Evening star., 1936-09-10

Willard d, the
=. ,~.-;.. chapters annual
education dinner
took place at the Raleigh when chap
ter officers, members of the faculty
and guest speakers appeared on the
brief program. Gov. Broderick was a
guest at the dinner.
In his radio address on adult Edu-
cation in Banking" Gov. Broderick
told the members of Washington
Chapter and 219 others that basic
changes in bank law and practice have
necessitated new and intensive study
on he part of all bankers, both young
and old, of their new opportunities
and responsibilities. After urging the
study in every community Of the spe-
cial banking needs, he added:
Study of Changes Needed.
Changes in the importance of vari-
GUS banking functions likewise require
constant study. The note issue func-
ton of banks has become practically
non-existent. The deposit function,
with q very fine line of derarcation
between demand ana time, or savings,
funds, Is clearly in need Of clarifca-
ton. The discount function has
changed. materially in Importance
through the changing method Of f.
u1nclns business, the process has
been a gradual one. The principal
Investing function Of banks is graau-
ally becoming one Of securities rather
.han Of loans, This trend and the
means Of analyzns securities before
purchase is 9 vital one tor our smaller
institutions Pubic finance Is an
ether question thai needs thorough
study On the part Of al bank men.
TAXATION measures and methods moi
only affect the individual banker but
the entire monetary an6 economic
condition Of the country.
Marked improvements in the rela-
ton of banks with governmental
agencies have been shown during the
last few years as result Of the help
full attitude of committees Of the
American Bankers Association and
the Reserve City Bankers Associa-
ton, which have been extremely valu-
able to governmental agencies charged
with the performance of certain duties
affecting bankers. This experience
has shown the necessity Of further
efforts in the same direction. Because
of their knowledge Of the practical
operation and effects of supervisory
end regulatory methods, bankers may
be extremely helpful in shaping the
rules, regulations and even the laws
pnder which banks are to operate"
Bankers must be frank with the
public, Mr.. Broderick said, adding that
It is highly important that the pub
JIG know what the real functions of
banking are and what services banks
are IN position to offer"
Record Attendance Noted.
Paul J. Seltzer, chapter president,
presided at the Willard meeting while
J. Earle McGeary, chairman of the
Education Committee, took charge of
the program at the Raleigh. Harold
Stonier, national education director;
Gov. Broderick, Karl w. Corby, presi-
dent of the District Bankers Associa-
tion, and Raymond B. Dickey, dean
of the institute faculty, made brief
addresses during the evening. In ad-
dition to the awarding of the certifi-
Gates, great interest was manifested
In several prizes which were also
presented.
Chapter officers speaking at the
dinner included William H. Laughlin,
vice president; G. Crawford Turnbull,
chief consul, and Francis E. Robey,
membership chairman. 1t was the
largest dinner of the kind the chapter
has ever held-between 80 and 100
members and guests.
Doris E. Strobel, Office of the Con-
troller Of the Currency, was awarded
first prize for scholarship in the
standard course and also the special
prize given by the Bank Women's
Club. The second standard course
prize went to Daniel J. Tyrrell, Wash
ington Loan & Trust Co., and third
10 G. Crawford Turnbull, Morris Plan
Bank.
Frances E. Nagel, Riggs National,
won first place in the pre-standard
sourse; Francis E. Grimes Of the same
bank took second honors and Wilmer
A. Eisenhart, Controller Of the Cur
rency's Office, won third prize.
Linn Starts for Convention.
Arthur j. Linn, controller Of the
Hamilton National Bank, left yester-
day to attend the twelfth annual con-
vention of the National Association of
Bank Auditors and Comptrollers, to
be held in San Francisco, stimuli
taneously with the convention of the
American Bankers Association. Mr..
Linn is at present second vice presi-
dent Of the National Association of
Bank Auditors and Comptrol1ers and
has served on many Of its more i'm
'portant committees. The local auditors
lsection, of which Mr.. Linn was at one
time chairman, is hoping that he will
eeturn as first vice president Of the
national association.
Other Bankers Head Westward.
John A. Reilly, president of the Sec
bnd National Bank, left the city this
afternoon for New York to board the
I2ed Special tomorrow for the West
Coast and the A. B. A. convention.
M. F. Calnan, president of the Lib
Serty National Bank, will be aboard
The same train, also convention bound.
He left the Capital yesterday. Their
route includes a large amount Of
tightseeing on the way West.
The board Of directors Of the Sc
Eurity Savings & Commercial Bank
yesterday declared semi-annual divi-
hend Of 2 per cent, payable September
20 to stockholders Of record Friday,
September rs.
Today's Trading on Exchange.
Five $1,000 transfers and $500
tale In Washington Gas IS, 1860, led
ltrading on the Washington Stock Ex-
change today, the bonds opening at
,l21M and closing at 1925. Ana
costa g. Potomac r. r. IS came out
ut 77H.