Evening star., 1935-05-20
BIC ATTENDANCE
DUE AT SESSION
More Than 200 Will Go to
D. c. Bank ConcIaVe at
Hot Springs.
BY EDWARD C. STONE.

annual convention of the District
Bankers Association, at Hot Springs
General Chairman Hilleary G. Hos
kinson announced today. This is a
substantial increase in attendance over
last year, a very encouraging sign of
returning prosperity and interest in
banking.
Chairman Hoskinson added that this
is the eighth convention to be held at
the Homestead which bespeaks the
popularity of the Virginia resort. At
the same time he called attention to-
day to the fact that the convention
opens on Thursday of next week so
that the final reservations must be
made at once in order to secure the
best possible accommodations.
The last call" for the convention
was received by bankers and others
in the morning mail today. In this
communication President Siddons
urges a large attendance of bank di-
rectors and officers. In view of the
continued changes in banking practice
and laws, he says the practical queS-
tionS of bank management ana opera
ton will make the coming business
sessions of unusual value.
Lanier P. McLachlen. chairman of
the Program Committee, said today
that the program will be divided into
three subjects of paramount import
ance, namely investments, bank man.
agement and public relations. In ad-
dition there will be reports from COM
mittee and section chairmen which
will furnish the basis for many IN
structive discussions.
William v. Simmons. chairman,
Hotel Committee; Robert H. Lacey.
head of the Transportation Commit
tee: Barnum L. Cotton, Entertain
ment Committee, and A. Scott
Ofutt. of the Sports Committee, state
that everything is in readiness for an
outstanding annual gathering.
Insurance Scars IS Per Cent.
The District of Columbia led every
one of the 48 States in the amount of
new life insurance written in April,
over April year ago, scoring an in
crease of 35 per cent, the Life In
surance Sales Research Bureau of
Hartford. Conn. reported this noon.
Next to the top of the list came West
Virginia with % per cent gain.
Virginia boosted business 10 per
cent in April, against an average de-
crease for the whole United States
of 7 per cent. North Carolina wrote
the same amount as last year, while
new business in South Carolina was
off IA per cent, and in Maryland, II
per cent.
For the first four months of the
present year the Capital also made
an outstanding record, far ahead of
the average for the whole country.
Sales in this city we're up 81 per cent
over the like period a year ago, the
United States average being a gain
of 8 per cent. Maryland sales were
up per cent; Virginia, II per cent;
west Virginia. 18 per cent; North
Carolina and South Carolina just the
same as year ago.
April business in this city aggregated
s5,47l,O0O. In Maryland it totaled
x7466. 5000. in Virginia. S6,488,000; in
west Virginia. s5,137 900; in North
Carolina, 5000 900, and in South
Carolina, s2,743,OOo. Seventy-seven
per cent of the agencies doing busi-
ness in Washington reported gains
over the same period a year ago in
April.
Joins National Surety Staff.
The National Surety Corp. of New
York City, with local branch offices
in the Woodward Building. announces
the appointment of Francis S. Key
Smith as its washington representa-
tive for judicial bonds. MIR. Key
Smith is an old Washingtonian,
prominent member of the District OF
Columbia bar and an overseas World
War veteran. He resigns SIMILAR
position with the Fidelity and Deposit
Co. of Maryland, which he has held
for the past IA years in order to take
the appointment.
Holders of stock in the North Amer
lean Co. have received communica-
tion from President Fogarty stating
that the impression has been given
out that the objections to the bill be-
fore Congress to do away with utility
holding companies have been toned
down and the Objectionable features
modified. The impression is entirely
misleading" the communication says,
"as regards the effect of the bill on
the North American Co. and other
sound utility holding companies
THE destructive character of the
bill still remains the letter adds.
Its passage would mean tremendous
loss to the stockholders OF the North
American CO. The letter further as
serts that so far a majority OF the
Senate Committee has diSregarded
"the general condemnation of the bill
by business men. economists and IN
vestors."
THE situation can only be met by
the stockholders themselves, speaking
as investors and voters" the letter
concludes. Similar letters are being
sent out by all the other big utility
holding companies in a last-minute
effort to prevent their forced disso-
luton.
Transit Sells at New Low.
Capital Transit stock sold at new
low mark for the present year when
1t dropped to Is on the Washington
Stock Exchange today. The market
opened with 10 shares moving at
15A, down from the last previous
sale at 171a. Ten more shares
changed hands at 1513 and then a
final sale of 10 shares came out at
is fat. The days market closed
with Is bid for the stock and l6
asked.
The remainder of the session was
devoted to baby bond trading IN Po-
tomac Electric Power IS, 1858, three
bonds of 500 denominations selling
at 1861. There were important
changes in bid or asked prices on
other securities during the 5ession
Potomac Power, Washington Rail
way g. Electric, Lanston Monotype
and woodward g. Lothrop common
are issues now being quoted ex-divi-
dend on the exchange.
Financial District Notes.
Robert v. Fleming Is scheduled to
address the annual convention OF tie
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