Evening star. [volume] (Washington, D.C.) 1854-1972, 1945-05-09
NASD Reveals Plans
1oMoyeHea
Back 10 Capital
By EDWARD c. STONE.

Head off1ceS OF the National AS
ISOLATION of Securities Dealers,
which were moved to PHILADELPHIA
when the Securities and EXCHANGE
Commission was transferred to the
Quaker City, will be moved back to
Washington as soon as office space
can be obtained, Wallace H. Fulton
executive director, announced today
The association took steps to re-
turn to the Capital a year ago, but
no space could be found. The re-
CURED space is now practically as
sured, MIR. Fulton said, so that the
original plans can be carried out.
There are Is people in the main of :
flee.
Mr.. Fulton has been dividing his
time between the Philadelphia Of
fee. where he keeps in very close
touch with the SEC, and Washing
ton where matters of vital invest
ment Importance are constantly
coming before Congress. Incident
ally, it is reported that SEC officials
are anxious to get back here and are
working toward that end.
Father Made Vice President.
@. Elmer Father has been adj
vanced to the position of vice presi-
dent OF the Union Trust Co., in ad-
ditlon to his duties as treasurer, it
was announced today. He takes the
office left vacant when S. William
Miller was advanced to the presi-
dency.
Mr. Father has been with the
bank 81 years, starting as a clerk
and working up, holding many i'm
portant positions. A former teller,
ne became assistant treasurer in
1924 and treasurer in 1943. For years
he was very active in the American
Institute of Banking. He is now
chairman of the Hotel Committee
for the coming convention of the
District Bankers Association.
Giannini Plans to Retire.
A. P. Giannini. chairman of the
board of the Bank of America Ma
tlonal Trust and Savings Association
of California and one of the nation s
ablest bankers, will be rs years old
next Sunday. He has announced
that he plans to retire from bank
ing at that time. His bank has bv
far the largest number of branches
Of any bank in the United States.
Miss Helen Knox, president of the
Association of Bank Women. will
preside at the regional meeting in
New York, Friday and Saturday
which will be attended by several
washington members. Savings
bank life insurance, mortgages.
trusts and new business will be spe-
clal forum topics. The chairman of
the New York State Compensation
Board, Mary H. Donlon, will be the
principal speaker.
Closer Fraud Check Urged.
Lester A. Pratt, CPA, of Wash
ington urges bankers to paw far
closer attention to the prevention
OF fraud in banks. A very high per-
centage of bank defalcations could
be prevented if management would
be more alert, he says in an article
IN Pacific Coast International
Statistics give adequate proof that
bank bandits strike most frequently
Where resistance is weakest. A SINH
lar condition exists in the case of
bank defalcations. Where little at
TENT is made on the part of manage
ment of a bank to control defalca-
tons by adopting preventative
measures, an employe may be tempt
ed to manipulate its accounts, he
asserts.
William H. Grimes, editor of the
Wall Street Journal. who was
formerly in charge of the Washing
ton office, has been made editorial
director of all Dow-Jones publica-
tions.