Evening star., 1944-06-03
.Ta|iaferro Is Slated
To Head District
Bankers Association
BY EDWARD C. STONE.

Sidney F. Taliaferro, vice presi-
dent and trust officer OF the Riggs
National Bank and a former Dis
trict Commissioner, was slated for
election as president of the District
Bankers Association at today's ses-
sion of the 26th annual convention,
being held at the Mayflower Hotel.
He will succeed A. Scott Offutt.
The slate also called for the elec-
ton of Bruce Baird, first vice presi-
dent; Stanley D. Willis, second vice
president; S. William Miller, third
vice president, and Albert s. Cat
ley, treasurer.
In his annual report last eve
ming, President Offutt told the
flnanciers that Washington banks
have played vital part in helping
finance the war. having sold or
handled for agencies who were their
customers $83, 800 900 in War Bonds
in the third drive and $83 AIS, 900 in
the fourth and in addition now hold
$3.50 900 900 in Government bonds in
their own portfolios, or rs per cent
OF total deposits.
592 in Armed Forces.
The banks already have con-
tributed 500 men to the armed
forces, he added. OF this number
eight have been reported killed or
missing in action, one is a prisoner
of war, and 81 have been honorably
discharged. In addition, the latest
report shows that more than $50
persons connected with these insti-
tutions have contributed to the
blood bank.
Employe turnover now is furnish
ing a most serious problem for the
banks, Mr.. Offutt continued. In 194l
there were 1890 officers and en-
ployes in the banks, including ISL
women. On May /, 1914, out of
2,428 employees, 1856 we're women,
double the number two and a half
years ago.
Lost to the Association.
Mr.. Offutt spoke of the great loss
to the association in the death Of
Frank j. Hogan, general counsel,
and OF the following distinguished
and respected bankers: William D.
Hoover, Arthur Peter. James A.
Donohoe, William T. Dewart, Jacob
Scharff, j. Thilman Hendrick and
c. B. Northrop.
Merle Thorpe, former editor of
the Nations Business and now con-
nected with the Cities Service Corp,
told the bankers that their position
IN the postwar world will depend
largely on the attitude of the public
and the Government toward free
enterprise. He added:
I'm the postwar world CONNER
cial banking rather than political
banking must prevail The tide is
running strongly throughout the
world toward political control. Those
advocating changes in our banking
system should study the records Of
$4,000 bank presidents responsible
to the people for 118 billions of de-
posits."
But of those who vociferously
announce their allegiance to the
free enterprise system will demand
that we return to the democratic
handling Of the peoples savings
through banks, life insurance COM
panies, building and loan associa-
tions, then there is no limit to the
heights America can SCALE" Mr..
Thorpe concluded.
Leach Applauded.
High Leach, president OF the Fed
eral Reserve Bank of Richmond,
was introduced, received a vigorous
welcome and spoke briefly at the
opening session.
The guest speaker on this morn
ing program was w. Randolph Bur-
CESS, first vice president of the
American Bankers Association and
vice president of the National City
Bank, New York, his subject be-
ing THE Banks and Government
Finance"
Preston Delano, controller of the
currency, spoke briefly and Francis
G. Addison, jr., reported for the
Committee on Iau apd Taoiclo f;ox,