Evening star., 1934-09-15
FAVOR INCREASE
IN ADVERTISING
Speakers Before Financial
Association Declare
Space Is Vital.
BY EDWARD C. STONE,


In newspapers were urged by many of
the leading speakers at the convention
Of the financial Advertisers Associa-
ton, Just ended in Buffalo. One of the
Capitals representatives at the session
was Eliot H. Thomson, Washington
Loan & Trust Co, who is most en-
thusiastic over the concrete ideas
advanced.
The convention manifested deep in
terest in the cooperative advertising
done by Washington banks to develop
Christmas savings clubs, bring the
trust departments of banks before the
public, and to assist in bringing the
banks part in the Federal Housing
Administrations renovizing loans to
public attention. A host of questions
were asked relative to the costs of
cooperative and of individual bank
advertising and the results obtained
by both methods.
The fact that banks now have more
money than they can loan was not
allowed to be used as an argument
against advertising. In concluding
his address Edwin B. Wilson of New
York, said:
Permanent Benefit Sought.
"Are all investors dead? Can you
keep Americans out of the securities
market permanently? Investment
houses that believe in themselves
should be making efforts right now to
have the investor believe in them.
That is so important it would pay
any reliable house to wage continuous
advertising campaign to establish
itself in public esteem as headquarters
for securities, if, when and as wanted
These of all times, with public
psychology turning to assurance, are
opportune for old houses to reinforce
their position and new houses to es-
tablish a place for themselves in public
esteem. Some of the deposits the
commercial bankers are complaining of
will go to the investment bankers
when the confidence of investors fully
returns
Who is going to get the lions share
of this business? Those who are
afraid or those who have the courage
to anticipate activity and build
toward the permanent rather than the
Mr.. Wilson concluded.
Public Service Cited.
The point was made by Harrison
Jones, executive vice president of the
Coca-Cola Co. of Atlanta, that banks
do not realize their place as a public
utility. While privately owned, yet
they render a great public service, he
said.
Roy L. Stone, a Milwaukee banker,
came to the defense of the Christmas
club and said the banks should not
give them up, although the interest in
them had waned in some cities. The
public likes the club idea, he asserted,
and it is the duty of the banks to keep
1t going. he declared.
Another speaker. Alex. F. Osborn,
said it was surprising how little the
majority of people know about their
banks. Educational advertising. in his
opinion, should be done on sufficient
scale to remedy this situation.
Back of Renovizing Campaign.
A similar plea for public education
through advertising was presented by
Alva G. Maxwell of Atlanta, the retir-
ing president of the association. THE
permanent salvation of the banking
business rests on individual integrity,
ability and management" he said.
1t was stated at the convention that
bankers are 100 per cent behind the
national renovizing and undermining
housing campaign. Advertising by the
Hov be fn Ea hi rifiU
universally advocated.
At the close, J. I. Sperling Of the
Cleveland Trust Co. was elected preSi-
dent for the coming year.
Noted in Financial District.
"New Homes From Old Houses" is
the title of an attractive booklet just
published by the Fidelity Building and
Loan Association of this city, whose
main Office is at 610 Thirteenth street
northwest. The booklet is beautifully
illustrated and shows pictures Of
number of commonplace dwellings
that, with slight additions or altera-
tions here and there, have been trans
formed into attractive, modern homes
Free copies are available to those in
terested in home building.
Wilson Compton, general manager
of the National Lumber Manufacturers
Association, just back from tour of
the forests of Central Europe, found
much interest in the shelter belt"
forestry program recently advanced
by the Government for the Prairie
States. The opinion, however, was
that the expenditure of the SIS, 900, 900
should be spent for more substantial
and more promising conservation
projects applying to existing forests.
Joshua Evans, jr., vice president
of the Hamilton National Bank, has
returned from three weeks vacation.
IL asnl, in l.