Evening star., 1940-09-23
!. Competition Scored.

). Competition Scored.
Pc ions urging that Congress
r-- % Station to define the field
pt f1r 'ederal savings and loan
6sso,.atJnS so as to halt the
move lard creating them as a
rI7ird lar King system. and also urg-
In INA. Congress diSapprove the
idea u' Naning or investing Federal
fu.c, ra small business concerns
a a,9.. ed in the Mead bill, were
pass.c unanimously by the Ma
t,onsi sociation of Supervisors OF
Sta,s A.. nks at the final session IN
RIchr-r d.
r.. solution on the loans TO
small ldustry proposals stated:
'W.n W or no exceptions, banks
are a. Gus to accommodate their
crecI, needs of both individuals and
coryu-a, ions" and added: This as
sociatioI. is convinced that the eX-
lsti1E 7anking system of this Nation
p-..!GeI facilities ample to supply
81 :, innate demands for credit Dy
industries, whether large or small,
and this association regards any
further attempt by the Federal Gov
ernment to enter into competition
with banks in the making of loans
as unnecessary and undesirable ana
as a potential threat to the sound
ness of our banking structure"
Record Yule Trade Forecast.
Predicting that Christmas trade
may reach the highest levels in the
past 10 years, the Wall Street Jour-
nal says:
With further increases in en-
ployment and purchasing power In
prospect for coming months, the
retailing field appears headed for
one of the most active periods IN
many years. In fact, many mei-
chandisers anticipate that trade dut-
ing the Christmas season-the most
important of the year-may reacn
the highest levels in the past 10
years
"Refecting this sentiment, orders
placed with manufacturers tor
Christmas goods are in excess OF
last years volume. Delivery already
is being taken on some of this mer-
chandise. because it is feared that
defense preparations may result in
transportation difficulties later in
the year"
Capital merchants today agreed
with these predictions and believe
that Washington will experience
especially fine holiday trade because
of the growing population and Gov
eminent pay rolls.
Bankers Mourn Col. Harper.
News of the death of Col Robert
N. Harper, for many years president
of the old District National Bank,
reached the financial district today.
Many bankers expressed deep regret
over his passing, although the seri-
Gus nature of his illness had been
generally known for long time.
For many years Col. Harper was
very active in banking affairs in the
Capital, long before he established
the District National. Few bankers
In the city have been as interested in
civic matters. For a period of 80 or
40 years he served on many of the
city's most important civic commit
tees and was one of the leaders in
connection with several presidential
inaugurations.
Col. Harper probably worked
harder than any other resident of
the city to raise the funds for the
erection of the Washington Audi
torium. A former president of the
District Bankers Association, he
also gave the organization great
deal of time in committee work
Although out of the financial dis
trict for years, many of his friends
still kept in close touch with him
as he reached almost 30 years of
age.
Glass to Be Honor Guest.
Senator Carter Glass will be spe-
cially honored by some 1000 bank
ers at the closing session of the
American Bankers Association
Thursday at Atlantic City.
Robert M. Hanes, president of the
American Bankers Association, was
so years old yesterday. the date of
the opening of the annual conven-
ton.
Marshall D. Riggs, executive vice
president, Travellers Credit Corp,
and former acting controller of the
currency, is attending the A. B. A.
convention.
Miss S. Winifred Burwell and Mrs.
Carl Casey of the National Metro
politan Bank. are registered for the
Bankers Atlantic City meeting.
Ronald Ransom. vice chairman
Federal Reserve Board, and John j.
O'Connor, United States Chamber of
Commerce. among the Washington
mans at Atlantic City.
Exchange Prices Stronger.
Capital Traction 5s figured in a
$500 turnover on the Washington
exchange today at l03, up from the
last previous sale at 1921.
Peoples Drug Stores common reg
istered the sale of 100 shares at 20
q gain of half point in this issue
At the same time Norfolk &:
Washington Steamboat Co. appeared
an the board with IS shares selling