Evening star., 1939-09-13

@"S"~%% National Bank,
E. NJ. Blackjack. Baltimore and
associate councilman of the Ameri-
can Institute Of Banking. was the
guest speaker. A former president
of Baltimore Chapter, he presented
the value of banking courses in
very convincing Light.
Ord Preston. president of the Dis
trict Bankers Association, spoke
briefly and Francis E. Robey, chap
ter president; Kenneth Birgfeld,
chief consul; J. Earle McGeary, pro-
gram chairman; Dean Raymon B.
Dickey, and John NJ. Christie, men,
bership chairman, outlined plans
for the coming year.
Changes in Banking Noted.
Mr.. Michel said that nobody
dreamed 10 years ago that three
fourthS of the banks would now be
having service charges, and many
banks would be making special ef-
forts to get 5000 and $500 personal
loans, that they would have enor-
NOUS surpluSes of idle funds or be
forced to meet countless other
changes that had never come up in
the past. 1t is to meet and solve
these new and unexpected problems
that education is more important
than ever, he asserted.
Mr.. Preston suggested that the
institute courses should go farther
and include special work in real
1in n
Thorough knowledge Of these sub
jects has become absolutely essen
tial to present-day banking, he de-
Clared.
During the evening c. H. Pope,
president of the Munsey Trust Co.
and former president of the Dis
trict Bankers Association. and c. B,
Upham, deputy controller of the
currency, were introduced.
AS already announced, Washing
ton Chapter will have an unusually
strong faculty again this year. In
dications also point to an eXcep-
tionally large enrolment. Every
bank in the city and several sub
urban banks were represented at
the meeting. That in itself shows
how much real interest is being
manifested in banking education.
The junior bankers today will be
the senior bankers tomorrow.
Bank Profits Up Sharply.
Controller OF the Currency Pres
ton Delano reports sharply increased
profits on sales of securities and
OF
profits of active national banks to
S13887O.000 in the first six months
of 1889 from S86O94,00O in the pre-
ceding six months.
Dividend declarations by the ma
tional banks increased to S70,216,-
900 the first half OF this year from
S67 ,582 900 in the siX-month period
ended December 81, 1888.
For the year ended June 80, 1899,
total net profits of the active ma
tional banks were 1924 4,95400O, as
against s20o, ,423, 900 in the 12 months
ended June 80, 1898.
Security Act Changes Explained.
District OF Columbia Chapter,
Chartered Life Underwriters, held
their first monthly supper meeting
since June at the Cosmos Club last
night. In line with their practice of
keeping abreast of subjects bearing
on life insurance, William r. Will
hanson, actuarial consultant of the
Social Security Board, discussed in
detail the recent changes in the So
cial Security Act.
The three local underwriters who
this year successfully completed all
the requirements of the American
College of Life Underwriters were
guests of the chapter, Roger l..
Baldwin, general agent of the
Northwestern Mutual; John l.. Nc
Elfresh, general agent of the Con-
necticut Mutual, and Robert w.
Castle, special agent of the Massa
chusetts Mutual.
Sets National Insurance Mark.
Raymond j. Denahan of the
Charles w Hackney Agency, Wash
ington of the Minnesota Mutual Life
Insurance Co., was the leading per-
sonal producer for the entire United
States in July, it was announced
today. The agency was second
among all the agencies of the COM
pany in new business in July and
had three men numbered among the
first 10 in the company, Mr.. Dena-
han, first; P. B. Sancomb, third, and
c. w. Hackney, sixth.
Bankers Heading Westward.
James E. Dulin, jr,, treasurer of
G.
was the first Washington banker to
start for the Seattle convention. He
left the city by motor. The other
Washington delegates will leave
later Some are awaiting further
war developments before making
the final decision as to taking the
trip. Several New York bankers are
planning to fly to the Coast to save
time.
Financial District Notes.
Bernard L. Amiss, assistant trust
officer of the Washington Loan &
Trust Co., returned to the bank to-
day from a vacation spent in New
Hampshire.
About $50 reservations, a new
IeCOrQ, nave Deen feCelVeu lOI IIle
annual dinner of the Womens Com
mittee, American Institute of Bank
ing, set for tomorrow evening at the
Mayfower
T. Hunton Leith, vice president
and cashier of the Security Savings
& Commercial Bank, returned to
the bank today following long ILL
ness. For several weeks he was
confined to Mount Alto Hospital.
Today's Trading on Exchange.
Twenty shares of Capital Transit
stock sold at 1872 on the Washing
ton Exchange today, followed by 10
more at 1875. The final bid was 13
with ID asked.
Ten shares of Lanston Monotype
stock appeared on the board at 44h