Evening star., 1937-09-07
A. |. B. CHAPTER
TO HEAR OIL 'CONNOR
Plans Completed for AnnuaI
Educational Dinner at
Willard. TomorroW.
BY HAROLD B. ROGERS.

BY HAROLD b. ROGERS.
Plans are completed for the educa-
tional dinner at the Willard Hotel
tomorrow night, when the Washing
ton Chapter. American Institute of
Banking, will open its active year.
Controller of the Currency J. F. r.
O'Connor will be the principal speaker.
Paul j. Seltzer. chairman of the Edu-
cational Committee. will preside and
summarize the benefits of participation
in the educational work and activities
of the chapter.
William H. Laughlin, president of
Washington Chapter, will address the
group. Thomas j. Groom, president of
the District of Columbia Bankers
Association, will bring greetings of
that association. Joseph r. Fitz-
patrick, first vice president of the
chapter and chairman of the Program
Committee, will outline the extra
curriculum plans for the year. Ray
mond B. Dickey, dean of the faculty,
will deliver his message to the assembly.
John M. Christie, chief consul will
give his instructions and suggestions
to the Board of Consuls for spreading
chapter information throughout the
banks. George B. Earnshaw, chairman
of the Membership Committee, will
appeal to the committee for concen-
trated efforts To enlarge the member
ship during the coming year.
The attendance of about one hun
dred persons will include guests, the
faculty, chapter officers, the Board of
Governors, the Educational Committee.
the Board of Consuls, the Membership
Committee and the committee chair
men.
Treasury Offers New Notes.
The Richmond Reserve Bank an
nounced today the offering through
the Reserve banks of two series of
United States Treasury notes, both in
exchange for 314 per cent Treasury
notes of series A-1937, of which s817.-
483,500 mature on September is. Both
series will be dated and bear interest
from September Is.
One series will bear interest at the
rate of Il per cent and will mature
in is months, on December is, 1898.
The other will bear interest at the
rate of per cent and will mature in
five years, September Is, 1912.
Exchanges will be made par for par
and the offering will be limited to the
amount of maturing notes rendered
and accepted in exchange therefor.
Cash subscriptions will not be re-
ceived.
Fulton to Address Traders.
Wallace H. Fulton, director, Invest
ment Bankers Conference, Inc, of
Washington, will deliver a special ad-
dress at the fourth annual convention
of the National Security Traders As
soclation, which opens at Atlantic
City tomorrow. He will speak at an
open forum in the afternoon at Hotel
Traymore. Frank Weeden, San Fran
cisco, will preside at the four-day ses-
siony during which problems peculiar
to security traders will be fully dis
cussed.
Commissions are expected to come
IN for good deal of consideration as
traders give their views on the recent
move by some New York Stock Ex-
change members to increase rates.
There Is also likely to be more or less
talk about margin requirements, as
many traders consider that present
margins are higher than safety and
conservatism require.
Market Action Disappointing.
With the vacation season over. new
races appeared in Washington's brok-
erage offices today, both traders and
investors being anxious to see what
the market would do after Labor
day"
The days early action was disap-
pointing as prices opened lower and
continued on the downtrend. The
majority of stock market followers
still expect Fall rise, although opin
Ion on the immediate action of the
market Is very much divided. Evi-
IDENTITY the so-called big traders" are
not yet back in the market after the
Summer vacations.
National Bank Deposits Gain.
Controller of the Currency O'Con-
nor reported today that total deposits
for all national banks on June 30
1897. were s26, 5000, an increase
of s250,803 900 since March 81 and
1868, 100000 in the year since June.
1885, but more than s84O 900 900
lower than on December 81, 1885.
Loans and discounts on June 90
1897. totaled ss,so7, 1872, 900, up more
than a billion during the year. Hold
ngs Of Government bonds were off
2.T per cent during the year. Re-
sources of all national banks on June
80, 1887. were s30,337. OH 900. COM
pared with s29, ,7O2 ,s39 900 a year ago
Today's Trading on Exchange.
City & Suburban IS opened trad
ing on the Washington Stock Exchange
today, with 81 900 changing owner
ship at II. The new Washington Gas
Light preferred stock was in best de-
mand. the issue opening at 994 and
closing at 1912. Mergenthaler Limo
type registered a modest sale at 381b
Other bid and asked prices were prac-