Evening star., 1937-10-10
MORRIS PLAN BANK.
IS READY TO OPEN |
AT NEW LOCATION
Equipment Moved to Former
Commercial National Site
at Fourteenth and G.
RETAIL TRADE JUMPS
24.42 PER CENT HERE
Sharp Increase During Week Laid
to Government Pay Day and
Special Sales Promotions.
BY EDWARD C. STONE.

BY EDWARD c. STONE.
Moving vast amount of banking
paraphernalla after business hours
yesterday from the ng-occupied To-
cation on H street, the Morris Plan
Bank will open for business tomorrow
in spacious new quarters at the North
west corner of 14th and G streets.
The site was formerly occupied by
the Commercial National Bank and
Is IN the heart of the Northwest busi-
ness section. The former Commercial
banking quarters have been completely
renowned and brought -to-date
In every way. While the inside of
the bank has been completely changed
the outside was not overlooked, the
cleaning it received making it look
like new building.
The Morris Plan Bank will add
much prestige In the new location
and also obtain large amount of
needed space. Willard c. Barker. the
president, said yesterday that the
bank had enjoyed steady growth year
after year and that the installation
OF new departments for the conven-
renee Of customers made larger quar-
ters absolutely necessary The bright
outlook for the future, he added
prompted officials to take the ex-
pansion step.
Moving bank into new quarters
is no easy task. In addition to an
endless number of records and other
banking equipment. the guarding of
funds while in transit always has
to be provided. In this case the
moving-day plans went off without
. hitch. New signs have been on
the bank for several days and it was
stated late last night that everything
was in readiness for the opening. The
bank will have cageless counters. so
popular in many banking institu-
tions.
In addition to President Barker.
officials include B. Russell Shaw. vice
president, and v. Walton Rhine, CASH
Ter; also i've assistant, cashiers. Ed
WIN H. 0. Stokes, G. Crawford Turn
bull. Elwood G. Childers, Samuel E.
Collegeman and Ferdinand D. Walter.
The bank has membership in the
District Bankers Association, Ameri-
can Bankers Association and the
FEDERAL Deposit Insurance Corp.
d. C. Trade in Sharp Rise.
Retail trade in Washington stores
during the last week scored an in
crease of Pap per cent over the pre-
vlous week, the Commerce Department
reported yesterday, due largely to the
Government pay day and to special
sales. Sales, however, were per cent
under the record for the corresponding
week year ago, the review said.
Bank clearingS in the week under
review totaled s24,465 $50, against
s27,428,467 a year ago. Building per-
mits issued during the week were also
oehlnd last year, total of S265, $50
comparing with 1881 1875, and there
was a slight let-up in the number
OF tourists in the Capital
The rest of the fifth district regis
tered a pickup during the week but
noted small trade recession from a
year ago. Warm weather hurt busi-
ness in Baltimore, the report said.
Norfolk reported the best gains in the
territory over last year.
Bank Official Is Promoted.
Directors of the Federal Reserve
Bank of Richmond have appointed
e. L. Guthrie assistant cashier of the
bank, effective at once, Chairman
Robert Lassiter announced yesterday.
Mr., Guthrie, native of Richmond.
mas been with the Reserve institution
Tor more than 18 years, having been
employed in the auditing department
on July l, 1919. During the last -
years he has served at different times
as manager of several important de-
partments.
Banking Students Number 286.
Final figures for the Fall semester
enrollments in Washington Chapter,
American Institute of Banking, classes
nave just been announced by Paul
j. Settler, Educational Committee
chairman. Students from Washing
ton banks and other financial insti-
tutions number 286, enrolled in classes
ranging from elementary banking to
advanced courses in investments and
current economic problems The COM
plete class enrollments are:
Banking I, 102; law, II, "A; banking
II, Al; credits II, 35; investments I,
ID; current economic problems, 16.
Baltz Gets National Honor.
AS noted elsewhere in today's Star,
Edward c. Baltz, secretary of the Per-
petual Building Association, was elect
ed president of the United States
Building and Loan League at the Los
Angeles convention. He was national
vice president last year. A former
president Of the District Building and
Loan League, he has been an outstand-
ing figure in building and loan circles
for years. He is widely known as q
director in the Home Loan Bank at
Winston-Salem, which takes care of
loan requirements in the Capital and
elsewhere in the fifth district.
Financial District Notes.
Lincoln Service Corp. common
stock sold to the extent of 10 shares
on the Washington Stock Exchange
yesterday at 2012, while the preferred
moved in the same amount at A. A
single share of American Security q
Trust &C. stock appeared on the board
at 260.
Mariner S. Eccles, chairman OF the
Federal Reserve Board, has gone to
Boston to attend the American Bank
ers' Association convention.
Controller of the Currency ]. F. T.
O'Connor said yesterday that the unit
VS.. branch banking issue is a matter
for Congress to settle.
The Norfolk Southern r. r. reports
. net loss in eight months of s136, ,066,
against . loss of $307,355 in the like
1886 period.