Evening star., 1942-12-30
San Francisco Sales
Top Fifth District
In Gains This Year
Upturn Of II Per Cent
Best Record Among
II Trade Areas
BY EDWARD c. STONE.

II Trade Areas
BY EDWARD c. STONE.
With a trade gain of 10 per cent
in the first IL months of this year
over the like l94l period, the 5th
Federal Reserve District, including
Washington, stood second to the
San Francisco area, with an ad-
vance of 81 per cent, according to
a survey of the IL reserve districts
made by the Federal Reserve Board.
Kansas City district was third,
with a gain in department store
sales of 18 per cent over last year.
The Philadelphia, Atlanta and st.
Louis Reserve districts experienced
the same upturns, IL per cent.
Dallas, Cleveland and Boston
districts were IL per cent ahead of
last year in retail trade, the report
states. Retail sales in Chicago
were up 10 per cent. New York
had the smallest gain. 7 per cent.
while trade in Minneapolis was up
only 8 per cent.
The average for the II districts
was IL per cent over the l94l
results, the report showed. Until
recently the 5th Reserve District
had held the lead throughout the
year.
Expanded Offices Opened.
The Washington Office of the
United States Life Insurance Co. Of
the City of New York. opened much
enlarged offices in the Westory
n
NV, yesterday with very large
attendance of special guests. The
manager is w. l.. Tenney, veteran
insurance man.
The new Offices are adjoining the
headquarters of the National As
sociation of Government Employees,
non-profit and non-political or
ganization with which the insur-
ance firm does a large amount Of
business.
The New York concern is one of
the oldest insurance firms in the
country, having been in business 96
years. In normal times it does a
large amount of foreign business.
Several officers from New York were
present at the opening yesterday.
Loan Association 10 Years Old.
The Interstate Building Associa-.
ton marks its 10th anniversary
today, the doors being thrown open
for business December 30, 1882. The
institution. a member of the Fed
eral Home Loan Bank System, Fed
eral Savings & Loan Insurance
Corp, United States Savings & Loan
League and the District of Columbia
Building & Loan League, has en-
ioyed rapid growth in the past few
years.
Resources listed at S2O91 900 in
1889, jumped to $2773.O00 the fol-
lowing year. and in 1941 crossed the
! $4000000 mark Assets are now in
excess of $1,000 ,000
Martin R. West is president Of
Interstate Building, with Clarence
Dodge and Earl Macintosh serving
as vice presidents. Edward K. Jones
holds the position OF secretary treas
urer, with Lawton E. Inabinet as
slstant secretary treasurer. The of
flcers also act as directors of the
institution
League Gives Up Banquet.
Members of the District of Co.
lumbia Building IL Loan League,
meeting at the Raleigh Hotel, voted
unanimously to cancel the annual
banquet, scheduled for mid January.
Martin A. Cook, chairman of the
Banquet Committee. stated that in
all probability building and loan
affairs of this nature will be out
for the duration. Mr. Cook said
that While it was an occasion OF
note and an event that 600 members
and their friends anticipated each
year, it was in line with a move
ment to eliminate all frills and BAN
quoting and thus further the war
effort.
One of the largest gatherings Of
the year assembled for the final
session of the league. Reports we're
heard from Edward L. McAleer,
chairman OF the Advertising Com
mlttee. and C. Clinton James, chair
man of the Legislative Committee.
Among special guests present were
Megrew Brock, president of the Gem
City Association of Dayton, Ohio,
and second vice president of the
United States Savings g. Loan
League; Horace Russell, general
counsel OF the national body from
Chicago, and Morton Bodfsh, also
from Chicago.
District Bankers to Meet.
The midwinter meeting of the
District Bankers Association will
take place at the Columbia Country
Club on Monday evening, January
18. President John A. Reilly an
nounced today.
David A. Weir, assistant executive
manager of the National Associa-
ton of Credit Men. and former head
OF the department of finance at
Notre Dame University, will address
the financiers.
The usual brief midwinter reports
will be included on the program,
about 200 bank officers and directors
being expected.
New ABA Office Opened.
D. J. Needham. general counsel OF
the American Bankers Association:
J. o. Brott, assistant counsel, and
the other members of the WASH
ington staff were in their new Offices
today in the National Savings e.
Trust Co. Building. The new Offices
are located on the top floor, for
merly occupied by Auchincloss.
Parker & Redpath, and are most
spacious and convenient.
The Government is taking over
the former headquarters in the
Washington Building. -
Prices Strong on Exchange.
Prices were strong in fairly activs
trading on the Washington Stock
Exchange today. The market opened
with so and two 25-share lots of
Washington Gas Light common
selling at Is, followed after call, by
20 more at the same price, un-
changed from yesterdays sales.
Capital Transit was in demand
today, 30, Is and share lots chang
ing hands at 26. same as yesterday.