Evening star. [volume] (Washington, D.C.) 1854-1972, 1947-06-08
District Bankers Close
29th ConcIave With
ss>s
Dinner and Prizes
By Edword c. Stone
S.zr Sto4 coyrespondsnt

BEDFORD SPRINGS, Pa, June I.
With the time-honored Family
Dinner" and the awarding OF an
array of golf prizes, the 18th annual
conclave of the District Bankers As
ISOLATION was concluded at the Bed
ford Springs Hotel here tonight.
At the final business session, Rich
ard A. Norris, executive vice presi-
dent of the Lincoln National Bank.
was elected association president,
succeeding S. William Miller.
Robert H. Lacey, vice president,
National Metropolitan Bank, was
chosen first vice president, and
George M. Fisher, vice president,
Washington Loan & Trust Co., was
named second vice president.
Albert S. Galley, vice president OF
the Lincoln National, was elected
treasurer for the 35th time. He was
accorded an ovation in connection
with this remarkable record.
! Robert v. Fleming, president OF
the Riggs National Bank, chairman
of the Nominating Committee, paid
Mr.. Galley special tribute.
The business session was given
unusual significance because of adj
dresses by Emil Schram, president
of the New York Stock Exchange
and by John J. McCloy. president
of the International Bank for Re-
construction and Development.
Offutt on ABA Council.
A. Scott Of1utt. vice president,
Union Trust Co., was elected a
member Of the Executive Council OF
the American Bankers Association
representing the District Bankers
Association.
Z. Thomas J. Groom, president. Bank
of Commerce and Savings, was
elected member of the ABA Nomi-
mating Committee for the District.
Elected as vice presidents for the
District of the ABA were: Walton L.
Sanderson, of the Hamilton Ma
tional, for the National Bank Divi-
sion: John E. Monk, Bank of Com
merce. for the Savings Bank Divi-
sion; Robert J. Boyd, Security Saw
ings and Commercial, State Bank
Division; Kenneth Birkfeld, Ameri-
can Security e. Trust Co., Trust Di-
vision.
Four new members were elected
to the associations Council of Ad-
n1inistration: Bruce Baird. presi-
dent, National Savings 81 Trust Co.;
Robert c. Baker, vice president,
American Security & Trust Co.: H.
T Bisselle, vice president, Riggs Ma
tional, and C. F. Burton, president
of the City Bank.
Urges Faith In Capitalism.
Communistic propaganda and
economic planners were blamed by
Mr.. Schram for continued tinkering
with the American system Of free
enterprise by "incompetents."
He warned that an important goal
of communism is to undermine faith
in capitalism so that it can be over
thrown and remarked that the most
afflicted Americans in the worst de-
preston years lived in a luxury
which would have been the envy OF
20 per C6IlJ Vi lllc pCUplC ia ASuccio'
in the best years of the Soviet Union
has ever had.
"Communistic propaganda tends
to make some people lack faith ir
the American system and when po-
tential weaknesses in the system APP
pear, the public often insists thai
the Government take prompt steps
All such steps involve tamperine
with the delicate system of economic
checks and balances. and when that
happens, the system loses some OF
it's fundamental strength. 1--WE
should stop being afraid of checks
and balances inherent in our Ameri-
can system. We should insist that
they be allowed to operate
World Bank Plans Told.
Mr.. McCloy, president of the In
ternational Bank for Reconstruction