Evening star., 1938-08-04
Bank Proceedings Out.

1897 ---11.5S8,S81 63,324,831.5
1888 ----11,7 ,667 64,620,887.5
Bank Proceedings Out.
Proceedings of the Goth annual con-
vention held at Hot Springs in June
are being distributed today in printed
form by the District of Columbia
Bankers Association.
The attractive booklet contains the
addresses and committee reports heard
at the convention and is a valuable
record of very successful meeting.
Receiving more than passing atten-
ton is beautiful tribute to the men,
ory of William w. Spaid, senior part
ner in w. B. Hibbs & Co. and a leader
In the association, who died recently.
B. A. Committee Named.
Initiating program looking toward
eimplification of the laws on the is
suance and sale of securities, the In
vestment Bankers Association Of
America has appointed committee to
study the whole fabric Of this legisla-
ton. the Securities Act of 1888, the
Securities Exchange Act of 1884 and
the related statutes.
"The undertaking, which William O.
Douglas. chairman of the Securities
and Exchange Commission has indi-
Gated is agreeable to the commission,
Is aimed at eliminating the bottle
necks in the channels through which
capital flows to the expansion Of in
dustry and the employment of labor"
the Associations Investment Banking
stated in announcing appointment Of
the committee.
The committee includes: Mr.. Laham
Y, Bower, Harris, Hall &, Co. of Chi
cago Mr.. Charles S. Cheston, Smith,
Barney e. Co. of Philadelphia: Mr.
Francis E. rockingham, Coffin g.
Burr, Inc, of Boston; Mr.. Edward G..
Hilliard. j. j. B. Hilliard & Co. OF
Louisville: Mr.. Joseph P. Ripley,
Brown Hartman g. Co. of New York:
Mr.. John j. Starkweather. Stark
weather & Co. of New York: Mr.. Jean
C. Witter, Dean Witter &, Co. OF San
Francisco Mr.. Orin G. Wood, Esta-
brook & Co. of Boston.
Bank Director Named.
| At the regular monthly meeting OF
the board of directors of the WASH
ington Loan Il Trust Co. yesterday
Mr.. Thomas H. Welsh was elected a
director to fill the vacancy caused by
the recent death of the Oldest member
of the board, Mr.. George Anderson
King.
Mr.. Welsh is secretary-treasurer Of
the Hyattsville Building Association
and is in charge of its Washington
ONCE.
Air Express Expands.
Nearly 5000 miles OF airways IN
the United States have been added to
the service OF the air express division
of the Railway Express Agency in the
last II months. the agency reports.
Mileage as of August l was 1890,
compared with 10000 on August l.,
1887
Direct air-expreSs service was estab-
lished in the 1l-month period between
Baltimore and Pittsburgh. Baltimore
and Buffalo, Buffalo and Pittsburgh,
Washington and Norfolk, Chicago and
Dayton, Chicago and Grand Rapids,
Detroit and Sault Ste. Marie, Winslow,
Ariz., and San Francisco, Cheyenne
and Huron, Spokane and Portland,
Great Falls and Glacier Park, Billings
and Great Falls.
Financial District Notes.
The Washington Stock Exchange
was fairly active today. After the call
Ex different transactions in Capital
Transit Co. totaled 120 shares at 8.
Two shares of Riggs National Bank
common moved at 265. Four shares
of Potomac Electric per cent pre-
ferred sold at 1852. while six shares
sold at ll49s. A four-share lot and a
l0-share lot of Lincoln National Bank
changed hands at 210. Washington
Gas Light preferred was ex-dividend.
Mr. Harold c. Patterson. partner
In Auchincloss, Parker e. Redpath,
will return to his desk Monday after
/ three-week vacation in New Eng
land.
/ Mr. Chauncey G. Parker, jr.. part
ner in the same firm. left yesterday for
New York and will sail Saturday for
Europe He will join his family in
Switzerland and plans to return in
about six weeks.
!. Mr.. john A. Reilly, president of the
Second National Bank. will leave Aug.
ust IL for a months vacation at
Stone Harbor, N. J.
Mr.. William Willard. vice president
of the National Savings &, Trust Co.,
is spending his vacation in Walpole,
N. H. He plans to return in about 10
days.
Mr.. Chris Gockeler. assistant vice
president of the Hamilton National
Bank, will leave Saturday for three
weeks vacation in his cottage at
ventnor N. J.
Graham Is Recovering.
Mr. E. c. Graham, president OF the
Hamilton National Bank. writes from
Miami, Fla. where he has been vaca-
tioning, that his broken leg Is mending
nicely and that he left the hospital
for a motor ride this week. His leg
was broken when his car suddenly
rolled forward in the garage. A host
Of friends will be glad to hear of his
rapid recovery.
Mr.. j. Thilman Hendrick, senior
partner in W. B. Hibbs g. Co., Is
spending several weeks in Atlantic
City.
Mr.. j. O. Lehman. assistant cashier
of the Security Savings g. Commercial
Bank, will return Monday from two
week vacation trip into Southern
Maryland.
American Telephone Il Telegraph
Co.-Company reported loss during