Evening star., 1935-11-11
|D.C.BANKSLAUNCH'
ADVERTISING DRIVE
Customers to Become Bet.
ter Acquainted With Vari.
Gus Services Offered.
BY EDWARD C. STONE.

services offered and with banking op-
erations in general. Every bank IN
the city today was presenting book
lets to customers which picture the
business of banking in a most inter-
esting and understandable light. 1t
is hoped that every depositor will take
one, the booklets being free.
Right now the banks everywhere are
stressing public relations. Bankers
declare a new deal is needed. They
tell their customers their business Is
making loans. But If loans have to
be refused they want the patrons to
understand the reasons why. Prac-
tically every angle of banking Will
be covered during the campaign.
For the District Bankers ASsocia-
ton the data was first prepared by
the Advertising Committee, of which
Robert L. Flather of the American
Security e. Trust Co.. is chairman this
year. and Eliot H. Thomson OF the
Washington Loan g. Trust Co. was
chairman last year, when the plans
were first discussed.
Final launching of the information
campaign was urged by a special COM
mittee under the Craftsmanship OF
Hilleary G.. HoSkinson of the Riggs
National Bank and an officer in the
association. The booklets are most at
tractive and crowded with banking
facts.
Wales Joins Investment Group.
Kenneth S. Wales of K. S. Wales l.
Co., has lust been notified of the elec-
ton of his firm to membership in the
| Investment Bankers Association OF
America. Mr. Wales was in charge
of the Washington Office OF Bon
bright & Co. for II years and formed
his own firm in October. 1882, main
tanning Offices in the Hill Building.
! He purchased a seat on the Washing
/ ton Stock Exchange and has been
active in local securities as we'll as
specializing in public utility bonds
| and stocks. Mr.. Wales is also for
mer president of the Bond Club Of
Washington.
President Orrin G. Wood of the
Investment Bankers Association, an
nounced today that Sc applicants were
approved at the Chicago meeting,
bringing the total membership from
all parts of the United States and
Canada up to 6S7.
This was one of the largest groups
of new members since the 1929 Wall
Street crash, the official asserting
that this shows clearly how rapidly
the securities business is improving.
Demands U. S. Cut Lending.
An appeal to the Federal admins
tration to commence curtailment OF
its money-lending activities was made
by James C. Bolton, vice president,
Rapides Bank & Trust Co., Alexan-
dria. La, in an address before the
State bank division of the American
Bankers Association at New Orleans
today.
Mr.. Bolton asserted, according to
dispatches. that the banks are con-
tinuing to be faced with Government
competition through the postal saw
ings system for deposits, but declared
competition for loans Is more serious
at the moment than competition fer
deposits. although the banks must
have both to prosper In this field
we are seriously handicapped by the
competition of many governmental
agencies, most of which were organized
as emergency measures"
He pointed out that excess reserves
are at the largest point in history
and declared: With confidence fully
restored in the sound banking system
which the country has today and
bankers willing to consider lending on
a normal basis, the emergency has
passed and it is time to start curtail-
ing these extra governmental actiyi-
ties"
The meeting also was addressed by
J. Harvie Wilkinson, jr., vice preSi-
dent State Planters Bank e. Trust
Co., Richmond, who spoke on I'm
provement Problems of Banks" Rich
ard r. Quay. counsel Federal Housing
Administration, spoke on Mortgages
as Investments for State Banks"
O'Connor Reports on Banks.
Controller ]. F. T. O'Connor an
nounces completion Of liquidation Of
Is receiverships during october, max
ing a total of 159 receiverships finally
closed or restored to solvency since
his last annual report to Congress,
dated October 81. 1884. Total dis
bursements, including offsets allowed
depositors, exclusive Of II receivershlps
restored to solvency. aggregated $685.
489, ,342, or an average return of 71.79
per cent of total liabilities, while ur-
secured depositors received dividends
amounting to an average OF 1888 per
cent of their claims.
Exchange Trading Lively.
Capital Transit stock was bit
stronger on the washington Stock
Exchange today when three shares
changed hands at 17H. The stock
closed with 1872 bid and II asked.
Potomac Electric Power 5l2 per cent
preferred came out on five sales at
lis, while the 6 per cent preferred
moved at Ill.
Lanston Monotype recorded five 10
share sales and one of six shares at
IS. Mergenthaler Linotype was also
out today, 10 shares changing hands
at "a. There was also 10-share sale
in washington Railway & Electric
preferred stock at 107lz.
The bid on w. r. g. E. common
stock again stood at $3.50 a share
with the asked price unchanged at
$3.50 a share.