Evening star., 1939-02-12
Bank C|earings
And Building
Top Year Ago
Slight Lag in Retail
Trade Is Blamed on
Rainy Weather
Nv EDWARD C. STONE.

BY EDWARD C. STONE.
Washington bank clearings and
building permits were higher during
the week just ended than year ago,
while rainy weather was assigned
as the reason for small setback IN
retail trade. the Commerce Depart
ment reported yesterday in review
ing conditions in SO important cities.
Clearings in the Capital for the
week ending Wednesday totaled
s22,O7O,5S5 in comparison with $2l,-
512,l1O in the corresponding week in
1888. Building permits for the week
amounted to $4,000 against only
500, 900 in the like period year ago.
Department stores reported an av-
erage decrease in sales of 4.46 per
cent from the comparable week last
year and 13 per cent from the pre-
vious week, the Commerce review
stated. One store reported business
as So per cent better than last year
and another noted drop Of Is per
cent. Yesterdays report for the
week followed the Federal Reserve
Boards monthly statement showing
department store sales in WASH
ington as O4 per cent better in jan
uary than last year.
Trade comparisons in the rest of
the fifth district were spotty. Nor
folk and Charleston experienced
good increases. Bad weather again
kept Baltimore business behind last
year.
In Washington, total passenger
revenues of the Capital Transit Co.
amounted to $213.585 against $215,-
O78, the small decrease, the first in
many weeks, being attributed to four
days of rain, the Commerce review
said.
New Banking Methods Urged.
Bankers attending the American
Bankers Association Regional Con-
ference at Columbus. Ohio, were
urged to impress the public with the
fact that it is not hard to borrow
money from banks. Roger w.
Adams, a Kentucky banker, said the
public must be educated to realize
that banking institutions are anx-
ious to cooperate in meeting all
credit needs.
Another speaker. DR.. H. C. Sau-
vain, Indiana University, said banks
should have a definite investment
program which they understand.
The logical approach to the prob
lem is to search for ways and means
of minimizing the possibility OF hav-
ing to sell securities at loss, the
guiding principle OF any banks in
vestment program, he asserted. s'ts
Ways in which personal loan de-
partments can be Of greater service
to banks were discussed by B. P.
Allen. Wabash, Ind, who said that
personal loans widen the scope Of
customer relationship.
Longer term loans to industry
would be a service to the borrower,
the community and augment bank
clearings, E. N. Decker, Cleveland,
told the conference.
H. E. Cook, another Ohio banker,
said the banks must continue sell
ing the public what they have to
offer" They must sell service to the
public much as automobiles are sold,
he suggested.
The District of Columbia, Mary
land and Virginia were in the terri
tory covered by the conference. the
District Bankers Association being
represented by Secretary Donald w.
Larson.
Trading on the Washington Stock
Exchange yesterday was confined
to bonds. The first sale this year
was registered in Anacostia & Po-
tomac River R. R. SIS, $1,000 trans
fer taking place at 80. This under
the 1888 closing price. which was 86.
The market closed with 81 bid and
81 asked.
Capital Traction SIS appeared on
the board again yesterday in
$1,000 transaction at 83, around re-
cent levels. Bid and asked prices
in stocks were practically unchang-
ed. While Washington banks will be
open Monday, the exchange will fol-
low New York's example and be
closed, in observance of Lincolns
birthday
Paulger on Bank Program.
Leo H. Paulger, chief examiner Of
the Federal Reserve System, will
address the Regional Trust Con-
ference of the American Bankers
Association in New York next We'd
nesday, it was announced here yes
terday. A delegation of Washing
ton bankers will attend the sessions
on Tuesday, Wednesday and Thurs
day. AS already announced, Frank
j. Hogan of this city, president Of
the American Bar Association, will
be the guest speaker at the annual
banquet.
Joseph R. Fitzpatrick, president
of Washington Chapter, American
Institute of Banking, headed the
Capital delegation which attended
the annual dinner of Richmond
Chapter, last night at the John
Marshall Hotel. Among other in
vited guests were T. r. Morgan,
commissioner of banking for Vir-
ginia; Gov. Price, j. A. Regan.
member of the Executive Council OF
the A. B. A.; Miss Lucille Thornton,
chairman National Women's Com
mittee of the institute, and Jason A.
Cf4oLhr;Jro yoroeiIoy,f nf the RA1ti.