Evening star. [volume] (Washington, D.C.) 1854-1972, 1940-09-25

SohVuIy udllhlllS experience, ana Is
Known AS one of the ablest financiers
IN the South. Only one other native
OF Tennessee has headed the A. B. A.,
Thomas R. Preston of Chattanooga
Mr.. Houston's most valuable work
In banking was at the time of the
banking crisis in the early '30s when
he brought about bank mergers
which saved bank patrons a great
deal Of money.
At that time he went far beyond
the usual concepts of bank official.
He worked as hard for stricken bust
ness concerns and for small country
banks as he did for individuals. To
this day host of depositors consult
him about their personal finances
and bring important business prob
lens to him, always following his
guidance.
His methods have been most sue
cessful in bringing the deposits in
his bank from S29,000000 in 1888 to
$1,000 900 in 1910. The records re-
veal that his bank in one depression
year loaned sl6000,000 to more than
5000 local borrowers to keep the
wheels of industry and agriculture
turning. At the same time he took
an important leadership in bolster
ing State finances and restoring
confidence.
Strong For Education.
Mr.. Houston was leader in the
Tennessee Bankers Association be-
fore he became absorbed in the
A. B. A. In the national organiza-
ton. he has been on the executive
council. served on many committees
and been chairman of the Bank
MANAGEMENT Commission. His
friends are sure he will be a very
active A. B. A. chief. somewhat like
Mr. Hanes. He has the happy faculty
OF remembering names and faces.
Years ago he served two terms on
the Advisory Council of the Federal
Reserve System. Today he is
director in many big corporations,
an elder and deacon in the Christian
Church and serves on the boards of
both Vanderbilt University and Fiske
University in Nashville. While he
shortened his own education to enter
business. Mr. Houston believes it is
about as important for clerk or
teller to equip himself with knowl-
edge about banking as for doctor
to take a medical course before
starting practice.
Mr.. Houston holds all the latest
ideas on public relations. wants the
public to know more about banking,
and believes bankers can profit
great deal by further research in
their chosen field He favors the
dual system of banking, against a
unified system or a Nationwide
branch banking system. And when
the new A. B. A. leader takes time
off he goes out to his 800-acre farm
and has a look at his prize herd of
cattle. His chief hobby is that farm.
Bankers Honor Col Harper.
President A. M McLachlen of the
District Bankers Association. from
Atlantic City, appointed the follow
ing association members to repre-
sent the organization at the funeral
of Col Robert N. Harper, for so
many years a bank president and
otherwise active in the financial
district:
E. c. Graham, president, Hamil-
ton National Bank; Joshua Evans,
jr., vice president, and c. H. Gockel-
er. assistant vice president; Corco-
ran Thorn, president, and Howard
Moran, vice president, American Sc
curity & Trust Co.; H. H. Mckee,
president, National Capital Bank;
Floyd E. Davis, president, Lincoln
National; Victor B. Deyber, chair
man. Second National, and A. Scott
Offutt. vice president. City Bank,
and third vice president of the
bankers association.
Most of these men were close
friends of Col. Harper when he was
an official in the association.
Nominating Committee Named.
William N. Payne. jr., president
Of the District Building and Loan
League, announced yesterday that
the annual election of officers and
directors will take place at the Oc-
tober 90 meeting and appointed the
following members to present the
slate: R. w. Santelmann, Carl J.
Bergman, S. S. Symons and E. J.
Carlson. Election will feature
dinner meeting at the Raleigh
Hotel
Morton Bodfsh. executive vice
president of the United States Saw
ings and Loan League, was the guest
speaker at yesterdays meeting He
referred to the recent report of the
national treasurer, which showed
that the Perpetual Building Asso-
citation is still the largest in the
United States and that there are 10
Washington associations with assets
above the s5,000000 mark. The
others are the American. National
Permanent. Washington Permanent,
Equitable Cooperative. First Fed
eral. Oriental. Metropolis. Northern
Liberty and Columbia.
Heard in Financial District.
Nathan Poole, an officer of the
American Co., real estate firm. has
been admitted to the National As
ISOLATION of Cost Accountants. He
graduated from Benjamin Franklin
University last June, and. in addi-
ton to his master of commercial
science degree, received an award
emitting him to the above member
ship. He is already member of the
Institute of Real Estate Manage
ment and the Washington Real
Estate Board.
One hundred shares of Julius Gar
finckel preferred stock sold at 2612
on the Washington Exchange today,
up half a point from the last pre-
vious sale and establishing new
1910 high mark.
Capital Transit registered a AZ
share sale at II. unchanged and 20
shares of Washington Gas Light
common stock changed hands at Is,
also unchanged.