Evening star., 1938-06-18
ROBEY IS SLATED
TOHEAD BANKERS
Virginia Association Names
PurceIIviIIe Financier as
New President.
By EDWARD C. STONE.


Purcellville National Bank, Purcell
vile, Va, was slated to be elected
president of the Virginia Bankers As
sociation at the closing convention ses-
sion at Hot Springs today. He has
been vice president during the past
year, was nominated for the higher
Office yesterday and is unopposed. He
will succeed Alexander F. Ryland
Giles H. Miller, Lynchburg National
Bank e. Trust Co., is an unopposed
nominee for the first vice presidency
and the nominating committee named
Thomas H. Blanton, Union Bank &
Trust Co., Bowling Green, for the Sec
ond vice presidency. Under provisions
of the new constitution, all the as
sociation officers and the attorney will
now be members of the executive
council
Included in the group nominations
for executive council were S. H. Smith,
woodstock; T. E. Sebrell, jr., Airing
ton; w. S. Hildreth, Charlottesville;
j. S. Phillips, Tappahannock, and G.
w. Shepherd, Fredericksburg.
Profit Policies Studied.
More than 800 Virginia bankers at
tended the management conference at
which profit producing policies drew
special attention.
Ernest S. Woolley. bank analyst,
Newburgh, N. Y warned against the
use of quantity discounts" on checks
issued and average item cost, holding
such methods actually penalize small
depositors for the benefit of the large
depositors."
Speaking on Interest and Service
Charges Woolley said the depositors
have no objection ito paying a fair
selling price for banking services"
but they want those price tags fairly
marked"
R. H. Wells, Richmond banker, dis
cussing "1nstallment Loans for Com
mercial Banks" said competitive re-
duction of rates in this field would
''be followed by lowering of credit
standards which in turn will throw
open flood gates to uneconomic bor-
rowing"
The bankers were told by H. H.
Cooley, cashier of the Round Hill Ma
tional Bank, Round Hill, Va, that
the time has passed when the banker
can afford to go it alone" and ignore
what his neighbors are doing.
I'VE need" he said, "to develop
new spirit of mutual respect and con-
fidence in each other. and realize only
through combined efforts. concerted
action, can We hope to meet changed
conditions in banking"
A. H. Choate, Moorestown, N. j.,
secretary of the New Jersey Bankers
Association. explained the bank en-
ployes' retirement plan operating In
his association.
Bankers Differ on Business.
Regarding business conditions in
Virginia, the bankers expressed very
divergent viws according to the AS
sociated Press.
A. B. Schwartzkopf of the National
Bank of Commerce. Norfolk, said Nor
folk, due largely to shipping and the
absence Of heavy industries, was bet
ter of than most other cities of the
Nation
S. H. Plummer, president of the
First National Bank, Newport News.
encouraged by the recent shipbuild-
Ing contracts awarded the plant there,
said that whereas there is some COM
plant now as to retail trade, expect
an appreciable gain this autumn"
The Roanoke area is very little |
affected by the recession" said R. B.
Gum, president of the Mountain
Trust Bank in that city. He added
that both banking and general busi-
ness is as good now as it was last
year"
Alexander F. Ryland, president of
the Virginia Bankers Association. de-
scribed general business conditions in
Richmond as Unsatisfactory. He
SAID he could see no immediate pros
pect for betterment, except possibly
temporary pickup through pump
printing by Congress-
Conditions Fair on Farms.
c. S. Carter. president of the Do
mlnlon National Bank of Bristol, said
business leaders in his section were
pessimistic and felt that Government
was interfering too much with busi-
ness
Fred D. Maphis, president of the
First National Bank of Strasburg,
Shenandoah Valley town, said the
condition of general business in that
area was about so per cent of nor
NAL. Fruit crop prospects are so per
cent of normal. Farm conditions are
fair. with prospects for crops some
what below average.
Giles H. Miller, vice president of the
Lynchburg National Bank and Trust
Co., said: Business in Lynchburg is
ready to go-if the Government will
stop interfering with business"
New Banking Methods Urged.
Frank w. Lovejoy, sales executive of
the Socony-Vacuum Oil Co., asserted
bankers must forget their fears if they
are to pull out of the recession" He
suggested a human approach and
the application of modern merchan-
dising methods in banking.
Asserting full responsibility for the
business decline should not be shoul-
dered upon the New Deal" James w.
Rawls OF Richmond told the trust con-
ference certain industrial leaders
failed to conduct their affairs in such
a way as to stimulate business
G. G. Mccall, trust officer of the
First National Bank at Norton, said
smaller communities needed trust
services as much as the larger towns
and cities. He said that those vho
claimed this should be the function
of only the large banks overlooked
the benefits which trust departments