Evening star. [volume] (Washington, D.C.) 1854-1972, 1940-08-23
Noted Bankers Added
To LIST Of Speakers
For A. B. A. Conc|ave
Record Delegation
Is Now Expected
From District Banks
BY EDWARD c. STONE.

DN hhD " oANLs
Walter B. French, the American
Bankers Association deputy man
ager in charge of consumer credit,
who addressed the District Bankers
Association at Hot Springs last
June, will be one of the speakers at
the A. B. A. Convention at Atlantic
City in September. according to new
announcement regarding speakers.
William A. Irwin, national educa-
tional director of the American In
stitute of Banking, also well known
here. is on the list; as is Paul F.
Cadman. the associations eCono-
mist; Gilbert T. Stephenson, trust
research director: William Powers,
director of customer relations. and
Ernest M. Fisher, director q re-
search in mortgage and real estate
finance.
Among the bankers on the four
day program are Harry R. Smith,
assistant vice president of the Bank
of America, San Francisco; j. l..
Dart, vice president of the Florida
National Bank, Jacksonville; Ebert
S. Woosley, Louisville Trust Co.;
w. Randolph Burgess, National City
Bank, and Robertson Griswold. vice
president of the Maryland Trust
Co, Baltimore. Louis w. Bishop,
cashier. State Planters Bank & Trust
Co. Richmond, is also on the pro-
gram
Current banking problems will
draw special attention from a host
authorities on both banking and eco
Monies. Reports by important COM
mittees and special meetings of the
different divisions will add greatly
to the general value of the conven-
ton.
The Washington delegation, now
nearly completed, will be one of the
largest attending an A. B. A. con-
clave in years.
Market Outlook Held Better.
c. E. Merrill. senior partner in
Merrill Lynch, E A. Pierce g. Cas-
satt, New York Stock Exchange firm
which maintains Washington
Office, said today that in this coun-
try. as we'll as in England, there is
q feeling of relief and more conf
dence in the ability of the Royal Air
Force to continue to stand off Ger
man aerial attacks The London
Stock Market has been more cheer
full in recent sessions and the tone
of the New York market has been
eppreciably better, he points out.
Mr.. Merrill places investors and
spectators in three groups, those
who cling to the sidelines for a
clearer view of the outlook; those
who believe Hitler is irresistible
and those who believe Hitler will
never gain permanent air control
of England, although he might con-
troll some locality for a brief period
Mr.. Merrill says he belongs to
the third group. If this view is
correct, then equities are cheaper
in relation to assets. earnings and
earnings outlook, than they have
been in long while" he says. His
statement refers to long term pos
sibilities. he adds, knowing that
1.-THE present market can hardly be
described as an attractive day-to-
day trading affair"
Gas Trustee Asks for Funds.
The trustee for the Associated Gas
e. Electric Co. was to appear before
the Securities and Exchange Com
mission this afternoon and ask per-
mission to borrow funds for con-
tinuing the work of reorganization
Edward F. Colladay and other
members of the General Protective
Committee for Security Holders were
to appear in support of the appeal
The committee, of which the Wash
ington attorney is member. repre-
sents holders of S59,O0O000 fixed
interest obligations of the company.
Members of the committee agree
that the trustee is being handi-
capped by lack of funds for the
reorganization work.
Two Washington firms-the Bea-
con Sign Co. and the Regal Neon
Sign Co.-have been elected to mem
bership in the National Sign Asso-
citation. with headquarters in Den
ver it was announced here today.
In joining the association all mem
bers have to agree to carry on high
practices in sign advertising and not
to erect signs in any position where
a reasonable-m minded person would
be justified in Directing.
Depositors to Get Interest.
Announcement by Receiver Fred
erick j. Young of the United States
Savings Bank that the remaining
assets will be sold at auction on
October | means the depositors, who
have already been paid their deposits
in full. will also get some interest
on their accounts What the assets
bring will determine the amount.
The book value of the remaining
assets is reported as S325,000, but
the estimated" value is only Sl51,-
OOO The proceeds of the sale will
be divided among 5000 former de-
positors.
To date, depositors have received
total of 81 ,627 900. However, there
are still about 1900 depositors who
have not filed claims for their de-
posits, making an aggregate total
of about $4,000, according to Mr..
Young.
Receiver Young still has the bank
building at Fourteenth and U streets
and about $50 900 in cash. Strange
to say, checks have been drawn for
1900 former depositors who have
never called for them.
Heard in Financial District.
Clarence F. Burton, president OF
the City Bank, is another Washing
ton financier now on vacation, pass
ing part of his time at Upper
Saranac Lake, N. Y.
Albert S. Galley, executive vice
president of the Lincoln National
Bank, is on a tour of the White
Mountains and is now at Concord.
N H.