Evening star., 1936-10-27
REPORTS HEARD /
BY D. c. BANKERS
Efforts to Expand Public
Service Disclosed at
Fall Meeting.
BY EDWARD c. STONE.

SOCldGiOu ldUS yCctcIuuy III tIlc UOdlo
room of the American Security A
Trust Co., when special committee
reports were presented. present activi-
ties reviewed and various routine mat
tiers disposed Of.
President Karl w. Corby reviewed
the work done by the association since
he took Office last June. Every COM
mittee has been busy watching trade,
credit, changes in banking methods;
at the same time seeking new ways
to serve the public and expand bank
earnings. Banking conditions have
been improving steadily in the Capital
for many months and promise to con-
tinue the upswing.
President Corby called for a report
from the special committee appointed
to make a study of fiscal relations be-
tween the United States Government
and the District Of Columbia, pertain
ing especially to the proposed methods
Of taxation in the District. This re-
port was presented by Thomas j.
Groom. chairman Of the committee,
the other members being Lanier p
McLachlen, Francis G. Addison, jr.,
and Robert v. Fleming.
High tribute was paid to the memory
Of the late George L. Starkey, who
was president of the National Bank
Of Washington at the time of his
death, in resolutions adopted by the
association. The Resolutions Commit
tee was made up of Wilmer j. Waller,
-.
Doing and George o. Vass.
Walter r. Gardner, chief of the in
ternational finance section of the Fed
eral Reserve Board, Division of Re-
search, addressed the bankers on in
tricate financial problems. He was
technical assistant to the London Con-
ference on Currency Sterilization in
1888 and is an authority in his line.
In addition to the business Of the
meeting. insignia were presented the
associations section heads for meri-
torious service. These awards were
made by Mr.. Corby to Millard S.
Yeatman. Hamilton National Bank,
chairman of the auditors section;
James A. Soper, Lincoln National
Bank, chairman, fiduciaries section.
and John r. Hillyard, National Bank
Of Washington, who is head Of the
safe deposit section.
B. & o. Earnings Advance.
Net railway operating income Of the
Baltimore & Ohio Railroad in Sep
tember totaled s3,403 ,002, compared
with 50 SOB, ,666 in September, 1885, q
gain Of $894,336. Freight revenues
alone in September scored an increase
of $2.190,387. Passenger revenues
jumped s143.624. Operating expenses
we're higher than a year ago but were
kept well in hand, the increase in
this item being less than half the rise
In operating income
The B. 6s o. report for nine months,
also made today, revealed a net rail.
way operating income Of $21,146,57S,
as compared with 1888, ,083 in the
like period in 1885. an increase Of
$3,s93,495. Operating revenues to-
tailed $123,297,542, an advance of $19.-
09S,591 over year ago. Operating
course, the greatest increase in earn
ings was in freight service, which saw
q S17,583,295 rise in the nine months.
Passenger revenues gained almost
81 ,000,0 900 in the same period.
Insurance School Launched.
President Laurence H. Riggles pre-
sided at a special meeting Of the Dis
trict Life Underwriters Association
late. yesterday. when final plans were
announced for an insurance insti.
tute. The first term will open No.
vember 2 and close February %. The
faculty will include Morton H. VIII
ner, dean; Winthrop G. Batchelder,
registrar, and James E. OBrien, Sec
retary-treasurer.
The faculty will be made up Of
widely known Washington insurance
men, Joseph A. Marr, Harold D
Kraft, T. L. O'Brien, j. Allen Ma
phis, Dwight Scott and H. Laurence
Choate. Courses of study will include
economics Of life insurance, psycholo-
gy Of salesmanship, commercial and
insurance law. wills, trusts and es-
tates, economies governing sociology
and security of life insurance. The
new school is different from anything
ever before attempted in this city.
Sperry New Gas Director.
Marcy L. Sperry. president of the
Washington Gas Light Co., was hon.
ored today at the annual meeting of
the American Gas Association at At
lantic City by being elected a director
Of the organization for a two-year
term. according to special dispatch
to The Star. Mr.. Sperry has long
been an active worker in the organi-
zation and is a member OF the associa-
tions committee in charge Of $780,
900 national advertising program,
which was recently adopted.
Peoples Drug Earnings Rise.
1t was reported at the head Office
Of Peoples Drug Stores, Inc. here
today that indicated net profit of
S262,353 was registered in the Sep
tember. quarter. equal after preferred
stock dividend requirements to $1.01
q share on the common stock. This
compares with "a share in the pre-
ceding quarter and 81 cents per share
in the like period in 1885.
Bank Adopts New Service.
The Morris Plan Bank of Virginia
has inaugurated new checking serv-
ice requiring mo minimum balance
and making no monthly charge. It is
the first bank in the South to set
up this type of service, which con-
forms to checking systems adopted
by branches of the Manufacturers
Trust Co.. the National City Bank
Of New York and other banks of the
country. The charge for the service
Is 81 for a book of 20. checks.
Lanston Dividend Declared.
Directors of the Lanston Monotype
Machine Co. have declared the reg
ular quarterly dividend Of 81 a share,
payable November 80 to stockholders
of record November 20. The stock
sold on the Washington Stock Ex-
change the other day at 80, a new
1886 high.
The Washington Gas Light Co. In
an amendment filed with the Secur.