Evening star., 1934-10-25

cial made many Tom smith
fri n dS among
Washington bankers, but far more
than that, made host of very valu-
able Government contacts. The i'm
portance of extra close banking and
Government relations at this time
will make the ST. Louis bankers serv-
ices to the A. B. A. of most unusual
value, in the opinion of flnancierS all
over the country.
Tom K. Smith is president of the
Boatmen's National Bank in st. Louis
and was born in Glenwood, Mo, in
1882. In his college days he was
brilliant student, receiving his A. B.
from the University of Missouri in
1904. Following graduation he be-
came bond buyer and salesman with
Little & Hays of ST. Louis, after which
he became secretary and treasurer OF
William r. Compton, security dealers
of St Louis Later he was vice preSl-
dent of Kaufman, Smith e. Co., and
since 1929 he has held his present po-
sition. In November, 1888, he became
adviser to the Secretary of the Treas
1Irv of the United States, on banks
ana DdIklllB IIldIlclo' SCI 'IAA6 AAA 'AASN"
capacity until May 18, 1884.
Mr.. Smith is a director of the
Curtis Manufacturing Co., president
st. Louis Clearing House Association
and member St. Louis loan agency
of the Reconstruction Finance Corp.
He has been chairman OF the well
fare Plan Committee of st. Louis and
the Citizens Committee on Relief
and Employment. In 1882 he received
the st. Louis award as the outStand-
ing citizen. He was appointed MEM
ber of the Advisory Committee OF the
Presidents organization for unem-
ployment relief. and of the Missouri
Committee on Unemployment Relief,
trustee of the community fund and
vice president of the st. Louis Chill
dren's Aid Society. During the World
War he served as secretary and vice
chairman of the eighth district of the
Liberty Loan organization.
Mr.. Smith is married and has four
children. He is a member OF the
Phi Beta Kappa, Phi Gamma Delta
and Beta Gamma Sigma Fraternities,
and belongs to the University, Noon
day, Industrial, Log Cabin, st. Louis
Country and Cuivre Clubs. He is a
Democrat and belongs to the Presby-
terian Church.
Presidents Address Lauded.
! President RooSeveltS address at
Constitution Hall last night was al
most the sole topic of conversation
among the 1000 bankers at the
A. B. A. conclave early today. Some
praised it very highly as covering
many of the most important prob
lens now facing the financial life of
the country. Others were luke warm
and others thought that he might
have said more than he did.
He got a great ovation on entering
the hall and the high points in his
address were vigorously applauded.
When he said that the public should
have confidence. in the banks, but
more than that. declared that the
time had come for the banks to have
confidence in the public, his remarks
brought forth vigorous applause.
His address is published in full else
where in today's Star. 1t will be
read by every banker in the United
States. 1t was the high spot of the
most important convention the A. B.
A has ever held The address by
President Reynolds of the First Ma
tional Bank of New York City led
up to it in a way that showed that
the banking fraternity is anxious to
wipe out antagonisms between the
financial community and the Gov
eminent.
During The next few days the
financial press will be flooded with
comments. The President urged a
freer loan policy on the part of the
banks and stated that many of the
temporary loaning agencies of the
Government will be abandoned when
national conditions warrant such
action
1t will be night the bankers will
perfect in length, and those who
were lucky enough to get into the
hall enjoyed every moment. Presi-
dent Law, in public statement to-
day. said that the banks have full
confidence in the people. THE
bankers liked the clear statement of
the President" said Mr.. Law, that
labor of mind and hand were en-
titled to fair profits for this labor"
Rapid Transit Net Improves.
The washington Rapid Transit Co
reported to the Public Utilities Com
mission today that net income for
September totaled 81 ,381.8 against a
deficit in the same month last year OF
S5,695.26. This means an improvement
of $7077l4 during the month.
The operating income for the first
nine months of this year was reported
as S24, ,401 %, against an operating loss
of $2l,51996 in the same period last
year, which means an improvement OF
over S45000 SO far in 1884.
The bus line carried 1884, revenue
passengers in September, making a
total of 2,998.189 in the first nine
months Of this year.
Busy Day on Exchange.
Business was good on the Washing
ton Stock Exchange today, the first
sales being in Potomac Electric Power
consolidated SIS, $1,000 moving at
1852 and three more 81 900 sales be-
ing recorded at SIS. Georgetown
Gas SIS sold at 1861.
Washington Gas IS, 1860, came out
at 1082s on a $1,000 sale and $500
Capital Traction IS changed hands
at 91A.
Railway & Electric preferred stock
sold at 100as today, Capital Transit
came out at 2714 and Is shares ol
Mergenthaler Linotype appeared or
the list at %
Norfolk g. Western Railway has de-
clared the regular quarterly dividend
of So on the common stock, payable
December l9 to stock of record No.
Vember 80.
Emerson Bromo Seltzer, Inc, has
declared quarterly dividend of 4(
cents each on the class A and class
common stocks, both payable Novem-
ber l to stock of record october 25
placing the issues on S1.60 annua
haSIS oOainst 60 nrnvinuc1y The A