Evening star., 1939-12-05
Washington 10 Send
Large Banking Group
To Richmond Farley
About 30 Finunciers
Will Attend Two-Duy
Session This Week
By EDWARD C. STONE.

p6CU6O " dlCcllo tllc OeSlOlld1
Banking Conference of the Amer
lean Bankers Association at Rich
mond, Va, next Thursday and Fri
day, it was announced in the flnan-
cial district here today. Banks from
l3 States and the District of Colum-
bia will attend the two-day sessions,
the general theme selected being the
part that banking has in business
development.
The following Washington bank
ers will attend the conference:
Ord Preston, president Of the
District of Columbia Bankers Asso-
citation and president, Union Trust
Co.; D. j. Needham, general coun-
sci, American Bankers Association:
Frederick P H. Siddons, secretary,
and Paul j. Seltzer, assistant
treasurer, American Security g.
Trust Co.; Thomas J. Groom, eXecu-
tive vice president and cashier, Bank
of Commerce g. Savings; C. F Bur-
ton, president. and A. Scott Offutt,
vice president, City Bank; W. J.
Waller, vice president and cashier,
w. R. Forster. vice president. and
w. L. Sanderson, assistant cashier,
Hamilton National Bank: M. F.
Calnan. president, Liberty National
Bank: L. P. McLachlen, president,
McLachlen Banking Corp; c. H.
Pope, president, Munsey Trust Co.;
j. Frank White. president, and R,
J. Dooley, cashier, National Bank
of Washington: F. E. Hildebrand,
vice president. National Metropoli-
tan Bank; David Bornet vice presi-
dent, National Savings e. Trust
Co.: George o. Vass. vice president
and cashier, H. T. Bisselle. assistant
vice president, Nelson B. ONeal,
assistant vice president. and R.
Earle Haycock. auditor Riggs Ma
tional Bank; John A. Reilly, presi-
dent, Second National Bank and
third vice president. D. c. Bankers
Association: Julius E. Lob. vice
president, Second National Bank;
Francis G. Addison, jr., president,
Security Savings & Commercial
Bank; S. William Miller, treasurer,
Union Trust Co.; George NJ. Fisher,
vice president and treasurer. and
Ralph Endicott, assistant treasurer.
Washington Loan & Trust Co.. and
Donald W. Larson, secretary, D. c.
Bankers Association.
The speakers include Robert M.
Hanes, president of the A. B. A.,
who will preside: William A. Irwin,
New York; Giles Miller. president,
Virginia Bankers Association, and
A. L. M. Virgins of Hartsville, S. c.
Bank Joins Federal Reserve.
The Security Savings g. CONNER
cial Bank, Ninth and G streets, has
been admitted to membership in
the Federal Reserve System. becom-
ing directly connected with the
Federal Reserve Bank of Richmond.
it was announced by President
Francis G. Addison, jr., today.
This is the first State bank in the
District and also the first savings
bank in the city to take the step. it
was stated The action was taken
as the result of efforts being made
by the Richmond Reserve Bank to
get as many banks as possible to
become members in order to add to
the effectiveness of the Federal Re-
serve System" Richmond bank Of
f1cials feel that the more banks
there are in the system the better
the service that can be rendered.
The Security Savings g. CONNER
cial Bank is now 26 years old and
was founded by Julius I. Peyser,
now chairman of the board Among
the officers are Fred Mckee, vice
president, and T. Hunton Leith, vice
president and cashier. Deposits on
the call of October 2, 1899, totaled
$8,323, ,552.09
The directors include Mr.. Addison,
Dion S. Birney,. Samuel S. Blick,
James A. Councillor, Diller F.. Croft,
Benjamin H. Gruver, Rudolph T.
Harrell. George E. Judd, Mr.. Leith,
Mr.. Mckee, R. Carl Mitchell, Ben
jamin Ourisman, Julius I. Peyser,
Stacy NJ, Reed, Morris Simon. Will
liam w. Spalding and Milton Stras-
burger.
$4,000 Loans Every Hour.
More than $4,000 loans were made
during every banking hour in the
first six months of 1889 by half of
the country's commercial banks, it
was stated in New York last night
by Robert M. Hanes, president of the
American Bankers Association.
THE commercial banks of this
country made 1859 new loans to
business organizations and indivi-
duals during every banking hour
between January and June 80 and
renewed 1882 outstanding loans dur
ing every banking hour" Mr.. Hanes
stated In addition, he said, 'the
banks made 1853 new mortgage loans
during every banking hour in the
same period
This is a total of 14,784 credit
extensions to business firms and in
dividuals by commercial banks for
every banking hour during the first
half of this year" he declared
Mr.. Hanes added that 5000 banks,
or Al per cent of the commercial
banks Of the country replied to
QUESTIONABLE, reporting 11.531.733
credit extensions totaling S18.114,-
O1l.422 in the half year. Add the
credit extensions of the other SO
per cent. and We have staggering,
almost unbelievable total, he said.
Crowley to Take New Post.
Leo T. Crowley, chairman of the
Federal Deposit Insurance Corp,
said yesterday he would accept the
position as chairman of the Board
of Directors of the Standard Gas g.
Electric Co., but would remain IN
his present position for few
months to clean up some pending
banking problems" These prob
lens, he said, do not involve any
questions of major policy. He has
many close friends among Wash
ington bankers.
Preston Delano. controller of the
currency, was special guest at