Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-02-10

vice presid e ncy 2A
took place many -
years ago. William T. Father
Mr.. Father has
come in contact with a host of finan-
ciers of national reputation as well as
possessing very wide local acquaintance.
He has been close student of all
phases of banking, his associates con-
Sidering his views on all matters con-
nected with credit to be of particular
value.
His long financial career brought
him a shower of congratulations in the
past few days. Mr.. Flather is in Splen-
did health and is at the bank every day,
the SO years in banking apparently rest
ing lightly on his shoulders.
Retail Sales Reveal Gain.
Sales of department stores showed
an increase of per cent in January
over the corresponding month last year.
according to reports made to the Fed
eral Reserve system by 430 stores. After
allowance is made for the fact that
January this year contained one more
business day, the increase was about l
per cent.
OF the 40 reporting stores, 228
showed increased sales over January of
last year. The largest increases were
reported by stores in the Chicago, Kan
sas City and San Francisco Federal Re-
serve districts, while there were de-
creaseS in the Boston, st. Louis and
Minneapolis Federal Reserve districts.
Sales of 2 mail order houses were
ass per cent larger. and those of 80
SC and l0c chain stores rs per cent
larger than in January of last year.
Changes In the volume Of business of
both mail order houses and chain stores
reflect in part an increase from month
to month in the number of retail out
lets operated.
ID. G. Bankers to Attend Conference.
Several Washington bankers are plan
ming to- attend the three-day trust
conference In New York, beginning on
February Is, In charge of the Ameri-
can Bankers Association.
The most effective means of develop
ing ana administering trust service will
be discussed, with the practical side of
the trust work given the preference.
The conference will offer, in reality. an
advanced course in fiduciary practice,
revealing the actual methods used by
successful trust companies and banks
IN acquiring new business; outlining
tested systems for improving internal
administration: stressing the real lia'bil-
4ties assumed in the various capacities;
bringing out what are considered the
best policies to follow in handling
trusts and estates and also afTording
information which can be applied as
o yardstick TO measure the success of
individual efforts.
Novel Suggestion for Financiers.
Reuben A. Lewis, secretary of the
trust company section of the American
Bankers Association, speaking here the
other evening, called attention to the
endless number of problems and worries
that arise in connection with the ham
ding of big trusts. The situation re-
minded him of this dialogue between
two -complexioned gentlemen:
I'm never goin' to worry any more"
said one.
How you going to help worrying"
I'm going to hire somebody to do
0A my worrying"
But you can't find anybody to do
your worrying for you"
Yes: can. I'm goin' to pay him
$50 week.
How you ever goin' to get $50 a
week to pay him?"
Brother, that is the first thing he'll
have to worry about
Banquet Committee Hustling.
T. Hunton Leith, chairman of the
institute banquet committee, is one of
the busiest young bankers in the city
right now. The other members of the
committee, who are giving him splen-
did support, include the following: A.
T. HEM, vice chairman: Rose L. Royce,
secretary; William G. Winstead, treas
urer. and Harriet NJ Barrett, Harold w.
Burnside, F. H. Cox, John M. De Marco,
Aubrey o. Dooley, John r. Keeper, H.
F. Kimball, Harold S. King, Robert H.
Lacey, Richard A. Norris, Frank M
Perley, I. j. Roberts, w. L. Sanderson,
Hilda M. Shomo, Leila M. Sloat, Edwin
C. Steffe. Lois A. White, Robert G..
Whitton of Alexandria and Mildred C.
Woodcock.
The directors of the Security Savings
a. Commercial Bank have authorized
the bank to provide reservations for
the banquet for all employees who are
members of the institute.
Insurance Stock Advances.
The Sylvania Insurance Co. has ac-
dujred substantial control of the Liberty
Bell Insurance Co. Sylvania has been
q substantial holder of the stock of the
Liberty Bell and recently made addition
to It's stock interest in the company
There has been no intimation from
oficial sources whether merger of the
companies is contemplated
Sylvania's activities have expanded
since May OF last year when the COM
pany sold 10000 shares of it's stock at
$40 share. Considerable of this stock
was sold in Washington by number
Of different houses. The stock recently
advanced until it sold as high as 40
and AZ in the outside market.
Financial Legislation Delayed.
The Senate banking and currency
committee is generally agreed that
nothing in the way of financial legisla-
ton can be considered at this session
Of Congress.
The La Toilette resolution to restrict
brokers' loans for speculative purposes
Is now on the Senate calendar ready
for action and the Glass bill to with
hold some Federal Reserve Board funds
from speculative uses is before the
Treasury Department for technical con-
eideration.
The La Toilette resolution is con-
sidered by some banking experts to be
somewhat inadequate while the merits
Of the Glass bill have not been suffi-
GENTLY determined to warrant congress
sional action at this time.
Richmond Bank CIearings Up.
Bank clearings. according to Dun's
Review, again show heavy gains, the
total for the first week of February for
all leading cities In the United States
of $14,409.6l6.000 exceeding that of
year ago by AS per cent. At New
York City. clearings for the week of
$10.395, 000, 600 are larger than those of
last year by $50 per cent, while the
total for leading centers outside of
New York of $40l4 ,6l6000 is IT'S per
cent in excess of last years Most of
the outside cities continue to show
larger bank clearings than in earlier
years. substantial gains appearing at
number of them. Increases are