Evening star., 1936-02-09
D. c. Bankers to Take Part
in New York ConCIave
Opening Tuesday.
TALKS WILL BE GIVEN
BYFLEMING AND WYATT
Washington Trade Leads Entire
Fifth District With Jump
of 20 Per Cent.
BY EDWARD C. STONE.

attend the Midwinter Trust Confer
ence, sponsored by the American
Bankers Association, which opens
three-day session at the Waldorf
Astoria in New York next Tuesday, 1t
was learned here yesterday. The trust
division president, M. P. Galloway of
the Guaranty Trust Co.. will preside.
Robert V. Fleming, head of the A.
3. A, will give an address on the
Social Significance of Trust Service"
at the second days session and will
also speak at the banquet concluding
the conference on Thursday evening.
Another resident of the Capital, Wal
ter Wyatt, general counsel of the Fed
eral Reserve Board, is to discuss
Supervisory Policies of the Federal
Reserve System"
Besides Mr. Fleming and Mr. Wyatt,
Washington will be represented by
Sidney F. Taliaferro. vice president
and trust officer, Riggs National Bank;
from the American Security & Trust
Co., Corcoran Thorn, president; Fred
erick P. H. Siddons, secretary; T.
Stanley Holland, trust officer, and
Frank M. Perley investment trust Of
f1cer: also Ord Preston. president
Union Trust Co.; Joshua Evans, jr.,
vice president Hamilton National
Bank, and Leonard Marbury, assistant
trust officer Washington Loan &
Trust Co.
AS already stated, other addresses
will cover public relations. business de-
velopment, legislative trends, trust
fees, operating methods for trust de-
partments and the best investments
for trust funds. It is considered one
of the best programs offered in several
years.
d. c. Trade Tops This Area.
Notwithstanding the longest cold
snap in 40-odd years, Washington de-
partment stores recovered from the
trade slump of the previous week with
an increase of 20 per cent, at the
same time scoring a 3.6 per cent gain
over retail sales in the corresponding
week a year ago. These substantial
sales increases we're the exception in
the whole fifth district, as the weather
proved severe trade deterrent in all
the other cities in this territory, the
Department of Commerce reported
yesterday.
Bank clearings in the Capital were
up more than IA per cent from the
previous week and 1928 per cent over
the same period in 1885. The value
of building permits was off from the
previous week, but rs per cent better
than the corresponding week a year
ago, which incidentally included a
$150,000 Office building. The number
Of visitors at the Washington Monu-
ment. 4,265, was far under the usual
mark, but still ahead of the previous
week and year ago.
The report for the whole fifth dis
trict showed tobacco sales in Virginia
Increased in volume over last year. but
income was off per cent.
Institute President Coming.
Maynard w. E. Park, president of
the American Institute of Banking,
will attend the annual banquet of
Washington Chapter at the Willard
February % and be cue of the chief
speakers, General Chairman A. E.
Henze announced yesterday. 1t is
considered a great honor to have the
national president at the chapter din
ners.
Mr.. Park is native of Kansas City,
was educated there and started his
banking career as a messenger. After
13 years banking experience he joined
the staff of the Federal Reserve Bank
in his home city, soon being made as
siStant cashier in charge of the money
department.
He has attended IL national con-
ventions and been very active in COM
mittee work He was elected vice
president of the institute at the ma
tional convention held in Washington
in 1884 and president at the Omaha
convention IN 1895. At the Baltimore
convention in 1924 he won the ma
tional championship in debate.
Peoples Drug Sales Higher.
Net sales of Peoples Drug Stores,
Inc, in January continued the ad-
vances reported at the end of 1885.
January sales totaled $1,6l2,984, in
comparison with $1,466,95S, up $l46,-
026, or 90 per cent. Sales for Decem-
Der showed an increase of 7.8 per cent
over December, 1884.
Members of the Washington Stock
Exchange were storm-bound so far as
trading was concerned yesterday.
They held one of the lightest sessions
on record, just one transfer taking
place. This was $1,000 transaction
in City & Suburban SIS, the bonds
bringing 86. Mergenthaler Linotype
stock, which was so active early in the
week, failed to register any sales yes
terday, closing the week with 451a bid
and AZ asked. Mergenthaler gained
q point in Boston Friday, selling at 46.
The Federal Reserve Bank of Rich
nond reports that between January
Is, 1885, and January IS, 1886, loans
direct to industry rose by $2,4i6,000
and holdings of Government securities
increased at the Richmond Bank by
$13,153,0 900. The changes in earnings
assets resulted in a net increase Of
$l5,280,0o during the year.
Brokers in the Offices here are hop
ing the Supreme Courts r. v. A. de-
cision will come tomorrow. Regard
less Of the findings. great activity is
expected to follow the ruling.
BANK LOANS PLANNED.
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