Evening star., 1935-03-19
BANKERS SPONSOR
ESSAY CONTEST
Members of A. |. B. Chapter
Will Get Chance to At
tend ConCIave.
BY EDWARD C. STONE.

Bankers ASSc ciation, at Hot Springs,
by entering and winning one of the
first three places in an essay contest.
The parent association announces that
1t will sponsor an essay contest open
to all members of Washington Chap
ter, American Institute of Banking,
below the grade of cashier or treasurer,
who are in good standing on April is
and who are employees of member
banks in the association.
The subjects for consideration are:
friends in Banking" as they effect
(a) management and personnel. (b)
credits and investments, (c) customer
relations, and (d) earnings and ex-
penses.
The papers, not to exceed 5000
words, must be typewriter on one side
of the page, double spaced, and sub
mitted in. triplicate form to Miss
Gwladys M. Keer, assistant secretary
of the bankers association, not lAter
than May 10, 1885. Papers must bear
fictitious names and must be accom-
panied by sealed envelop contain
ing the name and address of the
author, and also the name signed on
the paper These envelopes will be
opened after the awards have been
made.
Frederick P. H. Siddons, president
of the District of Columbia Bankers
Association, said today: Il am very
glad that the bankers association de-
termined to have an essay contest this
year for the members of Washington
Chapter. The subject selected, Trends
In Banking is very broad one, and
should give every member of the chap
ter chance to participate in the
contest"
Due to the many changes which
have taken place in the past few years
in the field of banking, this contest
should prove of interest not only to
entrants but to each individual bank
ing institution.
Bankers Plan Spring Dinner.
The pre-convention dinner of the
District of Columbia Bankers Asso-
citation will be held on Friday evening,
April 26, at the Columbia Country
Club, according to Frederick P. H.
Siddons, president of the association.
A committee, consisting of Charles
H. Doing. first vice president of the
association; Karl w. Corby, second
vice president; Thomas j. Groom, Sec
retary, and Lanier P. McLachlen, pres
ident of the McLachlen Banking Corp,
has been appointed to make arrange
mentS for the event.
AS has been the custom, a golf tour
nament will be held in the afternoon
to compete for the Robert V. Fleming
Cup, which is awarded yearly to the
active officer of member bank with
the low net score. Other prizes will
be awarded.
This dinner is attended by active
officers and directors of the local
banks. A large gathering is expected.
S24,OOO,000 Baby Bonds Sold.
About s24,O0O,0O0 of United States
saving bonds, so-called baby bonds, -
we're sold in the first IA days of their
issue. The actual total was S23,
953, with many cities and post Offices
yet to report. The maturity value
of the bonds purchased was about
S31 100000 There have been more
than $4,000 buyers, and the average
purchase has been S438 to the buyer.
The Treasury has announced that
tenders for two series of Treasury dis
count bills, dated March 20, totaled
Sl7i, ,976,000 of which S100,131 900
were accepted.
Applications for $4,000, 900 of 1872
day bills totaled S1O4, $50, 900, of which
$50, ,125,000 were accepted. Bids
ranged from 99.965, equal to a rate
of about o069 per cent year, to
99.948, or a rate of about 0.103 per
cent. Average price was 99.953, and
the average rate about 0.094 per cent.
Applications for S50,000,000 of 273-
day bills totaled S67 900, of which
$50,006,000 were accepted. Except for
one Of $4,000, accepted bids ranged
from 99.901, equal to rate of about
Obj per cent year, to 99883, equal
to a rate of about 0.154 per cent.
Bankers Cooperation Urged.
Secretary Morgenthau has sent a
telegram to financial institutions
asking the fullest cooperation in con-
nection with the exchange of the
fourth 414 Liberties for the new
offering of 27s per cent Treasury
bonds. The bonds called for re-
demption April IS are designed as
"Third- Called Fourth 414s."
The Richmond Reserve Bank has
sent to every bank in the fifth dis
trict full information on the way the
bonds should be handled The rules
cover both the coupon bonds and
the registered bonds. The Richmond
bank has also mailed complete in
structions on the calling of ell out
standing first Liberty loan bonds.
The Securities and Exchange Com
mission announces the appointment of
Robert G. Page as head of the New
York regional Office of the commits
sion. Mr.. Page is a lawyer and is
best known in Washington as secre-
tary to Supreme Court Justice Bran
deis in 1926 and 1927.
Exchange Quotations Firm.
Capital Traction bonds again sold
ut 81 on the Washington Stock Ex-
change today. Washington Gas Light
IS, series B, came out at 103%, the
remaining trading being in stocks.
Lanston Monotype figured in small
lot sales at so, unchanged, and Mer-
genthaler Linotype recorded four
transfers at 80, also unchanged from
other recent sales. Capital Transit
stock was quoted today at 211a bid
and 2312 asked, with no sales.
Irving Lowengrub, who heads
local investment firm bearing his
name, will be back at his desk at the
end Of the week. He has been con-
fined in a hospital at Aiken, N. c.,
but now is convalescing at his nome
here.
The General American Life Insur-
ance Co., st. Louis, reports that the
Washington Office was one of %
which showed an increase in busi-
ness in February over February a
year ago.
CHTCAG0 pR0nTrE