Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-05-21

Perpetual Building Association.
ent Of Northwestern Federal Saw
John U. Raymond, presiden
of Washington Chapter. Ameri
can Savings and Loan Institute
said membership of the chapte
now exceeds 800 and that arounS
;I35 students will earn diploma,
this year by qualifying fol
nearly 800 semester credits IL
10 basic subjects relating to'sav'
ings and loan operations.
Because Of record growth, tn,
need for a steady flow of quail
fed personnel is ever increasing
said Mr.. Raymond. who is execu.
tive vice president and manager
of Home Federal Savings anc
Loan Association.
Associations should also worl
with colleges to develop thu
executive potential Of men anC
women already in that field anC
to attract college graduates to tn,
industry. declared DR.. Nathan A
Baily, dean Of the School of Bust
ness Administration at American
Mr.. Baily proposed closer CO.
operation between the institute
chapter and the areas accredited
colleges and universities. He
also urged establishment of q
scholarship program to provide
management personnel.
Fred A. Smith HonOred
A. tribute to Fred A. Smith
president of Jefferson Federal
Savings and Loan Association
and a past president of both
the league and the Washington
Board Of Trade. was presented
as a surprise feature Of the ses-
sion by George @. Boyd Of the
Saturday Evening Post. which
is beginning a Nationwide pro-
motional and educational cam
lpaign for the industry through
the Savings and Loan Founda-
ton.
Mr. Smiths success story was
outlined and illustrated with
color slides as an example Of
savings and loan leadership
Plans for the presentation had
been kept q strict secret among
league officers.
A report from John @. Kolb
president Of Washington Chap
ter. Society Of Savings and Loan
Controllers. was read by Mr.
Raymond in the absence Of Mr.
Kolb. who is secretary of Orr.
entail Building Association.
Reports also were heard from
William E. Poulton. chairman O.
the budget committee. and vii,
liam H. Dyer, chairman Of tn,
nominating committee. Mr.. Poul,
ton is senior vice president o.
Columbia Federal, and Mr.. Dye
is executive vice president O,
Perpetual
League History Recalled
Astounding growth Of the asso,
Citations since the league startes
in 1908. was recalled by Johr
OBrien. deputy manager of tn
Federal Savings and Loan In
surance Corp. in an unschedule,
address at the close Of yester
days session.
The first condition call cover
ing the associations on June 80
1909. showed $l4 million Of asset
in % associations then operating
he said. Fifteen years later tn,
total had climbed to $40 million
and Appropriated 500 million b,
1888. Now'they exceed $500 mil
lion. he pointed out. In the las
10 years District association
have made more than S1,75O,
100000 Of mortgage loans. pri
marily on homes. he added.
Repeating a warning given b,
other speakers yesterday. MI
OBrien said associations mus
choose between higher dividend
and further declines in their re-
serve positions.
Between 1851 and 1866, asset,
OF the District associations rose
from $435 million TO $8O5 million
or more than IS per cent. bu
because reserves did not keer
pace and dividend rates adj.
vanced the average reserve posi-.
ton Of the capital association,
dropped to 10 per cent from 81
per cent or about one nth, HI
declared. Most Of the associa.
tons have raised dividend rate.
to 315 per cent from 3 per CEN
In the last year.
The presidents reception ant
annual banquet will be the fina
convention, event tonight. Tro.
phies won in golf tournament.
and other sports events in two
showery days will be presented
Delegates and their guests will
return to Washington tomorrow
Some will return by way Of