Evening star., 1934-01-28
George O. Vass Names Nc
Kee Chairman of General
Convention Group.
GUARANTY is DISCUSSED
AT SAVINGS CONFERENCE
Federal Deposit Insurance Eclipses
Other Topics-Talks Reveal
Conflicting Opinions.
BY GEORGE c. STONE.

BY GEORGE c. STONE.
George o. Vass, president of the Dis
tr1ct OF Columbia Bankers Association
has announced the appointment of the
General Convention Committee and the
Executive Committee, comprised of
members Of the local association, which
will have charge of arrangements for
the reception and entertainment Of the
large delegation of bankers which is
expected to attend the 1884 annual con-
vention Of the American Bankers As
eociation to be held in this city October
1926.
H. H. Mckee, president OF the Ma
tonal Capital Bank, has been appoint
cd chairman Of the General Conven-
ton Committee, and Sidney F. Talia-
9e1ro, vice president of Riggs Ma
tional Bank, is vice chairman The
other members of the committee,
named yesterday, are:
Corcoran Thorn, president American
Security & Trust Co.: J. F.. Campbell,
president Anacostia Bank; M. D.
Rosenberg, president Bank of Com
merce & Savings; Frank j. Stryker,
president Columbia National Bank: J.
G. Yost, president East Washington
Savings Bank; w. w. Spaid, w. B.
Hibbs & Co.; Rolfe E. Boiling, president
Liberty National Bank; F. E. Davis,
president Lincoln National Bank: L. P.
McLachlen, president McLachlen Bank
ing Corporation; Bertram Chesterman.
president Morris Plan Bank; c. H. Pope,
vice president Munsey Trust Co.:
George L. Starkey, president National
Bank OF Washington; George w. White,
president National Metropolitan Bank;
w. D. Hoover, president National Saw
ings g. Trust Co.; Robert v. Fleming,
president Riggs National Bank: Victor
B. Deyber, president Second National
Bank; Francis G. Addison, jr., presi-
dent Security Savings & Commercial;
Ord Preston, president Union Trust Co.:
H. G. Meem, president Washington
Loan & Trust Co.; Ezra Gould, presi-
dent Washington Mechanics Savings
Bank, and E. c. Graham, president
Hamilton National Bank.
Executive Committee Members.
President vass appointed the follow
ing bankers to the Executive Commit
tee: H. H. Mckee, Robert V. Fleming
Victor B. Deyber, Howard Moran, vice
president American Security & Trust
Co.; Francis G. Addison, jr.; G. F.
jacobsen, cashier National Metropoh-
tan Bank; E. c. Graham, c. H. Pope,
C. F. Burton, vice president Washing
ton Mechanics Savings Bank: A. s.
Galley, vice president Lincoln National
Bank, and w. w. Spaid.
These committees will cooperate
with the committees Of the American
Bankers Association In providing
plans which it is expected will result
In one Of the most interesting conVen-
tions the American Bankers Associa-
ton has held for many years. The
association has not held convention
in Washington since 1920, and local
bankers are looking forward to the
event with keen interest.
It is understood two other commit
tees will be appointed shortly, the Ho-
tel Committee and the Registration
Committee, both of which will have
important details to look after in con-
nection with such large convention.
In normal times these sessions are
attended by from 5000 to 1000 bankers
from all parts of the United States.
Appointment Of the above committees
Is the first important step taken since
the invitation to washington was ac-
cepted at Chicago last Fall
Deposit Insurance Chief Topic.
The Federal Deposit Insurance Cor
poration and the insurance of all bank
accounts up to $2,500 drew the most
attention at the Eastern Savings Con-
ference Just held in New York. Some
speakers were strongly in favor OF the
plan which has fired bank depoSltors
with a new feeling of confidence.
Others bitterly opposed the whole
idea. William B. Chapman, New YORK,
urged a limit to charges that might be
assessed members of the insurance cor
poration Carl M. Spencer. president
OF the Savings Bank Association OF
Massachusetts,, said that more than 80
per cent of the savings banks in his
State believe that deposit insurance will
be helpful to them in the conduct OF
their business. since it will be regarded
as an advantage by a substantial part
of their depositors. He also pointed out
weaknesses in the plan.
Thomas P. Cheney, president Of the
New Hampshire Savings Bank Associa-
tion and vice president OF the Laconia
Savings Bank, said that the New Hamp-
shire plan for protecting savings was
adopted because bankers in that State
did not believe the best interests of de-
positors would be served through the
F.. D. L. C. in its present form and also
because of legal complications. The
New Hampshire plan is voluntary as
sociation. to which every mutual saw
ings bank operating under State char
ter belongs, he explained.
o. Howard Wolfe of Philadelphia at
tackled deposit insurance the most bit
terly. I'VE are attempting to insure
the repayment OF bank loans" he said.
"in other words, to effect the impos-
sible task of guaranteeing the assets
of an insured bank to be sufficient to
y,oaot ifo liabilities -
Brokerage Offices Here United.
Goodbody g. Co. closed their Wash
mgton Office In the Washington Build
ing yesterday afternoon and transferred
their accounts to the Office of Hemp
hill, Noyes & Co., in the Shoreham
Building The consolidation goes into
effect tomorrow.
Hemphill, Noyes g. Co. has opened
new board room, installed a large
quotation board, and expanded the
Offices in other ways. Both these
houses are New York Stock Exchange
drn1s Of long standing.
Four Of the men who have been with
Goodbody g. Co. will join the staff of
Hemphili, Noyes & Co. tomorrow. They
are C. Shelton Buchanan, Alexander
McCook Dunlop, Peirce Marston and
Joseph c. Sheehy.
The Hemphill, Noyes office here is in
charge of Chester A. LOCKWOOD and
Thomas j. Mangan, jr., as co-managers.
Columbia Pictures Corporation has
declared the regular quarterly dividend
of IS cents on the preferred stock.
payable March l to stock OF record
February Is.
Richmond reports that bank clear.
ings last week were IS per cent ahead
OF the same week q year ago, while
Atlanta reports a gain of 43 per cent.