Evening star., 1934-01-04

preside.
Eugene R. Black, governor of the
Federal Reserve Board, will be the
speaker at the thirty-third annual BAN
quet of the New York Chapter OF the
American Institute of Banking, TO be
held at the Waldorf f-Astoria on Feb
ruary 3. Albert S. Puelicher. president
of the institute. and vice president of
Marshall and IlSley Bank, Wilkaukee,
will be the guest of honor. This dinner
Is always attended by many of the more
active and enthusiastic members of
Washington Chapter, several already
having made plans to be present again
this year. Local members are already
making elaborate plans for their own
annual dinner in February.
Bank Meetings Tuesday.
Annual meetings of the stockholders
of all national banks in Washington
and several other banks will take place
next Tuesday, January 9. Officials are
now arranging the drectorateS for the
coming year.
New York banks are expecting good
many changes on their boards because
of the new Glass-Steagall banking law,
which prevents members of stock and
bond houses. which put out investment
issues, from serving as directors on
bank boards. This will mean that
members of q good many Stock Ex-
change firms in New York will retire
rs bank directors. There may be some
changes here for the same reason.
Vacancies on Washington bank
boards because Of deaths during the
year will also be filled, but there are
not many such vacancies. Some of the
local financial institutions will elect
To- n
organize later. So far as has been an
nounced. few official changes are anti
cipated.
Starkey Forecasts Easier Going.
George L. Starkey, president of the
National Bank of Washington. predicts
easier going for all during 1884. He
calls attention to the satisfactory holi-
day trade and says the opening of Con-
gress has brought enough more people
TO Washington to keep buying power
at favorable rate during the post
holiday season Present momentum will
carry well into the Spring. Mr.. Starkey
added:
The best auglry for 1884 is to be
found In the steadily improving morale
of the people of the District. Notwith-
standing the severe punishment of the
last year, the spirit of the average resi-
dent Is stronger today than at any time
since 1880. Washington should be able
to look back on the black years of the
depression with pride.
While the business interests of many
other cities were clamoring for Federal
aid OF one sort or another, the local
merchants and business men went
about their knitting with confidence
and comparatively few of them met de-
feat There is plenty of unfinished busi-
ness to keep every one from mischief
better times will have rolled around"
d. c. Banks Report Deposits.
The American Security & Trust Co.
was the first local bank to report de-
poSits as of December 80. At the end
of the 1888 calendar year the trust COM
pany's deposits totaled $33,297, ,4O4.21.
Without waiting for the bank call,
Riggs National has also reported
deposits at the end of the year, the
total being S71,3O1, ,325.43. The con-
troller is expected to issue the usual
year-end call very shortly and the other
local banks will announce their total
deposits at that time.
Capital Traction opened trading Oh
the Washington Stock Exchange today.
two small sales being recorded at l41b,
Potomac Electric Power 512 per cent
preferred stock figured in a small sale
at 1852, and another tiny sale took
place In Washington Railway g. Elec-
tr1c preferred, which changed hands at
s314.
Heard in Financial District.
Dun & Bradstreet report that sales
Of wholesalers have shown almost a
1nr7@ Il !,
April, as compared with the corre-
spending period of 1882, with August
reaching the peak of the year. Sales
during December were good, indicating
O gain of as much as 80 per cent over
the record for December, 1882. Many
retailers are building up inventories in
anticipation of 1884 activities looking
for a volume of trade that will approx
mate that of 1880.
Clark, Childs g. Keech have opened
. branch Office in the Copley-Plaza
Hotel, Boston, in charge of Zenas
Crocker, jr.
Thomas P. Morgan, jr, president of
the District Life Underwriters Associa-
ton, said that one of the best lnd1ca-
tons of better times in Washington is
the fact that the local life insurance
Offices have all experienced distinct
cessation of applications for policy
loans which are now back almost to
normal.
Early completion Of an insurance
plan for building and loan associations
similar to that which the Federal
Deposit Insurance Corporation provides
for commercial banks was predicted In
a statement by the Federal Home Loan
Bank Board.