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A. B. A. president for the coming year is Tom K. Smith of St. Louis' Boatmen's National Bank. Banker Smith is unlikely to depart from Mr. Fleming's policy of friendship with a Democratic Administration. A Democrat himself, he served for a while under Secretary Morgenthau as a Treasury adviser. White-haired, ruddy well-brushed President Smith wears his Phi Beta Kappa key on his watch chain, said last week: "I am convinced that there is no problem in banking confronting us today which research, education and co-operation cannot solve. They are the bulwarks upon which I base my hope for American banking."
* Offered by The American Banker was a theme song for the commission's report: "Ma' assets in the cold, cold bonds."