Evening star. [volume] (Washington, D.C.) 1854-1972, 1939-05-29

bldlklOCk, WASH
ington Loan & Francis E. Robey.
Trust Co.; Kenneth Birgfeld, Ameri-
can Security & Trust Co.: J. Earle
McGeary, w. B. Hibbs & Co.; Wal
ton L. Sanderson, Hamilton Nation
al; I. j. Roberts, Riggs National;
George M. Rowzee, jr., Lincoln Ma
tional; G. Elmer Father, Union
Trust Co.; Roland T. Carr Riggs
National, and Neal w. Wells, Ma
tional Savings & Trust Co.
The party will leave the Capital
late next Sunday afternoon. after
meeting members of the Richmond
delegation at the Union Station here
and entertaining them at luncheon.
The two delegations will travel on
the same train.
AS previously noted, Mr. Roberts
Is one of the speakers. Mr.. Blaik-
lock will preside at the conference
on publicity. and Mr.. Carr will seek
oratorical honors which involve
$l,100 in prizes.
ID. c. Bank Stocks Hold Firm.
Bank stocks listed on the Wash
ington Exchange have recently drew
only moderate amount of atten-
ton but quotations have been I'M
usually firm. Bid and asked prices
remain around the best marks of the
year.
Riggs National Bank common is
now the highest priced stock in the
list, selling recently at 270 and
earlier in the year as high as 27S,
Next comes American Security &
Trust at 257 and Washington Loan
g. Trust at 235.
The last sale in National Capital
Bank stock was made at 142. Liberty
National sold recently at ITS, Riggs
preferred at 1922 and National
Bank of Washington at 1913.
The last sale in National Savings
e. Trust Co. stock was recorded at
1873. Bank of Commerce & Savings,
on which there is bid of 263, has
witnessed no sales on the exchange
this year. Same is true of Bank
of Bethesda stock, for which 2712
is bid, with none offered. Prince
Georges Bank & Trust Co. is also
listed, 1S being bid and % asked.
1t is interesting to note that all
these bank stocks are now dividend
payers in varying amounts.
Banks Form New Organization.
Organization of the Bankers Asso-
citation for Consumer Credit, a ma
tional trade association for banks
making personal loans and handling
finance credit. was announced at a
meeting in Cleveland. concurrently
with the sending of announcements
to 5000 banks in key cities in other
States.
The letter outlines the reasons for
forming the association, primarily
because of the rapidly growing en-
trance of banks of all sizes into the
field of personal loans and the in
stallment financing of automobiles
and major household appliances.
The present situation" the letter
says, shows a need for a central
point to which the bank, desiring to
investigate personal loan practices
the ACCESSIBILITY of making automo-
bile loans or of financing major ap-
planes, could send it's inquiries to
find the best and latest forms and
methods"
Personal loans and consumer
credit financing generally have been
powerful forces in regaining the
good will of the public for the bank
ing fraternity" the announcement
reads.
Bell System Holds Gains.
With the number of telephone sta
tons constantly increasing and toll
and long distance business running
ahead of last year. it is reported in
the broker houses that current earn
ings of the American Telephone &
Telegraph are maintaining the i'm
provement shown in recent months.
It is now believed the company will
more than earn dividend require
ments in the first half year.
The New Jersey Bankers Associa-
ton went on record unanimously as
being opposed to the merger of the
controller of the currency's Office
with any other Government Offices.
A resolution expressed the belief
that no other Government agency
can service the national banking
interests as well as the controller
does.
Francis G.. Addison, jr., president
Of the Security Savings e. CONNER
cial Bank, was one of the first to
send in his reservation for the Dis
trict Bankers Association convention
at Hot Springs. He has been to
every convention since they have
started.
Willard G. Barker, president of the
Morris Plan Bank, states that the
telephone calls requesting the time
OF day average about $4,000 a day
The calls come in over an automatic
system, the number being separate
from the banks numbers. The new
device was installed several weeks
ago.
Heard in Financial District.
General Motors Acceptance Corp
Is notifying holders of its $4,000,
600 10-year per cent debentures
due 1916, called for redemption OF
August /, 1899, that the issue viii
be redeemed at 1922 upon pre-
sentation of the debentures on ant
after that date at the Office of j
P. Morgan & Co.
Hartwen F. Taylor, assistant cash
Ter of the Morris Plan Bank O
Virginia. has been elected presiden
of the Richmond Chapter of tn
IF Do
the 1939-40 term.
Tom K. Smith, st. Louis banker
who was formerly connected will
the Treasury, has been nominatet
by Gov. Lloyd B. Stark to be
member of the Board of Curators o
the University of Missouri.
Today's Trading on Exchange.
The weeks trading on the Wash
ington Stock Exchange opened will