Evening star., 1938-03-21
MORRIS PLAN BANK
CHIEFS MEET HERE
Executive Committee Acting
for 81 Institutions in
80 States.
By EDWARD c. STONE.

BY EDWARD c. STONE.
The executive committee of the
Morris Plan Bankers National Asso-
citation opened the spring meeting at
national headquarters in the Washing
ton Building here today, it was an
nounced by Secretary Joseph E. Birrie
Activities of the Morris Plan Banks
throughout the country are CO.
ordinated through this organization.
Ninety-seven Morris Plan Banks and
companies are now operating in 1870
cities in 80 States, Secretary Birnie
added. Those attending today's ses-
sions of the executive committee in
cluded:
Ralph w. Pitman, president of the
association and of the Morris Plan
Bank of Philadelphia; James R. Fain,
vice president of the association and
president of the Morris Plan Bank of
Winston n-Salem: A. c. Armstrong of
Duluth, president of the Northwestern
State Bank; Robert o. Bonnel of
Baltimore, president of the Public
Bank of Maryland; H. Ellsworth
Brown, president of the Morris Plan
Bank of Bridgeport, Conn: George
M. Clark, president of the Morris
Plan Bank of Chattanooga; Herbert
F. Koch of Cincinnati, executive vice
president of the Guardian Bank &
Savings Co: c. T. Miller of New York.
executive vice president of the Morris
Plan Bank of New York, and H. E.
Small, vice president of Morris Plan
Bank of Cleveland.
The bankers were slated to take up
various matters relating to manage
ment, earnings, extension of loans
and credit.
Recovery Elements Present.
Speaking on the prospects of busi-
ness progress. President Davis of the
United States Chamber of Commerce,
expressing his views for the Parade
of Confidence" program initiated by
the Advertising Club of New York,
said:
THE chambers of commerce and
trade and industrial organizations of
the country are showing the confidence
of business in itself and voicing con-
Viction that, with wider public under
standing of business, and appreciation
that what helps business helps you
there will be public support for policies
that will help business go forward.
In the United States today most
Of the economic elements of recovery
ere present. All of the resources
needed in men and materials and
equipment are available"
List of Stocks Aids Banks.
The Board of Governors of the Fed
eral Reserve System has published
list of stocks registered on national
security exchanges" as of January
81, 1888, for the purpose of facilitating
compliance by banks with the pro-
visions of regulation U.
Regulation U applies to loans by
hanks for the purpose of purchasing
or carrying stocks registered on a
rational securities exchange. and in
determining, for the purposes of regu-
1ation U, whether or not a security is
2 stock registered on a national Sc
curities exchange" bank may rely
upon the list published by the board.
Reservations Pass 700 Mark.
Reservations for the testimonial
dinner to be given by the District of
Columbia Bankers Association to
Controller of the Currency j. F. T.
O'Connor next Monday night at the
Mayfower Hotel have passed the 700
mark. it was reported in the financial
district today. Controller O'Connor
retires from the Treasury on April /.
In addition to Washington bankers
who will attend the dinner there will
be large number of officials from the
Treasury and the Federal Deposit In
s'rance Corp, while the Federal Re-
serve Board will also be we'll repre-
santed. Bankers consider that the
retiring controller has done a big
Job well" and are planning this final
reception just before he leaves for
California to run for the governor
ship.
Enjoy Philadelphia Dinner.
Washington was we'll represented at
the first bank guest night" dinner
gwen Saturday evening by Philadel-
r1ia Chapter, American Institute of
Banking. The Quaker City fnanciers
invited many bankers in other cities
With whom they have dealings and
also commercial contact men. such as
representatives of the PENNSYLVANIA
end Baltimore & Ohio Railroads and
ether big corporations.
The delegation from the Capital
included George O. Vass, Hillary G.
Eoskinson and I. J. Roberts. Riggs
National; James A. Soper and Richard
A. Norris, Lincoln National; Wilmer
j. Waller, Hamilton National, and G.
Elmer Flather, Union Trust Co.
Judge L. E. Birdzell, general counsel
OF the Federal Deposit Insurance Corp,
also attended the dinner The bank
ers were enthusiastic over the trip.
Business Drive Growing.
The new business campaign being
conducted for month by the Security
eavings & Commercial Bank is
another indication of how good busi-
ness really is in the Capital Francis
G.. Addison, jr., president of the bank,
said today that the various competing
teams were. 200 per cent ahead of the
goal which officials set before the
drive opened. The officers thought
they made generous estimate of
what might be accomplished and are
much pleased that the various quotas
are being so largely exceeded It is
entirely new business that has been
obtained. none being taken from any
other banks.
Today's Trading on Exchange.
Trading got away to good weeks
start on the Washington Stock Ex-
change today. The market opened
with two 81 900 transfers in Washing
ton Gas S. 1858, both at 1855.
Washington Gas common opened
with 50-share sale at %, unchanged.
Two 9-share lots appeared on the