Evening star., 1938-07-02
BANKERS NAMED
ON COMMITTEES
New Chairmen Push Plans
for Coming Years Work
In D. c. Association.
by EDWARD C. STONE.

W. ~'''S SSH ~ ssSIN
In D. c. Association.
by EDWARD c. STONE.
Several standing committees Of the
District Bankers Association for the
coming year have been completed by
the various committee chairmen who
were appointed few days ago by Hil-
leAry q. Hoskinson, the new presi-
dent.
willard q. Barker, chairman Of the
Advertising Committee, has named as
his assistants, In addition to Vice
Chairman Robert L. Father, Eliot H.
Thomson, Washington Loan q Trust
Co.; George o. Vass, Riggs National
Bank, and E. Percival Wilson, Ma
tional Savings d Trust Co.
George M. Fisher. chairman of the
Auditing Committee, has added to
his committee. besides Vice Chairman
8. Wilson Earnshaw. James D. Bar
rett American Security d. Trust Co.;
Harold w. Denison, Bank Of Com
meroe d Savings, and Gerald E.
Keene, Second National.
Ord Preston. chairman of the
Budget Committee, will be assisted by
Albert s. Galley. Lincoln National;
7. Stanley Holland, American Secur-
ity d Trust Co., and A. NJ Nc
LAchlen, McLAchen Banking Corp.
william B. Willard, chairman Of
the Commercial Trade Activities
Committee, and Vice Chairman James
A. Soper, will be aided by John Alden,
National Bank Of Washington; M. F.
Calnan, Liberty National: Joshua
Evans, jr., Hamilton National, and
G. F. Jacobsen, National Metropol-
itAn.
8. William Miller is chairman of
the Credit Bureau. with G. D. Rat
ellie vice chairman. Other members
Of Mr.. Millers committee include
Hubert T. Bisselle. Riggs National:
r. H. Cox, City Bank; o. B. Exline,
Bank Of Commerce d Savings; s. S.
Ogilvie, Second National, and William
e. Schooley, American Security d
Trust Co.
Stanley D. Willis, chairman of
Government relations, In addition to
Vice Chairman w. L. Koontz, has ap-
pointed two more members, Fred Me-
Kee, Security Savings g. Commercial
and Frank j. Stryker. Columbia.
The new appointments include bank
presidents, vice presidents and other
ofncers, the selections being unusually
representative of the associations
membership
Exchange Activity Picks Up.
Catching some Of the spirit of Wall
Street, business on the Washinston
Stock Exchange was much more active
during the past week than for several
weeks previously. Prices also were
stronger
Mersenthaler Linotype was the
market feature. The stock closed the
previous week at Is, to open on Mon
day at 10. On Thursday there were
two 1o0-share sales, both at II, after
transfers on Wednesday at 1872. Then
Friday saw IL consecutive sales in
the same issue, opening 1T 81 and
closing ut 201s. The new interest in
the stock recalled the old days when
Mergenthaler was one Of the most
popular issues on the board.
Washington Gas Light preferred was
IN good demand during the week,
several sales being made at 90, fol.
lowed by . shading Of the price to
98h. It was the first time the stock
had sold under 90 since $4,000 addi-
tional shares were listed recently.
Riggs National Bank common stock
moved at 269, up from 264. Wood
ward & Lothrop common registered
50, unchanged. Capital Transit was
up to 9 and Washington Railway q
Electric preferred moved UP half a
point to 1l2.
Bonds remained Arm Washington
Gas IS, 1860. came out at 117%, q gain
OF half point. and Washington Rail-
way & Electric Is appeared on the
board at LOT. q half point under the
last previous sale. II holders Of bonds
were only willing to sell at present
prices, there would be still more ac-
tivity on the Washington Exchange,
members observe.
Clearings Near 1886 Levels.
While bank clearings in Washington
IN June and the first six months of
this year were lower than in the like
periods . year ago, 1t is interesting
to note how near they were to the
1896 figures.
June clearings this year totaled
Sl01 ,S41 ,624.30. and in June, 1895,
amounted to $1o4,s41 ,o34.71. In the
hrst six months Of this year bank
clearings in the Capital summed up to
1856, ,055, ,43042. while in the first half
OF 1886 checks cashed here amounted
to $550.896.1116o.
The haH-year figures show q gain
this year Of around $4,000, 900 in
clearings over the same period two
years ago. at the same time indi-
eating that business has been more
rapid than in 1896.
Although clearings in the Capital
are well below last year, the trend by
months Is now upward. Many bank
ers express the opinion that the trend
will continue upward, perhaps for the
remainder Of the year. They base this
expectation on the recent upturn in
several important national business in
dices and the rise in the stock mar
ket.
For years bankers have noticed that
people Of means spend comparatively
little money when stocks are going
down. A rising market changes that
6ituAtton almost overnight. Wash
angton financiers say they have rarely
seen such q sudden change from gloom
TO optimism rs has taken place in
the last 10 days. Clearings are cer-