Evening star., 1937-05-13

,.1 1.,,. VIM. II. Laughin.
position. For many of the other posi-
tons there are two candidates in the
field and the election promises to be
highly interesting and in some cases
very close. The balloting was to be
completed by o'clock.
W. H. Laughlin, the next president,
will succeed Paul j. Seltzer of the
American Security g. Trust Co., who
has served the chapter most efficiently
during the last year. Mr. Laughlin
has been with the Washington Loan
&, Trust Co. since 1924 and men,
Der Of Washington Chapter since
1925, receiving a standard certificate
in 1928 and an investment certificate
in 1929. He has held the Offices of
consul. chief consul, treasurer. sec
ond and first vice presidents and at
tended national conventions at Chi
cago Omaha and Seattle
Campbell Again Heads Bank.
J. Frank Campbell was reelected
president of the AnacoStia Bank yes
terday afternoon following the annual
meeting of the stockholders and cleo
ton of directors. He has been head
of the bank since 1884.
W. L. Koontz was reelected vice
president and cashier, L. w. Thomp-
son, vice president, and Allen H.
Cannon, Carl c. Smuck and w. w.
Young. assistant cashiers. The di-
rectors elected included.
= Er,,,l, Co,,,ho11 ~ poh,-+ n
Cooper, Frank M. Dent DR.. Vincent
Guild, George F. King, w. L. Koontz
George S. Maier, j. R. Pyles, Thomas
J. Read, Elmer M. Smith, George B.
Stevens, L. w Thompson, Robert
Thompson, H. c. Wooley and Irving
Yockelson.
Employment Outlook Bright.
The Federal Reserve Bank of Rich
mond reports that favorable weather
for outside work stimulated seasonal
increases in employment in several
fields in the fifth reserve district in
March and the first three weeks in
April, but industrial work in scattered
localities was retarded by strikes and
there is some fear of further labor
trouble, especially in textile plants
which have been operating at top
speed
Construction work continues to ex-
pand, particularly residential work
and projects financed by private capi-
tai. Unless strikes develop over a
wide front, the outlook for employ
ment during the rest of the year now
hot OF OF tiY,on
since the depression began.
Crowley Raps Speculation.
Addressing the Missouri State
Bankers Association yesterday, Leo T.
Crowley, chairman of the Federal
Deposit Insurance Corp, again took
occasion to warn bankers against
speculation in lowgrade bonds. When
banks are unable to make profits on
other operations they are tempted
to go into speculative loans and in
vestments and eventually the Federal
Insurance Corp will have to pay the
freight he said.
Il note with alarm that many banks
In their search for earnings have
turned to a practice which is poten-
TALLY monkey wrench held over the
smoothly running machine of banking
recovery" he added. He believes that
If the demand for bank credit in COM
mercial and industrial loans increases
substantially, there may be reaction
in bonds. In such case the low
grade bonds would suffer.
Mr.. Crowley also expressed the wish
that bank dividends become the
order of the day." but warned that
they should not be declared unless
possible condition.
Land Bank Bonds Called.
The Potomac Joint Stock Land
Bank of Alexandria has given notice
that the banks per cent bonds, both
coupon and registered, dated June l,
1927, callable June l, 1887, and due
June l, 1857. have been called for
redemption on June l, next. The
bonds have been called under regula-
tions prescribed by the Federal Credit
Administration and are payable at par
on and after June l at the Riggs Ma
tional Bank, this city. All interest
ceases after that date. The president
OF the Potomac Joint Stock Land
Bank is Donald S. Mace.
Washington Chapter American In
stitute of Banking, celebrated movie
night" in the board room of the Amer
lean Security & Trust Co. last eve
ming. Edward c. Foreman member,
presented moving pictures of Yosemite,
Glacier and Yellowstone National
Parks, as well as pictures of the 1895
national A. I. B. convention held here
and pictures of the last three annual
banquets. The chapter will have its
Spring dance tomorrow evening.
Postal Savings on Increase.
Postal Savings deposits continued
their steady increase in March, ac-
cording to tables furnished the Fed
eral Reserve Board. There was an
increase Of $55,000,0O0 between March,
1895, and March, 1897, the report
shows. For March of this year new
high record in deposits was recorded,
the gain amounting to $1,271 900, an
Increase over February of $1,000, 900.
Depositor balances in the banks have
made steady gains since 1890, the
Reserve Board says.
Albert w. Atwood, financial writer,
told the District of Columbia Chap
ter, Chartered Life Underwriters, that
the individual investor has not yet
emerged from the eclipse of 1929.
While he is out of the Cyclone Gel
lar" his activities are now being
largely directed toward income fea-
lures of investment such as bank saw
lngs, life insurance and annuities, he
added.
Heard in Financial District.
Arthur j. Linn, controller of the
Hamilton National Bank, will address
the Midwestern Conference of Bank
Auditors and Controllers in Chicago
tomorrow. He is first vice president
A