Evening star., 1937-04-27
A. B. A. MEMBERS
. RISE TO 12,77O
Gain of GIG in Last Year
Brings Highest Ratio
in History,
BY EDWARD C. STONE.

past year ana 2Sl since last August,
according to word brought back by
Washington financiers attending the
Spring council meeting of the A. B.
A. at Hot Springs, Ark. The per-
centage membership of banks in the
whole country is tit, the highest
ratio in the history of the association.
Reports were made by William F.
Augustine, president of the national
bank division; Noble R. Jones, presi-
dent of the savings division; H. NJ
Chamberlain, president of the State
bank division; Theodore P. Cramer,
president of the State secretaries sec
ton; Blaine B. Coles, president of
the trust division; Wood Netherland,
chairman of the Committee on Bank
ing Studies; Robert NJ Hanes, chair
man of the Committee on Federal
Legislation; W. F. Keyser, chairman
of the Insurance Committee; William
r. Kuhns, editor of Banking; James
E. Baum, head of the protective de-
partment, and General Counsel D. ].
Needham, head of the A. B. A. legal
department, under whose direction
the A. B. A. has been investigating
postal savings, Government competi-
ton and other problems in view to
getting corrective legislation.
The State bank, national and trust
division reports stressed the progress
of these divisions in covering prob
lens of members in their respective
fields. The State divisions report
emphasized an opposition to measures
designed to put branch banking on
an interstate basis or to eliminate the
dual system of banking supervision
and control
Agent Wins National Honors.
H. F.. Gemme, general agent in
Washington of the Kansas City Life
Insurance Co., has been selected by
the home Office from its entire agency
force as the company's "all-star"
salesman in 1886. The selection based
on all-around excellence and includes
service to policyholders as well as
production of new business
Each year the Insurance Salesman.
life insurance trade journal, invites
each life insurance company to deSig-
nate the outstanding agent as the
allStar salesman for the preceding
year. The designation, therefore, is
very carefully made and considered a
distinct honor Mr.. Gemme is widely
known in insurance circles here and
has represented his company for the
last ID years.
Maryland Bank Conclave Set.
The Maryland Bankers Association
will hold it annual convention at At
lantic City on May Is and IA, Secre-
tary M. F. Reese announces. Harold
G. Moulton, president of the Brookings
Institute, Washington, will speak on
Basic Economic Trends Today" and
another speaker from Washington will
be Ben Johnson, special assistant to
the Board of Directors of the Recon-
struction Finance Corp.
The first speaker at the opening
session will be DR.. Lionel D. Edie, New
York economist, who will discuss THE
Changing Investment Problem"
He will be followed by G. Fred Berger,
treasurer of the NorristoWn-Penn
Trust Co., NorristoWn, Pa whose sub
ject will be Some of Our Present-Day
Bank Management Problems"
Howard w. Ruark, Salisbury Ma
tional Bank associate president. will
be in the chair. The largest attend
ance since pre-depression days is ex-
pected and the financiers will go to
Atlantic City on special train The
dates are so arranged that the asso-
citation members can forget high
finance part of the time and attend
the Atlantic City Horse Show, the con-
vention being held week earlier than
usual for that reason.
Speculation Ban Discussed.
President Roosevelt's letter to the
head of the Civil Service Commission
placing a ban on speculation in the
stock market by United States Gov
ernment employees was freely discussed
in local brokerage houses today.
General opinion here seems to be that
any such rule would be vary hard to
enforce, owing to the very thin line
that divides speculation and invest
ment.
Suppose a Government employe
buys a stock at 20 and it advances
to SO, 1t develops that he has fine
investment. But if he buys a stock
at so and it drops to 20, he has what
is usually termed speculation. Bro
kers declare that great many invest
ments prove to be speculationS and
many speculations eventually get into
the investment class.
Brokers do not believe that the
Presidents letter will make any ap-
preciable difference in the total
amount of stock and bond buying
among the Government employees in
Washington. Perhaps they will be a
bit more cautious in what they buy,
brokers said, commenting that cau-
ton in market operations is always
highly desirable for either traders or
investors.
GOckeler Attends Convention.
c. J. Gockeler, an official of the
Hamilton National Bank, attended the
opening convention today of the United
States Chamber of Commerce as one
of the founders. There were about
is of these charter members present
from various parts of the country. Mr..
Gockeler was very active in Board Of
Trade work before entering the bank
ing field. At present he is one Of the
leading members of the Washington
Stock Exchange and former presi-
dent of the organization.
Marshall Diggs, special assistant to
the controller of the currency On the
Board of Directors of the Federal De-
posit Insurance Corp, told the Finan-
cial Advertisers Association in Chicago
the other day that interest on postal
savings may be cut soon to a level
more in line with rates paid by most
banks on time deposits. He said the
2 per cent rate on postal savings placed
the Government in competition with
banks in some cities. He also pre-
dicted no new banking legislation at
this session of Congress.