Evening star., 1934-11-12
ABA 0PENSDR|VE|
TO BOOST TRADE|
Committee Named to Work
in Closer Cooperation
With Administration.
BY EDWARD C. STONE.

by the American BANKERS Association
to comply with the urge of President
Roosevelt for a closer alliance be-
tween the banking interests of the
country and the administration. Such
cooperation was requested by the
President in his address before the
recent A. B. A. national convention
held here, and was promptly pledged
by the financiers both in addresses
and resolutions.
An Advisory Committee of bankers
representative of all sections of the
United States has been appointed by
President r. S. Hecht to cooperate
with the export-import banks of
Washington, created by executive
order of President Roosevelt early in
the year as an aid in financing and
facilitating the Nations foreign trade.
Robert F. Maddox of Atlanta, who
was president of the association in
1918, will serve as chairman of the
committee and Fred I. Kent, director
of the Bankers Trust Co., New York,
who has long been chairman of the
associations Commerce and Marine
Commission, as chief ConSultant.
Mr.. Hecht said that the committee,
which comprises leading experts on
foreign exchange and other inter-
national trade activities, would serve
a constructive purpose "in working
along with the officials of the export
import banks, whose plans are to CO.
operate with and supplement the
business Of the commercial banks and
financial institutions of the Nation"
Noted Bankers Appointed.
The members of the committee,
which will hold its first meeting in
Washington on November % and %,
are as follows:
Robert F. Maddox, director First
National Bank, Atlanta. chairman;
Joseph C. Rovensky, vice president
Chase National, vice chairman; Fred
l. Kent, chief consultant; w. Espey
Albig, deputy manager A. B. A, secre-
tary; Charles z. Spencer, vice presi-
! dent First National, Boston; Stephen
E. Ruth, vice president Philadelphia
National; Victor Usher, manager for
eign department, Mellon National
Bank, Pittsburgh; William H. Gideon,
vice president Union Trust Co. of
Maryland, Baltimore: Harry Salinger,
vice president First National, Chicago;
| w. F. Gephart, vice president First
National. st. Louis: J. G. Byam, vice
| president First National Bank & Trust
| Co., Minneapolis; 10 Zach Miller Sd,
vice president Commerce Trust Co.,
Kansas City; A. D. Simpson, vice
president National Bank of Com
merce, Houston, Tex, and j. S. Cur
ran, vice president Anglo California
National Bank, San Francisco.
President Hecht, First Vice Presi-
dent Robert v. Fleming, president
Riggs, National Bank of this city;
Second Vice President Tom K. Smith,
president Boatmen's National Bank,
st. Louis, and Executive Manager F.
N. Shepherd of the association are ex-
ofhcio members of the committee.
I Aims to Export Banks.
The banks, it was stated, were Gre
ated by executive order of the Presi-
dent, under the declared policy of
Congress, Ito remove distractions to
the free flow of interstate and foreign
commerce which tend to diminish the
amount thereof, to provide for the
general welfare by promoting the full
est possible utilization of the present
productive capacity Of industries, to
reduce and relieve employment, to
| improve standards of labor and other
wise to rehabilitate industry and to
conserve national resources"
The first of the banks, the Export
Import Bank Of Washington, was set
up in February as a District of Co.
lumbia banking corporation for the
express purpose of handling export
business with the Soviet Union. The
Second Export Import Bank of WASH
ington, organized in March, is author
! lied to conduct activities relating to
business with all other countries.
Its certificate of incorporation states
that the object and purpose of the
! bank is to laid in financing and to IA
| cilitate exports and imports and the
exchange of commodities between the
| United States and other nations or the
agencies or nationals thereof" In a
statement as to its general policy in
regard to applications for credit or
other assistance, it said: ANY ex-
porter or importer may apply directly
or through any commercial bank.
! Such banks should be prepared to CO.
operate in making required investiga-
tions, and if necessary to urdert0'- 10
collections for the bank. Opportunity
will be given to commerciaI o.
and financial institutions to partici-
pate in special loans.'
Trade Move Lauded Here.
Washington bankers today expressed
keen interest in this new more to boost
foreign trade. Naming of the special
committee SO soon after the A. B. A.
Convention is considered very direct
evidence that the promises of closer
cooperation with the Government
were much more than mere lip service.
That the committee will get down to
business as soon as next week is also
called significant.
The committee member from the
fifth Federal Reserve district, Mr..
Gideon. of Baltimore, is well known in
financial circles hera