Evening star., 1934-04-23
SPREAD OF BRANCH
BANK|NGFORECAST
Higher Capital Requirements
Cited by Speaker at Re-
gionaI Session.
BY EDWARD C. STONE.

of more branch banks in the smaller
communities in the future, DR.. F. G
James, professor of finance at the
University of Pennsylvania, told
Washington bankers and others at
tending the second Eastern Regional
Conference of Auditors and Controll-
ers in Philadelphia Friday and Sat-
urday. The delegation from here was
delighted with the entire program.
Speaking at the closing session on
Current Banking Problems" Dr.
James reviewed the almost general
demand for laws imposing larger cap
ital structures on newly chartered
banks and predicted marked growth
in the number of branches in the
country as time goes on He said
branches of banks in the large cities
will replace the small community units
when they are unable to meet the re-
quirements for larger capitalizations
The speaker also advocated a central
banking authority for all banking in
stitutions.
F. P. H. Siddons, Secretary of the
American Security & Trust Co.. in
this city, was one of the earlier con-
ference speakers. In an exceedingly
interesting address he outlined the
change which recent legislation has
brought about in the operation of
banks. Arthur j. Linn, auditor of the
Hamilton National Bank of Wash
ington, also made a most interesting
and practical talk.
Other Washington bankers attend
ing the session we're Audley A P.
Savage, National Savings g. Trust Co. :;
r. A.. Sisson and M S. Yeatman,
Hamilton National Bank; J. C. Elgin,
w. B. Hibbs & Co.; W. M. Harris,
Lincoln National; r. E. Haycock,
D. E. Wisecarver and D. D. Whit
craft, Riggs National Gerald E.
Keene, Second National; H. N. Glasco
and W. M. McCurdy, Union Trust
Co.; Ralph Endicott and H. L..
Downey, washington Loan & Trust
Co.; F. E. Robey, Bank of Commerce
& Savings. and A. E. Yeatman, Co.
lumbia National.
Wholesale Trade Leaps Upward.
Wholesale trade in this Federal Re-
serve district. in March, and the first
quarter of the year, showed sensa-
tional improvement, according to the
latest report from the Bank of
Richmond,
The Reserve Bank reported today
that wholesale trade figures in March,
compared with March, 1888, grocery
business up 1876 per cent; drygoods,
80 per cent: shoes, 80 per cent; hard
ware, 6l.2 per cent and drugs, 1856
per cent.
For the first three months of 1884
wholesale business in groceries was up
31.6 per cent, drygoods orders gained
894 per cent, shoe business advanced
67.4 per cent, hardware showed gain
of 661 per cent and wholesale drugs
climbed 241 per cent
Stocks on hand are not much higher
than year ago. indicating that man.
ufacturers continue to have an outlet
Retail trade for the first three weeks
of April was slightly better than in
the same period of 1888 and it is ex-
pected that the total for the month
will exceed April, 1888, in spite of the
Easter trade in that month.
Employment conditions are not i'm
proved. except that railroads are add
ing to their forces ard there is some
pickup IN construction. The weather
has slowed up demand for outside la
Dor on farms.
Bank Women Will Meet.
The Bank Women's Club of WASH
ington will hold its regular monthly
meeting on Wednesday at the Wom-
ems City Club at 1856 Jackson place
This will be the first meeting of the
club under the new administration
and the newly elected president, Miss
Alice H. Whltton of the First National
Bank of Alexandria, will preside.
Miss Mary Ladd is to be the speaker
and guest of honor. The subject of
her talk is Persia"
The meeting will convene at 6
o'clock and dinner will be served the
members and guests.
ID. c. Bankers Lose Debate.
The debating team from Washing
ton Chapter, American Institute of
Banking, battled with Richmond de-
baters Saturday night in the Virginia
Capital and went down in glorious
defeat The subject was Resolved.
That the N. r. A. should become a
permanent policy of the American
Government.
The Washington representatives
had the negative side, the team being
made up of Miss Constance Fogle of
Riggs; E. Wallace Schreiner, First
National Bank of Alexandria, and j.
Earle McGeary, w. B. Hibbs g. Co.
William H. Laughlin, Washington
Loan & Trust Co., was alternate.
The judges were Maxwell G. Wal
lace, counsel Federal Reserve Bank of
Richmond; H. L. Davidson, superin-
tendent Virginia Mechanics Insti-
tute, and James w. Ellerson, jr.,
trust officer, First g. Mechanics Ma
tional Bank. 1t is understood they
voted two-to-one in favor of the
Richmond team. w L. Sanderson.
Paul j. Seltzer and Edward Foreman
of washington Chapter accompanied
the Capital team.
Franklin Bank Opened Today.
The Franklin National Bank opened
today as a unit of the City Bank of
Washington, after being closed since
last March. The new branch freed
100000 in deposits to $4,000 de-
positors.
President Clarence F. Burton Of the
City Bank was present at the OPEN
ing as were several other officials, in
cluding John B. Cochran and Thomas
P. Hickman, who as vice president
of the City Bank, is now manager of
the branch.
1t is a great relief to all concerned
to get this widely known bank back
onto 100 per cent operating basis.
A complete account of the opening
appears elsewhere in today's Star.
Today's Trading on Exchange.
Business on the Washington Stock
Exchange opened rather quietly to-
day, the first sale being in the bond
department, $500 Washington Gas SIS.
1860, changing hands at 1864.
Potomac Electric Power 51a per
cent preferred stock recorded two 10
share sales at l101a, while 10 shares
of Lanston Monotype appeared on the
board at Al. Other stocks were ne
olocfoi