Evening star., 1934-07-22
DOING WILL HEAD
ADVISORY GROUP
Of Alb. CHAPTER
Other Bank Leaders 10
Serve on important Stand
ing Committee.
LITTLE CONTROL LIKELY
FOR CAPITAL ExCHANG GE
Building Associations Here Push
Housing Program-Chain
Store Sales Improve.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Charles H. Doing, vice president
OF the Washington Loan a. Trust Co
and first vice president of the Dis
trict Bankers Association, has been
appointed chairman OF the important
Advisory Committee of Washington
Chapter. American Institute Of Bank
ing, by Walton l.. Sanderson chapter
president, who is connected with the
Hamilton National Bank. The COM
plete membership OF the committee
was announced yesterday as follows:
Francis @. Addison. jr, president
Security Savings e. Commercial Bank;
Victor b. Deyber, president Second
National Bank: Lanier P. McLachlen,
president McLachlen Bank Corp; G.
II. Pope, vice president Munsey Trust
Co; Ord Preston, president Union
Trust Co.: Frederick p. H. Siddons,
secretary American Security e. Trust
Co.; Frank J. Stryker, president Co.
lumbia National Bank; George o.
Vass, vice president and cashier Riggs
National: Wilmer J. Waller. vice presi-
dent and cashier Hamilton National;
w. w. Spaid, member firm w. B.
Hibbs s. Co, and Robert II. L&cey,
cashier of the Columbia National.
1t Is the duty Of this committee TO
advise with the governing body Of
the chapter in all matters of policy
that involve departure from the
regular routine.
Mr.. Doings past connection with
chapter affairs and the interest which
he has maintained in its activities
during the intervening years has
equipped him with sympathetic un-
derstanding of chapter administrative
problems.
1t Is interesting TO note that In ad-
dition to the chairman and the imme-
diate past president, Robert H. Lacey,
there are four other members OF the
committee who are past presidents Of
Washington Chapter-Messrs. Addi-
son, Deyber, Spaid and Waller.
Small Exchanges to BE Exempt.
Under the new stock exchange con-
troll act the smaller stock exchanges
M1ll be exempt from many of the reg
nlations. according to Commissioner
Ferdinand Pecora. In cases where an
exchange confines its business to
purely local issues and employs the
use OF only small amount of credit
1t Is felt that there is no need of any
particular regulation, he said.
This view undoubtedly will be an
piled to the Washington Stock Ex-
change. The nature of the business
done on the exchange here requires
no more regulation than has been an
pied for several years by the Board
OF Governors, in the opinion of the
exchange officials.
From the time when drastic reo,,-
lation was first proposed, the belief
has prevailed that the Control Com
mission would have very little to do
with the Washington Exchange. Pools
are unknown here, there is no margi
nal trading and questionable manip-
ulative operations known to big ex-
changes could not be carried out on
small exchange.
There has never been any particu-
lar worry here about application of
the control act to the Washington
Exchange, but the latest announce
ment by Commissioner Pecora is high
ly reaSsuring.
Housing Program Boosted.
That building and loan associa-
tions are cooperating with President
Roosevelt in his new housing program
was pointed out yesterday by William
S. Quinter, secretary of the District
of Columbia Building and Loan
League.
Figures just completed show that
the building associations loaned over
Se,O00,000 to over 1000 individuals
during the past six months. The local
associations showed a gain Of $2.l5l,-
600 for the period, opening COST new
accounts.
Mr., Quinter stated that all of the
associations are in position to make
loans for reflnancing as well as reno
VIKING owner-occupied homes.
American Store Sales Up.
Sales of American Stores Co. for
the four weeks ending June 80 totaled
$3.50, ,73l, against S8,6l5,951 in the
like period year ago. or an increase
OF 2.7 per cent.
Sales for the first six months of
1884 amounted TO S58.003, ,54S as COM
pared with $54.357, ,2I6. an increase of
$3,646,332, or 81 per cent. 1t was also
recalled yesterday that sales of the
company for the five weeks ended
June 2. showed an increase of 50 per
cent over the similar period a year
ago
Other chain-store sales reported
during the past few days have been
well ahead OF the same period g year
ago. On Friday. Sears Roebuck re-
ported an increase of I1.2 per cent
for the four weeks ended July Is and
% per cent for the "a weeks ending
on the same date.
There figures all indicate that trade
In many lines is making a pretty good
stand against seasonal receSSions.