Evening star., 1935-10-25

HteQ STOCK EH-
changes. the big issue under discus
sion will be the problem of broker
dealer segregation. This matter has
been under study for several months
and a report is to be made at the
next session of Congress.
Should Congress vote for a Separa-
ton of brokers and dealers in secur-
tiles, it would be death blow to
some of the smaller exchanges on
account of the limited amount of
business done by the members. They
have to suppiment their exchange
business with the dealer activities.
The Chicago 'roundtable" confer
ence will bring together the largest
number of stock exchange executives
ever assembled under one roof in the
history of the American Securities
markets. James M Johnston will rep
resent the Washington Exchange.
President Charles R. Gay of the New
York Exchange will attend. the list
including the heads of all the other
important exchanges in the country.
With Chairman Lands from the
Securities Exchange Commission will
be Robert E. Healy, DR.. Kemper Simp-
son, Willis J. Ballinger, Thomas H.
Gammack, David Saperstein and A.
w. May.
Acacia Elections Announced.
Two important elections by the di-
rectors of the Acacia Mutual Life In
surance Co. were announced today by
William Montgomery, president of the
company.
Frank J. Stryker, president Of the
Columbia National Bank. was named
to the Board of Directors, and How
ard w. Kacy, Acacia general coun-
sci, was elected vice president OF the
company Mr.. Kacy will continue his
duties as general counsel in addition
to assuming those Of the Office Of vice
president.
A native Washingtonian, Mr.. Stry-
ker's association with banking in the
District dates back to 1905. In 1922
he Joined the Columbia National Bank
as vice president and cashier, and in
1924 he was elected president of that
institution. He is a member OF the
Washington Board of Trade, Executive
Committee of the Clearing House
Association, member of the Board of
Trustees and Finance Committee of
Sibley Memorial Hospital, member of
the board of the Young Women's
Christian Association, chairman of
the Auditing Committee of the Ma
tional Geographic Society, a member
of the Masonic fraternity and the
Columbia Country Club
Mr.. Kacy, a graduate of Indiana
University, came to Acacia from
Huntington. Ind, in 1928 as assistant
counsel, later being named general
company.
New Insurance Era Forecast.
J. E. McCombs, president of the
District Underwriters Association, told
200 members of the organization at
the first Fall luncheon at the Willard
yesterday that insurance men do not
fear the new social insurance. They
consider it challenge, he said, to
the insurance world, challenge to
write more insurance to cover the
individual needs of all classes of
people.
Roger B. Hull, general counsel of
the national organization, took much
the same view. He praised the idea
of Government help for those who
are in need. At the same time, he
said, every loyal American prefers
to stand on his own feet. A new day
has grown out of the depression.
Thrift, combined with an orderly,
conservative spending program, is still
the measure of good citizenship. The |
trouble with too many people today is
that they spend first and save what's |
left, instead of saving first, to spend |
later
With few exceptions, every person |
earning a fair wage can, if he will,
provide for retirement with an an
nuity sufficient for his needs when |
his usefulness to his employer comes |
to an end. The average man can, |
through life insurance, do everything |
that he wants to do, for himself and |
his family, Mr.. Hull said.
The guest speaker was introduced |
by David S. Bethune. Winthrop G.
Batchelder, chairman of the Men, |
bership Committee, outlined Wgor-
Gus campaign which will be carried |
on for new members during the COM
ing Winter. Eleven have just joined
Barber & Ross Plan Urged.
The Bondholders' Protective Com
mittee for Barber & Ross l0-year 6l2
per cent bonds filed a petition in the
District Supreme Court today to inter-
vene in favor Of the plan Of reorgan-
ization as presented to the court on
October IS by the Barber & Ross
trustees. The Bondholders' Commit
tee is strongly in favor of this plan
and is anxious for its approval by the
court. The committee is made up of
Henry P. Blair. chairman: Christopher
B. Garnett, Eugene E. Thompson and
Roger w. Whiteford.
Banker Granted Court Honor.
John F. Hillyard. vice chairman of
the safe deposit section of the District
Bankers Association, who has been
connected with the National Bank of
Washington for over IS years, has
Just been admitted to practice before
the Supreme Court of the United
States. Mr.. Hillyard is graduate of
Columbus University and has also
completed the regular courses Of the
American Institute of Banking and
special courses on credits and trust
functions. He was twice winner of
the essay contest conducted by the
District of Columbia Bankers Asso-
citation and attended conventions at |
White Sulphur Springs and Montauk |
Point.
Mergenthaler Linotype at 80.
Mergenthaler Linotype sold at 80
on the Washington Stock Exchange
today, jump from Is during this
year. 1t closed with SO bid and
3912 asked. The sale followed one
in Boston yesterday at 39h. The
rise from around 27 has taken ulace