Evening star., 1937-04-16

the visitors, the response being made
by William E. Westman, Webster &
Atlas National Bank, Boston. The first
address, The Bankers Problem" will
be presented by Robert O. Bonnell,
president, Morris Plan Bank, of Balti-
more.
Educational Developments in Bank
Accounting and Auditing" is the topic
assigned to Ralph Endicott, assistant
treasurer, Washington Loan q Trust
Co., who is at present teaching class
In bank accounting and auditing in
Washington Chapter, American IN
stitute of Banking. He has also taken
deep interest in the work of the
auditors section of the District
Bankers Association, which is spon-
soring the national convention.
John D. Hospelhorn, deputy bank
commissioner of Maryland is also
among the Friday morning speakers.
The Bank Commissioner Problems"
being his subject. The luncheon guest
speaker will be T. R. McKeldin, a
Baltimore attorney. Three speakers
will address the afternoon session,
John Driscoll, Philadelphia, on Com
parative Costs and Operating Eff
ciency"; James E. Potts, Boston, on
Branch Bank Accounting and Con-
troll" and John A. Reid, Boston, Cor
relating Trust Audits With Examina-
tions."
Two roundtable conferences are
slated for Friday evening, one con-
Quoted by Arthur K. Schulz, Chase
National Bank, and the other by w.
T. Vandoren, vice president and
cashier, Liberty National Bank, this
city. On Saturday Chester w. Hoyt,
Albany, will talk on Relationship
Between Directors, President and
Auditor" l.. r. Pennington, special
agent accountant, Bureau of Investi-
cation, Department of Justice, will
discuss Bank Frauds" In the after
noon the delegates will visit the De-
partment of Justice for special tour.
Strickland Gillian is to be POSTMASTER
at the informal dinner Saturday night
and the guest speaker, Edward Stone,
chief, Community Organization and
Maintenance Section, Management
Division, Resettlement Administra-
ton.
Keane Heads Enterprise Loan.
Michael A. Keane was reelected
president of the Enterprise Building
Association at the forty-fifth annual
meeting held this week. Fred Kraus
was elected vice president Martin A.
Cook, secretary; James E. Connolly,
treasurer, and Francis j. Hayes assist
ant secretary.
George I. Berger, Bernard R. Ed
wards, Maurice Fitzgerald, c. F. Glib
son, P. F. Hannah, Ralph A. judd Ed
ward T. Kehoe, ST., and Frank J.
Torrans were reelected directors.
The association, organized in 1892,
reported one of its best business years.
A dividend of per cent was paid on
all shares during the last year. Presi-
dent Keane stated.
Dealers Push Self Regulation.
Dealers connected with the In
vestment Bankers Conference, ma
tional organization having LILO mem
bers and headquarters in Washington,
have announced tentative approval of
q set of rules covering fair practices in
the over-the-c counter investment bus
iness. The new rules are intended to
supplement regulation by the Securi-
ties and Exchange Commission.
Standards were suggested concern
ing information and advice to Gus
toners, commissions and other
charges and the use of money to in
f1uence transactions or publicity.
Means for hearing complaints against
members and imposing penalties for
violations of the rules If adopted, also
were proposed.
James M. Lands, commission
chairman, in statement compli-
menting the conference, said: The
field for effective work of this char
acter designed to elevate standards
of business conduct, to achieve self
discipline and to bring about a gen.
eral recognition of the grave respon-
sibilities of those engaged in the in
vestment banking and securities bus
.ness is extensive. I shall follow this
phase Of the work of the conference
With keen interest"
Heard in Financial District.
Twenty class I railroads in the
Southern district had estimated oper-
ating revenues in March of $33, ,550,4
compared with S27,694,588 in March,
1886. Freight revenues amounted to
$27935,512 compared with $22,896,-
1856; passenger revenues, $2,993,317,
against $2,48l,743.
l. j. Roberts, assistant cashier of
the Riggs National Bank, and Miss
Catherine M. Krieg, also of Riggs, are
In the Hall of Fame" i'll this months
bulletin issued by the American In
stitute of Banking. The magazine
conducts a very elaborate questions
column and each month announces
those at the top of the list.
Southern Bell Telephone & Tele-
graph Co. Of Atlanta has filed a reg
istration statement under the securi-
ties act Of 1888 covering $45,OO00 900
OF 25-year 81 per cent debentures due
April l, 1882, of which s42, 100000 are
to be offered publicly.
Swift & Co. call for redemption
May Is at principal and interest
$1,000,000 of first mortgage sinking
fund 334 per cent bonds, due May Is,
1850.
Today's Trading on Exchange.
Trading opened on the Washington
Stock Exchange today with IS con-
secutive 10-share lot sales in Potomac
Electric Power 5la per cent preferred
stock at 112. Sales totaling So shares
were recorded in Washington Railway
& Electric preferred at 109 Capital
Transit opened at IA and closed
at 1917
On the Boston Exchange this week
Mergenthaler Linotype sold at 48A, a
gain Of az points. Boston is where
most Of the recent sales in this stock
originated.