Evening star., 1940-02-09


The FEEDER al
c. L. Robey. Reserve Bank of
Richmond is contributing it's audi
torium for the meetings and is act
ing as host at luncheon on both
days of the conference The Rich
mond banks will entertain preceding
the banquet on the evening of the
goth, at which speaker of inter-
national reputation will address the
assembled bankers.
The entire time will be devoted to
problems affecting the employment
of bank funds and investment poll
Cies and programs, with a morning
and afternoon session each day. At
each session two Well-known speak
ers will talk on current subjects in
volving problems with which banks
are faced in investing properly and
profitably the huge sums of money
piled up by the Nations financial
houses today.
The Bond Conference Committee
is composed of C. L. Robey, presi-
dent Purcellville National Bank,
chairman; James w. McElroy, vice
president First National Bank, Bal
timore; E. G. Otey, president First
National Bank, Bluefield, W. Va; w.
r. Forster, vice president Hamilton
National Bank, Washington; R. P.
Holding, president First-Citizens
Bank & Trust Co., Smithfield, N c.;
F. E. Grier. president Bank of Green
wood, Greenwood, S. c.; consultant
to the committee, DR.. E. A. Kincaid,
consulting economist of the Federal
Reserve Bank of Richmond.
Steamboat Officials Elected.
Stockholders of the Norfolk &
Washington Steamboat Co. re-
elected all directors at the annual
meeting yesterday as follows: Edgar
N. Brawner, Wrisley Brown, G.. w.
Forsberg, William D. Hoover, G. F.
Norment, jr.; j. Allen Riordan,
George P. Sacks, Odell S. Smith and
Corcoran Thorn.
Later the Board of Directors re-
elected c. F. Norment, jr., president;
G. w. Forsburg, vice president; Odell
S. Smith, secretary-treasurer, and
j. Allen Riordan, general manager.
The following members of the staff
were also retained in Office:
w. H. Callahan, traffic manager;
I. S. Walker, general passenger
agent; J. A. Maxwell, auditor; G. E.
Herring, purchasing agent; D.
Sawyer, experimenting engineer;
c. H. Ray, general agent, Washing
ton; P. G. Minter, general agent,
Norfolk, Va; H. N. Larcombe, agent,
Alexandria, Va, and C. S. Revell,
Joint agent, Old Point Comfort, Va.
Insurance at All-Time Peak.
The amount of life insurance pro-
lection in force in the Connecticut
Mutual is now at the highest point
in the company's history, standing
at ST ,041 1855 ,204, an increase over the
previous year of s28765 PAS, accord
ing to the annual report of its
president just received by John L.
McElfresh, general agent in Wash
ington. Payments to policyholders
amounted to s27.958,706. New busi-
ness amounted to S91,785 ,229
Regarding social security, Mr..
Loomis says: The concensus of
opinion is that the social security
program has not been injurious to
the life insurance business Suitably
adjusted in respect to those who
bear the tax burden, as we'll as to
those who receive protection, it is
recognized as necessary part of
our national social life. Essentially
and fundamentally these are diff
ferent services. While they may
supplement each other, social Sc
curity is not substitute for life
insurance"
Eisele Heads Discount Firm.
Reporting substantial gains in
business for the year just ended,
stockholders of the Southeastern
Discount Corp. elected officers and
directors at their annual meeting
at 1407 K street NV. yesterday.
Lewis Eisele was reelected presi-
dent. Other officers reelected are M.
w. Bohrer, Charles Wilson, Harry
j. Donoghue, vice presidents; Paul
Chesley, executive vice president,
and Clifton M. Eisele, secretary
treasurer.
Bank Women to Meet Here.
Mrs. Chase Going Woodhouse, di-
rector of the Institute of Women's
Professional Relations, New London
Conn.,, will address sectional meet
ing of the Association of Bank
Women at the MayfloWer Hotel
tomorrow evening. The meeting
will cover Washington and the Mid
Atlantic division of the association,
many out-of-town guests being ex-
pected. Lillian M. Russ, regional
vice president, from New York, will
attend and Miss S. Winifred Bur-
well of the National Metropolitan
Bank will preside.
Bankers Congratulate Mckee.
Many Washington bankers called
H. H. Mckee, president of the Ma
tional Capital Bank, today and con-
graduated him on his birthday ami
versary. Word got around the flnan-
citl district this morning that he
had reached another milestone. Mr..
Mckee recently completed so years
connection with the National Cap
ital Bank, an exceptionally long
term of service. He is also presi-
dent of the East Washington Saw
ings Bank and chairman of the
Washington Clearing House Asso-
citation.
Heard in Financial District.
Constantine Brown, foreign news
commentator of The Evening Star,
will address a meeting of members
of the Virginia Bankers Association
at Richmond tomorrow. Mr.. Brown
will discuss the latest developments
In foreign affairs.
The Board of Governors of the
Washington Stock Exchange voted
TODAY to close the exchange next