Evening star., 1939-07-24

life insurance. gain of per cent
and Maryland reported a half-year
total of S49.002 900, an increase over
1888 of 8 per cent.
Comments on Mead Bill.
There was little enthusiasm in
local banking circles yesterday for
the redraWn Mead bill which would
insure bank loans to small business
up to 100 per cent and eliminate the
need for collateral" says the Wall
Street Journal.
Most bankers were of the opinion
that there is little need for such a
measure and doubted if it would
create any material increase in de-
mand for loans from small busi-
neSses. 1t was pointed out that there
is little untitled demand now for
funds from qualified borrowers.
1T was not believed likely that the
100 per cent insurance feature would
make banks any more willing to
make doubtful loans than they are
now. AS one banker put it. Banks
will not make bad loans just be-
cause they are insured 100 per cent
against loss"
Convention Plans Ready.
A unique kind of convention will
be presented to delegates to the
Financial Advertisers Association
at its oath annual meeting in To-
ronto September lila.
Although the association is made
up of public relations representa-
tives of financial institutions in the
United States and Canada, this is
the first time the organization will
hold its meeting on Canadian soil
and many unique features are
promised by the Canadian hosts.
Morning sessions of the conven-
ton will feature dramatizations en-
phasizing public relation problems
in the 25-year-career of a hypo-
thetical financial institution, from
its day of opening to the celebra-
ton of its 25th anniversary Such
problems as advertising, selling, pub
licity, public relations, employe and
officer training and the banks place
in the community will be discussed
in dramatic form. with members
from the Chicago. Cleveland and
New Jersey chapters providing the
cast Of characters.
Afternoons will be devoted to for
um sessions conducted by trust, say
ingS, investment and commercial
departmentals, and attention will
be given to the various media and
sales problems in financial ad-
vertising and public relations.
Many Bankers on Vacations.
T. Stanley Holland, trust officer
OF the American Security g. Trust
Co., and second vice president of the
District Bankers Association, is on
his vacation, now being at Bethany
Beach.
A. M. McLachlen, vice president of
the McLachlen Banking Corp, and
first vice president of the District
Bankers Association, is also at
Bethany Beach, where he is winding
up his vacation this week.
T. Hunton Leith, vice president
and cashier of the Security Savings
q Commercial Bank, is reported to
be improving steadily at Mount Alto
Hospital, where he has been con-
fined for several weeks.
Rutherford j. Dooley, cashier of
the National Bank of Washington
is another banker now on vacation
l.. j. Roberts, assistant cashier
Riggs National Bank, is now vaca-
tloning at Cape May, his favorite
resort.
Edward L. Hillyer, vice president
OF the Union Trust Co., has returned
from short trip to New York.
Miss Mary E. Hutchison, cashier
of the Mount Vernon Mortgage
Corp, is spending her vacation at
Ocean City, Md.
TOday's Trading on Exchange.
The weeks first sale on the Wash
tngton Stock Exchange was in Po-
tomac Electric Power 512 per cent
preferred stock, five shares moving
at 11512.
In the bond division, Capital Trac-
ton SIS figured in a ST 900 transfer
at 9414, same as the last previous
sale.
Bid and asked prices on other is
sues were practically unchanged.