Evening star., 1937-07-18
Trade Also Fails to Equal
Fast Pace During Bonus
Spending in 1886.
INSURANCE FIRM NAMES
ALFRED n. LAWSON HEAD
James L. Sherwood Is Reelected
to Presidency Of Northeast
Building Association.
BY EDWARD C. STONE.


serve district during the past week
department store sales in Washington
were over IS per cent below the pre-
vious week and ll.85 per cent under
the corresponding week year ago, the
Commerce Department reported yes
terday in its weekly review covering
81 key cities.
Bank clearings in the Capital for
the week ending July IA totaled $25,-
1923 ,268, as compared with S22 ,566.43l
In the like period last year, showing
that general business conditions here
of building permits revealed slump
the weeks total amounting to s449. 400
against $694,000 in the same week ir
1885. Visitors to the Smithsonian In
stitution numbered 66,09l. in COM
parison with l935O3 during the pre-
vious week, which saw the height OF
the Boy Scout Jamboree, and 52,325
year ago.
The best retail trade record in the
fifth district was a Is per cent upturn
In Charleston, S. c.. followed by a
13 per cent advance in Richmond and
particularly good retail business in
Baltimore. Reasons for the failure OF
the other cities. according to local
merchants, were the very heavy soldier
bonus buying at this time year age
and the high temperature accom-
panied by heavy showers during the
best part of several shopping days.
The let-up is considered temporary.
lawson Insurance President.
Alfred H. Lawson, vice president
and trust officer of the Washington
Loan & Trust Co., was reelected
president of the National Union In
surance Co. of this city at the recent
annual meeting.
Stockholders of the company. which
was chartered in 1865. elected these
directors for the ensuing year: Will
liam L. Beale, Charles r. Brown,
Floyd E. Davis. Alfred H Lawson. Will
liam H. Marbury. Walter S. Pratt, ir.;
John Saul, James P, Schick and Will
liam H. Somervell.
At the organization meeting of the
directors held Friday the following
officers were elected: Alfred H. Law
son, president; John Saul, vice presi-
dent; Floyd E. Davis, vice president:
William H. Somervel. secretary, and
William H. Marbury, assistant secre-
tary.
Sherwood Heads Loan Group.
At the annual meeting of the stock
socistion, held at 2010 Rhode Island
avenue northeast, the following were
elected directors: Henry c. Althoff,
Julian F. Belfield R. John Boehs, N.
T. Chaconas, Allen E. Cowles, A. L.
Foster, Hazel r. Engelbrecht, J. A.
Openshaw. James E. Payne, John B.
Rubino. James L. Sherwood. Roy L.
Swanson, Schuyler S. Symons and
William S. Torbert
At the directors meeting James L.
Sherwood was reelected president,
William S. Torbert. first vice presi-
dent; Henry c. Althoff, second vice
president: Schuyler S. Synons, secre-
tary; Allen E. Cowles, assistant sec
retary; James E. Payne, treasurer;
Hazel r. Engelbrecht, assistant treas
urer, and William S. Tobert, counsel.
Mr.. Sherwood has been president of
the association since it was organized
in 1915, and has guided it from its
small beginning of $500 in assets
up to and over the million dollar
mark. He is also manager of the
Brookland Branch of the Hamilton
National Bank
Mr.. Torbert has been with the Or
eanization since its beginning and
has served as counsel. Mr.. Symons,
secretary, also aided in organizing the
association and has recently found it
necessary to devote his entire time
to the work.
Business Pickup Forecast.
The mid-year review of Inde-
pendence Fund of North America,
Inc, being distributed in Washington
by Slauson, White &, Rowe, minimizes
several unfarovarble factors which
have been confronting the business
world and expresses the prediction
that early Fall will see improvement
and that considerable progress will
have been made by the end of the
year. The forecast states that stocks
are likely to be considerably higher
by the end Of 1887.
The Travellers Insurance Co. has
eelected Washington as an investment
field and appointed the H. G.. Smithy
Co. as local loan correspondents, it
WAS announced here yesterday. The
Smithy company was organized in
1890. taking over the business of the
N. L. Sansbury Co. The president is
H. g. Smithy. member of the Wash
ington Real Estate Board and active
In the real estate business for the past
80 years. Francis A. Murray is vice
president Of the company, Frank H.
Harrison, treasurer, and S. Miles
Montgomery, secretary
Dividends of $845,868 were distrib-
uted by of the IL Federal Home
Loan Banks for the first half of 1887,
Preston Delano, governor of the bank
system. announced yesterday. Approx
inately 80 per cent of the dividends
went to the United States Treasury
the largest stockholder in the banks,
and the balance to the 1886 member
thrift and home financing institutions.
The rates ranged from to per cent
per annum.
Daily average sales Of general
merchandise in small towns and rural
areas for June were about liz per
cent higher in dollar volume than for
June, 1896, and were higher than for
any like month since 1929, the Bureau
Of Foreign and Domestic Commerce
reported yesterday.