Evening star., 1939-06-22

position being Clara F. McGrath.
with the National Metropolitan
Bank, where she remained for sew
eral years. She resigned to take
over the Credit Bureau work in the
head Office of the Bankers Asso-
citation.
Miss McGrath was charter
member of the Bank Women's Club
of Washington and is treasurer of
the Zonta Club, an organization Of
professional women, to which she
belongs because of her Credit Bu-
reau activities.
The Credit Bureau was estab-
lished when Robert v. Fleming was
president of the District Bankers
Association in 1928. S. William
Miller was chairman of the Credit
Bureau Committee during the year
just ended, his annual report at
the Hot Springs convention reveal
ing tremendous interest in the loan
protection activities.
Chairman Miller stated that dur
ing the year $4,000 reports had been
received by the bureau and $500 in
quiries made. He commended Miss
McGrath most highly for so ef-
ficiently handling the increasingly
large volume of work.
President Signs Loan Bill.
President Roosevelt has signed the
bank officers loan bill, which ex-
tends the time limit within which
bank officers must repay loans made
to them by their own banks, for five
years, or to 1914. The provisions of
the bill also kill the requirement
that all banks having deposits of
$1000,000 or more must join the
Federal Reserve System by 1912. It
was estimated by Senator Glass that
about 1000 bank officers now owe
a total of $32,OO0,000. He made a
strong plea for the time extension.
stating that the officers would lose
their positions and would not be
able to pay the loans if they were
not given more time. The time limit
was June 80 before the bill was
passed.
Finds South FlOurishing.
G. Bowie Chapman of Laidlaw &
Co. has returned to his Office after
several days tour through the South
with officials of the Southern Rail
way. Mr.. Chapman said today that
he was astonished to note the recent
progress in the industrial cities. In
each city visited he was much i'm
pressed with the changed conditions
He will leave Washington Saturday
for Nantucket, where he has taken
extensive quarters for the summer
season.
Leo T. Crowley, chairman of the
Federal Deposit Corp, addressed the
Michigan Bankers Association at
Detroit yesterday. He urged banks
to keep more complete records of
their costs in order to che ok the
causes of losses. He told the finan-
ciers that he is one who believes
that most banks are doing every
thing in their power to extend loans
to business and industry, at the
same time holding to sound credit
principles.
Fleming Addresses Staff.
President Robert V. Fleming spoke
briefly at the final meeting Of the
season of the entire staff of the
Riggs National Bank, at the
Wardman Park Hotel, about 300
being present. Philip M. Garnett
retiring chairman of the Customer
Relations Council, presided, min
strel show being staged and pro-
duced by Brooks B. Ford to the
great enjoyment of the banks en-
ployes. Mr.. Garnett was congratu-
lated on the programs he has ar
ranged during the year.
The program ended with buffet
supper. G. Edward Foreman has
been elected chairman of the coun-
Gil for next year.
Insured Mortgages Increase.
Home mortgages accepted for in
surance by the Federal Housing Ad-
ministration in April, in Washing
ton, number 81 and involved $212,-
400 against 80 involving a total o1
42l4,G00 in April, 1888, the F. H. A
reports.