Evening star., 1937-06-13
Ten Experts Will Represent
Washington Chapter at
Hot Springs, Va.
RETAIL SALES SHOW
LARGE INCREASE HERE
Gain Averages 1895 Per Cent
Over Previous Week and 1881
Above Year Ago.
BY EDWARD C. STONE.

Ten expert accountants will repre-
sent Washington Chapter, National
Association of Cost Accountants, at
the Eighteenth International Cost
Conference, opening at Hot Springs,
Va, next week, it was announced yes
terday. More than $50 delegates from
the so chapters in this country and
Hawaii are expected to attend, nation
ally known speakers will appear on
the program and the Robinson-Pat-
man act will be given one full days
consideration. The delegation from
the Capital will include:
c. Milton Clark, treasurer. Central
Bank Of Co-operatives; Walter F. Ray
mond, president-elect OF the chapter
and chief accountant for the Griffith
Consumers Co.: John L. Mitchell, Sec
fetary OF the chapter and auditor Of
6hannan & Luchs; William H.
Churchill, controller Of Peoples Drug
Stores, Inc; A. B. Gunnarson. United
States Chamber of Commerce; William
L. Slattery, controller Of the Post Office
Department: William M. Deviny.
Catholic University of America; ONeal
M. Johnston, International Asoscia-
ton of Ice Cream Manufacturers:
George D. Lane, Felt & Tarrant
Manufacturing Co., and Lloyd V. VIII
liams, Western Electric Co.
DR.. Willard l.. Thorp Of Dun d
Bradstreet, will be one of the leading
speakers, Accounting for the Patman
Act" being his subject. According to
c. Milton Clark, president of Wash
ington Chapter, controller and cost
accountants are looking for a great
deal of guidance from DR.. Thorp.
Another speaker along this line will
be A. S. Aronson of the National Dairy
Products Corp.
Other speakers include Walter Titus
vice president, International Business
Machines Corp; DR.. Charles Reitell,
New York City, and O.Neal M. John
son, one Of Washington Chapters
directors and an accountant for the
international Association Of Ice Cream
Manufacturers. He will speak Thurs
day, June "a, on Distribution Costs
Ill QllC 1SC SlCdlll 1 lIC
conference will close on that Gate.
D. c. Retail Sales Jump.
Retail sales in Washington depart
ment stores scored substantial in
creases for the week ending June 8,
the Commerce Department reported
yesterday. The average pickup over
the previous week was 1895 per cent
and over the corresponding week last
year 1851 per cent, the report stated.
The substantial improvement was
largely due to the stimulus Of better
weather.
Bank clearings of s28,129,62s COM
pared with only s23,864 022 in the
same week in 1886 While clearings
we're up, building permits totaled only
S5l4,s00 against $1,571l00 last year.
There was also a falling off in the
number of visitors at the Washington
Monument.
The rest OF the fifth district re-
ported steady business improvement
Trade was especially good in Balti-
more; Charleston, S. c.. reported the
best percentage gains; Richmond had
. striking increase in building ac-
tivity.
O'Connor Finds Banks Sound
Net additions to profits in the past
two years clearly indicate that the
banking structure of the Nation is in
. healthy condition, remarkable re-
covery having been made since the
depression. Controller j. 2 T. O'Con-
nor told Idaho bankers the other day
He explained that in 1881. consolidated
returns Of all nation banks showed
the first deficit for a similar period in
the history Of the system and each of
the calendar years 1882, 1888 and
1884 also reported deficits. In 1885,
however, net additions to profits Of
t158,49l 900 were reported and for
1896, $3l4,143,000. Earnings for 1886,
he said, represent gain Of s600,259,-
900 over the deficit reported in 1888
The controller called the establish
nent Of the Federal Deposit Insurance
Corp. lone of the most constructive
and far-reaching additions ever made
70 the banking law of this country"
Income of the corporation from its
investments in Government bonds has
been more than sufficient to date to
pay the losses and overhead of the
corporation, leaving the original cap
ital and assessments paid by the banks
unimpaired, he said.
Heard in Financial District.
The Atlantic Coast Line Railroad
reported for the first four months of
1887 net income equal to $348 a
share on the common stock, VS.. $l.59
. year ago.
Assistant Secretary of the Treasury
Taylor announces that total subscrip-
tions on the Treasury $500, ,000, 900
note offering aggregated 1895, ,00o,-
900, making the issue more than six
times oversubscribed.
Daily average sales of variety stores
IN the whole country in the first five
months of this year were per cent
above the sales volume a year ago,
the Department of Commerce reports
Investment firms in the city are
much interested in the announcement
by the Washington Gas Light Co.
that the proposed $10,000,000 bond
issue has been abandoned and that
In its place a stock issue will be
put out to be handled as far as pos
AN -