Evening star., 1935-04-27
F|NANC|ERS PUSH
CONVENTION PLANS
Many Noted Guests Among
210 Attending Dinner at
Country Club.
BY EDWARD C. STONE.

convention of the District Bankers
Association at Hot Springs, Va, was
manifested at the annual Spring din
ner at the Columbia Country Club
last night, attended by 2l0 bankers
and guests.
Hilleary G. Hoskinson, one of the
vice presidents of the Riggs National
Bank and this years general conven-
ton chairman, stated that plans for
the Spring conclave have been COM
pleted in detail and the attendance
promises to be considerably larger
than last year when the Washington
f1nanciers sojourned for four days at
White Sulphur Springs. He called
attention 20 innovations which the
Homestead Hotel management has
promised for the sessions which open
on May 80. He believes the seven-
teenth annual meeting will be the
best yet held.
President Frederick P. H. Siddons
presided at the dinner and introduced
about 20 specially invited guests. 1t
was the first opportunity that a good
many local bankers had enjoyed meet
ing Gov. Mariner S. Eccles of the
Federal Reserve Board whose testi-
mony bearing on the proposed bank
ing act Of 1885 has been so widely
discussed
Other guests included James B.
Alley, F.. G. Await, L. E. Birdzell,
Aubrey Carter. l. l. Chorpening, Law
renee Clayton. w. H. Donovan. w. P.
Folger, j. E. Fouts, E. H. Cough,
James NJ. Lands, Gibbs Lyon, John
K. Mckee. w. R. Milford, James A.
Moffett. Chester Morrill,, William M.
Mooney, E. E. Mountjoy, Leo H.
Paulger, Arthur B. Shelton. Commits
sioner Sultan. Walter w. Wyatt and
w. H. Moran, chief of the Secret
Service.
Robert " Fleming, first vice presi-
dent of the American Bankers Asso-
citation, spoke briefly, mentioning some
of the high spots of the executive
council meeting held at Augusta, Ga,
few days ago.
Reserve Board Head Speaks.
In addition to the address by Mr.
Fleming, Senator Pat Harrison of
Mississippi was present and made a
few informal remarks. At similar
dinner four years ago he made brill
liant address and the bankers present
last night were sorry that another
engagement limited his talk.
Gov. EccleS of the Reserve Board
was another informal speaker. He
was very cordially received. Many
references were made by other bankers
during the evening to his ability and
the great efforts he is making as
head of the reserve system to aid
the banks of the country and at the
same time help to advance national
recovery. Mr.. Fleming. in particular.
stressed the vast amount of time
which Mr.. Eccles has given to discus
sion with the Nations banking chiefs
of the main points at issue in the pro-
posed banking act of 1895.
Thomas w. Brahany took charge of
the entertainment features Of the
program, while the Dinner Cummittee
consisted Of Karl W. Corby, Charles
H. Doing, Thomas ]. Groom and
Lanier P. McLachlen. It was a rare
afternoon for golf. the prizes being
awarded in the evening, amid much
applause.
Wilmer J. Walker, vice president
of the Hamilton National Bank and a
former president of the association
awarded the golf honors. The Robert
v. Fleming Cup was won by William
V. Simmons. trust officer of the Lib
erty National Bank
Other golf prizes were captured by
Charles H. Doing, Roger w. White
ford, I. E. Schuman, c. H. Pope. B. E.
Hinton. G. Stanley Holland and I. I.
Chorpening, chief bank examiner in
the Fifth Federal Reserve District.
d. C. Banks Grant 1908 Loans.
To date Washington banks have
made 1908 loans, aggregating $780,
600, in the better housing campaign
in this city, President Siddons of the
District Bankers Association, said in
radio address. The total is really
larger, as the banks have made lot
of loans for this purpose without
reference to title I of the Federal
housing act Records at headquarters
OF the bankers association show that
loans made under title in the past
four weeks were 100 per cent higher
than in the first four weeks in
January.
Mr.. Siddons indicated that the
Washington banks have ample money
to make as many more loans for home
improvements as may be desired and
urged his hearers to go to their own
banks and apply for modernization
funds.
The record as to the manner in
which these renovizing loans are being
paid back to the banks is excellent,
Mr.. Siddons said. There are few, if
any delinquent cases. The monthly
amounts are being paid promptly.
The Housing Administration states
that three out of five of all the houses
in the United States are in poor con-
dition due to lack of attention during
the past five years. If this condition
prevails in Washington, about $4,000
houses here are in need of some type
of repair, Mr.. Siddons said. In con-
cihsion, he urged Washingtonians,
who have not yet taken any action.
to start at once under title or title II
of the housing act to obtain money
and improve their property
Drought Aids Fifth District.
William W. Hoxton. chairman of the
board of the Federal Reserve Bank of
HlCnmOnu, says IN his pFlnCeQ annual
report, just received here:
THE drought, which was so severely
felt in the Central. Western and
Southwestern States, did not adversely
affect fifth district States, but on the
contrary, actually benefited them by
increasing the prices received by their
farmers for 1884 crops"
The document showed total re-
sources of the Federal Reserve Bank
here during 1884 were $357 ,901 1926, an
incerase of nearly $46.000.000 over
1888. This was accounted for in the
main by an increase in the Govern
ment securities held by the bank,
which had S1O3, 1862 500 in 1884 as
against $78,562, 500 the year before.
Cotton consumption" the report
said, declined 16 per cent in the fifth
district in 1884, much of the decrease
resulting from the strike in the textile