Evening star., 1933-09-02
BANKS IN DISTRICT
IMPROVE STEADILY
Time Deposits Gain, Book
Losses Are Reduced,
Review Reveals. .4s
BY EDWARD C. STONE.

have increased and advances in stock
| and bond quotations have been very
helpful to many banks OF the general
banking situation, the Richmond report
says:
THE Federal Reserve Bank Of Rich
monds rediscounts for member banks
declined slightly last month, contrary
to seasonal trend at time when early
marketing Of agricultural products nor
mally requires country banks to bor-
row. Federal Reserve note circulation
rose less than usual just prior to the
opening Of South Carolina tobacco mar
ketS but 1t Is probable that the return
| OF funds from boarding supplied the
banks in tobacco sections with part OF
the additional currency they required.
Member banks reported small de-
crease in their loans between the middle
of July and the middle of August. with
an accompanying shrinkage in demand
deposits, but time deposits rose during
| stock and bond prices materially
strengthened many banks by reducing
book losses in their investment accounts.
| Debts to individual accounts figures
in the banks Of leading cities showed
a smaller decline than occurs in most
years in the four weeks ended August
9 in comparison with the preceding
four weeks, and figures for the 1893
| four weeks were larger than figures for
the corresponding four weeks last year
IN Is Of % reporting Cities
The fifth district territory includes
the banks in Washington, Maryland.
South Carolina. The same review
stressed the improvement in wholesale
trade, announcing that dry goods sales
had tripled, shoe sales doubled and
| hardware sales were up 80 per cent
from the same period in 1882.
Hamilton's Opening Held Near.
Organizers of the Hamilton National
Bank hope to get the institution under
full steam during the next two weeks.
Welcome news to hosts of depositors in
the eight unit banks entering the
merger
The personnel is practically COM
pleted. One Of the latest additions is
Robert A. Sisson, vice president and
treasurer of the Washington Savings
Bank, who is to be an assistant cashier,
located in the main Office, at Four
teenth and G streets.
He will be the contact man in the
new bank for the depositors in the
Washington Savings Bank, which is
not to be reopened as branch. Start
ing his career in the savings bank as
| runner, he became cashier and later
vice president on the retirement of John
D. Leonard, one of the founders and
president Of the institution before
| Thomas E farrell. the incumbent
At rs Mr.. Sisson is one of the youngest
| bank executives in the city being con-
servator of the savings bank.
Another personnel appointment just
| announced is that of E. L. Norris to be
! Of hn @riI
| branch of the new bank All the branch
| managers have now been named Start
| irg his career as a runner in a bank
at KenSirgton. Md, he was with the
old Continental Trust Co. in Wash
ington. and for the past IL years has
been with the WoodridgeL i'll
| Stitution, recently as vice president
and cashier, and now as conservator
He is thoroughly trained banker.
| The branch is located at 2027 Rhode
Island avenue northeast.
Partner in Brokerage Firm.
George Z. Coggeshell, formerly Of
| Chase Harris Forbes Corporation, who
became associated with Holsapple. SAT-
| ford e. Co. on June l, has been ad-
| mitted to partnership in the latter firm,
effective September /.
| Coggeshell has been active in the
| development of Southern business for
Holsapple, Stafford & Co. members Of
the New York Stock Exchange Dur
| ing his afiliation with Chase Harris
| Forbes he was associated with Penn
| Harvey, vice president in charge OF
| the Southern territory. and Eugene R.
Black. jr.. assistant vice president, in
sales activities throughout the South.
| covering the District of Columbia,
| Maryland Virginia, North and South
! Carolina, Georgia, Florida. Tennessee.
| Alabama, Mississippi, Louisiana and
| Texas.
Bank Advertisers to Meet
1t is expected that several Washing
| ton bankers will attend the national
| convention of the Financial Advertis-
ers' Association, which opens in New
York September II. Broader and more
| Informative use of newspaper space as
| part of the development of better
| all-around public relations policy of
| banks and investment houses will come
up for discussion at this conference.
In fact. it is claimed that the confer
ence may mark turning point in the
treatment of the public by banks.
| Three years of adversely have per-
suaded bankers that many OF their
| present difficulties may be laid to i'm
| proper handling of their public rela-
tions Recognizing by force OF events
that their welfare is in the hands OF
the people, bankers are coming to real
ize as never before. that hereafter they
must take the public more fully into
their confidence. More information of
the kind which explainl banks to the
public is admitted to be necessary.
To crystalline banking opinion on this
question and make possible the develop
ment of an intelligent public relations
program, the Financial Advertisers As
sociation, composed of the publicity and
advertising directors of banks and in
vestment houses of the country, will
provide the opportunity for thorough
discussion of it on national scale by
making public relations the theme OF
its convention.
| Because of the nature of its program
the convention is expected to be one of
the major banking gatherings OF the
year. The Importance of the meeting
has been called to the attention OF the
members of the District Bankers Asso-
citation and it will be known in few
days who will attend the sessions.
Heard in Financial District.
| Hartman e. Co.'S Washington Office
will be moved over the week end and
the firm will open for business Tues
day morning at 815 Fifteenth street,
| Ferry K. Heath, the local manager, an
nounces The new Offices will be both
commodious and convenient.
| The Washington Stock Exchange IS
enjoying a three-day holiday and will
open for business at the usual time OH
Tuesday. Saturday closing on the
New York Stock Exchange ended to-
day. Regular halliday sessions Will be
held in the future.
Michael F. Showalter. connected with
the Commercial National Bank for sew
eral years, was in the list announced
yesterday of those who passed the bar
examination for admission to the Dis
trict of Columbia bar.
| American Tobacco Co. has declared