Evening star., 1937-06-22

Bankers of the future must be
7tuned to the times, thoroughly
rained for the job, ready to help the
government keep up banking stand
rds, and build up managerial poll
les which will benefit the entire
)anking system. Bankers must have
more than one particular institution
n mind" he said.
He had great hope, he said, that
he American Bankers Association,
through its sponsorship of the Amer
can Institute of Banking and the
graduate School of Banking had
stablished institutions which would
lelp develop bankers who will meet
hese obligations, not because of the
equirementS imposed by law, but by
eason of character and intelligent
understanding of the principles and
ne responsibilities of the banking
profession.
The school was inaugurated in 1885
md this year will graduate its first
lass. Diplomas will be awarded at
aelCIScS Oll July &, W 100 SIdOudIcS
ABILITIES of the school are limited to
bout 900, and the present registrants
one from IS States, the District Of
Columbia and Puerto Rico. The dele
alton from Washington numbers 13,
our of whom will graduate this year.
Gas Stock Issue Due Tomorrow.
1t was expected in the financial dis
"lct today that the Washington Gas
light Co.'S new issue of 10000 shares
$3.50 cumulative convertible pre-
,rred stock would be approved by the
ecurities and Exchange Commission
lte this afternoon.
In that case the approval will be-
Ome effective tomorrow and the stock
placed on sale by some % WASH
lgton investment houses at once. The
eW stock will be sold to the public
sos share.
1t looked today as if the new gas
sue would be considerably oversub-
-ribed, as the various investment
ouses report a lively demand for the
.ock These firms have been sound
x OuG UllCll AlotOlllSio Aoi SStiAS NAAAAS
I'd have found most satisfactory
2sponse to investment inquiries.
Investment dealers do not believe
ley will have enough stock to fill all
leir orders After deducting the ex-
enses of distributing the new stock,
le Washington Gas Light Co. will
ave proceeds amounting to 81 ,87O,OOO
will be the most important local
sue placed on the market since the
otomac Electric Power 34 per cent
onds we're put out about a year ago.
Imports and Exports Rise.
An analysis of foreign trade made
" the United States Chamber OF
commerce. discloses interesting facts
l the movement of exports and i'm
orts.
Imports, for the first quarter, with
= total of S785, ,O0O, 900, or 38 per cent
lcrease. over last year, jumped faster
nan exports, which showed a S7ll,-
10000 total, or "a per cent increase.
The political uncertainties and trade
astrictionS in Europe show up IN
rop in the European share of our eX-
orts. and in the drift of funds to the
United States for investment.
The chamber announced today that
he tWenty-siXth annual meeting OF
he organization will be held in WASH
ngton May 2 to 5, 1888, these dates
laving been approved by the directors.
More than 100 delegates from this
rountrv will attend the ninth biennial
difference of the International Cham-
yer OF Commerce in Berlin June 28 to
Iulv 3. About 1000 delegates, rep
esenting most of the countries OF the
world, will be present.
Safe Deposit Election Set.
The safe deposit section of the Dis
trict Bankers Association will hold
he annual election tomorrow evening
the board room of the American
Security g. Trust Co., 1t was an
nounced today.
The Nominating Committee has an
nounced selection for the executive
council, the list of nominees including
Mrs. Helen R. Sharpe, P, G. Brady,
Charles K. West, Charles W. Haan,
T. Eugene Elgin, Carl c. Smuck, Miss
Dorothy Weaver, Guy D. Cowl, Miss
Eva E. Kicker, and John M. Boteler.
The chairman of the section and
all other officers, including these can
didates for the council, will be elected
at tomorrow's meeting. Mrs. Sharpe,
the vice chairman this year, will pre-
side.
Reports will also be presented. The
past year was one of the most active
the safe deposit section of the asso-
citation ever had, as it included enter
tanning national convention.
1,000-Share Sale on Exchange.
A sale of 1000 shares of Capital
Transit stock was recorded on the
Washington Stock Exchange today at
10. 1t was by far the largest sale
made in any stock on the exchange in
several years. In fact, it was one of
the largest in number of shares ever
recorded
This is the same price at which
many other smaller sales have recent
ly been registered. The low for the
year in the stock is 9k2 and the high
l6. The big transfer comes at a time
the Capital Transit Co. is in the lime
Light because Of the request for an in
crease in fares, which is now being
heard before the Public Utilities Com
mission.
The 1,000-share transit sale over
shadowed other business on the ex-
change. A single share of Real Estate
Title Co. sold at ITO. Washington
Gas Light moved at 78 and 7712.
Two 10-share sales of Capital Transit
were also listed, at 10.
Bank of Bethesda, Bank of Com
merce & Savings, National Union
Fire Insurance and Lincoln National
Bank stocks have been added to the
dividend list Others are Peoples
Drug common and Real Estate g.
Guaranty preferred.