Evening star., 1941-05-16

South Carolina ------ AZ +l9
Weekly Sales Also Soar.
Department store sales in Wash
ngton stores are continuing their
sharp advances, the weekly report
from the Federal Reserve Bank OF
Richmond disclosed today.
Sales in the Capital for the week
ended May 10 were 35 per cent ahead
! of the corresponding week last year,
the review said, although the record
was influenced by special sale.
The Washington gain compared
with an advance for the fifth dis
trict of Is per cent, IS per cent in
Baltimore and IL per cent In
group Of other cities.
Compared with the previous week
mis- year, ended May 8, Capital sales
scored a 10 per cent gain, fifth dis
trict trade was up 6 per cent, ad-
vanced per cent in Baltimore and
IN a group of other cities was l per
cent better than last year.
In the four weeks ended May 10,
retail sales in Washington and in
Baltimore were % per cent ahead
OF the like period a year ago. The
fifth district average was not quite
80 good, up % per cent, while the
gain in a group of cities was only
Der cent, the Richmond Bank said.
Loan Experts i'm Baltimore.
Between so and so members Of
washington's building and loan as
sociations are attending the South
eastern Regional Conference Of the
United States Savings and Loan
League in Baltimore.
It was said today that every one
of the % building and loan assoca-
lions in the Capital is represented
at the two-day session which in
eiuded a banquet at the Lord Balti-
more Hotel last night.
The program called for special
consideration of defense housing and
the role to be played in this by the
loan associations. Ways by which
the associations may increase the
sale of defense savings bonds and
stamps also had a large place on
the program. Technical points relat-
ing to management were discussed
ut the first days sessions.
The Washirg gton delegation is in
charge of William H. Dyer OF the
Perpetual Building Association, and
william N. Payne, jr., president OF
the District Building and Loan
League.
Defense Loans Increasing.
Washington bankers report that
defense loans are moving upward
steadily, although the increase Is
not rapid. There is no demand for
large industrial loans in the Capital,
but loans are being requested by
Arms which handle supplies, Off
eials say. This is in line with ear
her predictions.
Nationally, the recent sharp rise
IN commercial loans is one OF the
most striking developments in bank
ing. These loans rose substantially
In April, a large proportion involv-
ing firms filling defense contracts.
In the first quarter of the present
year commercial, industrial and ag-
ricultural loans in 101 large cities
amounted to $40O, 100000, the Fed
eral Reserve Board recently stated.
Insurance Leaders Meet Here.
The District Life Underwriters
Association, John D. Marsh, presl-
dent, was host today at the annual
sales congress of Washington and
Baltimore life underwriters at the
Wardman Park Hotel.
I The program was devoted largely
10 problems of salesmanship, several
officers of the national association
being present. In addition to Wash
ington and Baltimore representa-
tives. Frederick and Hagerstown
sent large delegations.
Between 300 and 400 attended the
annual luncheon this noon, record
attendance for these conferences.
Crowley Addresses Bankers.
Leo T. Crowley, chairman of the
Federal Deposit Insurance Corp,
told Kansas bankers yesterday that
the banks of the country are in
sound position, that the banks are
doing their share in helping finance
national defense, and the national
system and State systems are work.
ing harmoniously together.
AS much as possible of the defense
financing of the Government should
be absorbed by existing pools of
savings and by the increased savings
which should result from our rising
national income, he said.
On the Washington Stock Ex-
change today $4,000 of the new listed
Anacostia & Potomac R. R. modified
~ bonds sold at 1071a. Washington
Gas preferred moved at 1031a.
A manual of simplifled banking
forms and procedure has been pre-
pared by a special committee of the
Bank Management Commission of
the American Bankers Association
and is now ready for distribution
TO the A. B. AS membership, it is
announced by j. Harvie Wilkinson.
jr., vice president of the State
: Planters Bank e. Trust Co., Rich
nond, who is chairman of the COM
r