Evening star., 1941-05-20
Large Attendance
Expected al A. |. B.
Convention
About ! 500 Delegates
And Guests Will Go
To Sun Francisco
By EDWARD c. STONE.

nual convention Of the American In
stitute of Banking at San Francisco
June 2-6 it was learned here today. |
Speakers at the general sessions
will include P. D. Houston, president
of the American Bankers ASSocla-
ton. Robert D. Sproul, president OF
the University of California; Harold
Stonier. executive manager of the
American Bankers Association; Will |
liam A. Irwin, national director of
the institute. also vice president of |
president of the Trust Co. of Geor-
gia at Atlanta.
Many departmental and institute
conferences are on the program, the
discussions to be informal ana
thrown open to all the members.
George T. Newell, vice president OF
the institute also vice president OF
the Manufacturers Trust Co, New
York, is in charge of the program.
The Washington delegation to the
West Coast will be very much Inn
tied. It will include two members
of Washington Chapter, I. J. Rob-
erts, an assistant cashier OF the
Riggs National Bank who has at
tended an unusually large number
of these gatherings and addressed
several of them.
The other delegate will be John
M. Christie, also an assistant cash.
Ter at Riggs National, who was re-
Gently elected president of Wash
ington Chapter for the coming year.
He will be accompanied by Mrs.
Christie. The Washington delegates
will leave here next Saturday, join
Ing Baltimore. Philadelphia and New
York delegates on the train at Chi
cago.
Fiduciaries Section to Meet.
The final meeting of the year of
the fduciaries section of the Dis
trict Bankers Association will take
place at the Washington Golf and
Country Club. next Tuesday, Sec
retary Aubrey o. Dooley announced
today.
Theodore Cogswell register OF
wills for the District of Columbia,
will be the guest speaker. He will
discuss matters of special interest
to the trust group. Committee chair
men will also render their annual
reports. Henry K. Dierkoph Will
preside.
For the Executive Council. the
Nominating Committee has named
the following members, five OF whom
will be elected at later date:
j. Wesley Clampitt, jr.. Union Trust
Co; Aubrey o. Dooley, Hamilton
National: Earl G. JonsCher, Amer
lean Security & Trust Co.; Lester A.
Lawrence. National Savings & Trust
Co: Vincent A. Sheehy, jr, WASH
ington Loan & Trust Co.; w V.
Simmons. Liberty National; Thomas
n. REYNOLDS, National Metropolitan;
Ralph G. Wilson, National Bank OF
Washington; Edwin B. Shaw, Riggs
National, and A. J. Byrne, Munsey
Trust Co.
J. Wesley Clampitt, jr., is slated
to be the next chairman, succeeding
Henry K. Dierkoph. it was said IN
the financial district today.
Common Stock Dividends Rise.
In the first three months of l94l
companies represented on the New
York Stock Exchange paid common
stock dividends amounting to ap-
proximately s437 ,4O7 ,0O0-up more
than 8 per cent from the CORE
spending period of 1910. The larger
dividends were widely distributed,
SAYS the exchange magazine.
The largest gains, percentageWlse,
were in these industries: Steel, up
13l per cent with United States
Steels 81 dividend counting heavily
in the increase; mining, Sc per
cent; amusement, 80 per cent; build
ing, % per cent; textile, % per cent.
Thirty-one more companies paid
dividends on their common shares
in the first three months of this
year than in the same period III
1910. With this improvement the
total number of dividend-paying
common stocks on the New York
Stock Exchange may come to more
than 500 issues in 1941-or approx
imately 70 per cent of the entire
common stock list.
Dividends we're higher also among
the preferred aggregating
pproXimately S81 AL 900 for the 263
preferred issues which made dis
bursementS in the first three months.
The indicated increase over the first
quarter of last year is about 10 per
cent.
GarfinckeI Dividends Voted.
Directors of Julius Garflnckel &
Co. Inc, have declared the regular
quarterly dividend of 37l2 cents
per share on the company's pre-
stockholders of record June IA, and
the regular quarterly dividend of
17l2 cents a share on the company's
common stock, payable June 30,
also to holders of record June IA,
1t was announced today.
CIearingS Committee Meets.
Members of the Executive Com
mittee of the Washington Clearing
House Association held a meeting
late yesterday al which the pro-
posals for changing and spreading
out Government pay days were
fully discussed. Yesterdays meet
ing was very informal, as there are
no definite indications yet that
Government pay days really will
be changed, one banker said after
the meeting.
1t may be stated however, that
bank officials are against any change
in pay day dates that might call
for four late days" a month, in
stead of the present two days when
the banks are kept open overtime.
The reason, of course, is the 40
hour week.
Bonds Lead Exchange Trading.
The first transaction in City &
Suburban 3a4s since their recent
listing on the Washington Stock
Exchange took place today, when a