Evening star., 1946-06-16

retary is Eldridge D. Kendrick
while Nelson D. Harrison is the
associations general counsel.
Mr.. Miller, the new president
started his career in banking in
1905 as runner. He was born in
Washington, educat ted in the public
schools, has taken an active part in
War Loan, Red Cross and Com
munity Chest drives. He is vice
president of the Columbia Country
Club, past master of Acacia Lodge
of Masons and a member of the
Board OF Trade, Rotary Club and
st. Adams Episcopal Church. He
was first vice president of the bank
ers' association this year.
Three Elected to Council.
Three new members were elected
to the council of administration
A. M. McLachlen, vice president
McLachlen Bank: Nelson B. O
O'Neal, vice president. Riggs Ma
tional: and John A. Reilly, presi-
dent, Second National.
Members of the District Associa
tion, who are members of the Amer
lean Bankers Association, elected
Robert v. Fleming, president, Riggs
National Bank, member of the
ABA Nominating Committee. with
A. Scott Offutt, vice president
Morris Plan Bank. as alternate.
Robert C. Baker, vice president
Columbia National, was elected vice
president for the ABA national
bank division; Thomas j. Norris,
cashier, Bank of Commerce & Sav-
tngs, for the saving division; Robert
j. Boyd, vice president, Security
Saving & Commercial, State bank
division; w. Hiles Pardoe, vice pres
ident, National Savings & Trust
Co., trust division.
Thomas j. Groom, president. Bank
Of Commerce g. Savings. continues
as member of the ABA executive
council.
Resolutions adopted by the
1nanciers vigorously endorsed the
sale of United States Savings Bonds
to the general public as a means
lo"oid Sul OlllS IIiIldIlOll.
Building Costs Cited.
Raymond M. Foley, commissioner
Federal Housing Administration.
declared the present upward trend
in housing costs must be checked
and reversed. The great bulk of
the housing need can and should be
met by private enterprise. He voiced
alarm over the ability of the aver
age homeseeker to acquire houses
by purchase if building costs con-
tirue to mount.
In considering lending duties in
veterans housing" Mr.. Foley urged
banks to use great care in apprais-
ais and do everything possible to
protect veterans in home financing
1T is our responsibility so to
handle our lending authorities in
such fashion that we will, on the
one hand. not prevent the building
of homes and on the other, not to
place a floor under inf1ationary and
unnecessary price practices, Mr.. Fo-
ley said.
Everybody connected with the
building industry has a RESPONSE
bility to help hasten the day when
the two costs lines. current and
stabilized, shall be merged.
Urges Rental Projects.
Any project that is economically
sound for the homeowner borrower
Is usually sound for all others con-
cerned. In conclusion he declared
much more emphasis must be placed
upon housing for rent, even if rent
ais advance. Veterans can better
afford to pay too much rent tenn
porarily than be bound for 25 years
to too much debt because of high
sales price
Wilmer j. Waller president, Ham,
tlton National Bank, won the Pop
Fleming" golf cup, which was pre-
sented to the association by the
late I. A. Fleming, for many years
financial editor of The Star.