Evening star., 1923-02-16
STORES REPORT 1921
AS BEST YEAR YETI
Department Sales and Earn
ings Pass All Records-Lo-
cal Banking News.

Department stores throughout the
United States recorded 1922 as their
most successful year, both in dollar
volume Of sales and earnings
Probably the most encouraging
feature is that this prosperity was
founded on sound buying power and
moderate price levels, rather than on
any such orgy of spending and in
fiated values as characterized
l919-192O
Most of the leading department
stores attained a sales volume of
0 per cent in excess of 1921 and some
showed even an increase over 1920
Retailers point out that the great
mass of workers have not suffered
wage cuts of the same percentage as
cuts in food and merchandise values.
Thus there is actually a surplus buy
Ing power.
The record OF 1922 dry goods busi-
ness was done at thoroughly conSer-
NatiYe price levels and the steady
character of the demand augurs well
for 1928.
Ii. 4. BOwles Elevated
AS noted in yesterdays Star. after
twenty years service with the in
stitution. fifteen OF which were spent
as cashier, Is. y. BowleS. was elected
vice pres idcnt of the Potomac Saw
.ngS Bank. Georgetown.
The story of Mr.. Eowles rise in the
financial world is the one of d young,
man deN"tlns his entire time to his
chosen profession. Entering the bank
is messenger boy in 1903 young
BoWleS stuck hard to his work, and
"aS continually promoted until 1908.
when he became cashier of the insti-
tuition
During his long service as cashier
he has brought his bank to the fore
rapidly. due mainly to his own per-
>"nat supervision and untring ef
!"rtS. The Potomac Savings is now
me second largest savings bank in
'hc District, with deposits of ap
proXimatcly $4,000 600. being surpasS-
II only 10y the Security Savings and
Commercial Bank.
AS vice president and cashier Mr..
RoWics viii continue in the active
management OF the affairs of the in
Stitution, Will. W. T.. Freeman,
assistant cashier. vii! assume super
VISION of the many details formerly
handled by Mr.. BowleS.
II ~ announced that a new business
department has been installed in the
hank, which Will be directed by c. w.
Shoema kcr, assistant cashier. This
latest step iS in line with the pre-
lfouSiy announced policy of expand
trg business. The new safe deposit
vault now being installed will soon
be ready for use, IL is said
Mr. Offutt's Death.
Great sorrow was expressed by Off
Gals and employees of the Potomac
Bank today when announcement was
made of the death of George W.
Offutt, president of the institution for
the past thirteen years. Mr.. Offutt
had always been great favorite
fhnSa Nd hoI
identified with the Potomac Savings
institution since it's origin, having
been one of its incorporatorS. He
served as vice president for about
seven years, when he was elected to
the presidency TO succeed Joseph
Waters.
While no definite arrangements
have been made, il is expected that
cials will attend the funeral. which
Will be held tomorrow afternoon.
VIII Attend Banquet.
4 party of six local bankers will
leave for New York to attend the an
nual banquet of the New York Chap
ter. American Institute Of Banking,
scheduled for tomorrow night at the
-Astor Hotel. Those who will make
the trip are Charles d. Boyer. W. j..
Waller, ". ". Spaid. Harry v.
Haynes, Edward J. McQuade and
James c. Dulin, jr.
n. J.. Ii. DtnneF sueAts-
Among the out-of-town guests who
will attend the annual dinner of the
Washington Chapter, American Insti-
tute of Banking. according to an
nounCement made by James G. Dulin,
jr., chairman of the committee in
charge, are Miss Isabel Il. Trowbridge
of Albany, y. y, national chairman of
the women's committee of the Ameri-
AN Institute of Banking, and Miss
.Adeline r.. LeiSer. former national
chairman of the women's committee
The two visitors will he the guests
nf the local wom"n'S committee, head
- by Mrs. Helen II. Reed of the Com
Iuercial National Bank. The Wash
ington organization of woman bank
employees will entertain in their
bonor on February "a. at Hotel Ham
iiton. after which they will attend the
chapter diner at the Willard.
Mrs. Reed will be the guest of the
New York Chapter. American InSti-
tute Of Banking, at its annual dinner
Saturday night.