Evening star., 1938-06-04

January ~ $582,169 $577, ,503
February --- 547,277 581 ,S99
March -- 637,945 685. .946
April 624.646 6l5.897
May --- 580,183 588, ,407
Bankers OFF to Louisville.
First members of the Washington
delegation to the American Institute
of Banking convention at Louisville,
KY, next week, will leave the Capital
late today and the rest will start to-
morrow. Some of the junior bankers
are planning for a days golf on the
links at White Sulphur Springs, join
ing their associates on the train late
tomorrow night.
Washington furnishes two speakers
on the program and a candidate for
national public speaking honors. B
Magruder Wingfeld, assistant general
counsel of the Federal Reserve Board,
will address the trust business con-
ference and Edward N. Blaiklock,
Washington Loan g. Trust Co.. will
talk about Newspaper Publicity" The
Districts candidate for public speak
ing honors is Roland Carr of the
Riggs National Bank. About 1000
delegates have made reservations for
the conclave.
The Washington delegation will be
composed of Edward M. Blaiklock,
Washington Loan & Trust Co.;
Roland T. Carr, John M. Christie,
Riggs National; Aubrey 0. Dooley,
Hamilton; Jeona Draeger, Washing
ton Loan & Trust Co.. Joseph r.
Fitzpatrick, Second National @.
Elmer Flather, Union Trust Co.; T.
Hunton Leith, Security Savings &
Commercial; j. Earle McGeary, w. B.
Hibbs g. Co.; Miss Helene Reibestein
Interstate Commerce Commission; 1.
J.. Roberts, Riggs National; Francis
E. Robey, Bank of Commerce g. Saw
ings; George NJ Rowzee, jr.s Lincoln
National; Paul j. Seltzer and Mrs.
Seltzer, American Security & Trust
Co., and Neal Wells, National Savings
g. Trust Co.
Myers Urges Decentralization.
Further decentralization of the
Farm Credit Administration in favor
of broader distribution of authority
and responsibility among stockholders
In national farm-loan associations is
being urged by w. I. Myers, governor
Of the administration.
Mr.. Myers recommendation con-
tanned in the annual report of the
F. C. A. to be published within the
next 10 days, stresses the need for
greater responsibility for member
borrowers in the affairs of the Federal
land banks and the other agencies
under the jurisdiction of F. c. A.
The report discloses that during 1887
loans totaling $137,934,317 were ap-
proved by the land banks. acting for
themselves or as agents for the land
bank commissioner. Over the same
period commissioner loans amounting
to Sl03, ,902 were closed and COM
nlitments for s54,105,o45 were with
drawn or Cancelled after approval.
Financial District Notes.
One of the most interesting finan-
cial announcements of the week came
from the Public Utilities Commission,
which ruled that the forthcoming issue
of Washington Gas Light preferred
stock cannot be sold for less than
S97.50 share.
William o. Douglas, chairman of the
Securities Exchange Commission, was
in New York yesterday, spending the
day conferring with the new officials
Of the New York Stock Exchange.
John M. Hanes of the Securities Ex-
change Commission and Joseph B.
Eastman of the Interstate Commerce
Commission will address Harvard
Business School alumni at Harvard
on June IT.
The last luncheon of members of the
District Bankers Association before
the annual convention took place yes
terday at the Willard Hotel. President
Thomas j. Groom presided At the
next luncheon Hilleary G. Hoskinson
will WELD the gavel.
Manufacturers Sales Slump.
Manufacturers sales during April,
1888, declined 20 per cent from last
April. according to reports from
about 1000 manufacturers co-operat-
ing in the monthly joint study of the
National Association of Credit Men
and the Bureau of Foreign and Do
mestic Commerce.
Every major industry group for
which sales data are shown, except
the printing, publishing and allied in
dustries group, whose sales increased
BIZ per cent. registered decrease in
sales during April, 1888, from April
OF last year.
Collections during April amounted
to IA per cent of total accounts re-
ceivable outstanding on April /, 1888.
The comparable ratio was 50 per cent
for April, 1887.