Evening star., 1938-04-14
BUILDING, LOAN
CHIEFS TO CONFER
Session Here Is Expected to
Draw Over 500 Leaders
in Southeast Area.
By EDWARD c. STONE.


flower Hotel here on April o. it was
stated today.
The District of Columbia, with its
~ building and loan associations hav-
ing combined assets of Sl13.270, ,492,
will be one of the most widely repre-
sented districts at the conference
Thirteen States will be represented,
all located south of the Mason and
Dixon Line and the Ohio River and
east of the MISSISSIPPI. There will
also be unofficial representatives from
other parts of the country, building
and loan men say.
AS already noted, Sir Harold Bell
man, managing director of London's
largest building society, as we'll as
president of the International Con-
gress of Building Societies which
meets this year in Zurich, Switzer-
land, will be one of the headline
speakers. Carl }. Bergman, one of
Washington's building and loan lead
ers and a conference director, is on
the program as is Lowell j. ChaWner
OF the Department of Commerce.
Speakers from elsewhere in the
country will discuss such subjects as
Loans to Operative Builders" "Crea-
tive Selling for Savings and Loan"
Lending Policies" 80 Per Cent Loans
and the F. H, A." and Advertising
and Promotion"
James H. Hammond, South Caro-
lima, is president of the conference.
The Southeast, he says, is rapidly
coming to the fore in savings, build
ing and loan national progress and
has made twice the strides of any
other section of the country in the
last five years in this field.
New Broker "Set-up" Ready.
The map of brokerage houses in the
financial district will change tomorrow
when the New York Stock Exchange
firm of G. M. P. Murphy e. Co. long
located on H street, will move to the
present Offices of Hartman e. Keech
on Fifteenth street. At the same time
the firm of Hartman & Keech will
be dissolved.
John E. Parker. who was made a
resident partner in G. M. P. Murphy
g. Co. several days ago. will be joined
by George A. Garrett, who becomes a
resident partner in the same firm, and
remains in his present office.
Ferry K Heath, the other Hartman
e. Keech resident partner. has already
become associated as resident partner
of Winthrop, Mitchell g. Co. in the
Securities Building. He will be the
firms only partner in this city. In
addition to Maj. Heath. it was an
nounced today that Henry w. Hull,
William J. Cunningham, Malcolm S,
McConihe, jr., and George F. Brennan
have been admitted to the firm as
partners.
Members of the Hartman g. Keech
staff, who are to join the Winthrop,
Mitchell Office, will move after the
market closes today. Tomorrow the
G. M. P. Murphy staff will move to
the Hartman g. Keech Office, at the
same time taking over many members
Of the staff already located there.
c. Carroll Morgan, for many years
one of the managers of the Murphy
Office here, is now associated with G..
Bowie Chapman in the management
of the Washington Office of Laidlaw
s. Co.
Easter Shopping Reaches Peak.
Better weather and the approach of
Easter have brought the usual sharp
squirt in retail sales throughout the
country. However, sales volume on
the average is running about 7 per
cent to 8 per cent behind the week
preceding Easter last year, although
it is running we'll ahead of last week
and of the second week in April last
year, which came after Easter
The business level varies somewhat
around the country, with sales in New
York, Boston and Washington fairly
satisfactory, while business in the
Middle Western industrial centers is
Disappointing.
Washington business has cheered
storekeepers considerably with a jump
Of almost 20 per cent last week over
the preceding week and 10 per cent
over the first week in April, 1887.
d. C. Auditors to Speak.
Harry L. Downey. chairman of the
auditors section, District of Columbia
Bankers Association, announces that
members of the section are making
plans to attend the sixth annual
Eastern Regional Conference of Bank
Auditors and Controllers, in Philadel-
phia next Friday and Saturday.
The local group will be represented
on the program by Raymond G. Marx,
controller of the Riggs National Bank,
who will preside at one of the ses-
sions, and Arthur j. Linn, controller
of the Hamilton National Bank, who
is president of the National Associa-
ton of Bank Auditors and Controllers.
Crowley Reports Huge Surplus.
The surplus of the Federal Deposit
Insurance Corp. now exceeds $780,
100000, Chairman Leo T. Crowley to-
day announced. The figure of $780,
7O3,322, reported as surplus on the
corporations condensed balance sheet
as of February %. 1888, includes as
sesSments in the amount of $92,251,-
5l3 as well as s8,45l 1903 representing
all expenses and losses to that date.
j. Earle McGeary of w. B. Hibbs
& Co. and chairman of the Public
Speaking Committee of Washington
Chapter, American Institute of Bank
ing, has completed plans for the an
nual contest to be held this evening
in the chapter rooms. The prizes at
stake will be the Bank Presidents
Cup and the right to represent the
chapter in the A. P. Giannini contest
at the national convention in Louis
vile.
Heard in Financial District.
While the Washington Stock Ex-
change and New York Exchange
Offices here will be closed tomorrow,
the banks will be open as usual They
will be swamped with work, as it is
q Government pay day.