Evening star., 1936-05-19

-, tro;ns M. W. T.. fark'
already having been chartered to
take them to the West Coast from
all parts of the country. The presi-
dents annual report will be given at
the opening session; also the report
of the educational director.
The program is crowded with de-
nartmental conferences to be ad-
dressed by excellent speakers. The
principal speaker at the general clos
ing session. June II, will be Bruce Il.
Baxter, president of Willamette Uni
yersity, his subject being THE Man
Who Comes Through" Election re-
suits and installation of new ofncers
will be closing features. Every min
Ute of every day is booked with I'M
portant convention sessions or enter
tainment. st. Paul and Fort worth
are already after the 1887 gathering
The Washington delegation will in
clude Paul j. Seltzer. w. H Laugh
lin, ]. Earl McGeary, I. j. Roberts, l.
Hunton Leith, G. Elmer Flather,
Robert G. Whitton and G. Crawford
Turnbull.
Interstate Patrons Insured.
Insurance of its shareholders ac-
counts through the Federal savings q
Loan Insurance Corp. was announced
today by the Interstate Building Asso-
citation. Washington Building. Inc
Interstate is the third association OF
this kind in the District of Columbia
10 become insured in the past elght
months. Each investor now has pro-
lection of his account up to $1,000
Organized in 1882, the association
represents assets of approximately
s5o0oOo. It's officers are John l..
Weaver, president; Clarence Dodge,
vice president; Earl M. Macintosh
vice president; Martin r. West, treas
urer, and Edward K. Jones, secretary.
The Federal Savings & Loan In
surance Corp. was created by Congress
In 1884 as a means by which savings
building and loan associations can pro-
vide a safeguard similar to that afford
ed bank depositors by the Federal De-
post Insurance Corp.
'It should be noted that insurance
of savings is wholly distinct from in
surance of mortgages administered by
the Federal Housing Administration
President Weaver said.
Siddons Sees Drives Success.
Frederick P. H. SiddonS, secretary
of the American Security & Trust
Co., is meeting with marked success
nI,a @f 1n
Capital Campaign Committee OF the
Broad of Trade which is now conduct
ing its sixth annual drive for funds
10 carry on the work. The chief aims
of the committee are to bring more
conventions, more tourists and more
permanent residents to Washington
every year Mr.. Siddons reports fine
cooperation on the part of other
members of the committee and favor
able responses to the committees fund
appeals.
Other bankers on the committee are
Thomas J. Groom, vice president Bank
of Commerce g. Savings; George o.
Vass, vice president and cashier of
the Riggs National Bank, and Francis
G. Addison, jr., president of the
Security Savings g. Commercial Bank,
who is also committee treasurer.
Chairman Siddons believes the COM
tnittee's work is of great value to the
business interests of the Capital all
the year round, the banks getting
their share of the benefits in the
way Of enlarged deposits.
Appraisal Clinic Planned.
A round-table discussion and study
Of the problems of residential apprais-
Ing, based on an actual test case made
OF property in the District, will be
held under the auspices of the Dis
trict of Columbia Building & Loan
League next Monday, May Is, accord
ing to an announcement by Robert r.
Buckley, president of the league.
The discussion. which will be in the
nature of an appraisal clinic, will be
led by H. o. Walther of Chicago vice
president of the Society of Residential
Appraisers, and recognized authority
on the subject of appraising in all its
phases. Mr.. Walther will appraise
the value of the property selected for
the test case Monday morning and
his appraisal will form the basis for
the discussion.
Mr.. Walther is a lecturer in real
estate at Northwestern University and
as member of the American Insti-
tute of Real Estate Appraisers, is in
charge of the field work in connection
with the institutes appraisal course
to be given at the University of Chi
cago this Summer He is former Chi
cago district manager for the Home
Owners Loan Corp.
Gay Explains Criticism.
Most of the criticism of stock ex.
changes during a price relapse comes
from people who speculate with tor
little knowledge of what they are do.
ing, Charles r. Gay said at the con.
vention of stock exchanges in Cleve.
land last night. The publics gooc
will would be one of the beautiful
things of life if speculation could b,
carried on so that no money was evel
lost, the New York exchange chic
added, but neither speculation nor in
vestment can be made proof agains
L1lcCd1Su1dO1O1 dAO SAOPRJ tAiAA1h
ing, he said.
Chairman James M. Lands of thl
Securities and Exchange Commission
said the Government had made notable
progress in eliminating dealers IL
fraudulent securities, adding that th'
years ahead are years of even greater
challenge"
Carl E. Parry of the Federal Reserve
System declared that brokers and theil
customers generally had received th'
new margin requirements favorabl.
and would not like to see the ole
methods return.
Mergenthaler Linotype registered
two 10-share sales at 40 on the Wash
ington Stock Exchange today. up II
points from the last transfer. Rigg,
National Bank common was of lit.
tie today. four shares moving at 265