Evening star., 1934-04-11

son, Jr., president
of the Security Savings & Commercial
Bank; Robert v. Fleming, president
Riggs National; Howard Moran, vice
president American Security & Trust
Co., and M. D. Rosenberg, president
Bank of Commerce & Savings.
The program will cover such topics
as current legislation and its effect
upon banking practices, interest prob
lens, constructive customer relations,
accounting and analysis of accounts,
safe deposit methods and savings de-
partment details, Chairman Waller
said.
1t Is especially interesting to note
that each member of the Program
Committee is a former president of
the association, so has had extra
valuable experience in arranging for
speakers and discussions.
Bankers Keeping Hands Off,"
In addition to the list of bills in
Congress favored by the American
Bankers Association, and the list op-
posed. which have already been pub
hshed, the A. B. A., through its Com
mittee on Federal Legislation, of which
Robert v. Fleming is chairman, de-
cided to remain neutral on the fol-
lowing measures:
Requiring State member banks of
the Federal Reserve System to publish
condition reports; relating to protec-
tion of trust funds awaiting invest
ment in national banks; guarantee
ing Home Owners Loan Corporation
bonds: authorizing direct loans by
Federal Reserve banks; numerous bills
repeating the check tax; relating to
preference for collection items in ma
tional banks: permitting Reconstruct
ton Finance Corporation participation
in loans through banks; authorizing
Reconstruction Finance Corporation
to establish industrial credit corpora
tions; authorizing circulation against
Home Owners Loan Corporation
bonds; permitting capitalization of
national banks at $25, 900 in places up
to 5000 inhabitants; relating to
branches of national banks.
Also a number of Senate and House
bills relating to specific details of the
Federal deposit insurance plan; re-
lating to insured bankruptcy funds;
a number of bills referring to payment
to depositors of closed banks; relating
to State taxation of national banks;
relating to escheat of dormant ac-
counts in national banks to United
States Treasury, and bill relating to
Federal Reserve loans, real estate
loans, bad debts and double liability.
New Bank Director Elected.
F. 4. Pope, president of the Fed
eral Services Finance Corporation.
was elected a director in the WASH
ington Mechanics Savings Bank, at
the annual meeting held in Alexan-
dria yesterday.
The stockholders authorized an in
to S250,000. All officers were re-
elected. They include Clarence F.
Burton, president; A. Scott Offutt,
Frank w. Lee and F. p Williams,
vice presidents; M. H. Buckingham,
cashier and secretary; Joseph M. Nc
Carthy, William B. Mehler, jr.; Ber-
nard M. Grant, T. Eugene Elgin and
T. Howard Norris, assistant cashiers.
The directorate, in addition to the
new members, is composed of Walter
K. Bachrach, NJ H. Buckingham, C.
F. Burton, Gustave Bugniazet, Fred
Hewitt, F. W. Lee, A. S. Offutt, Ed
ward F. Pickford, j. B. Pruitt, j. c.
Pyles, Arthur o. Wharton and F. P.
Williams The bank will change its
name to the City Bank of Washing
ton in the near future and also take
over the Franklin National Bank as
a branch.
Keene Made Bank Receiver.
Carter B. Keene, who has been act
ing for several weeks as receiver for
the nited States Savings Bank, has
been named receiver for the Wood
ridge-Langdon Savings & Commercial,
the additional duties being assigned
by Controller of the Currency j. F.
r. O'Connor The bank is being oper-
ated as unit of the Hamilton Ma
tional Bank but assets which became
frozen m the original bank have been
taken in charge by the receiver.
When the NEUTRALITY-SUSPICIOUS. be-
came a part of the Hamilton National,
it paid depositors so cents on the
dollar. Mr.. Norris, who now is man.
ager of this branch of the Hamilton
National, has been acting as conserva-
tor of the Woodridge-Langdon insti-
tuition. From now on he will devote
all his time to the duties of a branch
manager.
Business Up 800 Per Cent.
Thomas P. Morgan, jr., manager of
the Washington Office of the Mutual
Life TY1c nf Varly
ported today that new paid-for busi-
ness for March, 1884, showed an in
crease of 300 per cent over March,
1888, also an increase of 100 per cent
in the number of producing agents
participating in this accomplishment.
To date, Mr.. Morgan says, April busi-
ness shows like increase.
While the record is a brilliant one,
It also should be recalled that during
part of March, 1888, all the banks
were closed and business was practi-
cally at standStill.
Exchange Trading Lively.
Business was much better today on
the Washington Stock Exchange in
both bonds and stocks. Washington
Gas IS, Series B, opened the session
with $lOO selling at 1929. Washing
ton Railway & Electric As recorded
two $1,000 sales at 9314. Anacostia &
Potomac r. r. IS opened with $1,000
moving at 66 and closed with another
1000 going at 66l4.
The first stock sale was in Wash
ington Railway g. Electric preferred
small lot moving at 9512. Potomac
Electric Power 51a per cent preferred
appeared on the board at ITO.
Capital Traction woke up today
after sleeping for several sessions, 81,
consecutive sales involving 100 share:
taking place at 25. The largest sale
was block of go shares. The stocl
closed with 241a bid and 26 asked.
Virginian Railway has declared tn
regular quarterly dividend Of $3.50 OF
the preferred stock, payable May II
stock of record April IA.
The recovery administration an
nounces public hearings will be helG
April % on codes submitted by thu
Bell system and the independent com