Evening star., 1933-09-01

the report said, and it is too early to
Judge as to its continuance, but there
has been a definite upward trend DUR
ing the past two months
The district covered in the survey
includes Virginia Maryland, West Vir-
ginia the District of Columbia, North
Carolina and Scuth Carolina. A par
ticularly optimistic trend was noted IN
agriculture, although the effects Of the
recent storm were rot included in the
report, which covered the period frcm
July Is to August Is.
Crops this year were made cheaply,
the banks survey revealed, and on the
whole agriculture appears to be better
situated than for several years, a con-
dition which is already showing itself
concretely by increased sales of many
manufactured products to farmers
Encouraging was the report on blsi-
ness failures which showed that lnsol-
vencieS during July were Al per cent
less and aggregate liabilities 70 per cent
less than the number of failures and
aggregate liabilities for July of last year.
Although activity in textiles in July
was less than for the two exceedingly
busy previous months. the report said
it was above the level of any other re-
cent month and more than double that
of July last year
Retail trade in most sections swung
upward while the wholesale trade was
in mUch larger volume. Dry goods
sales tripled. shoe sales doubled and
hardware sales increased 80 per cent.
Sanderson Heads A. I. 3. Committee.
The Educational Committee Of Wash
ington Chapter. American Institute Of
Banking, for the school year 1933-34,
has been selected and is now forru
lating plans for the first semester term,
according to Robert H. Lacey, president
of the local institute chapter and CASH
ier of the Columbia National Bank.
Lacey announced the appointment
today Of Walton L. Sanderson of the
personnel Of the proposed Hamilton
National Bank as chairman of this
committee for the ensuing year. l.
Earle McGeary Of w. B. Hibbs & Co,
second vice president of the Washing
ton chapter, is announced as the COM
mittee's vice chairman.
Sanderson is a native WaShingtCnian.
graduate of Eastern High School. and
has been active in the work of the
local A L B. Chapter for number of
years. having served as its chief consul,
treasurer, second vice president and
elected in June to the office of first
vice president He has served on many
institute committees and attended its
national conventions in Detroit, Tulsa
and Pittsburgh. He was awarded the
A. I. B. standard certificate in 1926
and later received certificates in COM
mercial and investment banking and
public speaking.
Other members of the Educational
Committee are: Katherine w. Mccall
mont w. B. Hibbs & Co. secretary;
S. Winifred Burwell, National Metro
politan Bank; Aubrey o. Dooley, Fed
eral-American National Bank & Trust
Co.: James C. Dulin. jr.; Frank M.
Perley and Paul J. Seltzer. American
patrick. Second National Bank; G. Ell
mer Flather. Union Trust Co.; Con-
stance D. Fogle and I. J. Roberts, Riggs
National Bank: William H. Laughlln
and Rose L. Royce, Washington Loan
& Trust Co.; T. Hunton Leith. Sc
curity Savings e. Commercial Bank;
Richard A Norris and James A. Soper,
Lincoln National Bank: E. Wallace
Schreiner, First National Bank OF Alex
audria, and Gertrude G. WICK, Liberty
National Bank
Messrs Dooley, Dulin. Leith. Norris,
Perley Roberts and Soper are past
presidents of washington Chapter.
Sharp Insurance Gains Noted.
AS eNlOS1Ce Ol SuUSIdIllldl lllPiOfC-
ment in business conditions. Earl d.
Krewson. director of the Washington
branch of the New York Life Insurance
Co., reported today that in July, 1882,
the paid business done in his office was
l16 applications for S348.200 in insur-
ance, while in July, 1888. there were
165 applications for S461,2l7 insurance.
In August. 1882, paid business was ITO
applications for S262,500, while in the
month ended yesterday 203 applications
were made for policies totaling S400,-
371
Firm to open Office in Cuba.
Fenner, Beane & Ungerleider, men,
bers of the New York Stock Exchange,
announce the opening of an office in
Havana, Cuba. the fifth foreign branch
operated by the firm, others being in
Toronto, Paris and London. The Ha-
vana Office will be located at II Gale de
Aguiar. which is one of the principal
business thoroughfares of the city.
Charles E. Fenner, senior partner OF
the firm. stated that the decision to
embark upon this expansion was based
upon the belief that new era is dawn
ing in Cuba
Mr. Fenner has spent many years in
the Latin American countries and has
an unusually keen interest in the eX-
tension of American business activities
to this area
Roach Wins Insurance Honors.
Frank D. Roach has won the first
prize of the Midsummer campaign Of
the Mutual Benefit Life Insurance local
agency with the highest total of pre-
niums collected on new insurance. MI.
Roach is completing his twentieth year
with this organization.
1rfe In hicrocf A1tcr CT
business in its entire history and the
biggest months business so far this
year. registering total of 46 lives for
$275,0O0.
Trading On ID. c. Exchange.
AS September came in, Capital Trac-
ton and Mergenthaler Linotype
furnished all the business on the Wagh-
ington Stock Exchange. Today's trad
ing opened with 10 shares of Capital
Traction selling at 712. 10 at 73s. 10
80 more shares moved at 73s in 10
share lots. The last previous sales in
this issue were made at 61s.
Mergenthaler Linotype figured 34-
share turnover at 251a. Bonds were
neglected Peoples Drug Stors preferred
is paying a quarterly dividend today OF
$162l2 per share while the quarterly
dividend of ST per share was paid by
Lanston Monotype yesterday.
Heard in Financial District.
Ord Preston, president of the Union
Trust Co., and S. William Miller. assist
ant treasurer. will leave Washington
Sunday to attend the annual convention
of the American Bankers Association,
which opens in Chicago Tuesday.
Charles r. Grant. vice president and
treasurer of the Washington Loan &
Trust Co., is back at his desk, following
his recent illness. President Harry G.