Evening star., 1936-09-27
WHITE REELECTED
HEAD Of POTOMAC
INSURANCE BOARD
Richardson Keeps Presi-
dency-Moore and Hoeh..
ling Also Renamed.
CORBY PRAISES PROGRAM
AT BANK CONVENTION
Chief of D. c. Association Returns
by Plane-Cites Constructive
Phases of Conclave.
BY EDWARD C. STONE.


George w. White, president of the
National Metropolitan Bank, was re-
elected chairman of the Board of Di-
rectors of the Potomac Insurance Co.:
Frederick Richardson, president:
Thomas c. Moore, vice president and
manager. and Judge A. A. Hoehling,
second vice president, at the Septem-
Der meeting of the board Friday, it was
announced yesterday.
The annual meeting was held in Au-
gust when directors named included
the above officers, together with o.
H. P. johnson, F. Norie-Miller, c. F.
r. Ogilby, Charles E. Hood, S. Norie-
Miller. James F. Mitchell and Alexan-
der K. Phillips. In point of service,
Charles E. Hood is the Oldest member
of the board, having been made di-
rector in August, 1906.
Business disposed of. the directors
took a look at the minutes of similar
meeting held los years ago, in Sep
tember, 1881. At that time w. w.
Corcoran was very prominent in WASH
tngton affairs, and charter member
Of the insurance company. During
the meeting he asked for rate Of
insurance ION the stock of dry goods
of Darious Clagett. on two brick houses
under construction on First street, on
mills occupied by jacob Newcomer on
the Shenandoah River and on the
stock in Caivert's mills in Bladens-
burg"
The rate was fixed at IS cents.
Rates on insurance at that time, es-
pecially on -four and grist mills, were
much lower than at present. The
average country mill is considered an
undesirable risk today, but not so los
years ago. As there we're no under
writing bureaus. the Board of Direc-
tors fixed their own rates and it is
most interesting to see in the minutes
what successful results were obtained.
Corby Lauds A. B. A. Farley.
Karl w. Corby. president of the
District Bankers Association and
partner in w. B. Hibbs g. Co., who re-
turned by air from San Francisco, de-
clared that the A. B. A. Convention
was soundly constructive and that the
frank expression Of views on the big
banking problems Of the day was most
helpful.
Marked enthusiasm over the accom-
plishments Of the last year was evi-
dent, and the bankers pledged them
selves to carry on during the next II
months. Mr.. Corby praised the sue
cess attained by the retiring president,
Robert v. Fleming, during the past
year and recalled the tributes paid him
during the convention.
The new president, Tom K. Smith,
Is man of great banking experience,
Mr.. Corby added. His profound knowl-
edge Of banking has already been DEM
onstrated in the work he has per-
formed for the whole Nation and for
the American Bankers Association.
He is a great American citizen and his
success at the head Of the A. B. A. is
already assured, Mr.. Corby said.
He was naturally very much pleased
with the honors conferred on WASH
ington bankers by the new administra-
ton.
ID. C.. Trade Turns Upward.
Department store trade in Washing
con during the week scored an ILL per
cent gain over thet corresponding week
last year and was a. per cent better
than the previous week this year.
Opening of the schools and increased
demand for Fall wearing apparel
caused the upturn, the Commerce De-
partment reported yesterday.
The value of building permits was
greatly augmented by new $1,300,000
Police Court Building plus substan-
tian gain in business and residential
construction, making total value for
week $2,308,5l2, as compared with
$191,500 previous week and $376,20
corresponding period last year.
The G. A. r. Encampment and the
continued warm weather added i'm
petus to the number of visitors in
city. as evidenced by those registering
ut Smithsonian Institution, the num-
Der being 48,767 last week, 44.677
previous week and 34,el3 same 1885
week. the report said.
Institute Committee Named.
The Athletic Committee Of WASH
ington Chapter, American Institute Of
Banking, headed by George NJ. Rowzee,
jr., has planned very interesting
program for chapter members. As
sisting the chairman on the commit
tee are:
James A. Bruen, w. B. Hibbs g.
Co.; Merrill William brennan, Ameri-
can Security g. Trust Co.; George
Galleher, Lincoln National Bank; Will
liam L. Grimes, jr., American Sc
curity g. Trust Co.; Melvin L. Handy,
National Metropolitan Bank; Henry
p. Hoffman, jr., Second National
Bank; Alton c. McAllister, the Wash
ington Loan & Trust Co.; Stephen
o. Porter, Riggs National Bank, and
Ross l.. Totten, Washington Loan e.
Trust Co.
Banks Can Solve Problems.
Speaking at the banquet Of the Saw
lngs Banks Association Of the State
Of New York, Joseph A. Broderick,
member Of the Board Of Governors
Of the Federal Reserve System and
former New York State superintendent
of banks, declared that "the prob
lens of banking are not insoluble.
T}av ron he solved nv bankers them.