Evening star., 1937-05-14
MARYLAND BANK
>CONCLAVE OPENS
More Than 300 Members of
State Association Meet
at Atlantic City.
BY EDWARD C. STONE.


More than 300 members and their
families are attending the Maryland
Bankers Associations forty second an
nual convention now in session at At
lantic City, according to dispatches
from the New Jersey resort, the at
tendance being the largest since pre-
depression days. The association
president, Howard H. Ruark, Sails
bury National Bank, is presiding.
Howard G. Moulton, president OF
the Brookings Institute, Washington,
was to open todays program with an
address on Basic Economic Trends
To-day" Another speaker scheduled
for today was Ben Johnson, special
assistant to the board of directors of
the Reconstruction Finance Corp,
Washington.
DR.. Lionel D. Edie, economist, ad-
dressed the convention yesterday on
The Ever-Changing Investment
Problem" Bank management came
in for major attention and the rest
of the program was given to official
end special committee reports.
The convention ends tonight with
the election of officers. Details of the
meeting being held at the Traymore
Hotel were arranged by M F. Reese,
secretary of the association and man
,ager of the Baltimore Clearing House
Association.
Laughlin New Institute Head.
William H. Laughlm of the Wash
lngton Loan g. Trust Co. was elected
president of Washington Chapter,
American Institute of Banking, at the
annual election, which was concluded
Hast evening. He succeeds Paul j.
6eltzer.
Other officers elected were Joseph
r. Fitzpatrick, first vice president;
Francis E. Robey, second vice presi-
dent; Margaret P. Hayden, secretary;
Edward M. Blaiklock, treasurer; Fran
CTS E. Nagel, assistant secretary; John
M. Christie, chief counsel.
Elected to the Board of Governors
we're Aubrey o. Dooley, Robert H.
Lacey, T. Hunton Leith, Richard A.
morris, Stuart S. Ogilvie and Frank
M. Perley. With one exception they
are former presidents of the chapter
and all six have rendered valuable
Service to the institute in other ways.
1t was an interesting election, al
though some of the contests were not
aas close as had been predicted The
new officers will be installed on May
"a and assume their duties June l.
Insurance Week Plans Changed.
1t was announced in the financial
district today that plans for "Insur-
Rnce week" have been changed and
the members of the District Under
writer's Association will have a lunch
con at the Willard Hotel next Monday,
starting at 80, instead of the break
fast previously announced. National
Life Insurance week will run from May
II to May % in 800 cities where the
national association has 10000 active
members. The program this year is
the most elaborate yet attempted.
The Washington plans call for an
elaborate insurance exhibit at the De-
partment of Commerce. Agents ex-
pect to do a lot of educational work
among present policy holders in seeing
1t their insurance needs are being COW
cred in the best possible way. At
the same time they naturally expect to
write large amount of new insurance
during the drive.
Strikes End Pleases Brokers.
One of the big reasons for the weak
hess in the New York stock market
brokers in the financial district say, is
the fact that thousands of accounts
are frozen" as the quotations are
now far below the prices at which a
great many stocks were bought. Hold
ers can't sell without taking quite
heavy losses and they have little money
with which to buy other stocks. This
situation has an important effect on
the daily volume of trading.
Washington brokers considered to-
days settlement Of the steel strike in
Pittsburgh as an important factor on
the brighter side of the picture The
drop in commodity prices had great
deal to do with the recent slump in
quotations, as commodities always
play vital role in stock market quo
tations.
The opinion was expressed in the
financial district today that the next
real move in commodities should be
upward, as commodity demand is still
at high point.
Auto Financing Increasing.