Evening star., 1937-02-20
BANKERS EXPECT
931 At BANQUET
Attendance of Chapter and
Guests Tonight Will Break
All Records.
BY EDWARD C. STONE.

BIZ EDWAkD T.. STONE.
Ofncials of Washington Chapter,
American Institute of Banking, an
nounced today that exactly 931 men,
bers and guests will attend the
thirty-second annual banquet this
evening at the willard Hotel, a record
attendance.
Out-of-town guests we're arriving to-
day, invitations having been accepted
by some 200 financiers in Baltimore,
Philadelphia, New York and other
cities. Some of the Washington banks
are entertaining more guests than
They have ever had at any previous
dinner.
Paul j.. Seltzer, chapter president,
will preside, with Controller Of the
Currency ]. F. T. OConnor as the
principal speaker Philip A. Benson,
second vice president of the American
Bankers Association, will also speak
He is president Of the Dime Savings
Bank, Brooklyn, and one of the best
known savings bank men in the
country.
Felix Montana, member Of the
Executive Council of the American In
stitute Of Banking, will be the national
oficer representing the organization,
bringing greetings from the parent
organization. An elaborate program
will follow the speeches.
Among chairmen of important COM
rnittees who have arranged the dinner
are Frank M. Perley, j. Earle Nc
Geary, James c. Dulin, jr.; Edward
w. Blaiklock, and Robert H. Lacey
Exchange Closed on Monday.
The Board of Governors of the
Washington Stock Exchange have
voted to omit the regular Monday ses-
sion on account of Washington's
birthday anniversary, and also follow
ing the example of the New York
Stock Exchange. All the banks in the
Capital will also be closed.
Trading on the Washington ex-
change during the past week has been
highly satisfactory both as to volume
and prices. Riggs National Bank
common, selling at 353, scored the
largest advance over the last previous
sale. The bid and offered prices on
other bank stocks remain strong
Washington Railway & Electric pre-
ferred stock has been selling at Ill,
up half a point from other recent
sales. Capital Transit sales have been
around 1914, fractionally lower than
some Of the sales earlier in the year
Capital Traction SIS have been
among the leading bonds, changing
ownership at the strong price of 96,
Washington Gas IS have been selling
at l24 and 1882 in recent markets.
Potomac Electric Power 314s have
been more active lately, coming out
at 1o41a.
Both the Potomac Electric Power
preferred stocks and Washington Rail-
way & Electric common and preferred
are being quoted ex-dividend, the
usual dividends on these issues being
due in a few days.
Writer Urges Fuller Reports.
Alden Winthrop, in a new book en-
titled, Are You Stockholder?", pub
? lished by Covici. Friede, Inc, New
York, urges corporations to make their
reports much more complete and
easier to understand. 1T is vital
question today" he says, whether
corporations should continue to be run
for the benefit of management, con-
dition that has arisen from the wide
dispersion of ownership of small lots
Of stock, and which has resulted in
making self-perpetuation at high sal
aries the prime aim of management"
Profits are sometimes shown in
annual reports when there are none,
by writing up and down assets, thus
misleading the stockholders, he states. |
adding that some corporations paying
the highest salaries, have not paid any |
dividends on common stock for years |
His views are based on an analysis Of |
q host Of corporation reports, the book |
being of interest to both large and
small investors.
Woman Guides Banking Group.
The safe deposit section of the Dis
trict of Columbia Bankers Association |
Is in charge of a woman for the first |
time, Helen r. Sharpe of the Bank of |
Commerce & Savings. The office of |
chairman Is vacant on account OF the |
resignation of John F. Hillyard from |
the National Bank of Washington, who |
was this years section chairman. Mr.. |
Hillyard resigned to enter the private |
practice of law.
Upon the vice chairman. Helen |
Sharpe, fell the duty of carrying on |
the work of the section. Deeply inter- |
ested in the problems facing this par |
ticular banking group, she has already
been most successful in keeping en-
thusiasm at high pitch. AS it is
customary to elevate the vice chairman
TO the Craftsmanship, she will no doubt |
be accorded this honor at the annual
meeting in June. At the Bank of Com
merce e. Savings she has been secre-
tary to Vice President Thomas J.
Groom ever since he became connected |
with the institution seven years ago.
Members of the District of Columbia
Bankers Association held their weekly
luncheon at the Willard Hotel yester-
day It was announced that the Of
ficers of the association and the chair
men of the various convention COM
nlittees, would meet next Wednesday
evening at the home of Acting Presi-
dent Thomas J. Groom at the West
chester, to make further plans for the
White Sulphur meeting.
Cleaned in Financial District.
Sale Of United States savings bonds
since March l, 1885, when these bonds
were made available, to February l,
1887. has reached a total of $685.
7l8,2l2, maturity value. January sales
were in excess of $13o,O00,000 matur-
-ity value, more than twice the sales
OF the corresponding month last year.
Rising demand in rural districts for
higher-priced, better-quality goods,
featured rnail-order sales in 1895, and
the trend continues into 1887, while
In the cities the call for costlier tner-
chandise ran 30 far beyond anticipa-
tions, that many stores actually lost
49, II