Evening star., 1934-10-24

preSlo NJ OF the r. Iord
A. B. A; Rudolf
S. Hecht, first vice president; Robert
v. Fleming, second vice president, and
Tom K. Smith, the new second vice
president-elect. The gathering was
also made notable by the attendance
of about 10 former presidents of the
American Bankers Association.
Present and past officers of the Dis
trict Bankers Association also were
present in large numbers. 1t was one
of the outstanding social events of
the convention.
1t is interesting to note that past
presidents Of the A. B A. now in the
city include E. F. Swinney, who served
the association 80 years ago. Besides
Mr.. Swinney. the past presidents at
the convention include:
Lewis E. Pierson. chairman of board
irving Trust Co., New York City, who
served as president of the association
IN 1909 F. o. Watts, chairman of
board, First National Bank, St. Louis,
president in 1910: Arthur Reynolds,
vice chairman Of board, Bank of
America N. T. g. S. A, San Fran
cisco, 1918; William A. Law, president,
Penn Mutual Life Insurance Co.,
Philadelphia, 1914; Richard S. Hawes,
vice president, First National Bank,
St Louis, 1919; Thomas B. McAdams,
president, Union Trust Co., Baltimore,
1921; Walter W. Head president, Cen
eral American Life Insurance Co., st.
Louis 1928
Oscar Wells, chairman of board,
First National Bank, Birmingham,
Ala, 1925; Thomas R. Preston, preSi-
dent, Hamilton National Bank, Chat
tanooga, 1927; John G. Lonsdale,
chairman of board, Mercantile Com
merce Bank & Trust Co., ST. Louis,
1929, and Harry j. Haas vice presi-
dent, First National Bank, Philadel-
phIa, 1881.
Lord Is Western Banker.
c. ]. Lord. elected president OF
the National Bank Division, is vice
president of the National Bank of
Commerce of Seattle, Olympia, Wash.
In 1890 he organized and became
president Of the Capital National
Bank of Olympia, continuing in that
capacity until 1888, when the bank
liquiGated 100 per cent. He then
entered his present position. He is
also a director in several manufac-
turing concerns. He was mayor of
Olympia two terms, 1923, member
of the State Council of Defense, 1917
10. Red Cross and Liberty Loan
chairman in 1917. and president of
the Chamber of Commerce
In the activities of the American
Bankers Association Mr.. Lord has
been a member of the Executive
Council, the Bank Management Com
mission and the Agricultural Commits
sion. and member of the Executive
Committee of the National Bank Di-
vision. He has been vice president
Of the division during the past year.
In 1903 he was president of the
Washington State Bankers Associa-
ton.
As Law Views Convention.
In a special interview crowded into
the convention late yesterday after
noon, President Law said that there
is more cohesion among the far-f1ung
membership of the A. B. A. than ne
has seen at any time in the 81 con-
Ventions he has attended. He added:
The main objective for which We
can all stand is that We are whole
heartedly for any recovery program
that doesn't violate sound banking
principles or jeopardize the interests
OF our depositors.
I do not believe the banks have
reached the saturation point on Gov
ernment securities. Banks which have
80 per cent of their depositors' money
invested in Government bonds should
invest no more. Some banks have only
30 or 40 per cent
L feel encouraged to say that there
has been modest expansion of credit
IN the past 13 or IA weeks"
Mr.. Law said he was particularly
interested in recovery in foreign trade
as one of the major factors in return
Ing prosperity. He touched on many
other subjects and answered questions
for an hour as rapidly as the news
paper men could ask them. 1t was q
AAASSS AAAN(A oSoSlOLI
Phone Executive Honored.
John A. Remon, general manager
OF the Chesapeake & Potomac TeIe-
phone Co.. has just been made a
member of the Executive Committee
of the Telephone Pioneers of America
This organization, which is composed
of telephone men and women through
out the United States who have COM
pleted 21 or more years OF service,
has just concluded its annual conven-
tlon, which was held this year in New
York City on October l9 and 20.
For the last two years Mr. Remon
has served as president of the Alex
composed Of telephone pioneers of the
Chesapeake & Potomac Telephone Co.
Today's Trading on Exchange.
Anacostia & Potomac R. R. IS
opened trading on the Washington
Stock Exchange today, $1,000 selling
at 1914. Capital Traction SIS were the
only other bonds moving. $1,000 COM
ing out at 81.
Mergenthaler Linotype stock saw a
turnover of 100 shares in three sales
today. again priced at %. The stock
closed with 2l3. bid and 22i2 asked
Capital Transit stock came out at
27l2 and closed at 271. on 50-share
turnover. The days final stock sale
was in Washington Railway & Elec-
trio preferred which sold at 1904.
The financial district was shocked
by the death Of Maurice Otterback,
chairman of the board Of the Ana
costa Bank. who had been an active
figure in the banking district for
nearly so years. He was present at
the A. B. A. convention only the day
before he was fatally injured by an
automobile He will be greatly missed
and long remembered.