Evening star., 1937-06-06
Sales 1.41 Per Cent Above
Week Ago, 8.3 Per Cent
Over Year Ago.
A. |. B. DELEGATES LEAVE
FOR ST. PAUL CONCLAVE
Thirteen Members of Chapter Here
Are Headed by Paul J. Seltzer,
Retiring President.
BY EDWARD C. STONE.

Warmer weather helped retail trade
In Washington during the last week,
and sales rose l.4l per cent over the
previous week and 83 per cent over
the like period a year ago, the Com
merce Department reported yester-
day. Bank clearings for the week
ending June were also higher, $23,-
6l7.86l against $2l ,3349l6 year ago.
May building permits revealed a
very substantial gain. permits reach
Ing a total of S4,l22,l35, as compared
with S2570,ll0 in May, 1886. The
review further stated that visitors to
the Capital, as reflected by the Smith
konian figures, also showed slight
increase.
Retail trade in the other cities of
the fifth district was greatly stimu-
lated by warmer weather, the report
added. Wholesale demand followed
the retail trend. Summer apparel,
graduation gifts. vacation and travel
Ing accessories were in particularly
active demand. Charleston, S. c.,
had a gain of more than II per cent
In trade and Norfolk reported whole
sale hardware sales were 25 per cent
better than last year.
Delegates Of to Convention.
Thirteen delegates from Washing
ton Chapter, American Institute OF
Banking, to the national convention
IN st. Paul, left the Capital last eve
ming in charge of Paul j. Seltzer,
retiring head of the local chapter.
The convention opens tomorrow and
closes next Friday. Washington holds
the distinction of having five speakers
on the program. The delegates:
William H. Laughlin, Ralph Endi-
colt and Edward NJ Blaiklock, WASH
ington Loan g. Trust Co.; Paul J.
6eltzer, American Security g. Trust
Co.; l. j. Roberts and John NJ. Chris
tie, Riggs National; Joseph R. Fitz-
patrick, Second National George NJ
Rowzee and George R. Gallagher,
Lincoln National; G. Elmer Flather,
Union Trust Co.; T. Hunton Leith,
Security Savings & Commercial, and
J. Earle McGeary, w. B. Hibbs & Co.
Messrs. Roberts, Seltzer, McGeary.
Fitzpatrick and Endicott will address
the business sessions.
McAdoo Banking Bills Opposed.
Tom K. Smith, president of the
American Bankers Association, an
nounced yesterday that, based on ac-
Mon of the general convention of the
association on the branch banking
question at New Orleans in 1885, the
Interim Committee of the organiza-
ton has reached the conclusion that
the association should oppose McAdoo
bills S2347 and S2348 providing for
branch banking across State lines.
The convention of the association
hn 1885 approved section % of the
banking act of 1888 which provided in
substance, it is stated, that national
banks should be permitted to establish
branches in various States in which
they are domiciled where branch bank
ing is permitted under State law, the
effect of that section being to put
national banks on a parity with State
banks, which might be permitted to
establish Statewide, county or city
branches. without violating the prin-
ciple Of State autonomy.
Auditors to Elect Officers.
The annual election of the auditors
section of the District Bankers As
sociation is set for next Thursday
evening at the Wardman Park Hotel.
where the annual dinner will take
place, 1t was announced yesterday.
Millard S. Yeatman, retiring chair
man, will preside, about Is members
and guests having reservations.
According to the present slate, Harry
Downey will be advanced from vice
president to president, and Gerald
keene, Second National, will set up
from secretary-treasurer to vice presi-
dent. The annual report will be pre-
Sented and it is expected that the
new president of the District Bankers
Association, Thomas J. Groom, will
speak briefly.
Baby Bonds Being Pushed.
The Treasury is starting a new
promotion campaign to stimulate its
sales OF baby bonds, thus increasing
A'o AiidlCllR oIl dIlOINer front.
Sales OF these securities, known
oficially as savings bonds, now yield
the Treasury on the average. about
el,000,000 day, and the new direct
mail campaign is expected to increase
this average sharply.
Timing its new sales drive so that
II will reach its height while investors
are receiving July interest and divi-
dend distribution, the Treasury ex-
poets to continue its promotion work
throughout the rest of the year.
Financial District Notes.
The Washington Stock Exchange
was closed yesterday, as it will be
Ivery Saturday until September.
The Mortgage Bankers Association
has selected Cleveland for the next
convention, on October 13, IA and Is.
Class l railroads In the Southern
district In the first four months of
1887 had net railway operating in
come of $30,472,437 VS.. s22,671,57s.
Reports from retail executives at
tending the two-day conference held
he:e under sponsorship of the Ameri-
can Retail Federation indicated busi-
ness generally is running ahead of
last year. The outlook for retail
business during the Summer months
was seen as encouraging.