Evening star., 1934-03-28

time and in the 80 ~
same city tha- E-As&s&- --4-4--a4A-S
the A nj e ic n Arthur J. Linn
Bankers Association meets for their
annual conclave.
Arthur J. Linn, controller of the
Hamilton National Bank. has been
appointed by the National AssoCia-
tion as general convention chairman
and is working on plans for a sue
cessful and well attended meeting
The executive council of tile audi
tors section of the District Bankers
Association is made up of Albert E.
Yeatman. Columbia National Bank,
chairman: R Earle HayCOck. Riggs
National. vice chairman: j. D. Bar
rett. American Security e. Trust Co,
secretary; A. j. Bitterly, Munsey Trust
Co, and w. NJ. Harris. Lincoln Ma
tlOnal.
Richmond Banks Net OFF.
According to a report Just made
by the Treasury, net earnings of the
IL Federal Reserve banks for the CAL
ende. year 1888 amounted to S7957-
4O7. compared with s22.314 900 for the
1882 year.
OF the II banks 7 showed surpluses
and 5 reported deficits. The greatest
earnings were made by the New York
bank. with A profit Of S6.197,727, fol-
lowed by the banks at Chicago with
a profit of s1.790,4 ,493; Cleveland,
s731,683: San Francisco. S429.104: At
lanta, s15497l; Minneapolis, S820S5,
and Boston. S25.6l7.
Losses were shown by Dallas.
s44S047; Richmond. s328,740: Kansas
City. s268.275. Philadelphia, s3l8445.
and St. Louis, S90,766
Dividends paid by the ID banks dur
ing the 1888 year amounted to So
674.262. against S9282 900 during 1882
Branch Office 10 Years Old.
The Washington Loan 6; Trust Co S
West End Branch. at Seventeenth and
G streets. is 10 years old this week.
The bank opened facilities in that
part of the city i'll 1917, but the
present bank building was not erected
until 1924. Charles H. Doing. vice
president. is in charge of the branch
Office, being assisted by James NJ
Mason and George o. Schweinhaut
both assistant treasurers. Mr.. Doing
is also second vice president of the
District Bankers Association. The
president of the trust company is
Harry C. Meem.
Chairman Jones of the Iteconstruc-
ton Finance Corporation, states that
on April Is the special committees set
up last October by the Deposit
Liquidation Board to appralse coilat-
eral in closed banks will be con-
solidated with the regular agencies of
the r. F. c.
The Deposit Liquidation Board was
appointed by the President to speed
up loans for the purpose of paying
depositors in closed banks and the
greater part of the work has been
accomplished Chairman Jones said
The corporation has authorized 2.257
closed bank aggregdting S702.670,000
Stage Set for Advances.
The stage is actually set for the
Nation to advance by giant strides
says the financial magazine Sphere
The monetary bases are imbedded in
concrete and are ample to sustain
almost any economic structure. The
lmponderable factors. which men OF
experience feel rather than weigh.
work for a recovery because, thoug h
they are imponderables and not easily
defined. their existence is as certain
as that Of electricity.
The tide. in other words. is in the
direction of recovery, and probably
there is nothing that can hold it back
whether political ferocity or economic
stupidity or social fear.
AS to prices, the future writes itself
as rainbow across the sky. With
costs of production arbitrarily raised
not only in the industrial. but in the
agricultural field. as we'll as with the
Superabundance Of money and gold
about to overflow the reservoir, there
can be but one direction in which
prices can go. and that is upward.
The security and real estate and
commodity markets next Fall will be
to the present markets as the Rockies
are to the Alleghanies, the magazine
asserts.
r.r.;IoI f;n,, Tc A,tiro