Evening star., 1940-04-23
Conference Of A. B. A.
Council Watched
Closely Here
Fleming. Voss, Waller,
Addison and Needhom
Go From Capital
BY EDWARD C. STONE.

Washington bankers are following
with great interest reports from the
meeting of the Executive Council of
the American Bankers Association,
now being held at Hot Springs, Va,
this being the most important bank
ers gathering of the year outside Of
the annual convention.
Included among the Washington
bankers present are Robert " Flem-
ing, past president OF the A. B. A..
and president of the Riggs National
Bank, and George o Vass, a vice
president and cashier of the same
bank. who is member of the coun-
Gil; Wilmer j. Waller vice president
and cashier of the Hamilton National
Bank, who is very prominent in COM
mittee work and IN the National
Bank Division of the A. B. A., and
Francis G. Addison, j., president of
Security Savings g. Commercial
Bank, who is closely connected with
the Savings Bank Division and with
committees which are to present i'm
portant reports during the present
sessions. D. j. Needham, general
counsel of the A. B. A., is also present
from Washington headquarters.
The Executive Council is the
governing body OF the A. B. A. and
consists of more than 100 bankers
representing banking interests in the
48 States and the District of Co.
lumbia. The Washington delegates
looked for an unusually important
meeting. Reports are due from the
National, Savings, Trust, State Bank,
Secretaries Divisions and from many
commissions and committees.
Three of the most important re-
ports always come from the Bank
Management Commission, Commerce
and Marine Commission, Economic
Policy Commission and the Federal
Legislative Committee. The chair
men of these commissions, in the
order named, are j. Harvey Wilkin-
son, jr.; Fred I. Kent, Leonard P.
Ayres and A. L. M. Virgins.
While the sessions are all eXecu-
tive, good deal of information is
given out on the general banking
situation.
Exchange Listing Requested.
Application has been made by
Julius Garfnckel &, Co., Inc, for the
listing on the Washington Stock
Exchange of both the common and
preferred stocks. The company
would list for trading $4,000 shares
Of per cent cumulative convertible
preferred stock, with a par value of
$25 per share, and 110,O10 shares of
common stock, of no par value.
The stock was placed on the mar
ket several months ago when the
present firm was incorporated. 1t
is expected there will be a good deal
of trading in both issues. Up to
this time these issues have been
sold over the counter. The common
stock is now quoted at ga bid and
liz asked, while 26 is bid for the
preferred stock and % asked.
Trading in the two issues will
start on the Washington Exchange
in about a month, following ap-
proval by the Securities and Ex-
change commission.
Lincoln to Address Bankers.
G. Gould Lincoln, The Evening
Stars political commentator, will
address the Fiduciaries Section of
the District Bankers Association to-
morrow evening at a meeting at the
Columbia Country Club. He will
speak on the general political out
look and give consideration to some
OF the candidates who are expected
to be put forward at the coming ma
tional conventions.
The Fiduciaries Section will also
hold its annual election of officers at
this time, with the chairman,
Bernard L. Amiss, of the Washing
ton Loan & Trust Co., presiding.
Many of the section members will
60 out early and devote the after
noon to golf, at the same time de-
veloping an appetite for dinner.
DR.. William M. Deviny. associate
professor of economics at Catholic
University, will address the April
meeting of the District of Columbia
Control of the Controllers Institute
of America on the subject of Church
Accounting, It's History and De-
velopment, Current Methods and
Procedures. The meeting will COM
mence with dinner al the Carlton
Hotel at $50 tonight. Humphrey
Lloyd of Washington Properties, Inc.
president of the local control, will
preside.
Washington Chapter, National As
sociation of Cost Accountants will
hold the April dinner Thursday eve
ming at the Hamilton Hotel, followed
with an address by William w.
Werntz, chief accountant Securities
and Exchange Commission. Laurence
E. Skees Of the Federal Reserve
Board will be technical chairman.
Financial District Comment.
Granville E. Jacobs of New York is
conducting a course on customer
relations this month for officers and
employees of the National Savings &
Trust Co. The members of the trust
company's club recently entertained
the directors and officers at a buffet
supper at the Willard, after which
the members of the group were guests
of President Bruce Baird at a per-
formance of Wirth's Circus, given for
the benefit of Children's Hospital.
Scientific aptitude tests are now
being used by the Connecticut Mu-
tual Life to determine whether a
man or woman is fitted for the life
insurance business, Fred o. Lyter,
assistant superintendent of agencies
for the company who is in Wash
ington this week visiting the John
Lister McElfresh Agency, reports.
Every applicant must take this test,
and only those who attain a certain
grade are considered for the business
T. Stanley Holland, second vice
president of the District Bankers
Association, and A. S. Offutt, chair
man of the June convention Gen.
eral Committee, will represent the
association at the meeting of the
Safe Deposit Section at tomorrow
nights dinner at the Lee House. G.