Evening star. [volume] (Washington, D.C.) 1854-1972, 1938-09-24
NEW CONTROLLER
WELL KNOWN HERE
Appointment Stirs Interest
Because of Wide Power
in District.
BY HAROLD B. ROGERS.

troller of the currency and will have
large authority over financial insti-
tutions here in Washington, is out OF
the city over the week end
Well known in savings and building
and loan circles, Mr. Delano also has
been prominent in Wall Street by vir-
ture of his work as governor of the
Federal Home Loan Bank System,
which has f1oated many issues of de-
bentures.
AS controller of the currency Mr..
Delano will have wider authority over
financial institutions in Washington
than elsewhere because of special
legislation which gives him such au-
thority in the District of Columbia
Hence his appointment is of vital
interest to the local financial district
Change to Take Time.
He has many matters to close out
at his present Office, it was learned
today, and probably will not take
over his new post as controller until
about the third week in October
OF medium height and slender. ath-
letlc build, Mr.. Delano is known
among his associates as a man with
considerable personal magnetism "
His hobby is golf, He is charac
'terlzed as the modern type of finan-
clal leader, but a conservative who
believes In tested theories" He is
known to be well liked by all groups
In finance with whom he has come
in contact through his important
post. He has fostered spirit of Co
operation" among financial institu-
lions. especially. between the banks
and the savings and building and loan
associations.
He is on record as feeling that each
of these has its own field and that
they should all work in harmony in
stead of against each other.
The new controller is known as one
who is good listener" willing to
comprehend the viewpoint of the other
side, willing to discuss matters on
common ground, willing to play BALI
fairly. but aggressive and firm in his
own convictions.
Attended Leland Stanford,
He was born in Phoenix, Mich, In
1886. His family has maintained a
home in Fairhaven. Mass, where he
attended school and entered Harvard
University. Due to the illness of his
father the family moved temporarily
to California, where he entered Le-
land Stanford University and received
his A. B. degree in 1909.
After graduation he became asso-
ciated with Twohy Bros. Co., a Pacific
Coast firm engaged in construc-
ton. banking and financing. After
entering their service he was sent
to the field in connection with
their construction work and later
moved to the Portland office. where
he became Office manager, subsequent
ly resigning to become general man.
ager of a small railroad in Southern
Oregon
Upon the entrance of the United
States into the World War Col. Bates
Cavanaugh of the 18th Engineers in
vited Mr.. Delano to enter his regi-
ment, which served 18 months in
France. Mr.. Delano entered the Army
with the rank of second lieutenant and
was promoted to the rank of regi-
mental staff captain. After the war
he returned to Twohy Bros. until
1922 in charge of the firms San
Francisco office, In 1922 he went to
the business of investment securities
in San Jose. Calf, where he re-
manned for two years, working largely
with State and national banks in the
handling of mortgages and invest
ments.
Assistant to Hawkins.
at the request Of the late Russell NJ
Hawkins, former member of the Fed
eral Home Loan Bank Board, to as
sist Mr.. Hawkins in his work. Upon
the death of Mr.. Hawkins in Janu-
AIRY, 1884, Mr. Delano was made as
sistant general manager of the Home
Owners Loan Corp. and was later
promoted to the position of general
manager in June, 1884. In Novem-
her. 1885, he was appointed governor
of the Federal Home Loan Bank Sys-
TEN.
The expansion Of the system to its
present size has occurred under his
leadership and direction.
Mr.. Delano was married in 1922 to
Miss Ruth Small of Portland, Greg
They reside at 2400 Sixteenth street
Appointment of Mr.. Delano was an
nounced yesterday at the White House
by the Presidents secretary, Stephen
Early, after j. F. T. OConnor, former
controller, had conferred with the
President. Mr. Early said Mr.. O'Con-
nor, who had failed to win the nomi-
nation for Democratic Governor Of
California. did not desire reappont-
to the practice of law. He said he
would work for election of the Demo-
cratic ticket in California.
Attend /. b. A. Meeting.
A large group of Westinghouse at
tended the annual meeting yesterday
at Baltimore of the Southeastern
Group of the Investment Bankers As
ISOLATION of America, which elected Of
Of Folger Nolan e. Co. of this city, vice
chairman.
Other officers named for the year
Included; r. S. Dickson of Charlotte,
N. O.. chairman, succeeding Robert S.
Belknap of Baltimore; William j.
Price III, Baltimore. vice chairman;
J. Elliot Irvine, Baltimore secretary
treasurer; William Frazier. Richmond
Va, and James H. Brady. jr.. of Bal
timore, members Of the board of gov
errors
Y E. Booker of this city, former
chairman, whose term as member of
the Executive Committee expired this
year, was in the delegation from this
city.
Sir Willmott Lewis of this city,
correspondent for the London Times,
delivered the principal address at the
annual banquet last night at the
Baltimore Country Club. He dis