Evening star., 1935-09-11
HAMILTON ELECTS
! BRANCH OFFICIALS
Creamer and SChooIey Are
Advanced to Assistant
ManagershipS.
BY EDWARD C. STONE.

managers at meeting late yesterday,
Francis j. Creamer to serve in that
capacity at the Seventh street branch
and John H. Schooley at the banks
office at Pennsylvania avenue and
Twentieth street.
Mr.. Creamer has been in the bank
ing business for II years, is a graduate
of Washington Chapter, American In
stitute of Banking. and has made a
special study of credit, real estate and
bank management. He is 33 years old
and has been note teller at the Seventh
street office. He fills vacancy caused
by a resignation.
Mr.. Schooley has been in the bank
ing business 10 years, is a graduate OF
National University Law School and a
member of the District of Columbia
Bar. He also has been note teller
at the branch where he now becomes
assistant manager. His position is 8
newly created one, made necessary be-
cause a very substantial increase in
business at the Pennsylvania avenue
location.
John NJ. De Marco is manager Of
the Seventh street Office and Ernest
Gerstenberg the branch on Pennsyl-
yania avenue. They were placed in
charge of these offices at the time the
banks were made units OF the Hantl-
ton National when the new institution
was started.
Gay Voices Exchanges Views.
Charles r. Gay, president of the
New York Stock Exchange, told the
Financial Advertisers Convention to-
day that the exchanges present task is
to disseminate candid information to
dispel a popular conception of the
stock market as symbolic of the de-
preston. according to dispatches re-
ceived here from Atlantic City.
The exchange president said buSi-
ness generally owed a responsibility to
the public. which. in sense, gave 1t
popular franchise" to operate.
The Stock Exchange specifically, he
declared, was under necessity "of
maintaining at all times scrupulous
distinction between public relations
said, the Exchange differed slightly
from private business. which might
press forward aggreSSively without eX-
posing itself to general criticism.
He added that the stock market was
O target for prejudices and antag-
onisms directed against bankers, big
business" and New York City itself,
apparently natural consequence Of
the wide economic diversihcation of
the country.
The task of the Exchange, he as
serted. included not only the publica-
ton of the facts and statistics with
which it dealt, but breaking them
down to show what they mean"
Seven Bank Rules Revised.
The Federal Reserve Board has
tentatively completed revision of seven
of its regulations under provisions
of the banking act of 1885 and sub
mitted the drafts to the Federal Re-
serve banks for their comment and
approval, prior to final adoption by
the board in Washington. The revised
drafts cover:
Member bank borrowings from Re-
serve banks.
Regulation of savings deposits for
purposes of determining reserve re-
quirements and interest payments.
Reserves of member banks.
Membership in the Reserve System
of State banks under section of
the act.
Loans of executive officers of men,
ber banks.
Holding company affiliates and
granting of voting permits.
Increase or decrease of capital stock
OF Federal Reserve banks.
Groom Busy on A. B. A. Trip.
Thomas J. Groom, vice president
and cashier of the Bank of Commerce
e. Savings, has been asked by Charles
H. Doing, president of the District
Bankers Association, to arrange for
transportation for the party of local
f1nanciers, who are planning to attend
the annual convention of the Amer
dean Bankers Association in New Or
leans in November At this meeting
Robert v. Fleming will be inducted
into Office as president of the A. B. A.
Mr.. Groom has sent out letters to
the various banks here asking how
many are planning to attend the con-
Nention. Quite number of bankers
have already said they will go, most
of them being accompanied by their
wives. 1t looks now as if the delega-
tion would be the largest that has
attended an American Bankers ASso-
citation convention from Washington.
Efforts have been started toward Sc
curing a special car which may be
attached to bankers special carrying
bankers from other cities.
Ghingher Officially Resigns.
Baltimore dispatches today an
nounced the official acceptance of the
resignation of John H. Ghingher as
Maryland banking commissioner, ef-
.dective next Monday. John Hostel
horn, who has been deputy commits
sioner for many years, will act as
commissioner until Ghingher's sue
cessor is chosen, Gov. Nice said.
Commenting on the recent rise in
the stock market, Chairman Jesse H.
Jones of the Reconstruction Finance
Corp declared 1T certainly is def
mite indication that Wall Street thinks
recovery is upon u.s."
Capital Transit Stock Gains.
Capital Transit stock advanced to
1734 on the Washington Stock Ex-
change today. 1t closed with 171a bid
and IT'S asked.
Washington Loan & Trust Co.
recorded a sale at 200 at the opening
of the market today. Later five shares
moved to 1913 and five more back
at 200.
In the bond division. 81, 500 George
town Gas Light SIS changed ownership
at 1121a.
Heard in Financial District.
Harry P. White, assistant treasurer
of the American Security g. Trust Co.
and manager of the Northeast Branch,
is spending his vacation at Atlantic
City, N. J.