Evening Star Newspaper, June 9, 1932, Page 29

Xcid Stomach! Pains, gas, belching are quite often due to Acidosis. Our booklet tells how you can aid nature to neutralize and elimi- nate this trouble. Phone or write for FREE COPY TODAY. Mountain Valley Water, America’s Foremost Health Water From HOT SPRINGS, ARK. Sold in Washington 15 Years 1828 Columbia Rd. Col. 4081 Modern Mattress Will give you years of per- sp comfort. We ud for your old mat- sterilize it, clean the and use it to cushion Cl 1ing new 1z of your own selec- tion 1s used. The cost is only 9 and up and the work N.W. National 9411 HAAS OPTIMISTIC ON 1. S. RECOVERY A. B. A. Head Makes Talk Before Annual Meeting of D. C. Bankers. BY EDWARD C. STONE. HOT SPRINGS, Va., June 9.—Harry J. Haas, president of the American Bankers’ Assoclation, made several highly optimistic forecasts on the busi- ness and financial outlook in an ad- dress at the opening of the fourtcenth annual convention of the District of Columbia Bankers' Association here today. He declared that the organization of the Reconstruction Finance Corporation has apparently permanently checked the epidemic of bank failures and the Glass-Steagall biil has solved the mone- tary gold supply problem. The cam- paign of the Citizens' Reconstruction Committee has undoubtedly justified itself, he said. Lauds R. V. Fleming. In opening his remarks the A. B. A. president lauded the work of Robert V. Fleming, president of the Riggs Na- tional Bank, as chairman of the na- tional organization's Federal Legisla- tive Committee. “Through his care- ful guidance we have been moi for- tunate in steering our ship tnrsugh troubled waters,” he asserted. President Haas named seven factors which he believes can be relied upon to break through the vicious circle that | has prolonged the depression. Summed them up as follows: “Balancing of the national budget, elimination of public hysteria and busi- ness fear by ending of bank failures, signs of betterment in commodity price levels, realization by foreign countries that tariff barriers must be lowered, relaxation of foreign threat against our gold supply, slight expansion noted in steel mill activity during May, present operations of Federal Reserve Banks in buying Government securities, which he declared has all the appearances and possibilities of bringing a real turn in basic conditions. President Haas pointed to several other factors which he sald justified the feeling that a favorable turn is at hand He stated, however, that things do not happen quickly, but require time and effort. In conclusion he said the Nation has Syndicate. THE EVENING STAR, WASHINGTON, D. C. Optimistic HARRY J. HAAS, passed through nine major depressions out a‘g whlch'it has emerged each time stronger and better than ever. He said, “surely our people, are bet- ter prepared financially and intellec- tually to cope with even greater prob- lems than they have in the past. So why not look to the future confident that fundamental social, financial and economic problems will be adjusted s‘fitafhtgr:‘uncluslnn of his address he was given an ovation. It was the first time a president of the A. B. A. has addressed the Washington bankers while in office. Pope Reviews Assoclation’s Year. C. H. Pope, acting president of the association, called the fourteenth con- vention to order, nearly 175 bank of- ficers, directors and guests being in af tendance. His opening address co tained an optimistic note. At one point Mr. Pope said. with reference to present banking and business conditions: “Have patience. Time heals a lot of things, and we must permit the great | credit ' structural changes now under | ; to mature and produce the good we expect from them. I am sure you recognize that progress has been made | through the formation of the National | ion, the Reconstruction | ration, the Industrial | . of which Owen D. an, and recently the | vestment | ures of 11ng the customer’s confidence and not such magnitude and with the aid of all bankers showing patience and encour- agement, good business and public con- fidence should gradually return.” In opening his remarks President Pope expressed his gratitude over the fine attendance, “especially 80 because of present extraordinary conditions.” He stressed the value of an exchange of views among bankers. He added: “One of the main indoor sports when things go wrong is to find fault and blame some one. At this time the banker is a popular target. Every crack at him challenges his position” today, and he must combat that challenge by preparing to advance himself through numerous conferencés and continuous study. He must be two or three jumps ahead of his customer, wiser in ‘many respects and ready at all times to help and guide him. Thus in the long run he stands a better chance of maintain- losing the favorable position he has held for so many years. I belleve I am right in saying that this convention is a business expediency.” Praises Assoclation Unity. ‘Turning to the wérk of the past year, Mr. Pope lauded the spirit of co-opera- tion among Washington bankers in these worde: “When the time came to pledge sup- port to the National Credit Corpora- tion every one of our members accepted its respective share of the allotment, and the City of Washington was among the very first to go over 100 per cent and report its full quota. | “Furthermore, the confidence placed in our bankers who directed the local work of that organization was not mis- placed. The corporation's record proves it. You were asked during January, 1932, to pay in 30 per cent o? your sub- scription. 1In less than four months 55 gor cent of that sum was refunded. ear in mind that the National Credit Corporation stepped into a breach at a time when the United States Govern- ment was not in a position to act. It accomplished an enormous amount of good, in that it immediately stemmed the tide of a then fast-growing lack of confidence. Through your uniform ac- tion each one of you participated and aided in that accomplishment. “That unity was again demonstrated | in the campaign against hoarding, in the QGreater National Capital move- | ment, in the unanimous vote taken | when' counsel was engaged in drafting | a suitable securities bill, and in the in- tent to interpret the District Code with | reference to a married woman's respon- sibility as an indorser for her husband.” He summed up the accomplishments | of the various sections of the associa- tion and concluded with a tribute to the | late E. J. McQuade, who was president of the assoclation at the time of his death. Upon Pope, the heads as the suggestion of President bankers stood with bowed tribute to the late Edward | THURSDAY, 1. 8 lwagen, for 32 years ident of {he ‘Unton trust Co. and & former president of the association. Pictures Trust Departments. Kenneth F. Brooks, assistant trust officer of the Riggs National Bank, chairman of the fiduclaries section of the association, spoke on “Modern Trust Departments in the National Capital.” Francis G. Addison, jr., presidenf of the Security Savings & Commercial Bank, chairman of the Committee on Law and Legislation, presented a “dis- cussion of Recent Proposed Legislation Affecting Local Banks.” Various District of Columbia divisions of the American Bankers' Association held meetings this noon, John B. Coch- ran being vice president of the National Bank Division; John D. Howard, vice president, Savings Bank; W. W. Spaid, vice president, State Bank, and C. D. Ratcliffe, vice president, Trust Com- pany Division, WRITES SONG, KILLS SELF EAGLE PASS, Tex., June 9 (#).— After composing a love song decrying the cruelty of his sweetheart's parents in not permitting him to marry her, Miguel Gamboa Menchaca, 23, shot and killed himself at a ranch 18 miles north of Engle Pass. He had come to the ranch from Chi- cago five years ago. He was in love th an Eagle Pass girl Store Your Furs with experts For twenty-seven years furs have been entrusted to us for safekeeping. We provide mothproof chests large enough for family use. These cost even less than the moderate charges per garment. RUGS Cleaned and Stored FIDELTY STORAGE 1420 U Street N.W. North 3400 JUNE 9, U. S. EXPERT ADDRESSES NUTRITION INSTITUTE Dr. Hazel K. Stiebling, Senior Food Econemist, Speaks on “Get- ting Most {or Your Money.” Dr. Hazel K. Stiebling, senior food economist of the Bureau of Home Eco- nomics, Department of Agriculture, spoke on “Getting the Most for Your Food Money,” yesterday at a nutrition institute at the Grace Dodge Hotel. The institute, held under the auspices of the Child Care Conference Commit- tee of the Council of Social Agencies, was designed to acquaint the execu- tives of the various social work agencies of the city with the newest ideas in providing food. It was in charge of Mrs. W. A. Roberts, executive secretary of the council, and Mrs. Mary F. C. Lute, secretary of the committee. | Other speakers included Miss Mary | Lindsley, manager of the Dodge Hotel; Mrs. Helen Nebeker Hann, Department of Agriculture, and Mrs. Rowena | Schmidt Carpender, also of the de- | partment. A Hammock, an iced drink and a BOOK You supply the drink book. the hammock and . « . We supply fl.lei As a matter of fact, we supply any number of books you want. 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