Evening star., 1935-11-10
MORE THAN 5000
DELEGATES DUE At
ABA. CONVENTION
General Attendance Expect.
ed to Be Much Larger
at New Orleans.
CAPITAL GROUP MAKES
TWO STOPS ON TRIP
Days Visit in Chattanooga Area
and Luncheon at Hecht Home
in Biloxi Included.
BY EDWARD c. STONE.

There will be more than 5000 dele
gates at the American Bankers AsSo-
citation convention in New Orleans,
officials from New York headquarters
stated when passing through Wash
ington. The general attendance will
be vastly larger.
Most of the Washington delegation
spent yesterday in an all-day stop
at Chattanooga, with motor trips to
Chickamauga battleflelds, Fort Ogle-
thorpe, Missionary Ridge, Lookout
Mountain and other historic spots.
Leaving for Biloxi, Miss, last night
they will have luncheon today at the
beautiful home of President r. S.
Hecht at Pas Christian, reaching New
Orleans late this afternoon.
1t was learned mere yesterday that
Carter Glass is now resting at Johns
Hopkins Hospital. where he went sew
eral days ago for a physical check
up and will not address the conven-
ton. While the Virginia Senator is
not i'll, his physician advised him to
conserve the energy that would be
required in trip to New Orleans and
q speech there. The bankers will be
deeply disappointed.
There are four administration
speakers on the programmed T.
Crowley. chairman of the Federal
Deposit Insurance Corp; Jesse H.
Jones, chairman of the Reconstruction
Finance Corp: j. F. T. O'Connor. con-
troller of the currency, and Mariner
s. EccleS, governor of the Federal
Reserve System.
While the convention opens tomor-
row with host of committee and
other important meetings, the first
general session comes Tuesday morn
ing, when President Hecht will make
the keynote address, Diversion of
lending activities from Federal agen-
cies back to private channels is ex-
pected to be one Of the big issues
at New Orleans: less and less Gov
ernment control, as Mr.. Hecht puts it.
Banks Open Information Drive.
Washington banks are out to clear
up the mysteries" of banking and
build up much closer relations with
their customers. They propose to do
this by a cooperative advertising
campaign which starts tomorrow in
Capital newspapers in series of an
nouncements entitled Banking Rela-
tions From the Customers Stand
point"
Included in the list of topics to be
discussed are such subjects as Whose
Money Bank Uses" How Loans Are
Made" THE Part Good Management
Plays in Sound Banking" and The
Value Of Cooperation Between Banks
and Their Customers"
The advertisements are to be brief
because each bank proposes to dis
tribute upon request a booklet that
presents each theme in fuller detail
The booklet aims to give information
OF practical value to executives and
business owners, to professional men
and women with financial responsible
tiles as we'll as to every one interested
IN personal independence and progress
Local bank officials disclaim the de-
sire to advertise for more business as
the recent controllers call revealed the
largest deposits ever reported here, but
hope that the booklets will be in gen.
eral demand.
Bonds were in good demand on the
Washington Stock Exchange yester-
day, the first sale being a 81 900 trans
Ter in City & Suburban IS at 9034.
Later there were three ST 900 sales at
80. Washington Gas IS, 1858, sold
at 106 for $1,000 bond. Two sales
were registered in Capital Traction SIS,
q $500 bond selling at 9534 and a
$1,000 denomination at 96, unchanged
from other recent sales.
In the stock division a single share
OF Riggs National common came out at
2l2, the recent prevailing price. Cap
1tal Transit opened with a lO-share
sale at 1712, followed by 50-share and
10-share lots changing ownership at
II, the low for the week. The final
bid was II, with 18 asked. The weeks
closing bid on Washington Railway g.
Electric common stock was $3.50 a
share, same as on Friday, with S750 a
share asked. No sales.
It was announced that while the
New York Stock Exchange and a host
Of other financial markets will be
closed tomorrow, the Washington Ex-
change will be open as usual. The
banks here also will be open.
Retail Sales Here Mount.
Although weather conditions in
Washington were still considered un-
favorable to retail trade. department
store sales showed an increase of 1872
: per cent over the previous week and 2
per cent over the same week last year,
the Department of Commerce reported
In its weekly review, out yesterday.
Bank clearings were higher by 26.5
per cent, compared with the preceding
week and 30.8 per cent higher than the
same 1884 week. the report adds. The
value Of building permits declined "a
per cent from the preceding week as
the result Of two large municipal prof.
ects being included a week ago, but
were 81 times the value reported In
the corresponding week a year ago.
In the whole Fifth Reserve district
retail trade was better than the pre-
vious week and the same week q year
ago. Bank debts rose sharply in Rich
mond. Heavy orders for holiday were
reported by wholesalers all over the
territory. Clearings in Baltimore were
IS per cent ahead of last year.