Evening star., 1936-01-13
bANKSW|LL HOLD
ANNUAL MEETINGS
Several Board Vacancies
to Be Filled by Stock
holders Tomorrow.
BY EDWARD C. STONE.

oI EDWAnD ~ S1oNLs
Stockholders In Washington's nine
national banks and in several savings
banks and trust companies will hold
their annual meetings tomorrow, the
second Tuesday in January. After
electing directors for the coming
year, some of the boards will organize
at once by the election Of of1cers.
Others will name the officers at the
next regular board meetings.
There are a few vacancies on the
boards due to deaths during the past
year or designations. These will be
filled. In several banks the same
boards will be reelected, with one or
two additions. So far as announced
in the financial district there will be
no extensive changes on any Of the
boards.
Some changes among the officers
are expected as there are always pro-
motions among the younger bank Of
ficials who have been long In the
service and deserve advances
While the majority Of banks In the
Capital have their stockholders meet
ings tomorrow, National Savings &
Trust, American Security & Trust and
Munsey Trust have their elections a
week from tomorrow.
A. A. A. Opinions Differ.
Wide divergence of opinion on the
effect Of A. A. A. repeal is reported in
the cotton and grain belts, according
to special survey made by Fenner
& Beane, and now being distributed
by the stock and commodity firms
Washington Office.
Considering all replies received from
all sections of the country, the firm
reports that 40 per cent of the edi-
torial opinions said the effect of the
court decision would be good in whole
or for certain groups, particularly
business and the small farmer; IS per
cent said the effect was not predicta-
BILE: 8 per cent said the effect would
be negligible.
Eight per cent also said the effect
would be good at least for the present
and % per cent believed there would
be no immediate effect as the greater
part Of the Government benefit checks
for 1885 had already been distributed,
while 40 per cent of the editors de-
S1dISd Lie cIcCG VI "a "a "a Icpcd1
would be entirely bad. In some spe-
cial sections 48 per cent Of the re-
plies said the effect would be bad.
In a section of the cotton belt.
editors feared ill-effects on the larger
planter, but said repeal would be bene-
flcial to the small farmers who felt
the absurd reduction of their cotton
privileges to a fraction of bale of
cotton was an outrage"
In the grain belt so per cent OF
the editors said the effect of repeal
would be negligible: IS thought it
good, while the remainder declared
A. A. A. invalidation would only defer
an even wider program of agricultural
come about"
Merchants to Hear Marshall.
John A. Marshall, director of the
Unemployment Compensation Board
of the District of Columbia, will ex-
plain the new unemployment COM
pensation law to the members of the
Union Market Business Association, at
the monthly meeting tomorrow at 2
pm. in the Union Market Terminal
Building, Fifth street and Florida ave-
hue northeast.
Following his address, Mr.. Marshall,
who Is also the superintendent of
insurance of the District. will discuss
the individual unemployment ques-
tions and problems Of members of the
market association 1t Is anticipated
that numerous problems will arise,
since the association includes as men,
bers the ma jority Of merchants in
Washington's major food distribution
center
It Is the feeling of both the mer-
chants and Mr. Marshall, however,
that the proper way to approach these
problems is to discuss them as planned
in seminar fashion.
End Of Rescue" Loans Seen.
Virtual withdrawal of the Govern
ment from the field of urban mortgage
rehnancing by April l was forecast
here on the basis Of the Home Owners
Loan Corp. announcement that 81 per
cent of its business is already COM
pleted, the Wall Street Journal says.
Only $500 loan applications, about
3 per cent OF the total submitted to
the H. o. L. c., still remain to be dis
posed Of, according to the announce
ment. Although the last of these cases
may not be finally disposed of until
the expiration of the H. o. L. C.s
lending authority, June 49, the activ-
3ties OF the corporation are expected
TO be terminated in a majority of the
States within the next two and a half
months.
Completion of the H. o. L. C. work
Will mean the end of the Federal res.
cue work in the field Of urban home
mortgages.
Join Life Insurance Staff.
Mrs. B. H. Davis of this city has
been appointed a Washington repre-
sentative OF the Lincoln National Life
Insurance Co. of Fort Wayne. Ind,
according to an announcement made
BY F. V. McNair. general agent. Mrs.
Davis will be a member of the F. v.
McNair agency. The company closed
1883 with insurance in force of. more
than $S80,000.000 and new paid busi-
ness for the year of s13l ,000, 900.
Trading Light on Exchange.
Anacostia & Potomac Railroad SIS
opened the weeks trading on the
Washington Stock Exchange. a 81 1000
bond selling at SO. The only other
sale was in Mergenthaler Linotype.
10 shares changing ownership at 40.
Other bid and asked prices were prac-
ideally unchanged. Carpet Corp. has
been added to the list Of issues soon
to pay dividends.
Fleming Talks Over Radio.
Robert v. Fleming, president of the
Riggs National Bank and the Amer
lean Bankers Association, took part
v Nationwide broadcast this fore
noon, covering building. industrial and
financial conditions.
Standing room only prevailed in
the local New York Stock Exchange
GGQAAa keloxy kka k~,,~