Evening star., 1938-06-13
BANKERS RETURN
OMCONvENT|ON
Capital Financiers Are Back
After ConcIave at Hot
Springs.
By EDWARD C. STONE.

BY EDWARD C. STONE.
Washington bankers who attended
the twentieth annual convention OF the
District Bankers Association were back
at their desks today after the four
day session at Hot Springs. Va. the
Bankers Special" having reached the
Capital at 11:15 last night.
In the party were the presidents OF
10 Washington banks and several Gov
eminent officials. The bank presidents
included Francis G. Addison. jr.; VIII
lard G. Barker, Clarence F. Burton,
Robert v. Fleming, Lanier P. McLach-
len, c. H. Pope, Ord Preston, John A.
REILLY and M. D. Rosenberg. John r.
Waller, president Of the international
Bank, also was in the party.
The highlight at the end of the
annual dinner Saturday night was the
awarding of golf and other cups for
which there had been three days OF
lively contests. after the business
sessions. There were many surprises.
Morgan Captures Own Cup.
The Carroll Morgan tennis cup was
won by Carroll Morgan, who will have
his name engraved on the cup and
hold it for the coming year Donald
Chlldrenss was second.
The ladies' putting contest was won
by Mrs. Thomas N Beavers, with Mrs.
Howard T. Foley second. The Eleanor
Patterson Cup was taken by Mrs.
Jack Shulman, the other prizes going
to Mrs. Chester Morrill,, Mrs. Earle M.
Amick and Mrs. Morris Cafritz.
The Karl Corby Cup was captured
by c. H. Pope. The Shannon Cup
went to John S. Walden Of the Re-
serve Bank of Richmond, the other
prizes being awarded L. j. Goode,
Wilmer ]. Waller and A. Harding
Paul. The McLachlen Cup was pre-
sented to F. G. Addison, jr., the other
prizes being taken by Mariner S.
Eccles of the Federal Reserve Board,
Hilleary G. Hoskinson and Thomas
j. Groom.
The Norris Wright Trophy was
awarded to ]. w. Clampitts jr. Roger
w. Whiteford won the Hibbs Cup,
the lesser prizes in this contest going
to Thomas N. Beavers, Howard p.
Foley and Horace G. Smithy. The
Richard Hatton Cup was won by DR..
Robert u Cooper.
w. H. Pardoe won the Pop Flem-
ing" Cup, followed by Holly Stover.
Ord Preston and T. Howard Duckett.
After a heated contest, the Gruver
Trophy in the horseshoe-p pitching
tournament was won by Donald
Childress, with Harry L. Downey a
close second.
Program Unusually Good.
Bankers considered the business
session programs unusually good.
Acting controller of the currency
was heartily congratulated on his ad-
dress on bank management. The
financiers agreed with all he said
except his urge that they should
make more loans They feel that they
are making just as many loans now
as possible, with safety. In fact,
bank officers say they have done all
in their power to create new business.
Mariner S. Eccles, chairman of the
Board of Governors of the Federal Re-
serve Board, who talked 'off the rec
ord" was heard with wide interest.
Abner S. Ferguson, general counsel
of the Federal Housing Administers
tion, who explained the meaning of
the amendments to the National
Housing Act, made one of the best
addresses on subject in which all
bankers are necessarily deeply con-
cerned. The views of Dr. Marcus
Nader on money rates were most
timely and heard with wide apprecia-
ton.
Arthur j. Linn's presentation of
review of 20 years of Washington
banking covered the field most COM
pletely and showed many sweeping
changes during that period. While
the number of banks was reduced in
the two decades from A to %, both
assets and deposits have scored notable
advances. BY the use of charts Mr..
Linn vividly pictured many most in
teresting trends.
The annual report of the work of
the association disclosed an unusually
busy year. At the opening of the
convention President Thomas j.
Groom reported that business condi-
tions in the Capital are comparatively
satisfactory and should continue to re-
main so. He pointed to the stable sal
aries of Government employees as the
main reason on which his predictions
were based.
Good Loans Sought.
OF general interest to financial cir
cles was the address delivered today
to the Oregon Bankers Association at
Corvallis, Oreg., by Philip A. Benson,
who declared Banks everywhere are
seeking good loans"
They would, in fact, prefer a good
borrower to a good depositor today"
declared Mr. Benson, who is president
of the Dime Savings Bank of Brook
lyn, N. Y.
Some banks are even advertising
for loans. However, no one worthy
of the name of banker would consider
for a moment making a loan unless
there was every reasonable assurance
Of its being repaid at maturity.
Heard in Financial District.
The National Union Co. of Balti-
more has filed registration statement
with the S. E. C. covering $4,000, 900
3 per cent 10-year bonds due in 1858.
Mackubin, Legg & Co. will be the
underwriters.
George H. Keesee, cashier of the
Federal Reserve Bank of Richmond,
was at the Hot Springs Convention.
He has been with the Washington
bankers at every meeting for some
Is years and will attend the Virginia
Bankers convention later this week.
This meeting will also be at Hot
Springs.
Ralph A. Van Orsdel will address
the Chartered Life Underwriters