Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-09-14
SPEAKERS CHOSEN
FOR D. c. MEETING
. OF FINANCE FIRMS
Thorpe, Dr.. Parker, Whitney
and Others on Four-Day
Program.
GROWTH IN SMALL LOAN
BUSINESS is REVEALED
$500, 100000 Lent Annually for
Personal Credit, Survey
Reveals.
BY EDWARD C. STONE.

Details Of the program for the COM
ing convention here of the American
Association of Personal Finance Com
panies state that the speakers will in
clude Merle Thorpe, editor of the Ma
tons Business; DR.. Frank Parker,
economist, Wharton School of Finance,
Philadelphia; A. F. Whitney, president,
Brotherhood of Railway Trainmen, and
several State officials and social work.
ers. This national organization of State
supervised companies operating under
the uniform small loan law meets at the
United States Chamber of Commerce
September % to 26.
The personal finance business, which
extends credit in small sums to persons
of modest means, already operates I'M
der State supervision in "A States. 1t
executive vice president Of the associa-
ton. that the increasing demand for
consumer credit will make inevitable
the adoption of similar legislation
throughout the country.
Already "a States have the uniform
small loan law sponsored by the Russell
Sage Foundation or legislation similar
to it on their statute books" Mr.. Per-
sons said. I'm these States personal
finance companies operate under super
vision of the banking departments, Mr..
Persons added, their charges for per-
sonal credit service are regulated; and
they are required to comply with GER
tain administrative provisions which
protect the borrower and which are
further of material assistance to our
national organization in maintaining
high standards of business practice
within the industry.
1T was only few years ago that
men of distinction in business circles
viewed the merchandise installment
business with some alarm. Now the In
stallment business in standard lines OF
merchandise has increased to the amaZ-
ing total of about $4,000. 900 900 annu
ally. Of this great total of personal
credit extended in the United States
annually, the Russell Sage Foundation
estimates that fully 100000, 600 Is be-
ing loaned In sums less than $500 under
the provisions of the uniform small
loan law" he said.
Institute Courses Listed.
Registration opens this week for
courses offered by Washington Chapter
A. I. B., at bankers headquarters in
the Becker Building on r street. The
courses of instruction are more extend
ed this year than ever, and the younger
bankers are displaying such enthusiasm
that record attendance is expected.
The courses in the first semester in
clude commercial law, standard eco
Monies, credits, banking fundamentals,
negotiable instruments, investments
public discussion and debate and prob
iems in personal efficiency.
This years faculty is made up OF
Eliot H Thomson, Harold w. Burnside,
Dean Raymond B. Dickey, Bolitha j..
Laws, F. j. Donohue, Edward J. Nc
Quade. James d. Cushman, William G..
buchanan IameS G Dublin Theodore
Coggswell, DR.. George Farnham and
Mrs. Anne Tillery Renshaw.
Glasses begin on Monday, September
%. In a message of greeting to Frank
NJ. Perley, this years chapter president,
LanieY P. MacLachlen, president of the
District Bankers Association, notes the
fact that so graduates of the chapter
are now connected with Washington
banks.
District National Plans Expansion.
Joshua Evans, jr., president Of the
District National Bank, announced yes
ferday that the directors have author
lied quite extensive interior alterations
to the banking quarters.
The contemplated changes Will pro-
vide more spacious facilities for the
trust department, enlargement OF the
safe deposit department and make 1t
possible to consolidate the work of
the bookkeeping, proof and clearing de-
partments.
The work will begin Immediately and
IL is expected that 1t will be completed
about December /. The departments
mentioned have been cramped for space
for a long time, and the move, Is the
first OF the kind taken since Mr.. Evans
became president of the bank follow
ing the retirement OF Col. Robert N
HarDPr