Evening star., 1942-04-09
Capital Financiers
10 Attend Meeting
OF A. B. A. Council
Banking in Wartime
To Feature Sessions
At French Lick
BY EWARD c. STONE.

executive council of the American
Bankers Association. to be held al
French Lick, Ind, April 1922, il
was learned in the financial district
today Those who have already
made reservations include:
Robert v. Fleming, former presi-
dent of the A. B. A., and now q
member of the advisory committee
on special activities.
Charles H. Doing. member of the
Executive Council of the A. B. A.
representing the District of Co.
lumbia
Wilmer j. Waller. member of the
A. B. A. pational defense loans
committee, representing the Fifth
Federal Reserve District
Francis G.. Addison, jr., member OF
the A. b A. legislative council, rep
resenting the District of Columbia
D. j. Needham, general counsel
A. B A: j. o. Brott, assistant
counsel. and Ernest M. Fisher, di-
rector of research mortgage and real
estate finance
The council will take up host OF
matters pertaining to wartime bank
ing and hear important business and
legislative reports.
Loan Officers Are Elected.
The 5lst annual meeting of share
holders. Northern Liberty Building
Association. was held yesterday at
the company's headquarters, 5l1
Seventh street NV. The report of
the secretary, E. M Emmerich, dis
closed that the past years opera
ton was satisfactory, with total re-
sources climbing to new high OF
S6,208,410.
All officers and directors were re-
elected. In addition to E. M. En-
merich other officers are William C.
Zimmerman, president; Harry E.
Allen. vice president, and George
M. Emmerich, treasurer.
Directors are Alvah Godding,
Charles w. Botsch, H. M. Packard,
George w. Huguely, jr.; George B.
Mullin, jr., and the officers.
Northern Liberty is a member of
the Federal Home Loan Bank Sys-
tenn, United States Savings and
Loan League and District of Colum-
bia Building and Loan League.
Brokers Study Tire Status.
The Washington Office of Merrill
Lynch, Pierce, Fenner & Beane is
distributing a most interesting and
comprehensive survey OF the auto
mobile tire situation, made through
the firms 90 branch Offices.
Replies to questions indicated that
about one out of every three motor
lists has a new spare tire and a large
number of motorists own one or two
used spares. The number of new
spares suggests very little boarding
of tires. The replies to question:
naires indicate that the average
motorist expects to drive for another
year on the tires he now owns.
A majority of motorists expect to
cut down their driving this year by
perhaps Is per cent. A high per-
centage expect to continue to drive
to work. People in the South have
relatively fewer new replacement
tires and tires on cars are in rela-
titvely poorer shape.
There is the least "hoarding" in
the Southwest and fewer people in
the Northeast plan to reduce driv-
ing, although gasoline rationing may
change their plans, the survey says.
Capital Man Selected.
A Washington neWspaperman,
William F. Aroogast, who is assigned
to the House of Representatives As
sociated Press staff, has been Sc
lected by the Home Life Insurance
Co., New York, to personify the
average policyholder, his picture ap-
pearing on the cover of the annual
report. He was named because of
age, family responsibilities and
amount of insurance owned.
The company'S annual report is
addressed to him and the other pol
icyholders. 1t shows an extra fine
years business.
Quarterly Dividend Voted.
Directors of the Washington Loan
& Trust Co. yesterday declared a
quarterly dividend of per cent,
payable on May to stockholders
of record April %. This will be
the second dividend paid during the
current year, President Harry G..
Meem stated, the first paid on Feb
ruary / having included an extra
of equal amount.
The Senate Banking Committee
yesterday opened hearings on the
Murray bill to provide additional
credit and other aids to little busi-
ness, especially for automobile and
tire dealers. Senator Murray de-
clared there would be widespread
bankruptcy and ruin among these
promptly to relieve their plight, due
to rationing orders.
Virginia Bankers to Meet.
, The Virginia Bankers Associa-
,tion's Trust Committee will conduct
"a series of trust conferences during
the week of April 27, with Gilbert
T. Stephenson in charge. Bankers
will meet April 81 at Winchester;
April %. Norfolk: April %. Roanoke;
April 80, LynChburg; May !, Rich
mond.
Washington brokers were sur
prised by the resignation of George
P. Rea as president of the New
York Curb Exchange. During his
administration operating costs have
been reduced more than 100000 a
year.
Mergepthaler Is Stronger.
Mergenthaler Linotype was strong
er on the Washington Stock Ex-
change today, % shares changing
hands at "a, up 2 full points since
the last previous sale. The market
closed with 1872 bid and 341a asked.
Capital Transit was firm, 40 shares
moving at 81, unchanged. Wash
ington Gas common registered a
100-share sale at 15&, off "a.
Capital Traction SIS led the market
with $500, two ST 1000 and one $4,000
bond selling at los, unchanged.
Heard in Financial District.
In a three months drive % New
York banks sold war bonds with a
maturity value of $4,000, 900. Dur
ing the campaign the banks used a