Evening Star Newspaper, June 5, 1930, Page 6

FEAR OF NONOPOLY I BANKIG 15 HT i 1sions Into Rural Districts il by Area Plan. i BY EDWARD C. STONE, Staft Correspondent of The Star. ASHEVILLE, N. C., June 5.—John W. Pole, Controller of the Currency, de- clared ibefore the District of Columbia Bankers' - Association here today that 1t is Inconceivable that the people of the United States will ever permit monopo- listic control in banking. He scouted the often expressed fear that the bank- ing interest of the country may become centered in & few strong hands, made a strong plea for the expansion of branch banking into rural communities, through the trade area plan, and urged bankers everywhere not to take too strong sides in the branch-group-chain-unit banking controversy until Congress has com- aleted its present sweeping investiga- jon. ’ ‘The: twelfth annual cenvention of e ct Bankers' Association was opened at the Grove Park Inn here today. President Wilmer J. Waller in the chair. Following the president’s opening address, greetings were pre- sented from the Ametican Bankers’ As- sociation and Mayor Gallatin Roberts of Asheville, The attendance smashed all previous records. Scouts Menopolistic Banking Fear. ‘The controller's address was consid- ered one of the best he has ever made since taking office. He said, in part: “The statement has been made that the growth of large metropolitan banks in the commercial centers would develop a concentration of capital which might prove inimical to the best interests of the public and might. even lead to monopolistic control. However, it is my view that the establishment of regional branch banking in the United States, within trade areas would decentralize the banking capital in the United States and would bring bank management eloser to the communities with which they' do business. “I- see in the- future adoption of re- gional branch banking only one type of comcentration and that is concen- tratidn of management. This should be disassociated from concentration of cap- ital and concentration of power. In order to serve the best interests of the public there must be sound, efficient and , competent management. Washington and Trade Areas. “Let me attempt to give an illustra- Mton .of the application of this princi- ‘ple of trade areas to the District. There no State so small as the District of Columbia’ and the guestion of the trade area of the City of “’usf‘flngtl‘:n nfi"es- sarily brings up the question of crossing over the Bisteict boundary line into other States. F shall not undertake at this time to attempt to delimit, the trade area of the City of Washingion. As a 'Mnflupomt we would have to begin ~with what miight be called the metro- district of the city, whi¢h would lude the surrounding suburban areas @ Virginia_and Maryland.” “This terri- tary has, I understand, an estimated . tion of around 700,000 and within a few years will no doubt approach a million. All of this territory is within the trade area of the City of Washington gs".ha bulk of #ts banking business into Washington. “"Was] is mot and probably .pever will be a great industrial or com- mercial center and its trade area is of a different type from that of some citles of the same size in other parts of the country, Its trade area does not extend ' 80 t ipto the outlying territory. On ;. the: , as the Capital of the Natian,, 1t 5 fast becoming - the - m in the world and its met- ! mg:rl:un area will no doubt in the near fut exceed a million in population. | ‘Under any system of regional branch therefore, Washington would become an im nt banking center. “The estab nt of regional branch banking i >the United States would , - mot be followed by any sudden change .in our of banking. There are many strong unit banks which would continue t6 operate successfully for an indefinite of time. “The committee on banking and eurrency has for seyeral months been an ing system with a viewof reaching some conclusions as to whether there should be at this time-a further extension of banking in the -United States. * The Senate committee on banking and currency hss yet to begin its study along simflar lines. , “In this connection it. seems to me that it behooves all fair minded stu- , .dents of banking and finance and all associations ‘of bankers to avoid taking s dogmatic position upon the questions under investigation until. Congress has .had an opportunity to complete its Seeks Conventions for District. extensive study of our bank:|{. Address Convention ] bank, Upper—John W. Pole, Controller of the Currency, who made the leading speech at the District of Columbia 3ankers’ Association convention at Ashe- ville today, and Wilmer J. Waller, who presided and presented his annual report. Riggs National Bank and chairman of the auditors’ section, announced that 31 Washington banks are now repre- sented in the section, while 17 banks are particularly active at all meetings. Members of the section rentered splendid service in the annual audit of the mfi School Banking System located in Business High, Central High, Eastern and McKinley High Schools. The mem- ‘bers rendered similar service during the slommunity Chest Campaign of 1930, the executive council taking charge of auditing the pledges. Volunteer work- ers from 19 banks toiled for an aggre- gate total of nearly 1,100 hours, account- ing for $272,356 in cash receipts with- out a “teller’s difference.” The section chairman concluded his report by noting the wide variety in ac- counting methods in Washington banks and recommending that Washington Chapter, American Institute of Bank- ing, inaugurate a course in bank ac- counting. Safe Deposit Uniformity Urged. Charles B. Howe, treasurer of the American Security and Trust Co., and chairman of the safe deposit section, re- ported many vital safe qepollt,i:roblems discussed during the year. e urged that more local banks have representa- tives at the section meetings and sug- gested more meetings next year with Maryland and Virginia associations. David N: Houston, trust officer of the ‘American- Security & Trust- Co., and chairman of the fiduciaries section, re- ported that one of the high spots of the year was the series of lectures on trust functions for life underwriters, the aim of which is to promote a better under- standing and co-operation with the Dis- trict of Columbia Life Underwriters’ Association. The section approved the report of its committee on standardiza- tign and recommended the adoption of a schedule of fees for fiduclary service rendered by the member banks. These reports were followed by the appointment by President Waller of a committee on resolutions and a nomi- President Waller, in his annual report, lsuded the wnm&’mmt of the country’s financial institutions during the stock market panic and praised the effective- ness of the Federal Reserve System’ in that crisis. He noted.the unusual in- terest taken in the District Bankers’ Association during the past year as in- dicated by the record attendance at the regular and ial meetings. Mr. Wal- ler mentioned the great increase in the amot of wark handled at association rs and called particular at- tention to Albert S. Gatley’s 25 years’ splendid service as treasure! mr.h:‘ upon, after which the retiring official e four special recommenda- tions. as. follows: Much closer contact between the offi- cers-—of the. association and the three sections te the end that some associa- tion official should be at all section meetings. s Consideration of an all-time manager for the association’s credit bureau in order that all member banks may get still more- henefit from this source. Adoption of the bank collection eode and support of the act “to limit the lla- bility of a bank or trust company in the District of Columbia for non-payment through error of a check or other instru- ment, drawn on or payable at the ba: or trust company.” - Extension of invitations to the Amer- fcan Bankers' Association and the Asso- ciation of Reserve City Bankers to hold their conventions in Washington in 1932, during the Bi-Centennial of the birth of George Washington. ‘The auditor’s, safe deposit and fidu- claries’ sections, which were organized only last year, presented important re- ports. Raymond G. Marx, auditor of the R Pie Crust in 4 minutes Wars and methods of cooking have bee: amazini on * of vives are Bow using Flako for making o s the new, mopd- ern way Pl ‘ mixture of the best gquallty flour, baking powder. shorten- i Torl® ¥BIch You stmply roll nnd ~bake: longd recipe put ge for convenient use. crisp. light, flaky ple d dry undercruats -of de flavor, and the upiform blend assutes perfect Tesults every time. A package kee s nine phase of the year's work was | nating committee. The convention then adjourned to give time for the annual meetings of the national bank, savings State bank and trust company sections. - Each of these is con- nected with the Ameri Bankers’ As- sociation and has a vice president for the District of Columbia. he vice president of the national bank division is Floyd E. Davis, presi- dent of the Lincoln National Bank: savings bank section, Claude H. Wood- ward, president Mount Vernon Savings Bank; State bank division, Raymond L. Schreiner, president Bank of Bright wood; trust company section, Irving Zir- pel, secretary of the Union Trust Co. The new officers are chosen on the last day of the convention. FIERRO FLIGHT DELAYED | Mexican Army Pilot Awaits Re- pairs to Damaged Plane. SAN ANTONIO, Tex., June 5 (#)— | Col. Roberto Fierro, Mexican army pilot who plans a non-stop flight from New York to Mexico City, will remain here probably two or three days while his ship is being tuned up for the hop to New York. One wing of his plane, a low-winged Lockheed monoplane, was damaged in | a landing on a ranch south of San Angelo Sunday, and mechanics have been engaged in repairs since his ar- rival here at noon Monday. He flew the ship from the local municipal air- port to Kelly Field yesterday afternoon. | One sailor was flung from the gondola | at the annex of the Goldsbor Army mechanics will assist in putting the ship into condition. Most any boy will AR, ZEPPELIN MISHAP INTHE STAR FILM Other Interesting Events Pre- sented at Theaters in D. C., Maryland and Virginia. The remarkable flight of the Graf Zeppelin is shown in The Evening Star- Universal newsreel as it salled over lower New York and landed at Lake- hurst, N. J. Graham McNamee, National Broad- casting Co. ace, gives a stirring talk on this event, as the talking reporter, and of many other spectacular scenes in | the reel being shown today at Warner's Metropolitan and other Warner Bros. theaters and leading picture houses in Maryland and Virginia. One mishap, however, matred the landing in the Lakehurst airdrome. The tail end of the gigantic craft flip- ped up into the air, carrying many of | the landing crew who had hold of the | | ropes. Many men dropped off as the | | ship ascended, while others held on. l and injured. Great throngs crowded the Lakchurst forget his manners, when Lorna Doones are around . . . He knows that a plateful has to be divided right away quick, or he’s apt to be out his share! Says the Uneeda Boy. D field to watch the ship sail threveh the air over New York harbor to the landing place after completing its trp of 13,400 miles from Germany by way of -South America. Other spectacular events include the winning of the great speedway classic at Indianapolis, the winning of shell ‘race on the Schuylkill River by Columbia University, the trial flight of the mystery airmail plane at Seattle. WasH.; motor cycle maneuvers at Phoenix, Ariz.; the parade of Civil War veterans in New York City and a parade of naval cadets at Annapolis, which was reviewed by Infante Don Alfonso, cousin of the King of Spain. From abroad comes the thrilling sight of jousts held at Upsala, Sweden, similar to the contest held by the Knights of King Arthur’s Round Table. The contest was won by Gustaf Adolf, son of the Crown Prince of Sweden. From Kameido, Japan, are shown strange rites of the Nipponese pilgrims to the “good luck” shrine for their annual worship. Music is furnished by the Victor Con- cert Orchestra, Rosario Bourdin con- ducting. WORKER FALLS TO DEATH GOLDSBORO, N. C., June 4 (.— L. R. Edgarton of Goldsboro was killed and J. R. Bowen of Wilson, N. C., seri- ously injured yesterday afternoon when a’scaffold on which they were working ro Hos- pital gave way and they fell 21 feet to the ground. U, THUKDDAYX People more than just like Lorna Doones. They love to munch these jolly little to the crumbling point. squares. Shortened almost 5 esnily il Lorna Doone Shortbread is a Uneeda Bakers’ master- piece...and you'd have a hard time to find anything better than that. Sold in the package or the pound. INATIONAL BISCUIT COMPANY “Unseds Balers” In Kitchenettes or Huge Kitchens There's an essential reason for sugar in sanitary packages—it's certain to be clean. Bor convenience Jack Frost Granulated Sugar is packed in distinctive blue cartons—the one pound size for kitchenette use, 2 pound packages for those who have more room, and the 5 pound size for users of larger quantities. I¥'s clean—untouched by human hands until you use it. I¢'s convenient—available can use easiest. It's 100% Pure Cane Sugar. Ask Your Grocer For JACK FROST GRANULATED SUGAR There Is a JAck FrosT SUGAR for every pur- pose—Granulated, Confectioners, Tablet, Powdered, Brown. in the size you JACK FROST SUGAR MELODY MOMENTS=—brought to you every Thursday evening over WEAF and NBC Chain, 8:30 o'clock, Eastern Standard Time. wa Refined by The National Sugar Refining Co. of N. J. JUNE O, 193 (GIRLIN JEWEL RING £ CALLED DEATHLLY' 2= Comely Brunette Is Said to Have Been Sweetheart of 5 Gangsters Who Died. By the Associated Press. ton, alias brunette, Mary Collins, 24, jewel theft ring identified yesterday in Ne York, w the CHICAGO, June 5.—Margaret Hamil- | the girl who is said to have been the sweetheart of five notorious gangsters shot to death in the past few years. The identification was made by police who had given her the sobriquet be- cause of the successive demise of her gangland admirers, when she was ar- ed today on another charge in- volving theft of a quantity of goods from a Cincinnati department store. Listed among her admirers, accord- ing to police, were Dion O'Banion, who | died among the flowers of his North Si Schlig, all former prince- lings of the underworld and all sent to their graves by gangster bullets. The “Death Lily” was as demure as a debutante, and as well dressed, as she appeared in court to answer the charge made by the Cincinnat!{ firm that she ad defrauded it of $4,000 worth of comely | silk. Another Cincinnati store made a under’ investigation here in |similar charge during the day. A con- connection with operations of a huge | tinuance was granted until June 7 at |synods, | the request of attorneys for the State who are preparing extradition papers. The young woman was arrested yes- | terday and Deputy Commissioner of De- | tectives Stege promptly announced that he would question her today in an effort to get more facts regarding operations of the jewel theft gang uncovgred in New York last week. S sk 5T 0.K. COLLEGE PLAN | Lutheran Synod Approves Move of Educational Group. SAVANNAH, Ga., June 5 (#).—With | out a dissenting vote, the Georgla-Al | bama Synod of the United Luthera: | Church of America adopted the recom- | mendation of the Educational Commis sion of the South Carolina and Georgl | Alabama synods, | control and ownership of Newberry Col- lege, Newberry, S. C.. by the ‘South Carolina, Florida and Georgia-Alabama at the special meeting held | Tuesday afternoon at the Lutheran Church of the Ascension f things look N\ blackest REG. U, 8. PAT. OFF,. MAGIC SCOU No extra bother RING PADS soap to with Cleans aluminum and all pots and pans like magic! as easy to use ... because you just wet the pad—and rub . . . because only S.O.S. contains its own grease-cutt ing and scouring materials . . . because S.O.S. polishes . as it cleans. Always ~and economical BABY CHAFED .. ? Be Careful, Mother . . haysh toilet tissue may cause serious infection CHIw specialists warn you _, thatharsh, glazed or chem- ically impure toilet tissues irri- tatc the soreness of the diaper region . . . and so start the way for serious infection. . Be absolutely safe! Use noth- ott Tissues on mi but soft baby's tender skin. These three “'thirs tissues — ScotTissue, sue and Waldorf —are s, chemical purity. “*Scott Tissues feel just like fine old linen,"’ is the way more than one mother has described fibre™ ni:}l'i]l- processed to satisfy allptol:‘c re): quirements that doctors say toilet tissue must have to be safe... softmess, absorbency and their unusual softness. They are twice as absorbent as ordinary toilet tissue. And absorbency is absolutely neces- sary for thorough cleansing. Only the finest materials into Scott Tissues. No harmful dyes. No cast-off newspapers. Scott Tissues are chemically ure—necither acid nor alkaline 1n reaction. Not only your children, but your whole family need pro- tection from the more serious maladies that come from in- ferior toilet tissue. Eliminate a needless risk. Always ask for ScotTissue, Sani-Tissue or Waldorf. Scott Tissues NOTE: ScotTissue and Waldorf are the brands in the world . ; . Sani-Tissue is th coilet tissue embodyiog the famous o largest sellin, w popular ptlus fibre qualities: ready to use . . .