Evening star., 1935-08-04

November IL TO
IA. If tradition of the A. B. A. is con-
tinued, which is fully expected, with
out question, Mr. Fleming will be ele-
waited from the post of first vice presi-
dent Of the A. B. A. to be president,
succeeding R. S. Hecht of New Or
leans. Mr.. Hecht became president
of the A. B. A. here last Winter, sue
ceeding Francis Marion Law of Hous-
ton, Tex. The next man in line be-
hind Mr.. Fleming is Tom K. Smith
of st. Louis, Mo. now second vice
president, and well known in Wash
ington.
Bob" Fleming, as he is familiarly
known in his own Washington banking
circles, is acknowledged by his associ-
ates both here and elsewhere to have
achieved the stature of a national fig
ure in the banking, world even before
his elevation to the presidency ofA. B.
A. Active in the affairs of the national
association, he has come to be relied
upon more and more by national off,
GERS, until this year as first vice pres
ident he has had large responsibility
as the representative of organized
bankers of America here at the Ma
tional Capital.
Drafted Clearings Plan.
Always interested in improvements
in banking procedure and laws, Mr..
Fleming here in Washington was the
author of the plan for settling clear
ing house balances adopted by the
District of Columbia Bankers Asso-
citation as the result of his recon-
mendation to the 1919 convention,
when he was assistant cashier of
the Riggs National Bank.
Active in the affairs of the A. B. A.,
Mr.. Fleming served as chairman of the
Committee on Federal Legislation and
the Federal Legislative Council, 1881
to 1884; chairman of the Committee
on Proposed Revision of Banking
Laws, 1933-34; was elected second vice
president in 1888, and first vice presi-
dent here last year. He has been a
member of the Executive Council of
the A. B. A. since 1892.
He held numerous committee chair
inanships and Offices in the District
of Columbia Bankers Association until
he was selected president in 1928, the
fiduciaries, auditors and controllers,
and safe deposit sections having been
established during his administration.
Active in Civic Affairs.
In civic affairs. with which he long
has been prominently identified, MIR.
Fleming was president of the Wash
ington Board Of Trade, 1934-35; is now
treasurer Of the National Symphony
Orchestra Association: vice president
and trustee, Community Chest Of
washington; treasurer and life trustee,
Corcoran Gallery of Art; trustee Ma
tional Training School for Boys; treas
urer and director, Chamber of Com
merce of the United States. His latest
honor is that of election to the board
of directors of the Metropolitan Life
Insurance Co.
Washington bankers are planning to
use several different modes of trans
portation-train, automobile, boat and
airplane-to attend the convention.
The group already has received in
vitations from Harry Wilkinson, edi-
tor of the Chicago Banker, to assemble
in that city, to ride together on the
Fall Tonic" special train to New
Orleans, which Wilkinson plans to
call Fleming Tonic Special"
Bond Tenders DELAYED.
Surprise is being expressed here in
financial circles at the continued delay
In tenders from the Baltimore National
Bank trustee to retire about 1925 900
in Anacostia & Potomac Railroad S
per cent bonds, which are outstanding
in the sum of about $2,451,00 Cash
was received by the trustee July /, on
q note, for sale of property by the
road to the Potomac Electric Power
Co. about five years ago. but repeated
inquiries concerning the expected
tenders have been met with the prom
ises that the matter is under consid-
Grafton and will be decided soon.
In financial circles here it is being
pointed out that the delay is a loss
to the company and stockholders in
the interest paid on bonds, although
the extra interest will go to bond
holders.
These bonds have increased in price
since July when the cash was turned
over to the trustee in exchange for the
note. As of July /, the bid price of
these bonds was 80, asked 90, and last
sale stood at 90b. On comparatively
small sales on the washington Stock
Exchange the bonds have been in
creasing until at the last session Fri
day one bond sold at "a.
With the four other senior officers
of the District of Columbia Bankers
Continued on Fourth Page.)