Evening star., 1940-07-31
Have Part in Convention.

Two Washington bankers will take
prominent parts in plans for the
25th annual convention of the
Financial Advertisers Association to
be held in Hot Springs, Va, october
%, 20 and 80, according to plans
announced today from Chicago
headquarters of the association by
Stephen H. Fifield, president.
Robert L. Flather, assistant secre-
tary of the American Security &
Trust Co. of this city. is chairman OF
the Reception Committee for the
convention, and Eliot H. Thomson,
publicity manager, Washington Loan
& Trust Co., is chairman OF the
Transportation Committee.
Several delegates are understood
to be planning to go from Washing
ton to the gathering of experts on
advertising.
Program Arranged.
Program arrangements now are
being made by Lewis F. Gordon,
assistant vice president of Citizens
& Southern National Bank, Atlanta,
chairman of the Program Commit
tee.
The conference will be divided
into four phases. The first hour of
each day, commencing at 9 am,
will be devoted to school session
led by national authority; an ex-
hibit of current financial adver-
tising prepared and displayed by
members will be studied by dele
gates; general sessions to be ad-
dressed by national leaders in the
financial field will occupy the Sec
ond part of each morning; round
table conferences on many specific
merchandising and public relations
problems will occupy the time of
delegates in the afternoons
Every State in the Union and
Canada is expected to be repre-
serted at the gathering.
Bank Funds Ready.
Depositors of the Potomac Savings
Bank today began receiving divi-
dend checks for per cent, distribut-
ed by Receiver Justus S. Wardell
at his office, 1914 K street NV Post
cards are being sent out to notify
each of the $500 depositors when
to call for their dividends. This
dividend amounts to 500, ,963.70, and
will bring to 7512 per cent the total
made available to depositors. Claims
so far filed amount to S2,0l9, ,273.98.
Two other banks for which Mr.,
Wardell is receiver, the Northeast
Savings Bank and the Washington
Savings Bank, have paid their de-
positors 100 per cent and some in
terest. Additional funds are eX-
pected to be forthcoming to de-
positors sometime in the future
from the District National Bank
and the Seventh Street Savings
Bank, for which Mr.. Wardell also
is receiver.
Uncertainties Seen.
Although there are signs of new
activity in commerce and industry
resulting from the rearmament pro-
gram, uncertainties as to the dura-
ton of the European war, and the
outcome of the November election
are restraining factors in the pres
ent business outlook, according to
the monthly survey of business by
William R. Kuhns, editor of Bank
ing, official organ of the American
Bankers Association.
There are quite few signs of
new activity in commerce and in
dustry but to great extent they
represent lively sense of Govern
ment orders yet to come the survey
continues.
plants, both large and small,
already have accomplished highly
creditable job in getting themselves
ready, but the fact remains that
while money still can be appropri-
ated by Congress out of nowhere,
there is no magic wand that can
put it instantly to work"
The cross index of business, pre-
pared by Banking from poll of
5000 bank officers in all sections
of the country, indicates sus-
tanned upward trend in business
during July. Forty-siX per cent of
those polled for the purpose of this
summary said that business was
getting better, II per cent found
conditions about static and 13 per
cent reported a decline The month
before, 43 per cent said that the
direction was up, 81 per cent re-
ported that their respective enter
prises were holding their own and
20 per cent reported an unfavor-
able trend.
The Farmers and Merchants
Bank of Rich Greek, Rich Creek,
Va, has been admitted to member
ship in the Federal Reserve System.
William B. Willard, vice president
of National Savings & Trust Co.,
will leave Friday for vacation in
New England
Robert E. Briggs, assistant CASH
Ter of National Metropolitan Bank,
is on vacation at Bethany Beach.
Vice President Fred Mckee of
Security Savings & Commercial
Bank has returned from vacation at
his summer place at Bay Ridge.
j. O. Lermann, assistant cashier
of Security Savings & Commercial
Bank, has returned from vacation
at Ocean City, Md.
Frank w. Lee, vice president of
City Bank; Frederick Cox, vice
president, and William B. Mehler,
also of City Bank, have returned
from vacations.
E. c. Graham, president of the
Hamilton National Bank, is on va
cation at Arundel-on- -the-Bay.
Capital Transit stock sold at 13
on the Washington Stock Exchange
today.