Evening star., 1938-02-12

history of the Bank Women's Club in
Washington.
Miss Anne Houston Sadler. assistant
secretary of the Bank of the Man
haitian Co., New York, and president
of the national organization, was ex-
pected to speak at the same meeting
on the purposes and plans OF the as
sociation
The most actives members OF the
Washington association are Miss S.
Winifred Burwell, assistant trust off,
Ger, National Metropolitan Bank, who
was in charge of the arrangements
for today's conference; Mrs. Vera w.
Rhine, cashier of the Morris Plan
Bank, and Mrs. Helena D. Reed, as
sistant trust officer Of the Lincoln Ma
tional Bank
The National Association of Bank
Women is made up of about $500
women who are active bank officers,
including some women presidents. In
New York the membership includes
several women who are in charge OF
the women's departments Of leading
banks.
After spending the afternoon dis
cussing matters of vital import to all
bank women, dinner will be held at
the Willard this evening at which the
guest speaker will be Bray Hammond,
who is associated with the Board of
Governors OF the Federal Reserve
System. He will discuss The Thirst
for Credit" Tomorrow will be de-
voted to, sightseeing.
Fleming on Mortgage Board.
His friends in the financial district
are congratulating Robert v. Fleming.
president of Riggs National Bank and
former head of the American Bankers
Association, on his appointment by
Jesse H. Jones as one of the directors
of the newly established National
Mortgage Association of Washington.
to invest in first mortgages insured
by the Federal Housing Administra-
ton.
Other directors are c. B. Henderson,
Emil Schram. r. F. c. directors:
Claude E. Hamilton. r. F. c. counsel,
and w. c. Costello, assistant to Mr..
Jones.
The corporation has a capital of
sl0,000.00o with surplus of s1,000.-
600 and can issue debentures up to
20 times its capital
Mr.. Jones said that the President
had requested that I'VE hold in re-
serve s4oooo.oo0 for the capitalize
ton OF other mortgage associations"
as they may be needed.
Would Extend Payment Time.
Controller of the Currency j. F. T.
O'Connor has recommended in his
annual report that legislation be
enacted extending to June is. 1899,
the time in which executive officers
OF the banks of the Federal Reserve
System may repay Indebtedness to
their own banks incurred prior to
the Banking Acts Of 1888 and 1885.
The acts provide that officers may
not borrow from their own institu-
tions in amounts exceeding S2,50O,
and allowed until June 16. 1898. for
limit.
Bank Enrollments Reach 227.
Paul j. Seltzer, chairman of the
Educational Committee of Washing
ton Chapter. American Institute of
Banking. announced today that en-
rollments for the second semester
reached a total of 227 students. The
class in commercial law was so large
it had to be divided into two Sec
tions.
The courses and number Of stu
dents are: Commercial law, 10; eco
nomics, so; credits. 40: bank man
agement. 81: real estate and home
loans, 36; total. 227.
Noted in Financial District.
The financial district was a one
sided affair today, with the banks
doing lively Saturday business and
the New York Stock Exchange offices
closed for observance of Lincoln's
birthday anniversary.
Thomas r. Preston, president of
the Hamilton National Bank at Chat
tanooga, has been indorsed for re-
election as a director in the United
States Chamber by So member Or
ganizations in Southern States.
The Commerce Department reported
today that department store collec-
ton ratios in December were 3.4 per
cent lower than in December, 1886.