The Washington times., 1934-05-03

IlcSS Was eO11lS E%$& s$
at his new bank, ~
Mr.. Burt On %@a
said: Dunbar Hare
"It's going fine, and why
shouldn't it? Washington is
riding on the top Of the earth
just now, so far as business is
concerned. The Federal en-
plOyes have part Of their pay
cut back, hotels are packed and
,jammed with visitors, and Pm
told that department stores are
SO crowded it's difficult to find
room in them. 1t certainly
looks like prosperity is here"
To emphasize this statement,
Mr.. Burton pointed out that
since the Franklin National Bank
was reopened a little over a week
ago there had been few with
drawals. most of the approximate
1y $4,000 depositors preferring to
let their money remain in the
institution.
The Franklin, which was closed
after the banking holiday, re-
opened as part of the Washing
ton Mechanics Savings Bank-Mt.
Vernon Savings Bank combine.
Approximately $2,000,000 in frozen
deposits were released.
g., Most of the Withdrawals, Mr..
Burton said, were by persons hold
ing time-deposit certificates.
Frank P. Morse, comanager of
G. D. Barney & Co., has two sports
contract bridge and baseball. He
does not like golf, tennis, football
or horse racing. He said:
"I like to take my sports sit
ting down. I'm like the man
whom the doctor told to sit lot
and take light exercise. He got
In q hammock and hired some
body to swing him gently to and
fro"
"A. Harmer Reside, manager of
WeStheimer & Co., is a busy man
these days. In addition to keep
ing keen eye on the market, he's
practicing grooming so he can
panic the boys when the Ticker
Club holds it's next jamboree. One
Of the chief features of any Ticker
Club affair is Mr.. Resides Groom
ing.
I Carl ]. Bergman, Robert E.
Buckley, c.. Clinton James and
William S. Quinter will attend a
meeting of the southeastern group
Of building and loan association
groups at Spartanburg, S. c., as
delegates from the local organiza.
tion.
S, Edward C. Baltz, who is director
Of District No. of the United |
States Building and Loan League,
also will attend.
Three officials of the Federal |
Home Loan Board, John H.
Fahey, chairman; William F.
Stevenson, member, and Horace
Russell, general counsel, have
been asked to make addresses,
as have a number of persons |
nationally known in the building
and loan field.
Robert E. Christie, jr., presi- |
dent of the Investment Bankers
Association of America, announces
that the board of governors of
that organization will hold its
regular spring meeting May 1928,
inclusive, at White Sulphur
Springs, w. Va. The board of |
governors consists of 80 mem
bers. representing a cross7section
Of the investment banking field |
in the United States and Canada.
While the board of governors |
Is in session the associations 20 |
standing committees will also
meet to discuss provisions of the |
investment bankers code.
Local brokers heaved a sigh of |
relief yesterday when 2 o'clock |
came and the stock ticker ceased |
to tick. They were generally ap-
prehenSive that the bottom was |
going to fall out of an already |
weak market. They hope for bet
ter times today.
n. Z l y y GdClcy, WlUcIy |
known lawyer and banker, is re-
ceiving congratulations from his |
many friends on his assumption Of |
the duties Of president of the Ma
tional Savings and Trust Com |
pany. Mr.. Galley has moved into
the offices occupied by William D.
Hoover during his Is years. ten
lire of the presidential post. Mr..
Hoover, in turn, moved into other |
quarters, where he will function
as chairman of the board.
Mr.. Galley has been connected |
with the trust company for num- |
ber of years as general counsel,
director and member of the execu-
tive committee. Several years ago
he was president of the District
of Columbia Bar Association.