Evening star., 1948-06-05
Lacey Slated 10 Head
D. T.. Bankers in Vote
At Closing Session
Ry Edword c. Stone
Ssar Staff Correspondent

WHITE SULPHUR SPRINGS, w.
Va. June 5.-Robert H. Lacey, a
vice president of the National Met
ropolitan Bank, Is slated for election
as president of the District Bank
ers' Association at the 30th annual
conventions closing business session
here today. He will succeed Rich
ard A. Norris. :,
Other officers nominated are
George M. Fisher, vice president
and director of the Washington
Loan & Trust Co., for first vice
president; Hubert T. Bisselle, senior
vice president, Riggs National, for
second vice president, and Albert s.
Galley, vice president of the Lin
coin National, for treasurer.
Eldridge D. Kendrick is the asso-
cations permanent secretary and
Nelson T. Harrison, counsel.
Today's guest speaker, Ray Henle,
National Broadcasting Co. news
editor, turned attention of the
bankers from finance to politics,
asserting that the political situation,
so far as the Republican Party is
concerned, seems to be facing a i
situation similar to that in 1920,
when the three leading candidates
were Gen. Leonard Wood, Frank O. |
LoWden and Senator Hiram Johnson
Compromised on Harding.
All waged bitter contest When !
the roll was called, however, none
mad enough votes and none could |
get enough for majority. So the
leaders got together and Warren
G. Harding was the compromise
choice, Mr.. Henle recalled.
Senator Taft, Gov. Dewey and
Harold E. Stassen, Mr.. Henle said,
seem to be in the same situation
nova situation ripe for compro-
mise candidate. The most likely
choices are Senator Vandenberg,
Speaker Martin, Gov. Warren of
California, Senator Bricker, Senator
Baldwin and Senator Saltonstall,
possibly in that order, he declared.
A st. Louis banker, Kenton r.
Cravens, told the flnanciers that
lack of credit normally supplied by
finance companies is having very
real effect on some businesses by
contracting sales in many lines,
causing operating loses on business
failures in some instances.
Auto and appliance financing has
suffered, he said. Installment loans
to small business have felt the
pinch because the banks have be-
come more and more selective in
extending credit.
Sees No Credit Curbs Now.
The bank official predicted there
would be no Government action to
regulate consumer credit until after
the presidential election.
Hugh Leach, president Of the
Federal Reserve Bank of Richmond
urged Fifth District banks to use
greater care In granting loans, both
for their own protection and to help
In the battle against imitation.
Maple T. Harl. chairman of the
Federal Deposit Insurance Corp,
was introduced, as were Edward A.
Wayne. vice president, Federal Re-
serve Bank Of Richmond, and Mr..
Harrison.
Mr.. Lacey, slated for the presi-
dency, has been association vice
president this year. In banking
since 1921, he was cashier Of the
old Columbia National Bank for
many years., resigning in March,
1946, to take his present position
with the National Metropolitan.
Veteran of World War I.
Mr.. Lacey is a past president OF
Chapter, American In
stitute of Banking. He was edu-
Gated in the public schools He
served overseas in World War I
and was wounded in the Battles of
the Marine and Argonne Forest. He
is a member of the Washington
Board of Trade and Costello Post,
Legion.
Mr.. Galley has served the asso-
ciation as treasurer for 35 consecu-
tive years. Vice president of the
Lincoln National since 1922, he has
been with the bank ever since 1t was
founded in March, 1890, having
shaken hands with the first de-
positor when the doors were opened.
He was then 20 years old.
Mr.. Bissells has been general con-
vention chairman this year. He was
educated gin the District public
schools, George Washington Uni
versity, American Institute of Bank
ing and the Graduate School of
Banking at Rutgers.