Evening star., 1936-05-31
Karl W. Corby Takes Over
Presidency as Successor
to Charles H. Doing.
MILLER GIVES ADDRESS
ON 1885 BANKING ACT
Important Annual Reports Heard.
Family Dinner Is Closing
Feature of Conclave.
BY EDWARD C. STONE.

important dIlludl IepOIIS, ali duOl 6SS
on Federal Reserve changes in the
1885 bank act by DR.. Adolph C. Miller,
former member of the Federal Re-
serve Board, and the family dinner"
were among the closing features of the
eighteenth annual convention of the
District of Columbia Bankers ASSo-
citation, held at the Greenbrier Hotel
here.
At the end Of the morning session
today Karl w Corby was elected presi-
dent Of the association for the coming
year. succeeding Charles H. Doing,
first vice president of the Washington
Loan & Trust Co. Thomas ]. Groom,
vice president and cashier of the Bank
Of Commerce & Savings, was advanced
to first vice president, while Hilleary
G. Hoskinson. one of the vice presi-
dents of the Riggs National Bank, was
elected second vice president.
Ord Preston. president of the Union
Trust Co.. who was chairman of the
General Committee arranging for this
years convention, was elected third
vice president. According TO custom,
he will become president of the asso-
citation four years from now.
Albert S. Galley, vice president of
the Lincoln National Bank, was re-
elected treasurer Of the association for
the twenty-fifth time, while Frank j.
Hogan was retained as general counsel
President Brokerage Partner.
The new president, Mr.. Corby, is a
native Washingtonian. was educated in
the Capital and graduated from the
Wharton School of Finance and Com
merce, University of Pennsylvania. in
1915. He was associated in business
with his father. the late Charles L
Corby. until 1926. That same year he
became a director in the Riggs Ma
tional Bank and is still on the board
In October, 1928, Mr. Corby became
general partner in the brokerage
firm of w. B. Hibbs g. Co.. members
Of the New York Stock Exchange and
other principal exchanges. He is ac-
lively affiliated with w. B. Hibbs w.
w. Spaid and J. Thilman Hendrick in
the management Of this firms affairs,
and holds memberships on the New
York Curb and Washington Stock Ex-
changes.
Mr.. Corby is a member of the Board
of Trustees of the George Washington
University and chairman of the
Finance Committee and has served as
president of the Central Dispensary
and Emergency Hospital since May,
1894. Since 1926 he has been a di-
rector of the Lanston Monotype Ma
chine Co.
Bankers Hold Annual Dinner.
The family dinner" one of the fea-
lures of the convention for the last
II years, was held tonight, with
Charles M. Doing, retiring president.
presiding, and Edwin C. Steffe, former
Washington banker, acting as master
of ceremonies, who also captivated the
banqueters with his songs.
The Floyd Ward School of Dancing
Roanoke, furnished a series of song
and dance numbers; Arthur B. Pierce
OF Washington appeared in imperSona-
tions, and the Greenbrier Quartet
rendered several numbers. Awarding
OF prizes won during the many golf
and other sports events was another
feature of the party which aroused
great interest and applause.
Four new members were elected to
the Council of Administration, C. F.
Jacobsen, National Metropolitan
Bank; A. L. McLachlen. McLachlen
Banking Corp. T. Stanley Holland,
American Security and Trust Co.,
and c. H. Pope, Munsey Trust Co.
Other members are the new officers,
Mr.. Doing and George o. Vass.
Doing in District Post.
Mr.. Doing was elected -presi-
dent for one year, for the District
Bankers Association, of the Ameri-
can Bankers Association, succeeding
+. P. H. SiddonS. w. ]. Waller was
elected member of the A. B. A. Nom-
mating Committee, with Howard Nor
gan as alternate.
Other officers in the A. B. A. elected
today were John A. Reilly, Second Ma
tional Bank, to represent the national
bank division; T. Hunton Leith, Sc
curity Savings & Commercial Bank,
savings bank division; w. L. Koontz
Anacostia Bank, State bank division,
and B. L. Cotton, National Savings &
Trust Co., trust company division.
In an informal address before the
association, Mariner S. Eccles, head OF
the Federal Reserve Board, declared
that bankers face a challenge and
should assume leadership in meeting
the new and changing economic con-
oil
furnishes great opportunity for
service. There are 100000 fam
lilies in the United States who have
an income of $4,000 or less a year who
are entitled to better homes and more
comforts and in the better housing
movement the surface has hardly been
scratched, he said.
Changes in Banking.
Banking has undergone amazing
changes, he pointed out. Corpora
tions are no longer borrowing vast
sums from the banks which means
that banks must seek new fields for
their funds. They must turn more
and more to the long term invest
ment market: They have every justi-
fication for buying long term Govern
ment securities. The new banking
act broadened the type of investments
permitted by banks and at the same
time made such investment more
liquid.
Bankers should not be frightened
by the changing conditions, he said.
All the more important moves in
banking progress were bitterly opposed