Evening star. [volume] (Washington, D.C.) 1854-1972, 1935-05-27
BANKERS INCREASE
RESERVAT|0NSL|ST
More Than 200 Expected to
Attend Annual D. c.
Convention.
BY EDWARD c. STONE.

BY EDWARD c. STONE.
Further requests for reservations
for the seventeenth annual conven-
ton of the District Bankers Associa-
ton at Hot Springs, Va, were re-
ceived today. General Chairman
Hilleary G. Hoskinson is now making
the prediction that the attendance
will pass the 200 mark. That will be
well ahead of last year.
All arrangements have now been
completed for the Washington bank
ers and their guests TO leave the Cap
ital next Wednesday evening at $50
aboard a special train, arriving at
the Virginia resort in time for break
fast The party will be back in
Washington the following Monday
morning, financiers having lost but
one and a half business days. on ac-
count of Memorial day. the half day
Saturday and Sunday.
The first days program calls for the
annual report of the associations
president Frederick P. H. Siddons;
greetings from the American Bankers
Association by Vice President Robert
V. Fleming and two special addresses.
j. K. Gilchrist, special assistant to
the Federal Housing Administrator,
will speak on Federal Housing Ad-
ministration Insured Loans, and
George E. Hamilton, lr. assistant
trust officer. Union Trust Co. will
speak on Some Aspects of Trust
Administration"
The annual report of the safe de-
poSit section is to be made on the
opening day by Richard E. Harris
chairman. Committee appointments.
and meetings of the national bank.
savings bank, State bank and trust
company divisions. will absorb the
remaining time on the program. The
other two morning sessions Will be
equally busy. Charles H. Doing. first
vice president of the association, will
preside on the second day and Karl
w. Corby, second vice president, will
be in the chair on the third day.
New 100000, 900 Bond Issue.
The Treasury has announced an
innovation in postwar financing, the
sale to the highest bidders of $780,
100000 of 3 per cent Treasury bonds
OF l946-48. The offering is an ad-
ditional issue of the bonds first mar
keted on June Is, 1884 and will bear
that date. Tenders must not be less
than par and accrued interest.
Secretary Morgenthau also an
nounces that approximately s744.-
100000 of the First Liberty bonds,
called for redemption on June 10,
have been exchanged for 27s per cent
bonds of l955-6O Together with ap-
proximately 1854 100000 of the flrsts
previously exchanged for the Us
per cent Treasury notes OF 1910. total
exchanges for the First Liberties ag-
gregated Sl,608 100000.
The conversion of the First Lib
critics was one of the most successful
in the Treasury'S experience, with
about 83 per cent exchanges, or a
slightly higher percentage than the
last refunding of Fourth Liberties.
Exchanges of First 3l2s were espe-
cially high, with SO per cent of
the total turned in. s754000,0O0 of
them for notes and S463 100000 for
bonds. Out of the First As and 4Hs,
y
and 1921 100000 for bonds. or ratio
of 70 per cent Notes we're popular
with holders of 8 rs because of extra
tax exemption features. while the
sower conversion of As and 41.s is ex-
planned by their widely scattered small
holdings.
Nees Prepares Useful Folder.
3. j. Nees, connected with James
M. Johnston e. Co.. Southern Build
Sng, has originated a stock and bond
register in which to keep records for
income tax reference and intended to
simplify this work at the end of each
year. The folder has space for q
stocks or bonds, showing the amounts
carried, rate of interest, annual in
come, column for each month in the
gear for recording purchases or sales,
SIS we'll as the percentage of Federal
income tax paid by the company.
The date of purchase, cost price,
amount paid. accrued interest paid,
date sold, selling price, amount re-
ceived and interest received Is all
recorded in separate columns. The
register, if kept up to date. will give
any investor just the facts he has to
nave at hand when he makes out his
tex return.
Mr.. Nees put much care and
thought into preparing the folder and
has received many congratulations on
the results.
Insurance Plan Permanent.
w. r. Milford. assistant to the chair
man of the Federal Deposit Insurance
Corp, told Georgia bankers the other
day there is no doubt but that the
insurance of bank deposits will remain
q vital part of the banking system for
many years. In many quarters" he
said, the idea seems to be prevalent
that the insurance of bank deposits
is merely relief proposition but such
Is not the case" He added:
1T is keenly felt by those in charge
OF the corporations affairs that our
obligations extend beyond a mere
routine administration for paying
losses and assessing those losses
against the banking system. The
benefits to be derived for deposit in
lection of individual depositors. The
entire banking structure of our coun-
try is intimately interviewer one part
with another, and there should be
full measure Of cooperation between
banks as we'll as between the various
supervising agencies"
Transit Stock Again Active.
Capital Transit stock was again I'M
usually active on the Washington
Stock Exchange today. 1t changed
hands in lots from 5 shares to so
shares. all made at 1915, the same
price at which it closed Saturday. The
days turnover totaled lis shares.
The market closed with ISIS bid and
Is asked.
Lanston Monotype came out today
in one small sale at so, unchanged,
while Potomac Electric Power 5R per