Evening star., 1932-11-13
Directors of Local Hardware
Concern Advance Four Men
to New Positions.
BANKS NOW URGING
UNITED RECOVERY DRIVE
Further Improvement in Trade Re-
rorted-Value cf Christmas
Savings Clubs Stressed.
BY EDWARD c. STONE.


made by the board of directors OF
Barber g. Ross. Inc, according TO an
nouncement yesterday.
E. T. Rhodes, formerly treasurer OF
the organization, has been elected wee
president in charge CT finance and Will
now have complete supervision ever this
mart of the corpoTation's affairs.
John w. Hardell. formerly manager
of the steel department end assistant
treasurer. was elected treasurer, in full
charge of the details OF the treasurer
Office. s,.or
Humphrey Cissel, formerly aucitor'
vas elected assistant treasurer.
The duties of Harry L. Light. Ior
nnany years secretary of Barber d ROSS
Inc were expanded to include the man
aoenent of a new wholesale department.
United Recovery Drive Urged.
The past week ended with mucn
more optimistic feeling prevalnng owe
the business cutloos. Win electioLl
over. flnanciers everywhere are a1Ie"uS .It ~,
cnnc- ntrating much more vigorously on
the bu-iners Situation. pres mt ana pres
rective TIC recovery that hrs aITe2oY
fokcn mace is now staining out mo e
EVERYBODY, regardless of party sfll-
lia+inn will be glad that the elecIlon
is oyer In financial circles, says Henry
Clevrs & Co. it has been realized lor
MANY weeks past that owing TO the
depressed times a change IN the ao-
nfnistration was imminent tnerelolS C.
as a real market factor TINS hao al
ready been discounted. Disappont-
lJ,yl he an
nublicar1 voters but after all one sloe
had to lose. and the only thing TO 40
new is TO buckle down to work and all
null together. It is only in this manner
fh~t economic recovery can be nrougnt
some prcgrcss has already bcen made
in this direet on end now that uh-
cr-f~ i7,t--r cvc- the c,octicH Is pcSt,
tl,-ipc75 rcac-cE'y ouG.1t TO lcr3e al.e- d
On to sis C supply and demand II
for 70 o her reason. SO Ter as thc
sccu-.tv markets arc concerned; tney
will follow in the footsteps o. business.
Stocks and bonds generally speaking
are cheap and they will benefit by any
Improvement that may take place, the
survey says.
Trade Situation Picking Up.
Yesterdays report by the Federal Re-
serve Bank of Richmond revealing
gain in trade IN october over Sep
tember was considered here TO indicate
a further advance during the CHRIST
mas holiday season. when the local
Christmas clubs alone viii have ap-
prcxirnatcly sS.50o.000 to expend. ever
100 900 memb--5 h-v,ny carried sCch
ccccIrts Cu-ing The Da-t yecT Com
r1c-s strg on the busi-eZ1 recovery to
d9tc. the National Cty GanE says IN
its latest review:
"Tilc Ceins in business activity have
been well maintained during October,
and in general a hopeful attitude pre-
walls for which there is warrant In
4he impressive demonstration of re-
cuperative power given WITHIN tne pas'
three months. In July the long oe-
cline of business was checked, in Au-
gust there was a substantial upturn'
in September a greater rise, and IN the
first part of October most OF the COM
mon measures of business activity for
which figures are available continued
to advance. The gain in car loadlngs
extending later into the Autumn than
usual. is notable, and jncludes nearly
all classihcations Of freight, ...
IN part the business recovery has
been seasonal. but in extent it has been
more than seasonal, and ell the COM
posite indexes Of business volume which
are adjusted for the seasonal factor
have turned UP more sharply than al
any time since the long decline began
Christmas Clubs Help to Banks.
There is always a controversy among
banking men over the value OF tnt
Christmas Savings Club to the bank
Some of the accounts are small ana al
require large amount OF costly
bookkeeping. Yet depositors attracted
by the club are often converted intt
permanent and valuable customers o.
the bank. That is why so nanv Wash
ington bankers believe in the clubs anC
wty they have prospered so greatly II
th'~ citv. In commenting on the valu'
cf the Christina Savings Cub. Il. Fret
Gilman s2~s in the Bankers Magazine
The club has the same proven apDea
70 the masses in the monied world a
price has to the masses IN the com
rnerciaI worlc. There lies its grea
yaIue II gives the banker logica
leader as it were, without IN any sens
fntrudinQ inconsistent elements of bar
rain or of price. 1t leads, naturally
automatically. we might say, TO othe
services offered by the bank.
"Ouite apart from this it crowds tn
dollars into a bank Dollars in crowd
are ike. people in crowds. People 9
where the crowds 60. Inc panK WI
growing deposits is like the proverbs
rr,o--yball growing as 1t rolls. It Is Tx
thu fire on the hilltop 49,,
"bT a leader alcne, Christmas Gu
ofsc1 uays cut at a satisfactory prcnt
s,,-h fases represent the equivalent {
mall order house netting a 11ue Vol
1,roo Of profit on the sales OF its oargal
1eadar-a very satisfactory con @itloI
indeed. ..,o,,,o;r.
directed TO q substantial NUMBER {
Christmas club members reveal that :
per cent of the annual fund OF AZ
proxinately 5000, 100000 is USED lS
constructive purposes, such as peFIlS
nent investment taxes, insurance pre-
niurns, mortgage interest and amortlzs
tion and essential year-end conml'
ments.
1T would appear, then, that tr
mere operation OF the Christmas cIu
keeps undisturbed in permanent ban
accounts a sum equivalent to 81 pt
cent of the annual Christmas club az
cumulation."
Banking Conditions Improve.
The banking situation continues
manifess the improvement which HI
been one Of the most encouraging fe;
lures Of the recovery of business
date. This improvement. bank oficia
declare is the result principally Of
decline in the domestic boarding
currencT gnd the return OF gold fro
Ahroad.