Evening star., 1936-06-01
BANKERS RETURN
FROMCONvENT|0N
Eighteenth Annual Conclave
Largest Since Start of
Depression.
BY EDWARD C. STONE.

over Lne IOuT-Qay COIlCldFG. IL WAS JIlS
largest convention held since the be-
ginning of the depression and one of
the best from the standpoint of
varied and interesting program.
In his annual report Charles H.
Doing declared that the banks of
Washington had made splendid prog
ress during the last year. They are
not out of the woods yet" he said,
but substantial progress toward more
normal conditions has been recorded"
He cited the number of loans under
the Federal housing act as one of the
most impressive examples of the
real advance now being made.
The impromptu address of Gov.
Mariner S. EccleS of the Federal Re-
serve system was considered one of
the best talks. He pictured the
sweeping changes in banking which
have brought about entirely new con-
ditlons, pointed to the position long
term credit must take in the future,
suggested ways by which banks may
employ more of their funds and urged
bankers to meet the new challenge and
do their full share toward advancing
recovery. He added that bankers
should not fear any changes which
are progressive. He was introduced
by Robert V. Fleming and given an
ovation at the conclusion of his re-
marks.
During one of the sessions, President
H. H. Mckee. president of the National
Capital Bank, presented a memorial
to the memory of Charles C. Glover
and another to the memory of Will
liam J. Flather. which were placed on
the records. The memorial pointed to
their work for the Riggs National
Bank and their service to the COM
munity.
The committee chairmen received
unstinted praise for their work. The
family dinner" was one of the best
in years. The sports events aroused
unusual interest. The convention will
long be remembered.
George L. Starkey Praised.
Bankers in the financial district to-
day were shocked to hear of the death
of George L. Starkey. president of the
National Bank of Washington. after
serious illness of about five weeks. He
was one of the ablest bankers in
Washington and was man universally
liked and respected. He received some
brilliant tributes.
Robert V. Fleming, president of
Riggs National Bank, who is president
of the American Bankers Association.
said that for period of a quarter of
a century I have had the pleasure to
know Mr.. Starkey and have been
closely associated with him in the
banking business of this city.
mo finer character or ADLER banker
ever lived here" he declared. His
death is not only one we learn Of
with sense Of deep personal loss"
he continued, but the loss of his
contribution to the banking business
here will be keenly felt.
He was an outstanding man OF fine
ability and great personal charm"
Karl w. Corby president of the
District of Columbia Bankers ASso-
citation, said:
George Sharkey was possibly one
of the most earnest and sincere gen.
tlemen in the city Of Washington.
In his capacity as a banker over
many years he has endeared himself
not only to the senior bankers Of the
city, but to every junior banker, who
admired him for his character and
ability. We will feel his loss for
many years to come"
j. Frank White, vice president and
cashier of the National Bank of
Washington, paid a glowing tribute
to Mr.. Starkey. HE was man of
sterling character and wonderful per-
sonality. I had been associated with
him in the bank for almost half a
century and I cannot express my
feeling of personal loss. His passing
is a great loss to the banking fra
ternity, as well as to the community
at large. Such men are rare, indeed"
Farm Mortgages Improving.
The Federal land banks, Govern
ment instrumentalities providing
mortgage money to the farmer, are
showing steady improvement in f1nan-
cial condition and operating results,
according to semi-annual report
just issued by the Government and
Farm Loan Bonds Committee of the
Investment Bankers Association Of
America.
Notable improvement in the man
ner in which farmers are meeting
their obligations and falling off in
the demand for new credit accommo-
dationS are reflected in the report,
which also points out that sales of
farm lands taken over by the banks
on foreclosure were so per cent
greater in 1885 than in 1884.
Less than 26 per cent of mortgages
held by the Federal land banks
recorded delinquencieS in interest or
principal installments as of February
%, 1896, as compared with "a per
cent at January /, 1885, and with
more than As per cent during the
worst part of the depression, the re-
port disclosed.
Fewer extensions of loans have
been found necessary in recent
months, the committee pointed out.
AS of February 90, 1886, the total of
extended loans was S33 ,342, 900, which
was $l8,000,000 less than at June 80,
1895.
Another report out today and noted
elsewhere in the financial section,
came from the Federal Reserve Bank
OF Richmond. The monthly review
shows building permits issued in
April in 81 cities in this territory were
the largest in any month since July,
1881.
Today'S Trading on Exchange.
Further interest in Lanston Mono
type stock monopolized most of the
trading on the Washington Stock Ex-
change today. The stock again sold
at 30 on one 6 and three 10 share
transfers. Capital Traction IS moved
In two $500 sales at co.
President Y. E. Booker expressed
deep regret over the death of George
L. Starkey, for so many years head