Evening Star Newspaper, June 30, 1937, Page 17

FRANK VANDERLIP, FINANCIER, DIES Succumbs at Age of 72 in New York After Lengthy lliness. By the Associaced Press. NEW YORK. June 30.—The world of finance lost its third prominent fig- ure within a month with the death of Frank A. Vanderlip, who made the National City Bank the world's largest private banking institution before he retired to become a statesman-banker. Vanderlip died yesterday at the age of 72 in New York Hospital, less than two weeks after a minor operation for an intestinal ailment. He had been 1l in California eight months ago and entered the hospital June 16 for what his son, Frank A. Vapderlip, jr., had described as “observation.” John D. Rockefeller, sr., who gained millions in oil, and George F. Baker, international financier, died in May. Retired From Bank. Vanderlip retired from the National City Bank in 1919, bul restlessness and what he termed inability to learn to play led him to travel widely, not for the sake of journeying, but to study international finance. He became an expert on war debts, and reparations, and in 1922 was seated at the Inter- Allied Conference at Geneva. Known for his outspoken utterances on world affairs, Vanderiip predicted “utter financial collapse” unless foreign nations took a page from the United States’ Federal Reserve System. The gold purchasing plan of President Roosevelt he termed “a boon to man- kind,” asserting the country could not refurn to the old order. Born in Aurora, Ill, in 1864 and left fatherless at an early age, Van- derlip forsook the bench of a ma- chinist’s apprentice for a clerkship in a Ohicago investor's agency after savings of $226 had enabled him to study for a year at the University of Illinois. Knowledge he gained 9 " THE EVENING STAR, WASHINGTON, D. C., WEDNESDAY, JUNE 30, 1937. about Middle Western finance led to the financial editorship of the Chi- cago Tribune. In 1897 he became Pirst Assistant Secretary of the Treas- ury. Offered Bank Vice Presidency. His handling of the $200,000,000 Spanish-American War loan was so successful that in 1901 he was offered a vice presidency in the powerful City Bank by James Stillman, the elder, then president of the institution. Eight years later Vancerlip suc- ceeded Stillman. Vanderlip had his first milliom by the time he was 46. Surviving are his widow, Mrs. Nar- cissa Cox Vanderlip; three sons, Kel- vin, Frank, jr., and John Mann, and three daughters, Virginia Vanderlip Schoales, wife of Dudley M. Schoales of New York; Narcissa Vanderlip Street, wife of Julian Street, jr., of New York, and Charlotte Vanderlip Conway, wife of Norton Conway, also of New York. | Private funeral services will be held | tomorrow at the country estate, Beechwood, at Scarborough. Dies FRANK A.VANDERLIP. OLAF JOHNSON, VETERAN RAILROAD MAN, DIES Freight Train Conductor Served Pennsylvania System Before Retiring 23 Years Ago. Olaf Johnson, 176, retired freight train conductor of the Baltimore Division of the Pennsylvania Railroad, died yesterday after a long fliness at the home of his daughter, Mrs. Viola For S‘kin-i.tching,m Millions Praise Zemo Zemo relieves the itching of Simple Rashes and Ringworm—soothes the itching irrie tation of Eczems, Pimples and similar skin ailments. For 30 years Zemo has been used and praised by millions as & clean, dependable remedy for family use to re- lieve the itching of skin frritations. A trial will convince you of its great merit. Zemo relieves the itching of Simple Rashes by Good Housekeeping Bureau. 35c, 60c, $1. Al druggists. ZEMO Pearce, 2910 South Dakota avinue northeast. Mr. Johnson, a native of Copen- hagen, Denmark, had lived here since he retired 23 years ago. Surviving are his widow, Mrs. Etta Johnson, and daughter. The latter, & daughter by a former marriage, is the wife of Thomas C. Pearce, elec- trical engineer and superintendent of substations for the Potomac Electric Power Co. i Funeral services will be held at AT YOUR FORD DEALERS 0 MENE Wity USED CARS 2 p.m. tomorrow at W. W. Chambers Co. suburban funeral home in River- dale, Md. Burial will be in Parkwood Cemetery, Baltimore. —_— Honduras has started a war on the devastating banana disease. THURSDAY COUPON DAY GOLDENBERG'S The Once-a-Month Event with the Great- est Following in Wash- ington. % A.-—-l7. - Florist Group Elects. ; ’I The Washington unit of the Flore ists’ Telegraph Delivery Association yesterday elected George Roberts as district representative, Linden Shenk chairmen, Mrs. Charles Burton vice chairman and Mrs. J. Dan Blackistone treasurer. FLEA POWDER KILLS FLEAS .grutant/y ' XTRA Value! EXTRA Selling Space! EXTRA Sales- people!