Evening star., 1936-10-16
FLEMING RETURNS
FROM A. B. A. TRIP
Past President Declares
Convention Revealed
& More Optimism.
BY EDWARD c. STONE.

Robert V. fIemlng, HIliiieoldee poo.
president of the American Bankers
Association, and president of the Riggs
National Bank, was back at his desk
today as a private citizen" He
fingered to enjoy few days Of well
earned rest on the Pacific Coast,
following adjournment Of the A. B. A.
annual convention at San Francisco.
Mr.. Fleming declared today that OF
all the A. B. A. conventions he has
attended. he found the bankers at
the San Francisco gathering the most
optimistic regarding the future Of
banking.
Reports from all over the United
States showed that business is going
ahead steadily and that the recovery
is now on a sound basis. Bankers
realize that they must find new
sources for lending their money, but
at the same time there is modest
expansion in commercial loans, the
problem of what to do with loanable
funds having been one of the most
purplexing through the depression
years. The present increase in such
loans is encouraging, Mr.. Fleming
said, and furnished one basis for the
San Francisco optimism.
Banking Structure Sound.
Mr.. Fleming agrees with the state
ment made the other day by the
controller of the currency, j. F. T.
O'Connor, to the effect that the bank
ing structure of the country is on
more firm basis today than ever in
its history. Generally speaking, said
the former A. B. A. chief, that Is
true.
In addition to the soundness of the
present situation, Mr.. Fleming called
attention to the fact that there Is
more research being carried on rela-
tive to banking than has been the
case in the past. This research is
most important in showing any weak
spots that might exist and at the
same time helpful in developing proper
remedies. It has been a known fact
for some time that bank earnings are
on the increase.
Mr.. Fleming considered the San
Francisco convention one of the most
helpful in years. 1t served bene-
improvement and was therefore of
general public interest. Mentioning
the topics discussed, he added:
Program Largely Economic.
zone was the changing conditions
under which banks must now oper-
ate and the necessary managerial
steps and policies being developed to
meet this situation.
"a second most important char
acteristic Of the convention was the
significant messages brought to the
bankers by other than bankers
among the speakers, analyzing and
presenting suggestions regarding the
- relations between banks and other
businesses, as well as the people in
their communities.
AS we had anticipated, the discus
sions throughout the convention re-
manned absolutely non-political and
also there prevailed large measure
of unity and harmony among bank
ers as to their own particular prob
lens" Mr.. Fleming said.
Investments and the relation be-
tween commercial banking and the
trust departments were two other Sub
Jects that looued large during the
sessions. Every effort was made to
keep all the discussions Of business
and banking on an economic rather
than a political basis.
Throughout the year Mr.. Fleming
Insisted on keeping the association
out of all political wrangles. his
friends declaring that this accomplish
ment was one Of the highlights of his
administration. With less diplomatic
leadership, they say, the association
might have been split into factions
and its real work almost ruined. With
ali types Of banks and banking rep
resented, Mr. Fleming took the ground
that the organization must hold to its
economic aims and purposes.
Lauds New A. B. A. President.
Mr.. Fleming predicts continued busi
ness advances, regardless of the out
come of the presidential election. He
highly praised Tom K. Smith, the new
head of the A. B. A. He is brilliant
man and able banker. He is in par
ticularly fine position to be president
of the association; close friend OF
President Roosevelt and member of
the same college fraternity to which
Gov. Landon belongs. Either way the
election goes, he will be In strong
position to do a great deal for sound
banking.
Asked why there were not more
Government officials on the San
Francisco program, the former as
sociation president said that the 1885
banking legislation had been thorough
ly discussed at the convention year
ago and the measures fully interpreted
at that time. The association, how
ever, regretted not hearing Jesse H.
Jones of the r. F. c., who did not
appear on account of illness.
Mergenthaler Earnings Up.
Good earnings are the main reason
assigned by members of the Washing
ton Stock Exchange for the advance
in Mergenthaler Linotype stock to a
high mark for the year of $3.50 per
share, against 1886 low price of
$3.50 a share.
The gain of SIS a share has caused
q lot of comment in the financial
district during the last few days
While no definite figures have ap-
peared, the stock would not have
moved forward so rapidly without
steady and perhaps rapid improve
ment in income and first-class pros
poets for business next year.
The advance in Mergenthaler quo
tations from the bottom of the de-
preston has been little less than
sensational. Last year the stock was
as low as $25 share. After the Wal
Street break in 1929, the stock turned
downward and dropped to SIS or $16 a
share before starting upward. From
last years low point, the price OF
the stock has gained more than 10C
per cent.
The Mergenthaler Linotype Co.'S
fiscal year ended September 80. The
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