Evening star., 1936-05-27

and present his
report covering the years work.
Greetings from the American Bank
ers' Association will be presented by
Robert v. Fleming, who is head OF
the A. B. A. and also a member Of
the local association.
The first guest speaker will be j.
Harvie wilkinson, vice president,
State-Planters Bank g. Trust Co.,
Richmond, Va, Bonds in a Banks
Portfolio" being his subject. The
next speaker will be Charles H. Nc
Comas Of Fidelity g. Deposit Co. OF
Maryland.
Trade Report on Program.
One of the most important reports
will be presented by the chairman of
the committee on commercial trade
activities, Norman E. Towson, WASH
lngton Loan & Trust Co. Another will
sover Treasury relations, the chairman
being Lanier P. McLachlen, president
Of the McLachlen Banking Corp.
The clergyman opening the days
session with an invocation will be
Right Rev. Arthur c. Thomson, bishop
of Southern Virginia. The first days
program also includes the appoint
ment of Nominating and Resolutions
Committees and the selection of a
Nominating Committee to name vice
presidents for the four divisions OF
the A. B. A. The retiring vice presi-
dents are William v. Simmons, ma
tional bank division; S. Wilson Earn
shaw, savings bank; A. Scott Offutt,
States bank, and T. Stanley Holland,
trust company.
With Karl W. Corby, first vice pres
ldent, presiding, the second days pro-
gram will open with an address on
THE Greatest Safe Deposit Hazard, u
by Albert r. Fisher, Riggs National,
who Is chairman of the associations
safe deposit section. David Bornet,
,ice president National Savings &
Trust Co., will report as chairman of
the fduciaries section.
Other Convention Topics.
G. B. Craighill, Washington attor-
ney, will speak on Foreclosure Pro-
cedure in the District of Columbia, -
Another speaker will be J. Howard
Ardrey, Government official, who will
explain How Banks May Profit Un-
der the Federal Housing Administra-
ton" Development of the Educa-
tional Program Of the American Insti-
tute of Banking" has been assigned
70 J. Earle McGeary who has beer
president of Washington Chapter dur
Ing the last year.
The winning essay in the institutes
annual contest will be read by Roland
r. Carr, Riggs National, who won first
place. The credit bureau report by
Chairman James c. Dulin, jr., treas
urer, American Security & Trust Co.,
also Is on the second days program.
The Saturday session will open with
4 report from the auditors section by
Chairman James D. Barrett, American
Security Ss Trust. Thomas j. Groom,
second vice. president, will be in the
chair and introduce another guest
speaker, Adolph c. Miller, former
member of the Federal Reserve Board.
Reports are due from all the stand
ing committees of the association. The
association will recess and elect Off
eers for the organization to serve for
the district in the A. B. A. during
the coming year. The final event on
khe days proceedings will be the elec-
ton and installation of officers, with
Mr.. Corby slated to succeed Mr..
Doing as president
B. 4 o. Net Improves.
An interesting study in railroad
earnings trends is found in the Balti-
more & Ohio monthly report. which
shows net operating income in April
ut $2,636, All, compared with only
k979,873 for the same 1885 month
Total railway operating revenues
reached $13,568,619, against $10,753,-
ait for April, 1895, while operating
expenses totaled $9,783, ,682, against
es,71s,726 in the 1895 month. De-
ductions for tax accruals, equipment
rent, etc., climbed from s1,054,S18 to
el,148,466
In the first four months of this
year net operating income showed a
decline to $7,163 .399, against S7,276,-
37l In the same period q year ago
Total operating revenues climbed from
e45.015,s18 to $50,s42, ,024, but operat-
Ing expenses also rose from $33 $685.
Bic to s39, ,249,70l. Deductions for tax
accruals, equipment, rent, etc.. in.
creased from $4,070,628 to s4,428 1924
It appears from the report that gains
In operating revenues are continuing
while the increase in operating ex.
penses. including flood repairs anc
requirements, has been checked.
In the meantime. the B. & O. is con.
tinuing its extensive improvement pro.
gram. Plans authorizing the air-con
ditining of 81 more passenger cars viii
be well on Its way to completion OF
June !, when the reduced passenger
fares become effective.
It will give the B. & o. and its West
ern afiiliate, the Alton, 480 air-con
ditioned cars to meet the anticipated
heavy demands Of the vacation season
Trading ON D., C. Exchange.
Ianston Monotype attracted atten.
hon on the Washington exchange to-
day, with 10 shares changing hands
at 80 in four deals. After the cal
$1,000 of Chesapeake & Potomac Tele'
phone of Virginia SIS moved at lot
Seven shares of Potomac Electric Pow
er s per cent preferred were traded a
10e. Another share Of Lanston Mono
type was sold at so.
Farm Loan Loss Small.
The Federal land banks and Fed
eral intermediate credit banks art
educating the farmer not to borrow
more than he can pay, Charles R
Dunn. fiscal agent for those Fedora
institutions, said yesterday before thu
luncheon of the Philadelphia Associa.
ton of Security Statesmen.
OF $2.700,000,00o of loans, losses
Of the system have been only 0.38 pei
cent, he said.
Suffolk County, Va, will receive
bids June "a on 100000 refundine
bonds at not exceeding 3Ha per cent
dated July I, 1885, and due 1887.