Evening star., 1941-09-12

nresent world conditions. 1he
world conflict takes basic form
which is neither military nor diplo-
matte but economic, he said. To
meet the new economic require
ments, great responsibility Is
nlaced upon students OF banking,
a role far more important than tnat
played by the average citizen ne
said.
Bankers are the cuStodianS OF the
individuals treasure, the economic
craftsmen through whose handS
money is translated into value. BY
dealing with individuals, bankers
are also dealing with the wealth OF
society. The machine doing the
work is the bank, complicated and
highly technical organization, which
requires great intellectual training
in leadership.
Thomson's Service Lauded.
DR.. Kayser deeply regretted the
absence of Eliot H, Thomson, OF
the Washington Loan q Trust Co.
dean of the Institute faculty VINO
is now i'll and has resigned from
the faculty after many years OF
most valued service He called Mr..
Thomson an exceptionally brilliant
teacher.
Kenneth Brgfeld, American Sc
curity g. Trust Co, first vice presl-
dent of the chapter and chairman
of the educational committee, in
troduced DR.. Kayser and the other
speakers, including T. Stanley Hol-
land. president of the District
Bankers Association; John NJ. Chris
tie. president of the chapter; Fred
erick Daum, chief consul; and
George n. RoWzee, chairman OF the
program committee.
Among the guests we're john M.
Reilly, first vice president OF tne
District Bankers Association; c. B.
Upham, deputy controller Of the
Currency: and Frank A. Birgfeld,
chief clerk. Treasury Department.
This years faculty will include
Ralph Endicott. Washington Loan
g. Trust Co.: Paul J. Setter, Ameri-
can Security & Trust Co.: Wilbur
M. Baughman. Federal Trade Com
mission; Peyton A. Kerr, George
Washington University; D. l..
Mitchell, partner in accounting firm.
and James D. Cushman. dean OF
accounting, Columbus University.
Many Changes in Personnel.
President Christie reported that
during the last year about 500 new
emploves have been added by Wash
ington banks. The two chief reasons
for the extensive changes in per-
sonnel are the draft and Govern
ment competition, he said, adding
that this situation makes the work
of the chapter more important than
ever
Chairman Birgfeld announced
that J. Earle McGeary OF the
Hamilton National Bank will be
chairman of the committee seeking
the election of w. L. Sanderson to
the executive council of the national
organization. He will be assisted by
Edward M. Blaiklock. Washington
Loan g. Trust Co., and Paul j. Seltz-
er. American SECURITY & Trust
1t is the first time in 13 years that
the chapter has had a candidate
for this Office, T. Hunton Leith be-
ing elected at that time.
Smith Notes Business Boom.
Fred A. Smith, president of the
Washington Board of Trade, ad-
dressed the E. j. Clark Agency Of
the John Hancock Mutual Life In
surance Co., at a dinner last eve
ming at the Columbia Country Club,
on Business Conditions in Wash
ington." Mr.. Smith quoted figures
from the files of the Washington
Board of Trade, as follows:
AS of April. 1910. there were 907,816
people in the Metropolitan Area.
Check transactions on the Wash
ington Clearing House Exchange
had increased from 93,500,000 in
January, 1888, to almost 150,000,000
in June, 1941 The Federal Reserve
Boards department store index has
increased so per cent in the past
two years, indicating that retail
sales in the Metropolitan Area will
total more than $600000,000 this
year.
In 1893 there were approximately
5000 family dwelling units con-
structed in the Washington Metro
politan area; in 1899. 10000 units
were erected in 1910, $4,000, and
during the first six months of 194l.
nearly 1000 units, Mr.. Smith said.
Mr.. Smith presented many other
figures which he said showed clearly
ington available for the purchase
OF life insurance than ever before.
Securities Dealers Meet.
Members of the National ASsocia-
ton of Securities Dealers, Inc, are
holding a fall conference at the
Oyster Harbor Club on Cape Cod.
The meeting is being attended by
Wallace H. Fulton, executive secre-
tary of the National Association;
James Parker Nolan, chairman of
the southeastern group, and Murray
Hanson, all of Washington.
The Federal Reserve Board an
nounced today that retail trade in
the fifth district from January to
September was % per cent ahead
of last year, the best showing in the
IL districts. Cleveland and st.
Louis came next, with 81 per cent
pickups.
William D. Hoover, chairman OF
the Board of the National Savings
& Trust Co, has gone on a fishing
trip In the vicinity Of Cape Charles,
Va.
Capital Transit in Demand.
Capital Transit stock was active
on the Washington Stock Exchange
today, opening with four 25-shart
sales and one of Is shares at the
recent high of 1914. The market
closed with 100 shares selling at IS
Washington Gas Light common
appeared on the board with a TO-
share sale at 81.