Evening star., 1943-06-06
DC. Bankers Install
New Officers at
Conc|ave's Close
Offutt Takes Helm,
Waller Backed for
High ABA Post
BY EDWARD C. STONE.


stalled at the closing business ses-
sion of the District Bankers Asso-
citation yesterday afternoon at the
Mayf1ower Hotel. Resolutions were
adopted pledging primary support of
the bankers to the winning of the
war, business conditions in the Cap
ital were summarized. and the World
War outlook reviewed earlier in the
session. The 25th annual conven-
ton closed last night with the fam
lily dinner" attended by more than
500 members and guests.
On motion of Robert v. Fleming
the association went on record as
fully indorsing the candidacy of
Wilmer J. Waller, vice president and
cashier of the Hamilton National
Bank. for the Office of treasurer of
the American Bankers Association.
Similar action was taken giving full
support to the election of w. Ran
dolph Burgess. chairman of the
board of the National City Bank, for
vice president OF the same organi-
cation.
oAhSSAS a anN SOhklVls
Alexander Scott Offutt, vice presi-
dent of the City Bank, was named
president of the association. sue
ceeding John A. Reilly. Starting as
runner, he has made a fine record
in banking and has already rendered
the association very valuable service.
He is a native of Maryland
Sidney F.. Taliaferro, trust officer.
Riggs National Bank, was advanced
to first vice president; Bruce Baird
president National Savings & Trust
Co., second vice president, and STAN
ley D. Willis, trust officer, National
Metropolitan Bank and chairman of
this years Convention Committee,
was elected third vice president.
Albert S. Galley, vice president of
the Lincoln National Bank, was
named treasurer for the 32d time,
being accorded an ovation.
Council Members Chosen.
-Four members were elected to the
Council of Administration, w. T.
Vandoren, vice president and
cashier, Liberty National; Francis
G. Addison, jr., Security Savings &
Commercial; A. M. McLachlen, vice
president and treasurer, McLachlen
Bank, and Thomas j. Groom, presi-
dent. Bank of Commerce & Savings
Charles H. Doing, member of the
ABA Executive Council; John A.
Reilly, retiring president, and the
Nff1pnrc -
the council.
Wilmer J. Waller was elected to
represent the association on the
ABA Nomina ting Committee, with
Charles H. Doing alternate. Mr..
Reilly was named District vice pres
ident of the ABA national bank di-
vision; Francis E. Robey, savings
division; R. L. Koontz, State bank
division; Barnum L. Cotton, trust
division.
D. c. Business Reviewed.
1t. Col. John Saul, executive vice
president of the American Security
& Trust Co.. now on leave, gave a
most complete review of business
conditions in the Capital during the
past year.
He made special reference to the
amendment to the District of Co.
lumbia unemployment compensation
law which Francis G. Addison.
chairman of the Law and Legislative
Committee, reported had just been
signed by the President. The amend
ment was vigorously advocated by
the Board of Trade and the Bank
ers' Association.
This measure will effect a tax
saving for District of Columbia en-
ployers of $7O0O.O00 a year. Mr.. Saul
stated, sum which, by way of COM
parison, is slightly more than the
Federal Governments annual lump
sum payment toward operating the
city.
Mr.. Saul said the wartime year of
1912 brought the city the greatest
prosperity ever known. The Trade
Committee members look for SIM
liar situation to exist here again
this year
Early Peace Held Possible.
Ernest K. Lindley, Washington
editor of Newsweek, speaking on
World Events" told the financiers
1t would be foolish to count on an
early or easy victory over Germany.
The prudent course is to make all
preparations necessary to storm the
outer and inner fortresses of Europe
against determined defense and
defeat the German Army in the field
within Germany.
However. Mr. Lindley added, it
would be short-sighted not to enter
tain the possibility of an early con-
ciusion of the war in Europe. There
are at least six grounds for en-
couragement. first of which is the
success of the air war production
program, which is developing ir-
resistible military power.
The damage caused by aerial
bombardment of Italy and Ger
many; signs that the collaborationist
structure within Europe is coming
open at the seams, leaving Italy
teetering on the edge of disaster. and
the surrender of German troops in
Iunisia when they still had weapons
and ammunition with which to
Tight are all encouraging Indications
The sensational improvement in
the fight against the submarine will
be felt on all battle lines. The
crackup may be delayed as the
German war machine is still ex-
tremely powerful. but the end may
come suddenly. Mr. Lindley asserted.
Thrift Program Urged.
Acting Secretary Eldridge D. Ken
drick reported an unusually busy
year and Treasurer Albert S. Galley
as usual. revealed the budget to be
in fine shape.
Chairman A. NJ. McLachlen pre-
sented the resolutions, the bankers
voting to encourage thrift and dis
courage unnecessary spending; to
vigorously support the sale of War
bonds in ever-increasing amounts:
to help prevent imitation and to
continue the liberal purchase of
War bonds for their own portfolios,