Evening star., 1932-02-12
CREDIT MEN PLAN
CONFERENCE HERE
Fifth Annual Session Will Be
Held Next Monday-Pro-
gram Arranged.
BY EDWARD c. STONE.

BY EDWARD {. STONE.
The Associated Retail Credit Men of
Washington Inc, will entertain the Co
lumbia Regional Conference of Credit
Executives at the fifth annual session
at the Mayflower Hotel next Monday
the meeting lasting through Tuesday.
The conference includes executives
from Delaware Maryland, New Jersey,
North Carolina. Pennsylvania Virginia
West Virginia and the District of Co.
lumba.
Harry V. Ostermayer, president of
the Washington association and credit
manager for Woodward & Lothrop, will
welcome the delegates after invocation
by Rev. Simpson B. Daugherty. Stephen
H. Takes. secretary of the Washington
association. will make the keynote ad-
dress on The Bureau Manager-HaS
He Prepared Himself to Meet the
Changing ConditionS?"
What the Credit Man Expects of the
Bureau" will be discussed by E. Emer-
son Snyder, credit manager of Raleigh
Haberdasher Another speaker will be
Davis Weir, treasurer State Loan Co.,
Mount Rainier, and president of the
Exchange Bureau of Personal Finance
Companies
Other speakers will include Charles
Martin. Eastern field representative of
the National Credit Association; A. E.
Uffert, Elizabeth, N. j.; Vincent A. Rog-
erson. ClarkSburg, W. Va. and C. w.
Hershey. president Pennsylvania State
Association. The second days program
will include an address on Proposed
Amendments to the National Bank Act
as They Affect the Retail Industry" by
R. Preston Shealey. Washington coun-
sci National Credit Association. The
annual convention of this same organ
ization will be held here in June
Electrical Dealers to Meet.
More than 100 dealer and utility ex-
ecutives and sales representatives from
Washington and nearby Maryland and
Virginia will meet here tomorrow for
the fourth annual Spring convention
of the National Electrical Supply Co.,
distributors for General Electric refrig-
orators.
Headquarters have been established
at the Mayflower Hotel. The conven-
ton will open in the morning with
showing and inspection OF new cleo
trical products. Following the session,
devoted to commercial refrigeration,
there will be luncheon meeting. The
afternoon meeting will be featured by
the showing of talking motion picture
prepared for this special purpose in the
General Electric Laboratories in Sche-
nectady.
New Insurance Publication.
The Life Insurance Club Of Washing
ton is publishing a small news sheet
on insurance matters, especially doingS
in Washington. The first issue has just
appeared James A Maloney is presi-
dent of the club this year and Charles
B. Sinclair secretary. The first num-
Der is devoted largely to the unusually
large amount of insurance the men,
ber5 wrote last year. 1t also contains
: roster of the full membership. In
addition to the individual insurance
written here during the year, there was
9l-o marked increase in the amount
&C group insurance written in the Capt.
tai during 1881.
Writer Fiays Short Selling.
Along comes another attack en- short
sClllnC, this time by j. George Fred
eric. who has written a book called
t:9 Truth About Short Selling" pub
IsEea By Business Bourse, New York.
NJ. Frederick is author of Common
Stocks and the Average Man" Med
err Industrial Consolidation" and
many Other financial books
II hi new book, the author declares
that while business is down about 25
PC SCIIt, oIOCk pllCeS nave 1dIlen 10
per cent, part Of this drop being be-
cause they have been hammered by
short sellers" AS a result there is wide
dissatisfaction with exchange rules
which permit bear raiding and un-
economic selling
M. Frederick has much to say about
the bears" and presents many figures
to back up his claims. He is frank in
- terms tho pnChinr, foi
offers proposals for short selling re-
forms, presents many details of the
Capper bills new in Congress and closes
with the exchanges view of short
selling as summed up by President
Whitley. The book is especially timely,
since the subject is before Congress
awaiting some kind of action, some
members being anxious to outlaw short
sales entirely, others to curb the custcm
and still others to let trading methods
remain as they are.
A. & p. Sales Off IL Per Cent.
Great Atlantic e. Pacific Tea Co. re-
ports sales for four weeks ended January
30 1882, were S68 ,966,599, comparing
with S78814870 for the same period Of
preceding year. a decrease of $9,848,271,
or 125 per cent.
Tonnage sales for the above period
were 1896, ,428, against 410,807 in the
same period OF last year, a decrease of
1879 tons, or 81 per cent.
Average weekly sales in the four
weeks period were Sl7,241 $50, as COM
pared with Sl9,703,7l8 in corresponding
period of 1881, decrease of $2,462 ,068.
Average weekly tonnage sales were
98.857, against 102702, a decrease of
3,845 tons.
Sales for 48 weeks ended January 80,
1882. without consideration OF change in
number of stores during the year,
totaled 1925, 734,12l, as compared with
S969 9.522,746 for the like period of pre-
ceding year, a decrease of S42 783 625
or "A per cent. Tonnage sales were
5,087,123, against 4,684,002, a gain of
%03,12l tons, or Sc per cent.