Evening star., 1938-12-28
Melath|en Hopeful
On Trade Outlook
For Coming Year
Bank Leader Believes
Normal Conditions to
Unfold in 1899
BY EDWARD c. STONE.

Gllc INSbdCliICll odll.NlllS SOl ps dlll
a former president of the District
Bankers Association, is one of the
most optimistic bank officials in the
Capital on the outlook for 1899. In
viewing probabilities for the coming
year, he made these comments:
1.-The business outlook for 1899
in my estimation, is good and be-
lieve the long-awaited recovery is
assured and that normal business
conditions will gradually prevail
once more as the months of 1899
unfold
with conditions of better en-
ployment prevailing, building con-
struction advancing and trade and
transportation expanding I can see
nothing but better business condi-
tions in 1889"
incidentally, Mr.. McLachlen is
pleased with the banking results in
Washington during the year now
closing. Many other bank officials
hold the same view. They are not
Growing over results, but all say,
I'VE had very good year"
Steel Men Promoted Here.
Carnegie-Illinois Steel Corp. an
nounces the appointments, effective
January l, of Harry F.. Knapp as
manager of sales, special accounts,
with headquarters at Washington,
and of Andrew j. Snow as manager
of sales of the Washington district
sales Office, succeeding Mr.. Knapp.
Mr.. Knapp has been associated
with the subsidiary of the United
States Steel Corp. since 1908, when
he joined the organization at its
Philadelphia sales Office. He came
to Washington in 1915 and in 1926
was appointed assistant manager of
sales of the Washington district
sales Office. He has been manager
of sales here since 1881.
Mr.. Snow has spent his entire
business career with the company
since leaving the Carnegie Institute
of Technology in 1912. He served
in various capacities at the mills,
in the general Offices in Pittsburgh,
and since 1882 has been assistant
manager of the Washington district
sales Office.
Miscellaneous Stocks Strong.
The year-end finds the miscel-
laneous stocks on the Washington
Exchange near their high marks for
1888 in most instances.
Carpet Corp, at 25, is at the years
best price. The last sale in Lanston
Monotype at SIS was off from high
mark of 10. Both Lincoln Service
common and preferred issues are at
the years best figures. Mergenthaler
Linotype, selling at 211a, is off from
q high of 267s.
Peoples Drug Stores common stock
came out the other day at 261a
against high for the year of %
and low mark of 1884. Peoples
Drug Stores preferred registered its
last sale at 112, the best price of
1888. Real Estate Mortgage & Guar
anty preferred is nearer its low than
nigh mark for the year.
Security Storage is in between
It opened the year at LOT, ran up
TO 118 and recently sold at 112. Ter
lainal Refrigerating & Warehousing
Corp. at so, is off from the top.
woodward & Lothrop common is
within point of the 1888 peak,
while the only sale in the preferred
:or the year was at 113.
Reilly New Chest Treasurer.
John A. Reilly, president of the
Second National Bank, has been
elected treasurer of the Community
Chest by the Board of Trustees, it
VaS announced in the financial dis
trict today. He succeeds H. L. Rust,
tr., who had served in this capacity
for the past three years. Mr. Reilly
has been president of the Second
National Bank for several years and
has always been deeply interested
in civic matters.
c. j. Mack, chief accountant of
the Hotel Mayflower, has been
named executive assistant manager
by Manager r. L. Polio. He has
served as chief accountant for II
years, having come to the May
flower with the original group that
set up departments of accountancy
End control before the opening in
1925. He became controller and
within two years was named chief
accountant. He has long been first
assistant in administrative matters
d. c. Store Collections Fiar.
Washingtonians made good rec
ord paying department store bills
in November. although not as good
as Richmond and Baltimore. Of
bills due at the beginning of the
month, 29.1 per cent were paid, the
Federal Reserve Bank of Richmond
reported today.
From January l to November 80
stocks in Washington stores were
turnd 1912 times. Stocks of goods
on hand at the end of November
were 2.3 per cent lower than year
ago and 81 per cent higher than
at the end of October.
AS already announced, retail sales
In Washington stores were IA per
cent higher in November this year
than last year and in the first II
months of 1888 were only 1.8 per
cent under 1887.
Washington Office Opened.
The Lockheed Aircraft Corp has
enlarged its domestic sales organi-
Zation by establishing a Washington
office, with L. V. Kerber as factory
representative here, the headquar-
ters in Burbank. Calf, announce.
Mr.. Kerber was connected with the
Department of Commerce for four
years and with the materiel di-
vision of the Army Air Corps for
eight years He was at one time
pl esident of the Spartan Aircraft
Corp.
Members of the District Building
and Loan League, meeting yesterday,
went on record as highly pleased
with the appointment of Frank w.
Hancock of North Carolina, a for
mer Representative in Congress, to
the board of directors OF the Federal
Home Loan Bank Board. Presi-