Evening star. [volume] (Washington, D.C.) 1854-1972, 1935-09-09
ADVERTISING DRIVE
URGED BY BROOKS
Banker FavorS Colossal
Campaign to Present
Facts to Public.
BY EDWARD c. STONE.

mana q COLOSSAL NdIIOllWIut duNCAtL
ing campaign, regardless of expense,
to build a foundation of what he
called sound economic fact in the
hearts and minds of the American
people. In further urging such drive,
he added:
II submit to you that the first bust
ness of the world today is to arm its
people wholesale with a few simple
economic facts and teach them to be-
lieve those facts as the believe in their
God.
The time now is here when a con-
tinuance of submissive silence by
American finance is neither wise nor
safe.
Il for one wish to go on record, here
and now. as advocating immediate,
comprehensive, aggressive. permanent
and Nationwide procedure, in defense
of the immutable laws of economics
to which America must cling, or else
perish"
The speaker who is president of the
First National Bank of Pittsburgh,
touched on a question which is being
discussed by all the banks in the
United States. There seems to be a
growing feeling in most banking cir
cles that there should be more public
information on the inside operations
of the banks. The opponents of the
idea claim that the general public is
not interested in the details of bank
ing. the main point at issue being the
koundneSS of these institutions.
Advertising Boom Forecast.
IL. Sporting, assistant vice presi-
dent of the Cleveland Trust Co. and
president of the Financial Advertisers
Association, predicted that the volume
of the financial advertising would sur
pass the depression volume as the
problems of the recovery period passed.
He urged the bankers to keep the
name of their institution before the
public at all times. but he warned "a
good public relations program is a
profitable part of good banking, but
not substitute for it"
Among Washington bankers attend
ing the Atlantic City convention are
Joshua Evans, vice president of the
Hamilton National Bank. and Eliot H
Thomson, publicity manager of the
Washington Loan & Trust Co. One of
the leading speakers on tomorrows
program is Robert V. Fleming, head
of Riggs and first vice president of the
American Bankers Association.
Market Opens With Rush.
Interest in the action of the New
York Stock Market since the breath
ing SPELL pronouncement increased
over Sunday, judging by the jam in
the local brokerage houses when the
tape started flashing quotations to-
day. The attendance revived men,
cries of the 1929 boom
Traders and investors saw a very
active opening with prices strong. In
some instances quotations were under
the Saturday close. but the volume
was in line with business at the end
of the week. There is so much
enthusiasm in the board rooms that
some brokers are now predicting
5000 000-share days before the end
of the year.
1t appears that clients away on
vacations got back just about the
right time to see some real action.
Washington bankers we're said today
to be watching the New York market
with intense interest. It was limited
that recent new high marks in some
stocks have enabled customers to pay
off loans that have been running since
1929. While these loans are being
paid off, bankers say a good many
new loans are likely to be made for
investment purposes.
Peoples Drug Sales Mounting.
Sales of Peoples Drug Stores for
August, as reported in The Sunday
Star, revealed a gain of 23.6 per cent
over the corresponding month year
ago. Sales for the first eight months
of the year totaled $12 ,278 466, against
S10,669627 in the same period a year
ago. This is an increase of 81 .608, $50,
or Is per cent. Sales in August we're
ahead of those in July when the total
dollar volume revealed an increase of
179 per cent, compared with July,
1884
Sales of c. c. Murphy chain
stores for August, reported today.
show a total of S2,512814, against
S2118,051 in August. 1884, an in
crease of S394763 or 1876 per cent.
For the first eight months of this
year sales were III per cent better
than last year. July sales scored an
increase of 1874 per cent over the
same month in 1884
The Federal Reserve Bank of Rich
mond reports that business in this
territory in the first week in Sep
TENDER was at the lowest level in
months, due to the holiday on Mon
day, followed by terrific rain and
wind storms which hampered trade
and all outdoor activities Improve
ment in customs collections is re-
ported at Baltimore, Norfolk and
Richmond.
Today's Trading on Exchange.
Business on the Washington Stock
Exchange opened for the week with
Washington Loan & Trust Co. stock
selling at 1882 for seven shares
Later 10 more shares sold at 200.
Potomac Electric Power SD per cent
preferred came out again today, three
Gales totaling 25 shares bringing 11312
unchanged This issue is at present
one of the most popular on the board,
as we'll as one of the strongest.
The final sale was in Capital Tran
sit, 10 shares of the transportation
issue moving at 17l2. This was an
advance of a half point since the
market closed Saturday. The final
bid was 17l4, with 18 asked
Washington Chapter, American In
stitute of Banking, will have its gradu-
ating exercises at the Willard Hotel
this evening. The radio part Of the
program will come in over WRC be-
tween $50 and o'clock
New Passenger Record.
A new record for passengers carried
In a month was set by the scheduled
airlines operating in the United States