Evening star., 1940-10-16

tion after 80 Hans W. Ireland.
years banking experience. He start
ed his financial career as a run
ner with the Home Savings Bank
in 1908, served that institution in
various capacities until 1913. when
he was made manager of the South
west branch.
In 1917 he was elected as assistant
treasurer and year later was
placed in charge Of the Northeast
branch Following merger of the
Home Savings Bank with the Amer
lean Security & Trust Co., Mr Ire
land continued as an assistant
treasurer with the trust company.
Mr.. Ireland has served as chair
man of the Executive Council OF
the safe deposit section of the Dis
trict of Columbia Bankers Associa-
ton and last May was made chair
man of the Publicity Committee of
the National Safe Deposit Council.
He is a graduate of the American
Institute of Banking and from time
to time has served on various COM
mittees of the local bankers asso-
citation.
He is a member of the La Fayette
Lodge of the Masonic Fraternity
and is currently serving as assistant
treasurer of the National Library for
the Blind Mr.. ireland was elected
treasurer to fill the vacancy created
by the recent resignation OF James
G. Dulin, jr.
Auditors Attend Convention.
Washington bank auditors and
controllers are attending the 18th
annual convention of the National
Association Of Bank Auditors and
Controllers which opened in st.
Louis for a four-day session. Mem
bers of the auditors section of the
District Bankers Association are
particularly interested in and closely
affiliated with the national organi-
zation. Arthur j. Linn is a past
president of the organization.
The Washington delegation in
cludes Raymond G. Marx, controller
Of the Riggs National Bank; Arthur
]. Linn, controller, Hamilton Ma
tional Bank; ]. Arthur Cromwell,
auditing department. Union Trust
Co, and James D. Barrett, auditor,
American Security & Trust Co. The
delegates left here late yesterday.
The St. Louis program calls for
q study of auditors and controllers
reports as an aid to management.
installment loans. audit and control;
mortgage loans, audit and control;
objectives Of banking supervision.
trust audits and controls. educating
the bank auditor and kindred sub
tects. The speakers include lead
ing bankers and others.
Convention Plans Pushed.
Another convention drawing
Washington attention is the COM
Ing gathering of the Financial Ad-
vertisers' Association. opening at Hot
Springs, Va, a week from next
Monday, after an early birds get
acquainted" party at the Homestead
Sunday evening.
Latest announcements include an
elaborate entertainment program
for the wives of the members and
other guests. according to President
Stephen H Fifield 1t was learned
In the financial district today that
many delegates making reservations
have not previously attended these
gatherings and it is interesting TO
note that in this list are about 20
bank presidents.
Robert M. Hanes, retiring preSl-
dent of the American Bankers As
sociation, will be one of the chief
speakers The convention will also
hear Donald A. Davis. president of
General Mills. and Price Gilbert,
advertising manager of the Coca
Cola Co., Atlanta, Ga. An innova-
ton will be an advertising school,
conducted by Hartford Powell of New
/ York City.
Robert L. Flather, assistant secre-
tary, American Security & Trust
Co.. this city. is chairman of the
Reception Committee; Eliot H.
Thompson, Washington Loan &
I Trust Co., chairman Of the Trans
, portation Committee; while Lewis
r. Gordon, Citizens & Southern
National Bank, Atlanta, is in charge
of the program.
Banks Protest Hour Ruling.
A. L. NJ Virgins, chairman of the
Federal Legislation Committee of
the American Bankers Association.
has made an official protest against
the recently announced Wage-hour
decision by Col. Philip B. Fleming,
administrator of the Fair Labor
Standards Act, on the ground that
these rulings give no relief to some
, 10000 small banks, although they
are almost entirely local service in
stitutions." He asks for reconSidera-
ton of the rules so far as they apply
to small banks and banks in small
communities.
Today's Trading on Exchange.
There was heavy demand on the
Washington Stock Exchange today
for Capital Traction 5s. The mar
ket opened with five $1,000 sales at
1O4s4, followed by $500 sale at
1O45s and two $1,000 closing sales
at 104a4.
Riggs National Bank common
stock sold at 27412, against the last
previous sale at 1858 Potomac Elec-
trio Power 51a per cent preferred
moved at ia.
Net earnings of the Chesapeake &
Ohio Railway in the first nine
months of this year equaled S3.l4
per share on the common stock,
against S198 in the like period
year ago.
Insurance Leader HonOred.
Henry G.. Mosler, chairman of the
Million Dollar Round Table, was
guest of honor at a luncheon meet
ing of the Washington agency of the
Mutual Benefit Life of New Jersey
this noon at the University Club.
Mr.. Mosler, who has been the
leading life insurance producer OF
Los Angeles for a number of years,
has entered the United States naval