Evening star., 1939-08-22
Senate Bank Study
Is Ranked Firstin
New Legislation
Committee of A. B. A.
Outlines Results at
Lost Congress
BY HAROLD B. ROGERS.


important" to bankers is the Wag-
ner resolution for the monetary and
banking study to be conducted by
the Senate Banking and Currency
Committee.
This is the opinion of, the Ameri-
can Bankers Association Committee
on Federal Legislation, as expressed
in a new publication just off the
press, which is to be sent soon to
every member of the A. B. A. The
committee report, entitled, Sum-
mary of 1899 Federal Legislation At
fecting Banking" is document OF
So pages and was issued by the
committee, of which A. L. M. Wig
gins is chairman and D. j. Needham
of this city, general counsel of the
A. B. A., is secretary.
Many of the proposals contained
In bills which will be pending be-
fore the next session of Congress
presumably will be covered in the
study to be made by the Senate
committee, headed by Senator Wag-
ner, the A. B. A. predicts.
Coordination Talked.
"The most likely subjects to be
considered" says the report, ARE
the proposals for the coordination
of the examining and other func-
tions of the Federal banking su-
pervisory agencies, the place OF the
Federal Home Loan Bank System in
the banking structure of the coun-
try, the separation of savings and
commercial banking, monetary and
credit control and regulation, ade-
ouate credit facilities for small busl-
ness and branch banking and bank
holding companies.
THE subject matter of the 1888
annual report of the governors OF
the Federal Reserve System relating
to problems of banking and bank
supervision and the proposals con-
tanned in the testimony of Prof.
Hanson of Harvard University and
A. A. Berle, Assistant Secretary OF
State, before the Temporary Ma
tional Economic Committee" pre-
diets the A B. A. report. will al
most certainly be included in the
agenda of the committees study.
These are of the greatest import to
all bankers, as they affect the fun
damental base of the banking struc-
ture of the country and the dual
system of banking 1t behooves
every banker to be giving serious
thought to these proposals.
Arranged in Two Parts.
The committee publication is ar
ranged carefully in two parts, the
first of which takes up laws enacted
and the one bill vetoed-that on in
terlocking directorates. The second
part considers pending legislation.
The Senate banking inquiry has
been authorized to consider and rec
ommend a national monetary and
banking policy by which the none
tary and banking authorities Of the
Federal Government shall be guided
and governed, and to consider and
recommend the character of gov
ernmental machinery best calcu-
lated to carry out such policy.
At the annual convention of the
A. B. A. at Seattle. September Is to
%, Washington will be represented
not only by Federal officials and by
officials of the A. B. A Office here,
but also by Washington bankers,
who have been given responsibility
in the official organization of the
A. B. A
Among the Federal speakers will
be Senator Pat Harrison, chairman
of the Senate Finance Committee,
and Preston Delano, controller of
the currency. From the A. B. A.
Office here will go Mr.. Needham,
general counsel, and j. O. Brott, as
sistant counsel.
Three on Council.
Washington will have three men,
bers on the Executive Council Of the
A. B. A: w. J. Waller, vice presi-
dent and cashier of the Hamilton
National Bank, who has been Sc
lected by the District Bankers Asso-
citation to be its representative on
the council; Robert V. Fleming,
president of Riggs National Bank,
who is a former president of the
A. B. A., and George o. Vass, vice
president and cashier of Riggs, vino
has been appointed by President
Philip A. Benson of the A. B. A. to
be member at large of the Execu-
tive Council.
Mr. Waller also will be State
chairman for the District of Colum-
bia of the State Legislative Council
A. B. A; chairman of the National
Bank Division Committee on Rela-
tions with Federal Agencies, mem
ber of that divisions Federal Leg
islation Committee and member of
the divisions Committee on Trust
Departments.
F. G. Addison, jr., president of Sc
curity Savings & Commercial Bank,
is member of the Executive Com
mittee of the State Bank Division,
A. B. A. and member of this di-
visions Committee on Federal Legis-
1ation. He also is a member of
special committee to study and
report on plan for uniform retire
ment and pension plan for banks.
Other members of this committee are
Norman Hayes of Philadelphia and
Millard Jones of Rocky Mount, N. G.
Sidney F. Taliaferro, vice presi-
dent and trust officer of Riggs, is
member Of the Executive Committee
of the Trust Division. A. B. A., and
chairman of Federal Legislation
Committee for that division.
d. c. Seeks ConcIave.
The Financial Advertisers Asso-
citation will be invited to hold its
next convention, in l941, in the Dis
trict of Columbia, according to Eliot
H. Thomson, publicity manager of
the Washington Loan & Trust Co.
A group of bankers has been work.
ing on plans for bringing this i'm
portant gathering to Washington
next year and feels encouraged over
the prospects.
The invitation will be extended at
the convention to be held in Toronto,
September IL to IA. Robert l..
Tn1