Evening star., 1940-10-30

Pru d en- tia l
&S'sM SN% < Building AsSo-
VIM. n. Payne, Jr. citation, recon-
mended that all officers and direc-
tors who have served the association
during the past year, be reelected.
The motion was adopted.
Wilfred H Blanz, American Build
ing Association, was reelected vice
president; Millard T. Dixon, Ma
tional Permanent, treasurer, and F.
Wilson Camp, District Building and
Loan Association, secretary.
Directors Also Elected.
Directors in addition to the Off
GERS include Clarence E. Kefauver,
Edward K. Jones, George M. En-
merich, R. w. Santelmann, Martin
A. Cook, Edward L. McAleer and
the past presidents of the league.
The report of the secretary dis
closed that a total of las .585 ac-
counts are now served by the local
associations, while combined assets
of over s154,OOO,OOO are at an all
time high.
Delegates to the national conven-
ton of the United States Savings &
Loan League, to be held in Chicago
the week of November II, we're ap-
pointed. Led by c. Clinton James,
the group will consist of R. w. San
telmann, F. Wilson Camp, w. N.
Payne, jr., and Martin A. Cook.
The election took place before
the dinner which was followed by
an address by Dean Elmer L. Kayser
of George Washington University on
"After the War-What?" DR.. KaySer
gave a very comprehensive picture
of the European situation as he
views it. In conclusion, he said:
Kayser Views War Problems.
"The present war is bound TO
differ from most wars in that in its
present form the conclusion of hos
tilities would involve the victory of
Germany or the acknowledged
ability of England to defend itself
or wholesale continental revolution.
In the first place, England would
become state in about the present
state of Holland, with her dominions
adrift. In the second case, England,
having no continental ally could not
undertake wholesale continental ad-
justments. If the third eventuality
were to occur, general peace con-
ference would have to redraW every
frontier in Europe.
"A peace will mean that as far
as Europe goes, the old system Of
national states is at an end. For
economic reasons, new Europe of
zones, drawn with reference to raw
material, organization of industry
and agriculture and transportation
would probably result. Any attempt
to reconstruct old political lines
would mean tariff barriers and ma
tional economic competition on a
scale hitherto unknown. During
period of adjustment at least, a
barter system would be tried. This
would react most diSaStrously on
trade with states outside of Europe.
The release of millions of men
from military service would produce
the greatest wave of unemployment
ever seen. An attempt to pull these
back again into industrial and agri-
cultural activity by increasing pro-
duction for a barter market would
force many non-European nationals
to relinquish international trade or
- ;y,
scale of living"
Fall Bank Call Omitted.
While the controller of the cur
rency never makes any announce
ments regarding calls for condition
statements by the banks, it can be
stated on the best of authority that
the expected call in late September
or in October is to be omitted.
The next call will come at the end
of December, the conclusion of the
calendar year. The law states that
three calls year must be issued.
The usual calls were issued in the
spring and at the end of June. The
December call will be the third.
Had a call been issued at this
time, the Washington banks would
have reported something like S400,-
100000 in aggregate deposits, the
highest point ever reached.
At the end of June, Washington's
% banks had more than 1894 100000
on deposit. Deposits are known to
have been climbing since that time.
Reports from other parts of the
country indicate many gains in de-
posts in all classes of banks.
Christie Among First Drawn.
Robert Curtis Christie, who is
employed in the National Savings
& Trust Co., held the number 158,
the first drawn in connection with
selective military service. Mr..
Christie resides in Montgomery
draft area No. 2, at Silver Spring,
Md. He is a brother of John M.
Christie, who is connected with the
Riggs National Bank; is a student
in the American Institute of Bank
ing and chairman of the Publicity
Committee this year.
Heavy Trading on Exchange.
The heaviest trading in months
took place on the Washington Stock
Exchange today. The first trans
action was a sale of 35 shares of
Riggs National Bank common stock
at 27O, followed later by a sale of
so more shares at. the same price.
The last previous sales were at 275.
Capital Transit stock opened with
four 50-share sales, all at Is, against
sales last week at 1912. Later in
the session two 100-share sales were
recorded and 40-share lot, all at Is.
Lanston Monotype appeared on
the board, 30-share lot selling at
225s, off from yesterdays sale at "a.
Mergenthaler Linotype, which
moved up to 81 yesterday, was quiet
today, with 2oa4 bid and 2114 asked.
The monthly cross-index of the
ge- aral trend of business, prepared
h -anking from poll of 5000