Evening star. [volume] (Washington, D.C.) 1854-1972, 1942-11-20
Capital Store Sales
3 Per Cent Above
Yeat Ago in Week
Four Weeks Volume
10 Per Cent Ahead
Of 1o41 Period
By EDWARD C. STONE.

BY EDWARD c. STONE.
Department store sales in the Cap
ital for the week ended last Sat-
urday, November IA, were 8 per cent
ahead of the corresponding week a
year ago, continuing the long period
of weekly advances, the Federal Re-
serve Bank of Richmond reported
today.
Sales in the whole Fifth District
were up IA per cent over last year
% per cent in Baltimore and IA per
cent in group Of other reporting
cities. Sales In Washington were
2 per cent ahead of the previous
week, but in the Fifth District
showed a per cent decrease.
Cumulative sales in the Capital
for the four weeks ending last Sat-
urday were 10 per cent heavier than
a year ago, scored the same gain IN
the Fifth District, were up II per
cent in Baltimore and % per cent
in the group of reporting cities, the
report said.
Suburban Banks Expand Hours.
Three suburban banks in Mont
eomery County have agreed to re-
main open on every Monday after
noon from to o'clock, in order
to meet the new conditions brought
about by the adoption by the Gov
eminent of 20 pay days month.
The Bank of Bethesda. Citizens
Bank of Takoma Park and the Sub
urban National Offices in Silver
Spring and Takoma Park are the
banks which have voted the addi-
tional service.
Fred L. Lutz, executive vice presi-
dent of the Suburban National, said
the banks would start the new
schedule on November 80, and will
be open every Monday. except on
holidays. when they will be open
late on the next business day.
There will be no change in the
regular hours from 9 to 2 week days
and to II on Saturdays. Bank
Night" is expected to prove a great
convenience for host of patrons,
Mr.. Lutz said.
Victory Committee to Meet.
Winslow B. Van Devanter, chair
man of the Victory Fund Committee
for the District of Columbia, has
called committee meeting for next
Tuesday at headquarters of the
District Bankers Association, Ameri-
can Security Building, it was an
nounced today.
The meeting was requested by
Hugh Leach, chairman for the fifth
district. who announced that a pro-
gram of unprecedented size for the
sale of series A and series c tax
savings notes and other issues is
soon to be launched by the Treas
ury. The all-out drive will need the
help of bankers and investment men
for several weeks, today's announce
ment indicated.
The committee is made up of
practically all the bank presidents in
Washington and leading investment
dealers. The Treasury's borrowing
on the biggest scale in the history of
the world will start on November 80.
Mr.. Van Devanter announced to-
day that Y. E. Booker, head of the
investment firm bearing his name,
will contribute his services for the
next three weeks in assisting the
committee In its big task.
Maryland Bank Deposits Gain.
State banks in Maryland showed
an increase of $52,67O,777 in de-
posts during the quarter ended Sep
TENDER 30, John w. Downing, bank
commissioner announces.
Deposits of the 112 banks and
trust companies, exclusive of ma
tional banks and mutual savings in
situations. totaled $4S6, 848,192, COM
pared with $434,177 Ais on June 30.
Along with the expansion of de-
posits, the State banks increased
their investments by s45 ,609922 in
the same period. Holdings of United
States Government obligations re-
vealed marked increase while out
standing loans declined.
FILA Insurance Opposed.
The United States Savings and
Loan Leagues resolutions just
passed in Chicago urging Congress
to make further reductions in non
essential Government expenditures,
asked passage of legislation requir-
ing the Federal Housing Admins
tration to cease inSuring mortgages
upon ordinary, existing houses; dis
continuation of Federal subsidies
for farm credit: discrimination of
expenditure of Government money
to house middle class people at Gov
eminent expense" except to the ex-
tent necessary for war production;
discrimination of Government pur-
chases of mortgages through its
agencies. such as Federal National
Mortgage Corp. and Reconstruction
Finance Corp. and provision, by
legislation, for the reduction of
premium rate charged savings and
loan associations for insurance of
accounts from one-eighth of l per
cent to one-twelfth of per cent
Resolutions also called for the
restoration of the Federal Home
Loan Bank System to the original
concept of privately-owne and
fully independent credit agency for
the thrift and home financing in
situations Of this country"
d. c. Underwriters Meet.
James E. Rutherford. executive
vice president Of the National Asso-
citation of Life Underwriters, was
honor guest of the District Life
Underwriters Association at a
luncheon at the Willard Hotel this
noon. He gave most interesting
address on Life Insurance Goes to
War"
George A. Hates presided, and
there was an unusually large turn
out to honor the national officer.
Hutchings Got Start on Farm.
Lester Hutchings. recently elected
president of the Western Auto Sup
ply Co.. was reared on a Missouri
farm. He succeeds the late w. w.
Humphrey, is IS years old and has
been executive vice president in
charge of sales. He has advanced
rapidly with the concern since 1923,
according tn inform tioo cont to tha