Evening star., 1937-06-01

G. HoSkinson and
Ord PreSton-Were moved up the
ladder as anticipated. From a news
standpoint the election of A. NJ Nc
Lachlen was the most interesting. as
this was really the selection of the
associations president four years
hence.
Mr.. McLachlen is an official of the
McLachlen Banking Corp, has been
in the banking business for years and
very active in association work. He is
a brother of Lanier P. McLachlen.
president of the McLachlen bank and
also former president of the District
Bankers Association, one of the young
est presidents the association ever had
Albert S. Galley, vice president of
the Lincoln National Bank, was hon
ored for the twenty-seventh time as
treasurer. The Auditing Committee
which went over his books made spe-
cial reference in its report to his 're-
markable service to the association" :"
For more than quarter of a century
Mr.. Galley has kept the organizations
financial affairs in fine shape Owing
to his special ability, or to some other
reason, he always reports a substantial
balance at the end of the year.
Many Bank Presidents Present
There were many Washington bank
presidents at the convention, includ-
ing Francis G. Addison, jr. Security
Savings & Commercial Bank; Willard
por
ence F. Burton, City Bank; Robert V.
Fleming, Riggs National; E. c. Gra-
ham, Hamilton National: Ord Pres
ton. United Trust Co.: John R. Reilly,
Second National, and John R. Waller
international Bank, Jackson place.
Ernest E. Herrell and L. Burt Nye
were on deck as usual. They hold the
distinction of having attended all 19
Of the conventions. So far as can be
recalled. Francis G. Addison was the
only other representative there this
year who has not missed a single one
Of these gatherings.
The railroad arrangements were
6galn In charge of James B. Edmunds,
che OF the finest passenger agents to
he found anywhere. Making much Of
the trip down and back in the daytime
proved highly satisfactory to the dele
gates and guests.
The golf trophy offered many years
ego by the late I. A. Pop" Fleming,
while he was financial editor of The
Etar, was won this year by Luther E.
Echreiner Of the Dupont branch of the
Hamilton National Bank. There is
always very wide interest in this tour
hament.
Bankers Cheerful on Outlook.
The general tone of the speeches at
the convention was cheerful. DR., Will
liam analyzed a host of economic
problems now facing this country.
But l am not ready to sell the
United States short" he said at the
end OF his address. His talk caused
very wide and favorable comment aft
erward.
Tom K. Smith spent more time tell
ing what the American Bankers AS
soclation is doing for its members
than to any discussion of the business
situation. He did, however, have
quite little to say about imitation
Tears which are too often heard.
Il have confidence in the views of
those economists who hold that recent
legislation has given Government au-
thorities adequate powers to control
The situation, provided the necessary
steps are taken. 1t seems to me that
fhe danger Is not that the regulatory
powers do not exist, but, rather, that
IN untnformed public might prevent
these powers from being used at the
proper time. The answer to that, of
course, Is public education" he as
Scrted.
The A. B. A. chief made a special
Grip from st. Louis to address the
Capital bankers and his visit was
much appreciated.
The informal address of Gov. Mar
finer S. Eccles of the Federal Reserve
System indicated unusual confidence
61 the future. AS he has said many
Emes, he believes that efforts must
constantly be made to prevent ex-
IRENE swings upward or downward
And that in the attempt to keep eco
nomlc, banking and business condi-
mons on fairly stable levels. the Gov
srnment will always have to take a
more or less active part. This. he be-
heves, can and will be done in the fu-
cure IN a way to prevent the re-occur-
rance OF 1929 conditions.
Reports Showed Busy Year.
The special reports of the auditors,
safe deposit and fiduciaries sections of
the bankers association showed an
especially busy years work.
The report of the Advertising Com
hittee, E. H. Thomson of the Wash
mgton Loan & Trust Co., chairman,
reflected the steady recovery which
has taken place in Washington in the
past year, especially among wage
Farmers and Government employees
The part of the report referring to
Christmas savings stated that 82,85e
members were enrolled this year, an
increase OF 1851 over the previous
year.
The total subscribed is $7,343O50
(which not only exceeded the l93s
christmas clubs by $1,084,6lO, but
hlso showed an average saving PEI
capita Of sS9, which is 81 higher thar
The average amount put into Christ.
mas savings clubs a year ago.
At the family dinner" j. Thilmar
Hendrick paid special tribute to tht
tate Karl w. Corby, who was the heac
of the association at the time of hi!
death. 1t is customary for the asso.
citation to give the retiring president
b watch. AS memorial to Karl ane
Tn appreciation of the planning which
Mrs. Corby did for the convention, The
association presented her with beau.
tiful lady's watch. Although she wa:
not present to receive it in person
, message was read expressing hel
deep appreciation of the gift.
Large government expenditures con-