Evening star., 1935-11-14


properly do so in u r,.,,i,
every measure for
national recovery and offered con-
etructive recommendations for such
changes in banking laws as the asso-
citation recognized as necessary. Turn
ing to the banking act of 1885, he
said:
1.-THE banking act of 1885 affords us
opportunities for broader service and,
at the same time, retains the funda-
mentals which We believe are so vital
to our national welfare and which have
played a large part in bringing our
country, in comparatively short space
of time, to the position of the greatest
industrial nation on the earth
Mr.. Fleming proposes to establish
during the coming year regional A. B.
A. conferences, to be held in strategic
sections Of the country and embracing
the managerial, legislative and operat-
ing problems confronted by all types
and classes of banks. these meetings to
be in addition to the already estab-
lished trust and savings conferences.
The new sessions will be designed to
acquaint bankers with the broad prin-
ciples under which they can now op-
crate, the Washington banker said.
Public Relations Stressed.
Public relations will be stressed
more than ever before The new A.
B. A. head wants the public to know
gust what the banks can do and just
what they cannot do. If loans can
not be made under existing bank laws,
the applicants should be shown the
reasons in manner that is under
standable, for it recognized that to
many people the business of banking
Is still somewhat of a mystery. He
expressed confidence in the sound
judgment and common sense of the
American people when the functions
of banking institutions are more fully
understood.
During the next u months the Off
cials of the A. B. A. will continue to
fight for what they think to be for
the economic good Of the country and
will bitterly oppose every legislative
measure they believe detrimental.
They will also make every effort to get
the Government to give up temporary
banking functions as rapidly as pos
sible. While the Government had to
step in during the emergency, these
temporory banking agencies should
not be allowed to become permanent,
In the opinion of Mr. Fleming and his
associates.
Mr.. Fleming's address took less than
five minutes. 1t showed clearly that
he is not going to sit still during the
coming year. In nutshell, he hopes
to take the association closer to the
members, put the banks in better
light before the public with view to
ending what is considered unjust
criticism, work with United States
officials to strengthen all banks and
at the same time vigorously oppose
every proposed action considered de-
structive. "a great opportunity for
service" he told his associates.
ID. c. Bankers on Committees.
Five former presidents of the Dis
trict Bankers Association were in
cluded in the committee appointments
which President Fleming announced
today at the conclusion of the general
business sessions.
George o. Vass, vice president and
cashier of the Riggs National Bank,
was appointed a member of the Fed
eral Legislative Council, State Legs-
1ative Council. and the Committee on
Taxation. He is already representa-
tive from the District Bankers As
sociation on the Executive Council.
Wilmer j. Waller, vice president and
cashier of the Hamilton National
Bank, was appointed to the Commit
tee on Banking Studies and to men,
bership on the Executive Committee
Of the same group.
Francis G. Addison, jr., president of
the Security Savings and Commercial
Bank, was named member OF the
Bankruptcy Committee of the Amer
ican Bankers Association by the new
president.
Joshua Evans, jr vice president of
the Hamilton National, was appointed
a member of the special committee on
section 52l9 of the revised statutes of
the banking act of 1888. This COM
mittee is working on the subject of
State taxation of national bank
stocks.
Frederick P. II. Siddons, secretary
OF the American Security & Trust Co.,
W.
receive committee honors. He was
appointed to the Insurance Commit
tee. a group which considers a very
wide range Of insurance problems.
A glance at the list shows the ap-
pointmentS were made on merit All
have rendered valuable service to the
local association, and have already
done much for the national organiza-
ton. Many bankers serve more than
one year on A. B. A. committees,
which greatly limits the new appoint
ments each year. This makes the
more notable the distinction given to
Capital bankers by the new A. B. A.
chief.
Today's Trading on Exchange.
Riggs National Bank preferred stock
sold at 106 today on the Washington
Stock Exchange in 8 small-lot trans
action. This was up full point from
the last previous sale.
Washington Gas IS, series B, opened
with $1,000 sale at 1922, off Il
from the last sale. Two baby Gas
bonds then sold at 100, completing the
days trading.
Potomac Electric Power preferred
stocks and both Washington Railway
& Electric issues are now being quoted
ex-dividend. The regular dividends
are to be paid in few days. In the
case of Washington Railway g. Elec-
trio common, in addition to the So
payment due at this time, an extra
payment of $6 per share has also been
voted.
The bid for Railway & Electric
common today stood at $640 a share,
ex-dividend, against $3.50 yesterday.
Ryyt- tN N710 a