Evening star., 1937-06-08

rence of it's efforts to merit the good
will Of the public. He emphasized the
Vord merit" because public con1l-
aence cannot be bought but must be
earned. It cannot be attained quickly
Or by artificial methods. he asserted.
In recognizing these facts, he added.
hanks have Jagged far behind pubic
utility and merchandising organlza-
tions, which for many years have en-
phasized the value OF developing
scientific methods for handling their
public relations problems.
: The bitter experience growing out
Of the depression aroused the banking
profession to the necessity of dispell-
hng public misunderstanding OF the
proper functions Of banks and OF their
methods and policies, Mr.. Roberts said.
In outlining the development of
practical course of procedure, he de-
picted most fully the methods used by
the Riggs Bank in the last two or
three years in arousing among the per-
sonnel a sense of the importance OF
the problem. and gave an outline OF
the great number of ways by which
= new deal in public relations has al
ready been brought about by this
bank.
Mr.. Roberts said the meetings OF
the entire staff to hear talks by OIL
GERS and other experts have proved so
beneficial that the present plan will
be made permanent.
Bankers Get Lively Greeting.
The Washington delegation at the
American Institute Convention got an
unexpected greeting on arrival at st.
Paul. There is a strike on in the
hotel where they are staying. Means
some long walk-ups, very irregular
meals, If any, and lot of extra ex-
element they had not planned for
when they made the reservations.
They found large number OF pickets
parading in front of the hotel huge
placards stating that the hotel was
unfair to organized labor. The dele
gates are probably finding 1t bit diff
ncult to concentrate on banking and
high finance.
Oversubscribed Six Times.
Torecasting that the Treasury's
$500, 100000 note offering would be
oversubscribed six times, Secretary
Morgenthau announced last night that
books on the issue had been closed.
Subscriptions placed In the mail be-
fore midnight will be accepted.
Through pm. yesterday the sub
settptions on the $400,00O 900 issue of
~ per cent notes, due September Is,
1899, aggregated $1,788 100000 and
subscriptions on the $40o, 900 offer
ing Of lA per cent notes, due March
Is, 1912, aggregated s1,s43 100000.
eecretary Morgenthau stated.
= Price Action Significant.
"A significant feature of the stock
market in the past month has been
tho comparative steadi11ess of prices
during period Of adverse news de-
velopments.
Price steadiness in the face of bad
hews Is sign Of a technically strong
stock market, In the opinion of
Brookmire Economic Service. After
> reaction, such as occurred in March
and April, apparent symptoms that
stocks are forming base for a re-
newed advance are CD resistance to
bed news, and CD reduced volume of
Trading whi,h reflects slackening of
Selling pressure. Both of these tend
rLcies have been in evidence for
humber Of weeks"
Capital Transit Stronger.
Capital Transit stock sold to the
extent Of 180 shares on the Washing
bon Stock Exchange today at II. This
ls the best price for some weeks. 1t
closed with 101a bid and 11Az asked.
washington Railway & Electric pre-
terred again led the market in volume
Of trading, about so shares changing
hands at 11014, same as yesterdays
close. Two 100-Share lots of Real
Estate Mortgage & Guaranty preferred
moved at 5H and so more shares
at 5h.
Capital Traction IS were in demand
Ut SO, two $1,000 transfers being re-
corded at that figure.
Heard in Financial District.
Both President Roosevelt and Secre-
tary Morgenthau In private conversa-
ti0nS with visitors have been stating
repeatedly the intention OF this Gov
ernment to hold its gold price at s35
per ounce despite contrary rumors, &C
cording to persons who have talked
with them.
State and municipal financing for
May aggregated $46,172,286 as COM
pared with $96,54l,5 ,554 in May, 1886,
according to the Daily Bond Buyer.
The total for the first five months
Of 1887 Is $504,717,234, as compared
with $516.656,o75 for the same period
last year.