Evening star. [volume] (Washington, D.C.) 1854-1972, 1934-12-03
BANKERS TO PUSH
ADVERTISING PLAN
Better Public Understand.
ing Sought-FIeming Is
on Committee.
By EDWARD c. STONE.


Plans for stimulating wider use OF
informative newspaper advertising by
banks in promoting public under
standing and confidence in regard
20 existing banking conditions and
methods were announced today by
r. S. Hecht, president American
Bankers Association, as a part of his
organizations activities in aid of gen.
eral business recovery. Robert V.
Fleming, president of the Riggs Ma
tional Bank and first vice president
of the A. B. A., is member of the
Special Committee which has this
vital move in charge.
Three-fold lines of activity in this
connection in cooperation with men,
Der banks are being followed. Mr..
Hecht said. A general groundwork
was prepared through a Nationwide
survey of advertising by banks rela-
tive to their willingness to extend
justifable loans to industry and
trade, and this revealed that large
number in all parts Of the country
are pursuing aggressive policies along
this line.
This survey also confirmed EVIL
dence from various sources that the
main cause of the failure of bank
credit to expand has been the relact-
ance of business man to borrow"
MIR. Hecht's statement says. 1T was
generally reported that uncertainty as
regards future policies and business
conditions was the controlling factor.
fyiyon 70 n
many banks, however, are whole
heartedly doing all they can to en-
courage their customers in develop
ing forward-looking business plans"
Executives on Committee.
The second line of action being
followed, Mr.. Hecht said, is the
preparation by the associations ad-
vertiSing department of advertise
ments for the joint use Of banks
in clearing house groups. The de-
partment has been newly organized
as general association function
under the direct supervision of the
executive officers composing the Pub
licity Committee, comprising PreSi-
dent Hecht, First Vice President
Fleming, Second Vice President Tom
K. Smith and Executive Manager
F. N. Shepherd The department is
in charge of Gurden Edwards, di-
rector of advertising.
The material prepared for this
joint advertising service was sent
to about $50 city and regional clear
ing house associations in all Sec
tions," the statement says. THE
purpose was to cooperate with these
groups in making their position
clearer to the people in their COM
munities in respect to their willing
ness to increase the volume of sound
bank loans to justified industrial and
commercial borrowers as an aid to
business expansion
The third line of action is the
preparation of informative advertis-
ing service for the use of member
banks in the association to aid them
in developing in their own COM
munities better general public I'M
Outstanding regarding banking, Mr..
Hecht said.
Mr.. Hecht said the new advertising
facilities being offered to the men,
bers are not profit making venture
and that there is no intention to
disturb existing advertising arrange
mentS, the idea being to supplement
rather than replace present plans.
Collections Up; Sales OFF.
Wholesale collection conditions held
their own in November, as compared
with October, but sales showed a
slight decline. according to the De-
cember survey of the National Asso-
citation of Credit Men. reported to the
washington association today
Compared with conditions last year
at the same time. the survey shows
considerable improvement in both
sales and collections in 80 marketing
centers. Whereas last DEFENDERS sur
vey listed only eight cities as reporting
good collections and good sales, the
current survey finds 81 cities reporting
good collections and 10 reporting good
sales.
The continued brightness in the
collection picture, as compared with
sales in this months reports, is a
direct result of the good sales re-
ported in the November survey, since
wholesale collections generally reflect
an upturn or downturn about month
later than sales.
Among the cities reporting both
good sales and good collections are
Baltimore, Md; Lynchburg, Rich
mond and Roanoke, Va.
Bond Club Meets Tomorrow.
James P. Nolan, president of the
Washington Bond Club today fore
cast record attendance at the first
IF 40 urhj
place tomorrow noon at the Carlton
Hotel. Sir Willmott Lewis, repre-
sentative of the London Times, will
be the guest speaker.
Secretary Morganthau announces
that the December Is Treasury f.
nancing program will involve total Of
ferings of 1892 100000 The Treas
ury's operation will include an offering
for cash of S450,000,000 l5-l8-year
bonds bearing 3ls per cent interest
and S450,000.000 of 18-months notes
bearing lis per cent interest and an
optional exchange offering of l8-
month rs per cent notes and 4 l2-
year 2ls per cent notes to holders of
1892 ,496 500 maturing Treasury GER
tificateS.
The Capital Transit Company's
passes for the present week include a
picture of a huge birthday cake which
denotes the first years operation I'M
der the consolidation of the two street
car companies, which took place De-
cember l, 1888. Earnings for the first
II months have already been reported
and showed an amazing increase in
profits.
Today's Trading on Exchange.
Potomac Electric Power per cent
preferred stock sold at 100 and 1922
on the Washington Stock Exchange
today. The same corporations 51a
per cent preferred was strong at
HE. Capital Transit figured in no
sales today, final bid 26l2, asked %.
Bonds were neglected.