Evening star., 1936-05-14

Mr.. Fl e m Ing
Louis d. Bliss will speak on the
present banking situation from a
national viewpoint His address will
naturally include observations and
facts obtained during his countless
contacts with bankers from all over
the country during the year as he
carried out his official duties. It is the
first time in the history of these con-
claves that the head of the A. B. A.
has been a member of the District
Bankers Association and his aSso-
ciates plan to make him an honor
guest.
Charles H. Doing, president of the
association and first vice president of
the Washington Loan & Trust CO..
will call the convention to order and
review the years work. Another
speaker will be J. Harvie Wilkinson,
vice president of the Virginia State
Planters Bank e. Trust Co. of Rich
mond, who will discuss Bonds in
Banks Portfolios"
Charles H. McComaS, manager ana
attorney, Fidelity & Deposit Co OF
Maryland, will speak on Some Aspects
of Banking and Suretyship," subject
on which he is considered an author
itv. A review of Commercial trade
activities in Washington will be pre-
sented by Norman E. ToWson, assist
ant treasurer of the Washington Loan
e. Trust Co., after which Lanier P.
McLachlen. president of the Nc
Lachlen Banking Corp. will report
on Treasury Relations.
Chairman Addison stated that the
Program Committee had decided to
omit the usual formal reports of sec
tions and committees and in their
place hold discussions on the features
of their work which require general
consideration By the association men,
bers.
Bliss Metropolitan Secretary.
Louis D. Bliss. president of the Bliss
Electrical School, Takoma Park. was
elected secretary of the board of di-
rectors Of the National Metropolitan
Bank at the May meeting yesterday
afternoon. He has been valued
member of the board for several years.
One of the best known scientific
men in the country, Prof. Bliss is a
native of Newburgh, N. Y, and a
graduate of Columbian, now George
Washington, University. He founded
the Bliss Electrical School and has
personally directed it for 40 years.
At the same time he has done much
writing on scientific subjects, prob
ably his best known book being
Theoretical and Practical Electrical
Engineering"
A member of many national scien-
tific organizations, Prof. Bliss also be-
longs to the University and Cosmos
Clubs and is a leader in the Baptist
Church. A resident of Takoma Park,
he has rendered important service on
the town council and has been active
in the affairs of the Takoma Park
Citizens Association.
Savings Convention Notes.
Conservative first mortgages COM
pare favorably with bonds rated as
suitable mutual savings bank invest
ments, according to report present.
ed today at the Atlantic City con-
vention.
The draft of a model mutual saw
sngs bank law will be available as a
result of studies conducted by the
Committee on Extension of the saw
ings bank system, Harold j. Staples,
Biddeford, Me-, told the convention.
Sale of new bond issues to invest
ment bankers before they are offered
mutual savings banks was scored as
unfair by E K. Woodwork, chairman
of the Committee on Public Utility
Bonds.
The railroads must exert themselves
to the utmost to win back to the rails
some of the traffic which has been
lost to the highways and the water
ways, Henry Bruere, president of the
Bowery Savings Bank, declared, call
ing for greater action by railroad
management.
According to news dispatches, en-
couragement for New York, New Ha-
was extended by Myron F. Converse,
who traced steps taken in trying to
solve the roads difficulties.
Union Trust Joins Reserve.
has become member of the Federal
Reserve System. according to an
nouncement made today by Ord Pres
ton. president of the bank. The Fed
eral Reserve Bank of Richmond sent
word yesterday that the banks ap-
plication had been accepted. The
Union Trust Co. was founded in 1900.
Since Mr.. Preston became president
of the institution in 1882 the banks
deposits have increased more than
S3.50O,000 to the present total Of con-
sderably over Sl0.000,000.
Charles e. Stuart. vice president of
the Export-Import Bank since it was
founded two years ago. has resigned
to resume the active presidency of the
engineering firm of Stuart, James &
Cooke in New York.
Railways As in Good Demand.
Trading in Washington Railway &
Electric As featured today's. session OF
the Washington Stock Exchange, five
$1,000 transfers taking place at lot
Capital Transit stock came out at II
on a l0-share sale, and single share
of Washington Gas Light stock ap-
peared at 81, up point over the last
previous sale The market closed with
Is shares of Potomac Electric Power
b1a per cent preferred changing owner
ship at 1l0A.
Both Potomac Power preferred
issues, Washington Railway & Electric
common and preferred and Mergen-
thaler Linotype are being quoted eS
dividend, payments being due in a
short time.
Insurance Payments Heavy.
In their sales talks during "Insur-
ance week" agents here are report
ing that life insurance companies in
the United Statese paid out more
than $4,000, 100000 in claims in 1885,
or twice as much as Federal relief