Evening star., 1937-09-15


Ernest j. Clark, chairman of the
board of the American College of
Life Underwriters, presented diplo-
mas, comforting the degree of char
tered life underwater upon four can
didates, who completed in 1887 all
examinations and other requirements
of the American College They were
John B. Cleland, jr., Penn Mutual
Life Insurance Co.; Richard w. Girls
void, manager, Guardian Life Insur-
snce Co.. w. Ford Harvey, Penn Mu-
tual Life Insurance Co., and Bernard
L. Wilmer, general agent, State Mu-
tual Life Insurance Co.
Zirpel New Fiduciaries Head.
Irving Zirpel, secretary of the Un-
Ion Trust Co., has been elected chair
man of the fiduciaries section of the
District Bankers Association, it was
announced today. j. Eliot Moran, an
assistant trust officer of the American
Security g. Trust Co., was made vice
chairman and Bernard L. Amiss, as
sistant trust officer, Washington Loan
g. Trust Co., was elected secretary.
These officers, together with Harold
A. Kertz, assistant trust officer, Ma
tional Metropolitan Bank, and Henry
K. Dierkoph, assistant trust officer,
Riggs National, constitute the ex-
ecutive council.
The section anticipates a busy year
Mr.. zirpel, the new chairman. has
been very active in the section and
has been with the Union Trust Co.
for many years.
Babson Sees Business Rise.
Roger w. Babson, statistician and
economist, promised" improvement
in general business this Fall, in q
Boston address yesterday. "A careful
study of business cross-currents shows
furthermore, that for the next year
or two at least the favorable factors
far outweigh the unfavorable factors,
he said.
General business" said Babson, SIS
bound to be better this Fall than las
Fall. With our tremendous crops
nothing can stop it. Farmers, wage
workers and stockholders will all have
more money to spend. I am forecast
ing no stock boom; but I do promise
business improvement.
Bond Exchanges Completed.
The Treasury announces thai
holders of s775.643, 700 out of s817,-
45S,500 worth of 3l4 per cent five-yeal
Treasury notes maturing today have
accepted the Treasury's offer to ex-
change Ia and 2 per cent notes fol
the old securities.
Under the exchange the Treasury
will issue s433, ,507 300 worth of IL
per cent notes Of series 3-l938 anc
s342,l35,800 of 2 per cent notes o.
series B-l942.
Unexchanged notes maturing today
will be redeemed in cash.
Virginia Bankers in Session.
The thirty-flrst annual meeting O
Group 5 Of the Virginia Bankers AS,
sociation was held September IL a
Mountain Lake. Va. Keynote of tn,
one-day meeting was the determined
opposition voiced by speakers to inter
state branch banking. Among thos
speakers were NJ. z. Bristow. Stat
commissioner of insurance and bank
ing, and G. c. Mccall. cashier of tn
First National Bank OF Norton, Va
President Alexander F. Ryland OF tn
Virginia Bankers Association also ad
dressed the group.
Heard in Financial district
Charles r. Gay, president of tn
New York Stock Exchange. will ad
dress the American Institute of Ac
countants at the 50th anniversar
dinner in New York October 81.
I. ]. Roberts. assistant cashier of tn
Riggs National Bank, Is passing hi
vacation at Provincetown and othe
places on Cape Cod.
Outside Of labor difficulties, tn
small volume of corporate financin
and tagging construction are seen /
Col. Ayres as the only two "importar
immediate sets of adverse condition
in our business situation" He ais
classes this years business as "rath
remarkable" in comparison TO last yea
when the veterans bonus money ";
being spent.
Today's Trading on Exchange.
Two $1,000 transactions in Wasl
tngton Gas SIS, 1858, at los, we
registered on the Washington e
change today. Capital Traction
j moved at 81 for a $500 bond.
4 Potomac Electric Power per ce
a r11l
cent preferred at 1llh. both sm,