ond vice president of the A. B. A.
and president of Riggs National
National Capital Bank and Victor B.
Deyber, president of the Second Ma
tional Bank. E. E. Mountjoy, repre-
sentative in Washington of the A. B.
A, also was at Hot Springs.
When seen today Mr.. Fleming said
that optimism over the outlook among
those present at the meeting was un-
mistakable incidentally, he said, it
was the best attended Spring council
session in many years, the wide rep
resentation making the reports more
general and valuable.
Deposit Insurance Lauded.
The Federal Deposit Insurance
Corporation came in for a great deal
of praise from the bankers. Com
mendations of the temporary plan
and what it has accomplished were
heard on every hand. The belief was
general among the bankers that 1t
has been a distinct aid for recovery.
The reports were unusually inter-
esting. One of the best was presented
by Fred l. Kent as chairman of the
Commerce and Marine Committee.
This report took account of conditions
both in this country and abroad.
Ronald Ransom. chairman of the
A. B. A. Code Committee, summarized
the many difficult problems faced in
getting the original code into effect
and took much time in discussing the
code of fair practices which is ex-
pected to be put into effect gradually
as its provisions are approved by the
N. r. A. The Code Committee re-
mained at Hot Springs for further
two-day discussion of some of the
points at issue. 1t is now expected
that these fair practice regulations
will be adopted in different parts OF
the country at different times.
Another outstanding report was
presented by Col. Leonard P. Ayres.
chairman of the Economic Policy
Commission of the A B. A. The
Cleveland banker and economist
touched upon the changing conditions
in banking brought about by the de-
preston, spoke of the reduction in the
number of banks and in their aggre-
gate resources, and presented a highly
interesting picture of the present
business and economic situation.
Fleming Makes Two Reports.
Other members of the Washington
delegation declared today that two of
the finest reports presented at Hot
Springs were made by Mr.. Fleming
As chairman of the A. B. A Commit
tee on National Legislation he offered
particularly clear summary of the
exact status OF all the bills now before
Congress in which banking is most
vltaly concerned. No banker in the
United States has kept in closer touch
with pending banking legislation of
national Importance and every state
ment in his report reflected this
knowledge, his associates declare.
In addition to his report for the
committee on Federal legislation MIR.
Fleming reported for the A. B A.
Committee on Revision of the Bank
ing Laws. He is chairman of this
committee. The subject is one of the
most timely and far-reaching now be-
ing considered among bankers. The
report showed great care in prepara-
tlon and was teeming with practical
suggestions, according to those who
heard it presented.
H. H. Mckee spoke for the Wash
ington financiers in inviting the bank
ers from all over the country to the
A. B. A. annual convention. which
convenes in the Capital next October.
He is chairman of the Capital Com
mittee on Arrangements.
Mr.. Mckee assured his hearers Of
a most cordial welcome here, and
made such an alluring speech, that
convention stock took a tremendous
boost. When the council adjourned.
there was every indication that the
attendance here next Fall will be
very large, the best in several years.
Franklin to Pay S2,OOO,OOO
The Franklin National Bank is
ready to pay off about S2,O00,000 to
depositors in a few days, according to
announcement made this week by Off
cials. The Franklin is also nearly
ready to reopen as unit of the City
Bank of Washington.
The coming payment will represent
about IS per cent of the deposits in
the bank at the time of the closing
last year, when it was placed in
charge of a conservator. At that time,
1t had about $3,000000 on its books.
The exact date of reopening has not
yet been announced, but it will be
shortly. The banking office, at Tenth
street and Pennsylvania avenue, is
now being repainted, and the new
name of City Bank of Washington
will soon be in view
Thomas P. Hickman, who has been
acting as conservator of the Franklin,
has been discharged from these duties.
The former vice president of the
Franklin will be an officer in
the new deal, while President John B.
Cochran will be chairman of the City
Bank of Washingtons board of
directors.
Capital Transit's Pass Record.
The high mark so far reported by
the Capital Transit Co. in number of
passes sold in one week was $1,000
taken by patrons on the street car
lines the week before last. Traffic so
far in April has been very heavy
keeping up the pace set every month
since the merger went into effect on
December l.
Results obtained by the Southern
Railway from its reduced passenger
fares of IL cents a mile, represents
the first ray of sunshine on the rail-
road passenger horizon" in a long
period, the carrier told the Interstate
Commerce Commission in asking per-
mission to extend the reduced fares
for another six months to December
81, 1884.
Bankers here are much interested