Evening star., 1926-06-19
MORAN IS Elected
BY D. c. BANKERS
Succeeds Francis G. Addi.
son, Jr.. as President.
Others Given Places.
BY EDW ARD e. STONE.
Stsf eorrespoudcnt OF The stay.


president Of the District of Columbia
,3ankers' Associa ton At hnal session
IF the convention here today. w. w.
,spsid of W. r. Hibhs & Co was elect
ed first vice president: Robert V. F'lem
ing. president of Riggs National Bank.
eecond vice president: Wilmere J.
Waller. vice president Federal Amer
lean National Bank. secretary. and
Albert S Galley, executive OF the Lin
coin National Bank. treasurer.
In addition 10 these officers the fol
lowing were elected members Of the
,ounci of the administration; Edward
J. MCQuaid. vice president Liberty Ma
tional Bank: Lanier T. McLachlen,
president McLachlen Banking Corpo-
ration, c. II. Pope. vice president
Munsey Trus. CO.. and John NJ.
Eiordon cashier Bank OF Commerce
and Savings.
Addison Gets Post
Francis G. Addison. Jr.. retiring
president was named for vice presi-
dent Of the American Bankers Asso-
citation for the District of Columbia.
Mr.. MCLaChlen was made a member
of the nominating committee. with
Joshua Evans. ir., as alternate. The
convention then elected Harry V.
HAYNES member OF the executive
council of the American Bankers
Association to serve for three years.
Four divisional vice presidents were
elected to represent the local associa-
ton in the American Bankers Asso-
citation. az follows:
Trust company section. Charles c.
Lanlborn; national bank section,
George o. Nass: sa wings bank section,
John NJ. Riordan; State bank section.
Maurice Otterback.
Committees Make Reports.
Important committee reports were
vital feature of today's session.
which was presided over by w. W.
Spaid. The secretary read the report
nf the auditing committee. John NJ.
Riordon. chairman: commercial actiyi-
ties. Victor r. Deyber. chairman:
fraudulent securities. Eugene f.
Thompson, chairman; law and lesisla-
ton. Corcoran Thom. chairman; un-
profitable business, John Poole, chair
man; standardized banking insurance.
Howard Moran, chairman; relations
With Treasury, Robert V. Fleming,
chairman: advertising, Eliot II. Thorn
son. chairman.
The committee on commercial trade
activities reported on real estate and
building matters through subcom-
mittee headed by Howard Moran. For
the first FIVE months OF this year
permits showed a decrease of only
10 over the same period last year
the total issued being 2.777. The
amount of money involved totaIed
&2S750.13 an increase of 81 .6f3.669.
The percentage Of new houses in
Washington this year has declined
about 90 per cent over that of 1925,
but the increase in apartments was
81 per cent. so that the total opera
tions for the first four months Of
this year exceeded that for the same
period of 1925 by II per cent.
The report added: Those interest
ed in this subject state that this
condition is unfortunate. because there
should have been total decline in
all, operations. rather than an in
crease. as the number of vacancies in
the number OF Cor sale and for rent
apartment houAsf is rapidly increas-
ing. for the supply of new buildings
Is rapidly exceeding the demand
Some efforts should be made to
reduce the volume of building and
gradually the oversupply will be alb
sorhed.
Labor Conditions Good.
Labor conditions. generally, in
Washington are very good. There
has been no change in the price of
building materials. Real estate loans
in the first four months of 1925 were
S5.054,900 ahead of the same period
last year. tho number Of loans also
increasing by 1856.
The outlook for future building
operations in this city has been ma
terially strengthened by the appro-
priation by Congress of $4,000, 600 a
year for the next Ave years. This
IAk nd
he steadily employed
Auto Trade Better.
The report on automotive trade and
financing made by a subcommittee
headed by l.. A. Slaughter, stated that
sales If dealers handling medium
priced cars. without exception appear
to have been greater during the first
quarter of 1925 than in 1925. The re-
port adds:
The percentage Of new car sales in
volving the tradein of old cars range
from 36.4 per cent 10 a. per cent. with
one dealer reporting as high as 7S per
cent, but from the information fur
nished, these percentages are lower
than for the sa me period Of 1928. All
dealers report fewer used cars on
hand now than at the same time last
year, with fairly good denfan nd for
them when In good repair. This does
not, however seem to be the arne sit
uation in many other cities from
which reports indicate a very poor
market for second, hand cars. Pur.
chases on the installment plan appear
TO he increasing with an Improvement
in the promptness with which pay.
ments are made when due
The merchants and manufacturers
subcommittee reported, in part: "The
committee finds that business condi-
tions affecting merchants and manu-
facturers in Washington are highly
satisfactory. The country as a whole
is conceded TO he experiencing a minor
trade recession. but our city is fortu-
nate in that it's population IL steadily
employed. its per capita income ex.
ceptionally large and that 1t enjoys
comparative freedom from the labor
disputes which depress the business of
Industrial centers.
Busses and Business.
"A factor which local business men
state has contributed notable impetus
to their business is the increas sed eff
cheney Of our transportation system
to outlying sections through the use
of motor busses. The added buying
power has been quite apparent and
is q source of considerable satisfaction
to local merchants
In the retail trade, department
store sales. which is the only readily
available index. have shown for the
first four months of this year an in
crease of IL per cent over the same
period last year. this In spite Of the
fact that unreasonable weather condi.
tions have certainly prevailed this
Spring.
Figures compiled by the Federal
Reserve Bank for the district show
fln.nf nal,i rAc..a ..l.< A. H.