Evening star., 1941-06-09
Bankers TO Weiqh
Longer Hours for
u. 5. Paydays
Consider New Schedule
Upon Return From
Annual ConcIuve
BY EDWARD C. STONE.

ton bankers turned their attention
today to making arrangements for
cooperating with President RooSe-
velt's new order establishing four
Government pay days month.
This is a matter that comes be-
fore the Washington Clearing House
Association rather than the bankers
association. 1t was stated in the
financial district today that the
Executive Committee of the Clear
ing House Association will meet
shortly and consider the longer
banking hours which now appear
probable.
Bankers said today that the Clear
ing House committee would prob
ably give the banks the right to add
two more late days a month, final
approval to come before the full
association. AS the new order does
not go into effect until July l, bank
officials have ample time in which
10 make all adjustments necessary.
Members of Committee.
H. H. Mckee, president of the
National Capital Bank, is chairman
of the Clearing House. The other
members of the committee are Rob-
ert v. Fleming, president, Riggs
National; Frank j. Stryker, presi-
dent. Columbia National; c. F. ia
cobsen, president, National Metro
politan. and Floyd E. Davis, presl-
dent, Lincoln National.
Four late DAYS a month were fore
cast today. The individual banks
are likely to be given good deal OF
latitude in meeting the situation.
In cases where main Office branches
are located nowhere near big Gov
ernment bureau that may be pay
ing employees on the 9Th and 23d,
there would appear to be little
reason for these Offices to remain
open to $50 on those dates.
: While changing banking hours Is
not easy, fnanciers said today that
they favored the four -paydays-a-
month idea much more than any
other plan that had been sug-
gested.
New Officers Assume Duties.
r, Stanley Holland assumed his
new duties today as president OF
The District Bankers Association.
Albert S. Galley started his 3Otn
wear as treasurer of the association,
following his reelection at Hot
Springs amid vigorous applause.
A. M. McLachlen. retiring presi-
sent, received a great deal of praise
for his work during the past year,
one filled with many entirely new
problems. But he received more
than acclaim. The association pre-
Rented him with a beautiful watch.
The presentation, at the annual
dinner at the convention. was mace
bv his brother, Lanier P. McLachlen,
who was also president of the asso-
citation years ago. AS a scotsman
be said, it gave him keen deIght
fo give his brother such handsome
watch. and greater pleasure stlIl
because he did not have to pay Tor It,
Another high light at the end OF
the convention was the announcing
of the sports winners by Stanley D.
willis. chairman of the committee.
Charles H. Doing won the Hiobs
Cup for the third time, giving him
permanent possession. The other
winners in this contest were ID. L..
rhomson and James Med. Shea.
Barnan L. Cotton won the Hatton
Cup for the second time; j. E. Lar
son. second, and A. Scott Offutt,
third. The cup offered by the late
/. A. Fleming, for many years flnan-
ciaI editor of The Star, was captured
by Wilmer J. Waller; Landra B.
Platt, second, and Godfrey l.. Mum
ter, third.
Other Tournament Winners.
The Wright Cup went to Arthur
c. Keefer; second to Robert V.
Fleming and third place to A. Hard
ing Paul. T. Howard Duckett won
the Karl Corby Cup; Thomas N.
beavers. second, and A. M. Nc
Lachlen. third. The Herbert Shan
non Cup was won by Sidney F. Tai
iaferro; Eugene Gott, second, and
RAYMOND F. Garrity, third. The
Mclaughlin Cup went to Charles w.
Fitzgerald; Lawrence Clayton, Sec
ond, and Donald Childress, third.
Mrs. John Dolph won the ladies'
outdoor putting contest; Mrs. Law
renee Clayton was second and Mrs.
Charles A. Smith, third. The Eleanor
Patterson Cup was taken by Mrs.
Harry j. Kane, jr.; Mrs. Landra B.
Platt, second, and Mrs. F. G. Await,
third.
Bernard M. Grant captured first
honors in the horseshoe pitching
contest, with James F. Bridges a
close second.
Special mention was made at Hot
Springs of Francis G. Addison, jr.;
L. Bert Nye and Ernest E. Herrell,
who have attended every one of the
% conventions. LuciouS V. Friedli,
official reporter at the gathering
has almost as good record, while
Eliot H. Thomson and Albert S.
Galley have missed but one or two.
Peoples Drug Earnings Mount.
Net sales of Peoples Drug Stores,
Inc, in May totaled S2,241 009 90,
in comparison with $1875, ,12478, an
increase of S365.884.31, or 1875 per
cent, it was reported today at the
head offices of the chain drug stores
here.
Sales in the first five months of
this year also made an excellent
showing when compared with the
like months year ago Total sales
in this period in 1941 amounted to
sl0,62S, 1894, against S9,319 ,24685, a
substantial increase of 81, 1,309 ,222.49,
or IA per cent.
April sales showed an increase of
i7.8 per cent over April, 1910.
Financial District Comment.
Lawrence A. Baker OF the legal
firm of Baker & Ravenel will address
Washington Chapter of Chartered
Life Underwriters tonight at the
Cosmos Club on the subject of Cur
rent Tax Matters Affecting Life In
surance." Alan Maphis, the newly
elected president. will preside.
George M. Ferris, president Of the
Washington Stock Exchange, has
been invited to dinner in New
York later this month in honor OF
Emil Schram, recently elected presi-