Evening star., 1944-06-04
d. {. Bankers Warn
Realty Values Likely
To Change After, War
BY EDWARD C. STONE.


Resolutions adopted by the Dis
trict Bankers Association at the
final business session of the 26th
annual meeting at the Mayflower
Hotel yesterday warned all banks
to use extreme care in appraisals
for loans on Washington real estate
In view of changes in values which
are likely to take place in the post
war period.
Francis G. Addison, jr., chairman
of the Committee on Resolutions,
said the members did not look for
any collapse in real estate here after
the war but pointed out there are
bound to be vacancies having vital
bearing on the real estate situation.
The law of supply and demand
will prevail, it was declared, and
banks making loans on mortgages
should use sound judgment and
conservatism as they look into the
future. The bankers also urged
similar caution by all competing
lending agencies in the city.
600 Attend Family Dinner"
4AtC OOllfCilt1Oil ldSU lllEllG
with the famed family dinner"
attended by more than 600 associa-
ton members and guests, including
many high Government officials. 1t
was the largest affair of the kind
the association ever held. A Scott
Offutt, retiring president, presided,
with H. T. Bisselle acting as enter
tainment chairman.
At the final business session these
newly elected officers were installed:
Sidney F. Taliaferro, vice president
and trust officer, Riggs National
Bank, president; Bruce Baird, presi-
dent, National Savings & Trust Co.,
first vice president; Stanley D. Will
lis, trust officer, National Metropoli-
tan, second vice president; S. Will
liam Miller, vice president, Union
Trust Co., third vice president, and
Albert S. Galley, vice president,
Lincoln National, treasurer, his 33d
election to this office. Nominations
were made by Robert v. Fleming.
Controller of the Currency Pres
ton Delano recalled that when he
addressed the association in June,
1889, national debt was 40 billion,
Yesterday morning, he said, it was
81 billion. These fantastic figures
are symptoms of what the world
is going through, he said, pointing
out that nevertheless bank assets
are sounder and more liquid than
ever.
Some Banks Deposit Crazy"
w. Randolph Burgess, vice presi-
dent of the American Bankers
Association, commented that banks
in some parts of the country ap-
pear somewhat deposit crazy"
They should place service above
growing deposits. he said, and as
serted progress is being made with
the manpower problem and Gov
eminent competition in agricul-
tural areas.
Reports were presented by Secre-
tary Eldridge D. Kendrick, Treas
urer Albert S. Galley and F.. g.
Addison, jr., chairman of the Law
and Legislation Committee. Spe-
cial greetings were sent to H. H.
Mckee and Victor B. Deyber.
Thomas j. Groom, president.
Bank of Commerce a. Savings, was
elected a member of the ABA ex-
ecutive council for the District to
succeed Charles H. Doing; Mr..
Fleming was named member and
MFR Offutt alfArpo IA = v,,n,,,I@n. -
the ABA Nominating Committee.
Richard A. Norris was elected
District vice president of the Ma
tional Bank Division of the ABA: |
j. o. Lehman, Savings Division:
A. M. McLachlen, State Bank Di-
vision, and George M. Fisher, Trust
Division.
Wilmer j. Waller, Richard A.
Norris, F. G. Addison and w. IT.
Vandoren were elected to the asso-
clation's council Of administration
for fhrcn-voor +n,-,,,s