Evening star. [volume] (Washington, D.C.) 1854-1972, 1938-08-07
Bankers Say Arrangements
for Commercial Credit
Ahead of Schedule.
D. c. RETAIL ACTIVITY
ABOUT STEADY IN WEEK
Volumes Remain Moderately
Below Year Ag@July Building
Rises Above 1887.
By DONALD b. HADLEY.

banks here revealed yesterday.
Expectations of pickup in retail
activity, increasing confidence. reduced
inventories and effects of nation
wide recovery stimulated by heavy
Government spending were among the
factors mentioned by the bankers.
Various authoritive business reviews
this week mentioned another factor,
the possibility of higher prices.
One bank executive declared appli-
cations for commercial lines of credit
were running from IS to 40 per cent
ahead of this time a year ago in his
institution.
The Capital is feeling effects Of a
sharp rebound in industrial centers,
which suffered much more in the de-
preston, it was said. The stable
Government payroll and other gov
ernmental expenditures helped to
moderate trade declines here and as
result the recovery is less spectacular
than in other cities.
The banks are going out after new
loan business in an aggressive way.
Letters to depositors. advertising and
placards are among the methods being
used to acquaint the public with the
various services and policies of the
banks.
Retail Trade Lays.
During the week ended Thursday,
Washington retail trade averaged 1923
per cent below the comparative period
last year. according to the Depart
ment of Commerce weekly survey of
IS cities.
All reporting stores either registered
increases or business on a par with
the previous week. The complete
range was from a decrease Of OTIS
per cent to an increase Of $40 per cent.
Bank clearings totaled $22,222,771
compared with So, 694, 984 a year ago:
visitors to the Washington Monu-
ment reached 22,77O against 24,707 in
the previous week and 29,13S a year
ago: building permits totaled $751;
100, including 81 zoo, 900 for q large
department store warehouse, against
$1,166,350 a year ago.
Building Above 1887.
July pIUtCu W VIC Vic AL SU ulOutAA "a
1898 which brought an increase in
building permits over the same 1887
month. The volume of S2,959,9l0
compared with $2,560405 in July
year ago.
The review also pointed out pas
senger revenue of the Capital Transit
Co. for the week ended August was
above the similar 1887 week, the total
Of $l92,537 comparing with $l88,5 42
. year ago.
Trade trends in the Fifth Reserve
district varied. with Charleston. S. c.,
and Norfolk reporting increases over
the previous week while Baltimore
reported a decrease. Compared with
q year ago. Baltimore and Charleston
reported declines while Norfolk re-
ported an increase.
Insurance Group Formed.
A constitution and bylaws are
being drafted for the District Of Co.
lumbia- Maryland Life Underwriters
Association, declares Paul H. Primm,
president of the new organization and
q past president of the District asso-
citation. The association will be in
corporated in Maryland.
The organization will provide for
close cooperation and unity of action
among associations of this region in
presenting underwriting views at both
Annapolis and on Capitol Hill.
Richard W. Griswold, president of
the District Life Underwriters Aso-
citation; J. Henry Hooper, president of
the Baltimore association, and F. w.
kremer. president of the Cumberland
association, are vice presidents.
Air Travel Jumps.
Passengers flown to Washington via
Eastern Air Lines during the first six
months of this year increased 24.9
per cent as compared with the corre-
spending period of last year, according
to Paul H. Brattain, vice president of
the airline.
The volume of passengers carried
from the Capital City via the Great
Silver Fleet during this time increased
PSI per cent.
The greatest individual increase in
. given source of revenue from jan
uary l to June 80 was in Air Express
.ounds carried from Washington. Air
Express increased 37.9 per cent Air
mail pounds increased 1927 per cent, |
thereby providing the second great
est single increase of the six-month |
period.
Insurance Agents Busy.
The Washington Office of the Berk-
shire Life Insurance Co. made q fine |
record in July with business for the |
month climbing 116 percent above the
same 1887 month. The firms offices
over the Nation showed a gain of "a
percent over July, 1887. j. E.
McCombe Is general agent for the
company here.
Archibald M. McLachlen, secretary
treasurer of McLachlen Banking Corp.
and second vice president of the Dis
trict Of Columbia Bankers Association
will leave this coming week for va
cation at Hot Springs. Va.
Floyd Davis, president of the Lin
coin National Bank, is vacationing at
his summer home in Nomini, Va, on
the Potomac river.
Francis E. Robey, assistant cashier
and manager Of the H street branch
Of the Bank of Commerce g. Saw
ings Is away on his vacation. He has
spent some of the time at Ocean City,
Nd, and expects to be back in another
week.
Mrs. Helen r. Sharpe, chairman Of
the safe deposit section Of the Dis
trict Of Columbia Bankers Association,
Is taking q vacation from her duties