Evening star., 1942-01-08
Junior Bankers Hold
Midwinter Meetinq
In Education Drive
National Secretary
And Others Address
Bonkine Institute
By EDWARD c. STONE.

SlldPCSi, fAAAlSAAtdii AihotAtueS
Banking, attended the midyear edu
cational dinner meeting last nigh
at the Continental Hotel, heard
vigorous plea for banking education
and the complete details regarding
second semester courses.
Floyd w. Larson of New York
national secretary of the institute
was the guest speaker He CAV
an inspirational talk. A native o
Minneapolis, he is a graduate o
the Alexander Hamilton Institute
American Institute of Banking, ant
for 10 years was employed by th'
Federal Reserve Bank of Mime
apolis. advancing from mesSenge
to transit manager. He has beer
in the institute head ONCE since
1897.
Kenneth Birgfeld. chairman o
the Educational Committee, pre-
sided. and brief remarks were mada
by John M. Christie, chapter presi
dent. The District Bankers Asso
citation was represented by th'
president, T. Stanley Holland, anc
the institute faculty by Eliot H
Thomson. the dean. who was giver
4 royal greeting after long illness
Seaboard Firm Changes Hands.
w. A. Thompson of Los Angelo:
today announced purchase Of con
trolling interest in the Seaboarc
Finance Corp, of Washington. which
is located in the Southern Building
The firm was founded by Scott B
5. Appleby many years ago and con.
trols 20 Offices in nine Eastern ano
Midwestern States.
The other Seaboard officers are
Paul A. Appleby, president; James
NJ Johnston vice president: w. w
Roach. secretary and treasurer: w
B. Davis, jr.. assistant secretary
FROST. Myers e. Towers, counsel Off
GERS and employees are to be retained
and headquarters will remain here
The purchase will increase the num-
ber of Offices operated by the Ma
tional Funding Corp. to As.
Seaboard preferred and common
stock is widely held in Washington
Net earnings for the year ended Sep
temher 80 were the largest on rec
ord.
ID. {. Furniture Sales Climb.
Retail furniture sales in the Dis
trict of Columbia in November were
80 per cent ahead of the same
month year ago and in the first
II months of l941 were IS per cent
higher than in the same 1910 period.
the Federal Reserve Bank of Rich
mond states in the monthly re-
view received here today. The re-
port covered seven important
Washington stores.
Sales of 40 stores in the fifth dis
trlct were up 13 per cent in No
vember and 26 per cent in the II
months, the report said. Washing
ton made the best gains in this
area both in November and the II
months.
The survey says that automobile
sales in Washington in the IL
months Of 1871 totaled 23.948 cars
against 26.548 in the like 1910 period
gain of per cent. In November
alone sales reached only 1.l57 cars,
a drop OF 60 per cent. the decline
being due to many different causes.
Bank Debts Up 20 Per Cent.
Bank debts In the Capital in
November. l24l. tctaled 1868 ,843 900.
a slump from the previous month
OF II per cent but sn upturn of 20
per cent from November. 1910, the
survey reveals.
Loans to business and agriculture
by Al reporting banks in the fifth
climbed from s137 100000 on De-
cember II, 1910, to sl6l ,683, 900 on
December 10, 194l.
There were ONLY II failures in the
fifth district in November, against
81 year ago. with liabilities of
$780, 900. compared with S769, 900 in
November, 1910.
From October to November en-
ployment in the Capital showed a
pay roll gain in numbers Of or per
cent and in amount of OF per cent.
In November. l94l, Washington
led the fifth district in building
permits issued with 81 .691 $40, fol-
lowed by Baltimore with S1,46O,424.
Store Sales Reveal Increase.
The Richmond bank says that
sales in 70 department stores in the
fifth district in November totaled
Sl9.4l0,97l, a gain of Is per cent
over November. 1910. Furniture
sales totaled 81 ,659 691.
The average price of tobacco per
100 pounds was 326. 6.38, against S14.43
year ago, jump of SO per cent.
The review says November's dis
tributon of goods to consumers
bulked large in dollars but was due
more to higher prices than physical
volume of trade.
,le same situation applied to a
gain of q per cent in wholesale
trade, the review adds.
A. B. A. Approves Loan Plea.
Henry w. Koeneke, president of
the American Bankers Association,
in Washington today, heartily ap-
proved the plea of Jesse Jones that
the banks grant all possible war
defense credit by seeking to in
crease loans.
For many months the banks of
the country have been making every
effort to extend such loans. Indi-
vidual banks have granted every
loan possible and have participated
with other banks in extending war
credit.
The bankers are all out" in their
support of the war. Mr.. koeneke
said, and will continue full cooper
alton
Rover To Address Bankers.
Leo A. Rover, former D. C. district
attorney. will address JOINT meet
ing Of the safe deposit section and
the auditors section of the District
Bankers Associa ton at a dinner
meeting this evening at the Lee
Sheraton Hotel.
In lively trading on the Washing
ton Stock Exchange today. so shares
Of Washington Gas common sold at
Is and 100 at 177s. Lanston Mono
type sold at ~, up full point. Mer-
genthaler Linotype was strong, 43
shares moving at %, a new high.
Real Estate Mortgage g. Guar
anty preferred appeared. on the
l. l.