Evening star., 1939-05-23

SOtldJlOll
The associa- Donald W, Larson.
ton signed a lease for three years,
President Hilleary G.. Hoskinson
announced shortly after the con-
tract was completed. The associa-
ton had been considering larger
quarters for long time. Washing
ton Chapter furnished a special
problem, as the institute classes
grew so rapidly from year to year.
The associations headquarters
have been located in the Bond
Building for about eight years. For
quite a long time before that the
Offices were situated over Beckers
leather store on F street. And to
60 farther back into history, the
first office the association had was
in the Masonic Temple. Thirteenth
street and New York avenue NV.
The present staff consists of DON
aid w. Larson, secretary of the as
sociation; Miss Clara F. McGrath,
manager of the associations credit
bureau and Eldridge Kendrick, as
sistant to the secretary. The men,
Der banks are now being given more
service in the way of important re-
ports and notices than ever The
credit bureau, in operation for sew
eral years, renders a service of spe-
Clal value TO the banks.
The Washington Office receives
much information from headquar-
ters of the American Bankers Asso-
citation in New York and also keeps
in close touch with what is going
on in the various State associations.
Financial Librarians Meet.
Sir Willmott Lewis, Washington
correspondent of the London Times.
will speak at the annual banquet of
the Special Libraries Association in
Baltimore Thursday night. The
convention opened at the Lord Bal
timore Hotel today, with the fnan-
clal group especially active.
Today's speakers included Eleanor
S. Cavanaugh, librarian of the
Standard Statistics Co., and Mary
P. Mclean, librarian of the Ameri-
can Bankers Association, who is
chairman of the conventions Com
rnittee on Professional Standards.
Another speaker on the program
was Rose Boots, librarian in the
School of Business at Columbia,
The financial group. with Elsie
Rackstraw, librarian of the Board
of Governors of the Federal Reserve
System, its chairman, presiding, will
have its business meeting at a
luncheon on Wednesday at which
DR.. Clark Warburton, senior re-
search assistant of the Federal De-
on Recent Banking legislation"
On Friday afternoon there will
be joint meeting of the commerce,
financial insurance and public buSi-
ness librarians groups at which DR.
Robert Nathan, chief of the national
income section, Bureau of Foreign
and Domestic Commerce, will speak
on Some Aspects of Income Statis-
tics" and DR.. Ernest M. Fisher,
economic adviser, Federal Housing
Administration, will talk on "Financ-
ing the Housing Program"
Four Months Contracts Up.
H. A. Johns of the F. w. Dodge
Corp. reports that all types of con-
Structlon contracts awarded in the
first four months of this year in
the Washington area, consisting of
the District, Arlington and Fairfax
Counties, Va; Montgomery and
Prince Georges Counties, Md,
reached a valuation total of $685.
269,000. April was the top month
with $13,563,000. Contracts awarded
in the corresponding four months
last year amounted to SIS ,297 900,
with the largest volume, $6,355 900,
recorded in March.
The local activity in residential
work accounted for contracts valued
at $23,079 ,000 Last year this volume
was not built up until during the
month of August.
Non-residential building in the
Washington area moved to a con-
tract level of $9,792,O00 during the
January -through-April period. This
included a substantial advance be-
yond the SO, ,723 900, the business in
those months of last year, Mr.
Johns said.
Business Moving Forward.
manager of the National Association
of Credit Men, has sent word to
the Washington association that
business is now resuming its forward
movement after being checked by
war scares abroad. Although Amer
ican business was temporarily re-
tarded, these war threats are un-
fortunately accounting for much of
the worlds business activities, he
says.
The feverish armament race" he
asserts, has stimulated business
throughout the world. In Europe
preparation for war has mustered
out the ranks of the UNEMPLOYED
In this country our rearmament
policy constitutes a background for
another spending program
Because normal business opera
tions are slightly better than a year
ago, 1889 will probably make better
record, but the strongest stimulus
this year is artificial and unhealthy
war orders direct or indirect" his
survey states.
Washington Exchange Active.
Trading was unusually heavy on
the Washington Stock Exchange to-
day, the opening sale being in
Potomac Electric Power per cent
preferred stock at 1147s. The cor
porations 5l2 per cent preferred
registered three sales at 113.
Liberty National Bank stock ap-
peared on the board, 10 shares selling
at 179, up four full points from
the last transaction Mergenthaler
Linotype came out at 1872, unchang-
ed from last week.
Anacostia & Potomac R. r. SIS
led the bond market, two $4,000
transfers and one $1,000 sale being
recorded at 81, off a point from the
last previous sales. Capital Traction
IS also were in demand, $1,000
changing hands at 93h.
Twenty shares of Capital Transit
49, >1~ A