Evening star., 1938-01-21
BANK DEBTS UP
SHARPLY IN D: c.
Substantial Gain Reflects
Large Retail Sales of
Christmas Season.
By EDWARD C. STONE

Rejecting the influence of increased
retail trade during the Christmas holi-
days. debts to individual accounts
reported by Washington banks for
December were IL per cent over the
figures for the previous month
The Standard Statistics Co. bank
debts index for Washington is COM
puted at l6o taverage Of 1920 to 1924
equals 1000 for last month. against
142 for November. The December
index was the highest since last June
In spite of the countrywide reces.
sion In business in the latter months
OF 1887, Washington bank debts for
the entire year compared favorably
with those of 1886, with the average
monthly index at 149 last year,
against 1873 for 1886.
Plate Glass Officers Named.
Byron S. Adams was elected presi-
dent of the Home Plate Glass In
surance Co. at the annual meeting
at 9l8 F street NV. it was announced
today. George M. Emmerich was
named vice president: William H.
somervell, secretary and treasurer,
and William H. Marbury, assistant
secretary-treasurer.
Election of trustees resulted as fol-
lows: Mr.. Adams, William H. Baden,
, Charles r. Brown, Mr. Emmerich,
Philip L. Gore. Charles E. Hood, Al
bert W. Howard, Andrew Saul and
Mr.. Somervell.
The company is now Sc years old. One
of the organizers was John B. Larner,
late president of the Washington Loan
g. Trust Co., who was its president
for many years until his death in
1881 The company confines its op-
eratlons to insuring plate glass in
the District of Columbia and has
always enjoyed wide patronage. the
annual report revealing that 1887 was
another good business year.
Banking Speakers in Demand.
Financiers making up the recently
organized speakers unit Of the District
Bankers Association are being booked
for more and more engagements as
their availability for addresses on
banking subjects becomes better
known.
This unit was organized by Presi-
dent Thomas j. Groom of the asso-
citation in answer to frequent calls
for speakers on banking and allied
subjects. Mr.. Groom appointed Fred
erick P. H. Siddons of the American
Security & Trust Co. chairman of the
unit, which started functioning sew
eral weeks ago.
This step. originated by Mr.. Groom.
ties in closely with the various moves
taken by the American Bankers As
ISOLATION to improve public relations
and at the same time bring about
better understanding of the work
Of the banks and their special prob
lens.
At the coming meeting in Des
Moines leading bankers in that terri
tory will hold a forum with deposi-
tors, at which subjects of special In
terest to depositors will be aired.
Bankers have been surprised over the
dGeAtuoC SOlAAC paw o1Ao pdhS w" a. ~
financial institutions and are doing
all in their power to remedy the
situation.
Airplane Costs Vividly Shown.
The address of T. j. Dunnion. vice
president and treasurer of American
Airlines. before Washington Chapter,
National Association of Cost Account
ants. proved one of the most interest,"
ing ever made before the association,
officials say. He showed how airmail
and passenger revenues are allocated
all over the country and explained
how the costs of operations are dis
tributed by air routes from one point
to another, part being assessed to
actual operations Of the planes while
in the air and other expenses charged
against the ground stations.
He called attention to increases in
the number of passengers flown and
growth in the transportation Of mail
and express. Mr.. Dunnion also pre-
sented a most interesting picture of
the costs of operating different types
Of planes and forecast that larger
and larger planes will be used in the
future because of the demands of the
public.
Second Generation on Board.
John D. Harrell, who recently re-
signed as a member of the Board of
Directors of the Security Savings g.
Commercial Bank, had rendered 10
years OF valuable service to the bank.
AS already announced, he was sue
eeeded by his son, Rudolph T. Har.
rell. who is vice president and secre-
tary Of life insurance association
and president Of Harrell Bros. & Co.
He is member of the Washington
Board of Trade, Washington Golf and
Country Club, as well as several other
clubs; is prominent in the Masonic
order and attends the Christian
Church. During the World War he
made fine record in the Navy.
District Office Wins Trophy.
Completion of its most successful
year in history and establishment Of
records in sales and growth Of re-
sources is announced by George L.
Naramore, manager Washington dis
trict Of the Fidelity Investment Asso-
citation. Volume totals for 1887 show
more than 60 per cent increase over
1885. while the numerical strength of
the sales organization increased over
80 per cent.
Mr.. Naramore also stated that the
washington district won the trophy
offered by an official of the company
for the best all round results during
the fourth quarter Of 1887.
Heard in Financial District.
William H. Laughlin, president of
Washington Chapter. American Insti-
tute of Banking and a large number
OF other bankers will attend the annual
banquet Of Baltimore Chapter tomor-
row night.
Y. E. Booker, member Of the Board
OF Governors of the Investment
Bankers Association, Is attending the