Evening star., 1939-06-10
Preston Heads
D. T.. Bankers
Association
lusk Discusses
Building Situation;
EccIes Speaks
BY EDWARD c. STONE,

HOT SPRINGS, Va, June 10
Ord Preston, president of the Union
Trust Co. was elected president of
the District Bankers Association at
the closing session of the 2lst an
nual convention here today. He has
been first vice president during the
last year and succeeds Hilleary G
Hoskinson.
Other officers were also advanced
A. M. McLachlen. treasurer of the
McLachlen Banking Corp, being
elected first vice president and T
Stanley Holland trust officer of the
American Security g. Trust Co.. sec
ond vice president Albert S. Cat
ley, executive vice president of the
Lincoln National Bank, was again
made treasurer and Donald w. Lar
son secretary.
John A. Reilly, president of the
Second National Bank, who has
been general chairman of the pres
ent convention, was elected third
vice president. According to GUS
tom this means that Mr.. Reilly will
be president of the association four
years from now. Frank j. Hogan
will again serve the association as
general counsel.
Today's election climaxed a busy
session presided over by Second
Vice President A. M. McLachlen
Rufus S. Lusk. publisher of the
Washington Business Review. large
ly devoted to real estate interests
addressed the convention on The
Building Situation In Metropolitan
Washington Today and Year
Hence Mr. Lusk is president of
the Washington Taxpayers Asso-
citation and secretary of the Build
Ing Owners and Managers Associa-
tion. 1t was the second time he
has addressed the association. pre-
senting his personal views of the
real estate outlook.
Eccles Addresses Bankers.
Mariner S. Eccles, chairman of
the Board of Governors of the Fed
eral Reserve System, who has at
tended many of the association s
previous conventions. was intro
duced and asked to speak. His
talk, off the record aroused keen
interest.
Joseph R. Fitzpatrick, retiring
president of Washington Chapter
American Institute of Banking, pre-
sented a most interesting summary
of the years work and progress
The chapter is sponsored by the
bankers association.
Another feature of todays pro-
gram was the reading of the essay
which won first prize in the recent
contest for members of Washington
Chapter. The winner, Arthur E
Meade of the Lincoln National
Bank. presented his essay on "Su-
pervlsion of Banks Investment
Portfolio Under Present Conditions, u
his paper receiving high praise.
Yearly Reports Presented.
Reports covering the work OF
various committees were presented
today as follows:
observation-disclosures. Willard
G. Barker, president, Morris Plar
Bank
Auditing-Chairman. George M
Fisher. vice president and treasurer
Washington Loan & Trust Co.
Insurance-Chairman, John A
Reilly, president, Second National
Bank
Protective-Chairma A. Scott
Offutt, vice president. City Bank
Standardized Banking Forms
Chairman, Robert H. Lacey, cashier
Columbia National Bank
Speakers Unit-Chairman Fred
erick P. H. Siddons, secretary, Amer
lean Security & Trust Co.
Auditors Section-Chairman Ger.
aid E. Keene, assistant cashier, Sec.
ond National Bank.
Fiduciaries Section-Chairman J
Eliot Moran, assistant trust officer
American Security & Trust Co.
Safe Deposit Section-Chairman
Percy C. Brady, American Security
& Trust Co.
Bankers Must Face New Era.
Albert S. Atwood, former financia
editor of the Saturday Evening Post
told the delegates that they mus
face the new era in banking lie
no one suppose, said Mr.. Atwood
that it does not take a liberal mind
a forward looking mind, to be {
good banker.
He has got to get out of a rut
learn how to shift the basis O.
financing, to change the form o
security, in order to make a poo
loan into good loan" he said. "Ir
the brief address which Calvin Cool
idge made when he was sworn in a.
President of the Massachusetts Sen.
ate he said: BE as revolutionar,
as science, as reactionary as tn,
multiplication table
But the banker has another anc
equally important function. People
Will not patronize a bank if they
think the officers are rash and i'm.
pulslve. Therefore the banker serve,
an enormously important function
when he supplies his community
with the personal qualities of so
briefly, moderation, steadiness ant
stability. If he is to furnish anc
possess these qualities he must b,
most alert to preserve and protec
those essential principles of ou
constitutional form OF government
which have given this country such
an amazingly long. career of order
stability and continuity.
The dual form of our Govern.
ment, the reservation of man,
powers to the States. and also tn,
separation of powers in the Fedora
Government-these are as valuable
and precious to the banker, if h,
really wants to stay in business. a.
the triple A quality of his bonds
For, as Chief Justice Hughes sait
not long ago: While democrac,
must have its organization and con
trolls, its vital breath is individua
liberty. Without that the banke
will have to look for another Job.
The bankers function in an,
economy, no matter how fast it ma,
seem to be changing, is to protec
private property, promote legitimatI