Evening star., 1938-01-18
M0ULTON HEARD
BYD.C. BANKERS
More Than 200 Officials At.
tend Associations Meet.
ing at Willard.
BY EDWARD C. STONE.

more IMAM ZUO Dank OmclalS ana
directors attended the midwinter
meeting of the District Bankers As
sociation at the Willard Hotel last
evening, listened to important re-
ports on association activities and
heard an address on Present Trends"
by Harold G. Moulton, president OF
the Brookings Institution.
George NJ Fisher, vice president
and treasurer Of the Washington Loan
IL Trust Co. and chairman of the
Committee on Standardized Banking
Forms, made the first report. Due to
changes in the District tax laws, Ger
tain changes have been found desir-
able in some of the forms used by
the banks.
John A. Reilly, president of the Sec
ond National Bank, who is chairman
Of the associations Insurance Com
mittee, made a report. as did William
B. Willard, vice president of the Ma
tional Savings & Trust Co., who is
chairman of the Committee on Com
mercial Trade Activities. Mr.. Willard
summarized the present favorable
trade conditions in the Capital.
President Thomas j. Groom intro
duced T. Stanley Holland, the newly
appointed chairman of the General
Convention Committee in charge Of
the June gathering at Hot Springs, Mr.
Holland is trust officer of the American
Security & Trust Co.
Robertson GriSwold, president of
the trust division of the American
Bankers Association and vice presi-
dent Of the American Trust Co.. Bal
timore, was special guest and re-
ceived hearty applause when intro
duced to the bankers.
Many routine matters disposed Of,
the financiers adjourned to buffet
supper The unusually interesting
program was arranged by Ord Pres
ton, second vice president Of the asso-
citation.
Thorn Reports Excellent Year.
Stockholders of the American Sc
curity g. Trust Co. held their annual
meeting this noon, re-electing the fol-
lowing directors for 1898:
c. A. Aspinwall, William L. Beale,
Gist Blair, Harry K. Boss. George w.
Brown, Charles A. Garry, Frederick w.
Coleman, William w. Everett, William
j. Flather, jr; M. G. Gibbs, James M.
Green, Gilbert H. Grosvenor, William
Montgomery, Howard Moran, Newbold
S. Percy Thompson. Benjamin w.
Thoron, James F. Wilkins and Edward
G. Yonker.
In his annual report, President Cor
coran Thorn stated that net income
from bank operations increased SUBJ
stantially over previous years, espe-
cially good gains being made in 1887
over 1885 and 1885,
During the year double liability of
shareholders ceased, in accordance
with action taken at the annual meet
ing in 1886. The trust company fol-
lowed the policy OF keeping cash re-
serves substantially in excess of legal
requirements. Mr.. Thorn announced.
Munsey Trust Rejects Board.
Stockholders of the Munsey Trust
Co. held their annual meeting today
and reelected the present board of
directors for the coming year as fol-
lows: Charles DENLY, Thomas w.
Dewart. William T. Dewart, William
T. Dewart, jr.: Gilbert T. Hodges,
Arthur G. Lambert, Louis B. Mount
fort, A. Harding Paul, c. H. Pope, c.
d. Ratcliffe, Alfred P. Thorn, jr.;
Arthur L. Thompson, T. c. Willies and
r. H. Yeatman.
The Munsey Trust directors met at
once and reelected the following off,
GERS for the ensuing year: William T.
Dewart, president; c. H. Pope, vice
president and treasurer; c. D. Rad
clif1e, vice president and assistant
treasurer; T. c. Willis, secretary and
assistant treasurer; P. j. Mcmahon,
vice president and assistant treasurer;
A. j. Byrne and R. d. Watkins, assist
ant treasurers. and R. H. Yeatman,
general counsel and trust officer.
800 Statesmen to Confer.
The annual Frtgidaire Convention
will be held in Baltimore tomorrow at
the Alcazar when 100 salemen from
the Washington area, 80 from Hag-
erstown, and approximately 200 from
the Baltimore area will be in attend
Ance. Twenty men from Dayton will
put on an exhibit, which will be
opened by H. L. HARRISON, district
manager of the Baltimore Washing
ton area.
Omcials OF the National Retail Lum- !
Der Dealers Association in Washing
ton will participate in meeting in
New York on January 80 when it is !
intended to organize the Independent |
retailers Of the United States into a |
national body. The announcement Of |
the meeting states that an independ-
ent retailer Is man who owns his |
own business" It is estimated that |
there are 1,500, 900 such dealers and |
that they do about 70 per cent of the |
retail business of the country.
Bankers Arrange New Course.
Onicers of Washington Chapter,
American Institute Of Banking, have
arranged q new course in real estate
and home loans to be offered during
the second semester, with Harry I.
Kane instructor Mr. Kane is assist
ant secretary Of the Columbia Title
Insurance Co. and the Real Estate
Title Insurance Co. and is also a
teacher in Columbus University. As
the banks are turning more and
more to home mortgages as invest
ments, it is felt that the course will
fill a real need among the junior
bankers in the Capital. The class
starts on next Tuesday.
Real Estate Loans Favored.
Investment Of q reasonable propor-
tion Of bank deposits in real estate
loans, with portion Of them bearing
the guaranty Of the Federal Govern
ment, materially strengthens the DO
sition Of financial institution in the
opinion Of A. p. Gianni, chairman
Of the board of the Bank of America.
His views are revealed in Insured
Mortgage Portfolio published by the
Federal Housing Administration.
Mr.. Giannini states that his bank