Evening star., 1942-09-11


ing students. John A. Reilly,
The program of the dictators in
volved the narrowing down of the
scope of education so they could
more easily regiment the minds of
youth, Mr. Reilly said. BY this
simple process, the people of Ger
many, Japan and Italy were reduced
to slavery.
Our armed forces and industries
will require mechanical units to win
the war" he added, but If we are
to enjoy the blessings of ultimate
peace and victory we cannot tolerate
mechanical minds now or hereafter.
AS bankers we must assume the role
of protecting and defending the
most important of all fronts in this
war-the economic front.
"As the managers of money be-
longing to our people, we have an
important responsibility at this
tragic hour. Money which loses its
purchasing power might just as well
be relegated to the attic or for
warded to coin collectors as SOU
venirs.
THE real value of money is when
II serves as medium of acquiring
goods and meeting human needs.
When it fails In this capacity, in
fiation is present and the economy
is definitely impaired Mr.. Reilly
concluded.
Fall Faculty Announced.
George B. Earnshaw, educational
chairman, announced that Ralph
Endicott, Washington Loan & Trust
Co., and Paul j. Seltzer, American
Security & Trust Co.. would conduct
banking / courses during the fall
term. Wilbur Baughman of the
Federal Trade Commission will
teach law II and DR.. Elmer Louis
Kayser, George Washington Uni
versity dean, will offer course In
current events.
George M. Rowzee, president of
Washington Chapter, presented
graduation certificates in the pre-
standard course to Wallace H. Helm,
Riggs National; Earle D. Miller,
Bank of Bethesda. and Raymond
e. Sparks, Lincoln National.
In the standard course certificates
were awarded to James E, Lunson,
Riggs National; Ralph E. Riggs,
foreign funds control, United States
Treasury; Frank E. Skinner. Riggs
National; Miss Alma K. Sprouse,
First National, Alexandria; Miss
Dorothy E. L. Tuttle, Bank of Com
merce g. Savings. and James l..
Young, jr, American Security g.
Trust Co. Miss Tuttle also was
given a certificate in the graduate
course.
Special Awards Made.
The Charles j. Bell Trust Fund
Award went to Wallace H. Helm and
Raymond E. Sparks. The three
scholarship prizes offered by the
District of Columbia Clearing House
Association were presented by Mr.
Rowzee to Alma K. Sprouse, first
James E. Lunson, second, and James
L. Young, jr., third.
Mrs. Gertrude C. Wick, president
of the Bank Women's Club OF
Washington, presented their award
to Miss Alma K. Sprouse for having
the highest average of any woman
In the pre-standard and standard
courses in 1912. Miss Sprouse also
had her name inscribed on tbs
w. w. Spaid Memorial Plaque fol
the highest general average, the
first woman to receive this honor.
Other speakers were DR.. Eliot H
Thomson, Washington Loan g. Trus
Co., dean of the faculty: B. Bruce
Frantz, American Security g. Trus
Co., chairman Program Committee
Kenneth Hulse, Hamilton National
chief counsel, and Robert G. Cries
American Security & Trust Co.
chairman, membership.
Potomac Power Bonds Sold.
The syndicate headed by Kuhn
Loeb e. Co., which purchased tn,
$4,000 issue of Potomac Electri,
Power 3A per cent bonds, has beer
terminated and the unsold bond
have been placed with a few institu
tional buyers, it was announced from
New York today.
The bonds were placed on sal
earlier this month, following com
petitive bidding In which several bi;
New York firms were awarded tn
bonds. The bonds were offered a
113. 1t was reported here severa
days ago that the bonds were bein
taken largely by institutions rathe
than by individual investors.
The Potomac Electric Power Ct
is already using the proceeds of tn
sale for war expansion purposes.
Capital Resident Honored.
George E. Reynolds, Eastern dis
trict manager of the Marmon- Her
rington Co., Inc, with an Office il
the Transportation Building. ha
been elected vice president of tn
company The firm supplies truck
and other war equipment to tn
Allied Nations headquarters bein
In Indianapolis.
Mr.. Reynolds is former chairma
of Washington Chapter, Society c
Automotive Engineers, and is no.
on the Governing Board.